BPRL was incorporated in October 2006, as a 100% subsidiary of Bharat Petroleum Corporation Limited, to undertake upstream activities of BPCL.

As on March 31, 2022, BPCL’s investment is ₹ 7,275 crore in the equity capital of BPRL. In addition to this, the Company has given a loan of ₹ 2,190 crore to this subsidiary. BPRL has recorded a consolidated income of ₹232.04 crore and a consolidated loss of ₹ 447.86 crore for the financial year ending March 31, 2022.

BPRL has Participating Interest (PI) in eighteen blocks, of which nine are in India and nine overseas, along with equity stake in two Russian entities holding the license to four producing blocks in Russia. Five of the nine blocks in India were acquired under different rounds of New Exploration Licensing Policy (NELP), one block was awarded under Discovered Small Fields Bid Round 1 and three blocks were awarded under the Open Acreage Licensing Policy (OALP) Bid Round I. Out of nine overseas blocks, five are in Brazil, two in United Arab Emirates and one each in Mozambique and Indonesia.

The blocks of BPRL are in various stages of exploration, appraisal, development and production. The total acreage held by BPRL and its subsidiaries is around 22,000 sq. km, of which approximately 49% is offshore.

During the year 2021-22, approximately 4.3 million barrels of crude oil from the Lower Zakum Concession was lifted by BPCL Group refineries, out of BPRL’s share of equity crude oil from the Lower Zakum Concession. The Appraisal Well campaign of the existing Ruwais discovery in the overseas operatorship block Onshore Block 1 Concession in Abu Dhabi, UAE was carried out during the year 2021-22 and the testing of the appraisal wells has established the presence of hydrocarbons. The first exploration well in the unexplored areas was also spud on March 3, 2022.

In BM-SEAL-11 Concession in Brazil, the Declaration of Commerciality (DoC) has been submitted to ANP (Brazilian Regulator) in December 2021 and the concessionaires are progressing on finalizing the Field Development Plan (FDP).

In Offshore Area 1, Rovuma Basin Mozambique, while the construction activities in the 2-Train Golfinho-Atum LNG Project were progressing as per schedule, security incidents in the region led to declaration of force majeure at the beginning of the year 2021-22. The Government of Mozambique is working towards the re-establishment of peace and resolving the security situation. Mozambican military along with Joint forces from Rwanda and Southern African Development Community (SADC) continue their operations in the region. Area 1 Concessionaires remain committed to promptly restarting once the security situation is resolved in a sustainable manner.

In respect of Indian blocks, the block CY-ONN-2002/2, located in Cauvery Basin, Tamil Nadu currently has six producing wells. During the year 2021-22, BPRL’s share of production from the block was 30 thousand tonnes of oil and 12 million cubic meters of associated gas. Gas sales from the block to GAIL commenced in May 2021.

In BPRL’s Indian OALP Operated block, CB-ONHP-2017/9, located in onshore Cambay Basin, Gujarat, exploration drilling prospects have been identified and activities are planned towards the minimum work program.

The PI in respect of blocks in India are held directly by BPRL. PI in respect of blocks in Brazil, Mozambique, Indonesia and UAE and equity stake in two Russian entities are held through various step-down wholly owned subsidiaries/JVs of the wholly owned subsidiaries located in the Netherlands and Singapore.

BKFFPL was incorporated in May 2015 with an equity participation of 74% by BPCL & 26% by Kannur International Airport Limited. The company was formed to design, construct, commission and operate the Fuel Farm at Kannur International Airport for the supply of ATF on an exclusive basis. The Fuel Farm started operating from December 2018 along with the commissioning of the Kannur International Airport. As on March 31, 2022, the authorized capital of the company is ₹ 50 crore and paid-up capital is ₹ 9 crore. During the year 2021-22, the fuel throughput was 28,389.83 KL. The company earned a revenue of ₹ 5.24 crore in the year 2021-22 and the loss during the period was ₹ 3.85 crore.

