Bharat Petroleum Corporation (BPCL), India’s second-largest public sector refinery, is likely to raise around Rs 2,000 crore through local and foreign loans in 2012-13 fiscal year. The refinery major also expects its capital expenditure for the financial year beginning March to be at Rs 4,250 crore up from Rs 3,500 crore this fiscal.
Recently, BPCL had bought two cargoes of West African crude oil from Exxon Mobil for loading in February. The refinery major had bought a 950,000 barrel cargo of Qua Iboe and a 950,000 barrel cargo of Yoho.
The company had bought one million barrels each of Erha and Qua Iboe crude from Vitol in the last tender, for loading in the first half of January.
