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{{Short description|Indian company}}
{{Use Indian English|date=February 2016}}
{{Use dmy dates|date=February 2016}}
{{Infobox company
| name = Bharat PetroResources
| logo =
| logo_size =
| type = [[Public Sector Undertakings in India|Central Public Sector Undertaking]]
| industry = [[Oil and gas industry|Oil and gas]]
| location = [[Mumbai]], [[Maharashtra]], India
| key_people =
| divisions =
| subsid =
| revenue =
}}

'''Bharat PetroResources''' ('''BPRL''') is a [[Subsidiary|wholly-owned]] subsidiary of [[Bharat Petroleum|Bharat Petroleum Corporation]], a [[Public sector undertakings in India|central public sector undertaking company]] functioning under the [[Ministry of Petroleum and Natural Gas]], [[Government of India]].<ref name=":0">{{Cite web |title=BPCL stake sale: A look at the Maharatna beyond refining and petrol pumps - ET EnergyWorld |url=https://energy.economictimes.indiatimes.com/news/oil-and-gas/bpcl-stake-sale-a-look-at-the-maharatna-beyond-refining-and-petrol-pumps/72358550 |access-date=2022-10-20 |website=ETEnergyworld.com |language=en}}</ref> It is engaged in the refining and marketing of petroleum products and is recognized as [[Public sector undertakings in India|Maharatna]] as well as a [[Fortune Global 500]] company.<ref>{{Cite web |date=2010-08-19 |title=Norwest Energy to farm-out Perth Basin gas permits to Bharat PetroResources |url=https://www.proactiveinvestors.com.au/companies/news/16816/norwest-energy-to-farm-out-perth-basin-gas-permits-to-bharat-petroresources-20223.html |access-date=2022-10-20 |website=Proactiveinvestors UK |language=en}}</ref>

BPRL is the upstream oil and gas exploration and production arm of BPCL with both Indian and worldwide exploration projects.<ref>{{Cite web |title=Technology Transfer and Innovation in Global International Joint Venture |url=https://www.researchgate.net/publication/311614140 |website=Researchget}}</ref><ref>{{Cite web |title=BPCL signs pact with Brazil's Petrobras to diversify crude oil sourcing - ET EnergyWorld |url=https://energy.economictimes.indiatimes.com/news/oil-and-gas/bpcl-signs-pact-with-brazils-petrobras-to-diversify-crude-oil-sourcing/94434968 |access-date=2022-10-20 |website=ETEnergyworld.com |language=en}}</ref>

== History ==
BPRL was formed in 2006 with an authorised capital of ₹1,000 crore to embark on the exploration of oil fields across the globe and expand crude supply to its parent firm [[Bharat Petroleum|Bharat Petroleum Corporation]].<ref>{{Cite web |date=2021-03-28 |title=Key milestones of an oil major BPCL |url=https://www.thehindubusinessline.com/specials/corporate-file/key-milestones-of-an-oil-major/article34183276.ece |access-date=2022-10-26 |website=www.thehindubusinessline.com |language=en}}</ref>

BPRL pursues oil and gas development projects from [[Brazil]] to [[Mozambique]]. The company has acquired a 40 percent stake in an ultra-deepwater hydrocarbon block in [[Brazil]] for USD 1.6 billion after seeking approval from the [[Union Council of Ministers|Union Cabinet]] On July 27, 2022. The block is expected to start production by 2026-27. Brazil's national oil company [[Petrobras]] owns and operates it with a 60 percent interest.<ref>{{Cite web |title=BPCL inks pact with Brazil's Petrobras to diversify oil sourcing |url=https://www.moneycontrol.com/news/business/companies/bpcl-inks-pact-with-petrobras-to-diversify-oil-sourcing-9225541.html |access-date=2022-10-20 |website=Moneycontrol |language=en}}</ref>

As of 2022, BPRL has Participating Interest (PI) in 26 oil and gas blocks, 13 of which are located in [[India]] and an equal number in overseas.<ref name=":0" />

Of these 13 overseas blocks, six are in Brazil, two are situated in [[United Arab Emirates|UAE]], and one each is in [[Australia]], [[Indonesia]], [[Mozambique]], [[East Timor|Timor Leste]], and [[Israel]]. The blocks of BPRL are in various stages of exploration, appraisal, pre-development, and production phases.<ref name=":0" />

BPRL has equity stake in two Russian companies including Taas-Yuryakh Neftegazodobycha, which is a subsidiary of [[Rosneft]] established in 2000 holding the license to produce oil and gas from four producing blocks in [[Russia]]. BPRL also holds a stake in the special purpose vehicle (SPV), Urja Bharat Pte Limited, which bid for the Abu Dhabi exploration block.<ref>{{Cite news |title=IndianOil-led consortium awarded Abu Dhabi onshore block |work=Arabian Business |url=https://www.arabianbusiness.com/industries/energy/416124-indianoil-led-consortium-awarded-abu-dhabi-onshore-block}}</ref>

The company reported a consolidated income of Rs 181 crore and a loss of Rs 96 crore for the financial year (FY) 2018-19, as opposed to a consolidated income of Rs 216 crore and a loss of Rs 68.72 crore in the previous fiscal year.<ref>{{Cite web |title=BPCL stake sale: A look at the Maharatna beyond refining and petrol pumps - ET EnergyWorld |url=https://energy.economictimes.indiatimes.com/news/oil-and-gas/bpcl-stake-sale-a-look-at-the-maharatna-beyond-refining-and-petrol-pumps/72358550 |access-date=2022-10-24 |website=ETEnergyworld.com |language=en}}</ref>

== Board of directors ==

* [[Arun Kumar Singh]] (Director)
* Vetsa Ramakrishna Gupta (Director)
* Sanjay Khanna (Director)
* Kamal Chopra, Director (Finance)
* Krishnakant Joshi, Director (Operations & Business Development)
* Rajinder Kumar, (Government Director)
* Mona Jaiswal, (Independent Director)<ref>{{Cite web |title=Board of Directors |url=http://bharatpetroresources.in/About-BPRL/About-BPRL.aspx#BoardofDirectors |access-date=2022-10-26 |website=bharatpetroresources.in}}</ref>

== References ==
{{Reflist}}

== External links ==

* [http://bharatpetroresources.in/ Official website]

[[Category:Oil and gas companies of India]]
[[Category:Oil pipeline companies]]
[[Category:Government-owned companies of India]]
[[Category:Energy companies established in 2006]]
[[Category:Non-renewable resource companies established in 2006]]
[[Category:Indian companies established in 2006]]
[[Category:Companies nationalised by the Government of India]]
[[Category:Indian brands]]
[[Category:Government-owned oil and natural gas companies of India|India]]

Bharat PetroResources - Revision history

JAY JADABA: Put Up First Post and Citations