PLL was formed in April 1998 for importing Liquefied Natural gas (LNG) and setting up a LNG terminal with facilities like jetty, storage, regasification, etc. to supply natural gas to various industries in the country. The company has an authorized capital of ₹ 3,000 crore and paid-up capital of ₹ 1,500 crore. PLL was promoted by four public sector companies, viz., BPCL, Indian Oil Company Limited (IOCL), Oil and Natural Gas Company Limited (ONGC) and GAIL (India) Limited (GAIL). Each of the promoters hold 12.5% of the equity capital of PLL. BPCL’s equity investment in PLL currently stands at ₹ 98.75 crore.

PLL recorded Revenue from operations of ₹ 43,168.57 crore during the year 2021-22, as against ₹ 26,022.90 crore recorded in the year 2020-21. The net profit for the year stood at ₹ 3,438.11 crore, as compared to ₹ 2,939.23 during the year 2020-21.

IGL is a joint venture Company promoted by BPCL and GAIL and set up in December 1998. IGL is a City Gas Distribution (CGD) company supplying natural gas to transport, domestic, commercial and industrial consumers. The operations of IGL are spread over NCT of Delhi, Noida & Greater Noida, Ghaziabad & Hapur, Gurugram, Meerut (except area already authorized), Shamli, Muzaffarnagar, Karnal, Rewari, Kanpur (except areas already authorized), Hamirpur-Fatehpur districts, Kaithal district, and Ajmer. Recently, IGL has received grant of authorization from PNGRB for development of CGD network in the Geographical Area of Banda, Chitrakoot and Mahoba districts. IGL also holds 50% of equity in M/s. Central UP Gas Limited, Kanpur and M/s. Maharashtra Natural Gas Limited, Pune, which are the Joint Venture Companies promoted by BPCL and GAIL.

The paid-up share capital of IGL is ₹ 140 crore. BPCL had invested ₹ 31.50 crore for 22.5 % stake in its equity. The company added 99 new Compressed Natural Gas (CNG) stations and 3.75 lakh new Piped Natural Gas (PNG) domestic connections during the year. As on March 31, 2022, IGL has 711 CNG stations and 20.6 lakh PNG domestic connections.

IGL has registered Revenue from Operations of ₹ 8,484.73 crore and Profit after Tax of ₹ 1,502.27 crore for the year ending March 31, 2022 as compared to Revenue from Operations of ₹ 5,438.68 crore and Profit after Tax of ₹ 1,172.55 crore in the previous year.

SGL, a Joint Venture company promoted by BPCL and Gujarat State Petroleum Company (GSPC), was incorporated in June 2006 with an authorized capital of ₹ 100 crore for implementing City Gas Distribution projects for supply of CNG to the household, automobile, industrial and commercial sectors in Gandhinagar, Mehsana, Aravali, Sabarkantha and Patan districts of Gujarat. The paid-up share capital of the company is ₹ 20 crore. As on March 31, 2022 BPCL has a stake of 49.94% in the equity capital of SGL.

SGL has set up 158 CNG stations and is supplying PNG (Domestic) to 2.47 lakh customers. During the year 2021-22, the company has commissioned 23 CNG stations. SGL has achieved a turnover of ₹ 1,900.46 crore and a net profit of ₹ 346.55 crore for the year ending March 31, 2022 as against ₹ 1,114.75 crore and ₹ 225.01 crore, respectively for the previous year.

CUGL is a Joint Venture Company set up in February 2005 with GAIL as the other partner for implementing projects for supply of CNG to the automobile sector and PNG to the household, industrial and commercial sectors in Kanpur (including parts of Unnao district), Bareilly and Jhansi in Uttar Pradesh. The company was incorporated with an authorized share capital of ₹ 60 crore. The Joint Venture partners have each invested ₹ 15 crore for an equity stake of 25% each in the company, while the balance 50% is held by IGL. As on March 31, 2022, CUGL has 74 CNG stations.

CUGL has achieved Revenue from Operations of ₹ 509.57 crore and net profit of ₹ 118.83 crore for the year ending March 31, 2022, as against ₹ 294.79 crore and ₹ 78.62 crore, respectively, for the previous year.

