The expected sale of raw gas will fetch around Rs 5.95 crore over a period of 15 years and it will be part of the implementation of an action plan for the rejuvenation of polluted river stretches.
The demonstration project will be followed by the setting up of a commercial plant of 50,000 tonnes per annum capacity, thereby saving foreign exchange worth Rs 1,000 crore.
BMTC Managing Director G Sathyavathi added that at the moment, they have stock to last around 4-5 days and the services are running as per schedule.
“Government expands the horizon of Universal Service Obligation by including all retail outlets including remote area,” said the petroleum ministry in a press note.
The move by the central government to call off the expression of interest followed two out of the three bidders walking out. BPCL had in April last year opened a virtual data room.
The Bharat Petroleum Corporation Ltd (BPCL) has received the award for excellence in business performance in cargo handling at Cochin Port for 2021-22.
The privatisation was stalled after two bidders walked out over issues such as lack of clarity in fuel pricing, with just one bidder left in the fray.
When the manager came to know about this, she was verbally abused and harassed by him.
The government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation Ltd (BPCL) and invited Expression of Interest from bidders in March 2020.
The two entities can combine expertise to strategically identify charging sites, garner consumer insights, devise loyalty programs, and create technology to manage charging systems.
The NGT also directed the PSU to increase the density of tree cover in the areas already earmarked for greenbelt, in consultation with the state forest department.
The government invited Expression of Interest from bidders in March 2020 for selling BPCL and by November 2020 at least 3 bids had come in.
The three fuel retailers kept petrol and diesel prices unchanged for a record 137-days between November 2021 and March 2022 despite a nearly USD 27 per barrel rise in crude oil prices.
The company has recently opened its first EV charging corridor along the Chennai-Trichi-Madurai highway with one charging unit.
Development Commissioner Pradeep Jena said this is a momentous occasion when a company like BPCL has joined hands with the State government for production of renewable green energy.
In the last one week, the fuel retailers have increased cumulatively Rs 2.40 in the country.
Justice Amit Rawal issued the order on plea by BPCL seeking an order restraining Cochin Refineries Employees Association, Cochin Refineries Workers Association,
This equates to around 20% of the combined FY2021 EBITDA for the three entities,” reads the report.
Recently, the Centre has directed OMCs to keep the retail HSD oil price, which impacts the common man, at the same level Rs 96.02 per litre from November, 2021.
BPCL sets up 10 charging points at fuel pumps on the 900-km route