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BPCL gains on discovering more oil in Brazil

12 Jan 2015 Evaluate

Bharat Petroleum Corporation (BPCL) is currently trading at Rs. 679.00, up by 1.65 points or 0.24% from its previous closing of Rs. 677.35 on the BSE.

The scrip opened at Rs. 682.65 and has touched a high and low of Rs. 684.40 and Rs. 672.60 respectively. So far 21385 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 784.50 on 28-Nov-2014 and a 52 week low of Rs. 316.00 on 09-Jan-2014.

Last one week high and low of the scrip stood at Rs. 688.30 and Rs. 630.20 respectively. The current market cap of the company is Rs. 49169.73 crore.

The promoters holding in the company stood at 54.93 % while Institutions and Non-Institutions held 29.16 % and 15.90 % respectively.

Bharat PetroResources (BPRL), a wholly owned subsidiary of Bharat Petroleum Corporation (BPCL) has discovered more oil in Brazil. PETROBRAS, the operator of the block SEAL-M-426 in BM-SEAL-11 Concession, Brazil, has announced drilling results of the appraisal well 9-SES-188D (9-BRSA-1280D-SES), located in the Farfan Discovery area, Concession BM-SEAL-11, Block SEAL-M-426 in deepwater Sergipe Alagoas Basin.

The results confirm the light oil and gas discovery in Farfan area as announced on August 9th, 2013. The results presented excellent permo-porosity conditions in the turbidities reservoirs with 54 meters thickness. In addition, a new light oil accumulation in deeper reservoirs with a thickness of 28 meters with good permoporosities has been discovered in this well.

This well has been drilled up to the target depth of 5900 meters in water depth of 2492 meters and is located 107 km from the city of Aracaju, about 5.7 km from the earlier discovery well Farfan. The consortium plans to continue with the Discovery Assessment Plan as approved by the Brazilian upstream regulatory agency ANP.

Petrobras is the operator of the concession BM-SEAL-11 with 60% interest in partnership with IBV Brazil (a 50:50 Joint Venture Company, formed by wholly owned subsidiaries of Bharat PetroResources and Videocon Industries) holding the remaining 40%.

BPCL Share Price

316.00 3.95 (1.27%)
20-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Reliance Industries 1362.60
Indian Oil Corp. 147.00
BPCL 316.00
HPCL 379.20
MRPL 180.00
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