MNGL was set up in January 2006 as a Joint Venture Company with GAIL for implementing the project for supply of natural gas to the household, industrial, commercial and automobile sectors in Pune and its nearby areas. The company was incorporated with an authorised share capital of ₹ 100 crore. The paid-up capital of the company is ₹ 100 crore. BPCL and GAIL have invested ₹ 22.50 crore each in MNGL’s equity capital. Maharashtra Industrial Development Corporation (MIDC), as a nominee of Maharashtra Government, holds 5% equity and the balance 50% is held by IGL.

MNGL, while strengthening its roots in the existing authorized GA covering Pune and adjoining areas, is also growing in the Nasik GA and Sindhudurg GA in Maharashtra and Ramanagara GA in the state of Karnataka, which were awarded by PNGRB under the 9th CGD Bidding Round. The company crossed achievement of consistent sales of 1 million metric standard cubic meters (MMSCM) per day during the year. MNGL also participated in the 11th CGD Bidding Round and successfully secured two new GAs, i.e., Buldana, Nanded and Parbhani districts in Maharashtra and Nizamabad, Adilabad, Nirmal, Mancherial Kumuram Bheem Asifabad and Kamareddy districts in Telangana.

MNGL has set up 167 CNG stations and is supplying PNG (Domestic) to 5.39 lakh customers. MNGL has achieved Revenue from Operations of ₹ 1,381.41 crore and profit of ₹ 332.62 crore for the year ending March 31, 2022 as against Revenue of ₹ 800.26 crore and profit of ₹ 172.98 crore, respectively, in the previous year.

HNGPL was incorporated in April 2016 as a Joint Venture Company with Gail Gas Limited on a 50:50 basis for implementation of a CGD network in the GA of Haridwar District of Uttarakhand. The authorized capital of the company is ₹ 45 crore. As on March 31, 2022 the promoters have infused ₹ 22.20 crore each towards equity. The promoters have also given an inter-corporate loan of ₹ 15 crore each to the company. The five-year Minimum Work Program (MWP) target as per PNGRB authorisation of 16,905 domestic PNG connections and 830-inch-km pipeline was achieved by the company in 2020-21. As on March 31, 2022 the company has provided 24,667 domestic connections and laid around 1,335.27 Inch-km pipeline. Further, the company has set up 4 CNG stations.

HNGPL achieved a Revenue from Operations of ₹ 45.76 Crore and a profit of ₹ 3.34 Crore for the year ending March 31, 2022 as against a revenue of ₹ 16.74 crore and profit of ₹ 0.67 crore in the previous year.

GNGPL was incorporated in January 2017 as a Joint Venture Company with GAIL Gas Limited on a 50:50 basis for implementation of a City Gas Distribution Project in the GA of North Goa. The authorized share capital of the company is ₹ 60 crore as on March 31, 2022 and the promoters have infused ₹ 30 crore each towards equity. During the year 2021-22, the company has achieved its five-year MWP target of providing 9,588 domestic connection and laying 650-inch-km pipeline. As on March 31, 2022 the company has provided 9,864 domestic connection and laid around 678-inch-km pipeline in the North Goa GA. Further, the company has commissioned 6 CNG Stations in North Goa and is supplying gas to 11 Commercial and 15 Industrial PNG Customers. GNGPL achieved a Revenue from Operations of ₹ 36.17 crore and a profit of ₹ 0.20 crore for the year ending March 31, 2022 as against a revenue of ₹ 4.30 crore and a loss of ₹ 0.88 crore in the previous year.

BSSPL, a Joint Venture Company promoted by BPCL and ST Airport Pte Ltd, Singapore was incorporated in September 2007. BSSPL is a service provider and is associated with the aviation industry. The authorized and paid-up share capital of BSSPL is ₹ 20 crore. The two promoters have each subscribed to 50% of the equity share capital of BSSPL and BPCL’s present investment stands at ₹ 10 crore. BSSPL also has a wholly owned subsidiary named Bharat Stars Services (Delhi) Private Limited, which is providing Into-Plane (ITP) services at Delhi T-3 International Airport.

