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BPCL’s arm plans to invest $15 million in its shale gas block in Australia

13 Jan 2014 Evaluate

Bharat Petroleum Corporation’s (BPCL) wholly owned subsidiary, Bharat Petro Resources (BPRL) is reportedly planning to invest $15 million in its shale gas block in Australia. Currently, the company is in second phase of testing wells and has already invested $13 million. Further, the company will be investing another $2 million in this Australian shale gas block. 

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.

Peers
Company Name CMP
Reliance Industries 1186.10
Indian Oil Corpn. 130.70
Bharat PetroleumCorp 296.50
HPCL 343.10
MRPL 172.60
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