Bharat Petroleum Corporation (BPCL) is reportedly targeting to double its refining margins once it completes the expansion and upgrade of its Kochi refinery in Kerala to process high sulphur crudes by 2016. The refiner’s margins dropped to $3 a barrel this year, from $4.50 to $5 a barrel last year, but levels will increase by a about $3 to $4 a barrel by mid-2016.
The State-owned company is aiming to raise the capacity of the Kochi refinery to 310,000 bpd from the current 190,000 bpd by May 2016. Besides boosting margins with the upgrade and expansion, the refinery will also be able to produce fully Euro IV compatible gasoline and diesel.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.