The company commenced its ITP operations at Bangalore in 2008. BSSPL has now increased its footprints at different airports across India, which includes major airports like Delhi, Mumbai, Bangalore and Chennai. BSSPL also provides Business Support Services (man-power services for fueling operation) in the petroleum sector. Presently, the company is operating at 40 locations in India. Being associated with the aviation industry, the sales and revenue of the company have been hit owing to the Covid -19 pandemic. BSSPL has achieved a consolidated Revenue from Operations of ₹ 37.59 crore and a consolidated loss of ₹ 5.12 crore for the financial year ending March 31, 2022, as against a consolidated Revenue from Operations of ₹ 29.95 crore and a consolidated loss of ₹ 2.32 crore, respectively, for the previous year.

A Joint Venture Company, DAFFPL has been promoted by BPCL, IOCL and Delhi International Airport Limited (DIAL) for implementing open-access Aviation Fuel facility for the new T3, T2 and Cargo terminals at Delhi International Airport. The company is also setting up an Aviation Hydrant System at the T1 terminal of Delhi International Airport. The authorized and paid-up share capital of the company is ₹ 170 crore and ₹ 164 crore, respectively.

BPCL and IOCL each have subscribed to 37% of the share capital of the joint venture, while the balance 26% is held by DIAL. DAFFPL has achieved Revenue from Operations of ₹ 72.19 crore and net loss of ₹ 5.33 crore for the year ending on 31st March 2022, as against revenue of ₹ 57.36 crore and net loss of ₹ 12.43 crore, respectively during the previous year.

MAFFFL was incorporated in February 2010 by Mumbai International Airport Limited (MIAL). BPCL, IOCL and HPCL became joint venture partners with MIAL in October 2014 with each having an equity holding of 25%. Presently, BPCL has invested an amount of ₹ 52.92 crore towards equity. MAFFFL started its operations from February 2015. The business of the company is to own, operate and maintain aviation fuel farm facilities and to provide into-plane services at Chhatrapati Shivaji Maharaj International Airport (CSMIA), Mumbai. MAFFFL constructed a new integrated fuel farm facility, which was fully commissioned during the year 2021-22. The facility is now being operated on an open-access basis. The revenue to MAFFFL is by way of Fuel Infrastructure Charges, payable by the suppliers for utilizing the facility.

MAFFFL achieved a throughput of 7.47 lakh KL during 2021-22, which is an increase of 23% from 6.06 lakh KL during the previous year. However, the same is only 50.37% of the throughput achieved in the year 2019-20. Volumes were hit due to the second and third waves of Covid-19 pandemic in the first and fourth quarter of the year 2021-22. Further, the geo-political crisis in Europe in the fourth quarter of the year negatively impacted recovery of volumes owing to halt of direct flights to North America due to restrictions in the use of airspace.

MAFFFL has achieved Revenue from Operations of ₹ 59.90 crore and profit of ₹ 9.58 crore for the year ending on March 31, 2022 as against revenue of ₹ 46.49 crore and profit of ₹ 1.56 crore, respectively, during the previous year.

KIAL is an unlisted Public Company promoted by the Government of Kerala to build and operate the airport at Kannur on international standards, primarily to cater to the travelling needs of the large NRI population in the region, which travels frequently to various international destinations, and the flourishing business community and tourists. The authorised capital of the company is ₹ 3,500 crore and the paid-up capital of the company as on March 31, 2022 is ₹ 1,338.36 crore, out of which BPCL has contributed ₹ 216.80 crore.

Kannur Airport was commissioned in December 2018 and it is one of the four international airports in Kerala. During the year 2021-22, total aircraft movements were 9,761 and passenger traffic was approximately 8.03 lakh, as against 6,135 aircraft movements and approximate passenger traffic of 4.73 lakh in the previous year. There is an increase in air traffic movement compared to the previous year and there is a recovery of more than 50% compared to pre-Covid-19 scenario.