BPCL climbs as international crude oil prices plummet

Bharat Petroleum Corporation Ltd. | Refineries | Oil & Gas | BSE: 500547 | NSE: BPCL

23 Sep 2011 Evaluate

BPCL is currently trading at Rs. 666.00, up by 6.30 points or 0.95% from its previous closing of Rs. 659.70 on the BSE.

The scrip opened at Rs. 666.00 and has touched a high and low of Rs. 667.95 and Rs. 661.10 respectively. So far 17390 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 801.95 on 27-Sep-2010 and a 52 week low of Rs. 530.00 on 24-Feb-2011.

Last one week high and low of the scrip stood at Rs. 673.50 and Rs. 651.00 respectively. The current market cap of the company is Rs. 23850.93 crore.

The promoters holding in the company stood at 54.93% while Institutions and Non-Institutions held 27.79% and 17.28% respectively.

Crude prices slumped in tandem with the global equities and fell more than 6 percent on Thursday as traders rushed out of risk-based assets after the Federal Reserve’s stimulus effort and its dour economic outlook. The weak economic signals added to the increasing concerns about slowing economic growth, weak manufacturing indicators from China raised the concern of economic growth its effect on demand for oil.

Meanwhile, Bharat Petro resources, a wholly owned subsidiary of Bharat Petroleum Corporation (BPCL), has reported that Petrobras, operator of block 426 in BM-SEAL-11 Concession, has confirmed the presence of oil and gas accumulations, after completing the deepening, logging and testing operations at Barra Well (1-SES-158). The Barra Well was drilled in water depth of 2311 meters, 58 km from the coast of Sergipe and 90 km from Aracaju, in the Sergipe- Alagoas Basin off shore Brazil. The information obtained so far, is sufficient to confirm discovery of a new oil province in the Sergipe- Alagoas Basin.

The operator has reported the presence of excellent reservoirs with good porosities and permeability at a depth of approximately 5050 and 5400 meters. Excellent quality hydrocarbons were observed in the range from around 43 API(consolidate/ light oil) to 32 API(oil), during logging and fluid ( liquid and gas) sampling, in a formation test.

The consortium consisting of operators with 60% of participating interest and IBV Brasil Petroleo (a 50:50 Joint Venture company formed by wholly owned subsidiaries of Videocon Industries and Bharat PetroResources) holding the balance 40% participating interest, will continue the minimum exploration program, agreed with the National Agency of Petroleum Evaluation Plan submitted by the consortium, in order to ascertain the extent of accumulation.

BPCL Share Price

302.85 -4.75 (-1.54%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Reliance Industries	1435.70
Indian Oil Corp.	144.70
BPCL	302.85
HPCL	387.00
MRPL	167.90
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