Bharat Petroleum Corporation (BPCL) has inked an agreement with Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOC) to jointly set up the world’s largest refinery and petrochemical complex at Ratnagiri district of Maharashtra at a cost of $40 billion. IOC will be the lead partner with 50% stake, while HPCL and BPCL will take 25% stake each.
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.