08-17-2017, 12:45 AM
Bharat Petroleum Corporation Limited (BPCL) is a state-owned Indian oil and gas company based in Mumbai, Maharashtra. The Corporation operates two major refineries in the country located in Mumbai and Kochi. The company ranks 358 on the Fortune Global 500 list of the world's largest companies as of 2016.
History
In 1889 during extensive industrial development, a major player in the South Asian market was Burmah Oil Company. Although it was incorporated in Scotland in 1886, the company grew out of Cook Company's Rohit Cook Company companies, which had formed in 1871 to refine crude oil produced from primitive hand-dug wells in Upper Burma.
In 1928, Asiatic Petroleum Company (India) began cooperation with the oil company of Burma. This alliance led to the formation of Burmah-Shell Oil Storage and Distribution Company of India Limited. Burmah Shell began its operations with import and commercialization of kerosene.
On 24 January 1976, the Government of India assumed control of the Burma Shell to form Bharat Refineries Limited. On August 1, 1977, he was renamed Bharat Petroleum Corporation Limited. It was also the first refinery to process Bombay High's new Indian crude.
In 2003, following a request from the Public Interest Litigation Center, the Supreme Court prevented the Central Government from privatizing Hindustan Petroleum and Bharat Petroleum without Parliament's approval [3]. As a CPIL advisor, Rajinder Sachar and Prashant Bhushan said that the only way to divest companies would be to revoke or amend the Acts by which they were nationalized in the 1970s. [4] As a result, the government would need a majority in both Cameras to drive any privatization.
History
In 1889 during extensive industrial development, a major player in the South Asian market was Burmah Oil Company. Although it was incorporated in Scotland in 1886, the company grew out of Cook Company's Rohit Cook Company companies, which had formed in 1871 to refine crude oil produced from primitive hand-dug wells in Upper Burma.
In 1928, Asiatic Petroleum Company (India) began cooperation with the oil company of Burma. This alliance led to the formation of Burmah-Shell Oil Storage and Distribution Company of India Limited. Burmah Shell began its operations with import and commercialization of kerosene.
On 24 January 1976, the Government of India assumed control of the Burma Shell to form Bharat Refineries Limited. On August 1, 1977, he was renamed Bharat Petroleum Corporation Limited. It was also the first refinery to process Bombay High's new Indian crude.
In 2003, following a request from the Public Interest Litigation Center, the Supreme Court prevented the Central Government from privatizing Hindustan Petroleum and Bharat Petroleum without Parliament's approval [3]. As a CPIL advisor, Rajinder Sachar and Prashant Bhushan said that the only way to divest companies would be to revoke or amend the Acts by which they were nationalized in the 1970s. [4] As a result, the government would need a majority in both Cameras to drive any privatization.
