Bharat Petroleum Corporation (BPCL) has bought 19.97% stake in Petronet CCK (PCCKL) from a financial institution. Petronet CCK was joinlty promoted by BPCL and Petronet India and financial institutions. Post the acquisition PCCKL will become a subsidiary of BPCL with BPCL holding 68.97%.
PCCKL owns and operates a petroleum product pipeline from Kochi to Karur in Tamil Nadu via Coimbatore for transportation of petroleum products. The present installed capacity of the pipeline is 3.3 million metric tonnes per annum.
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.