Bharat Petroleum Corporation Limited (BPCL)
- Established by the British in 1891 for exploration in the Assam and Burma region.
- Nationalized in 1976 under the Act on the Nationalization of Foreign Oil Companies, including ESSO (1974), Burma Shell (1976), and Caltex (1977).
- Renamed Bharat Petroleum Corporation Limited on August 1, 1977.
- Awarded Maharatna Status in 2017.
- Ranks as India’s second-largest fuel retailer and government-owned downstream oil corporation.
- Operates under the Ministry of Petroleum and Natural Gas.
- Manages refineries in Mumbai, Kochi, Bina, and Numaligarh.
- Some of its subsidiaries include Indraprastha Gas Limited (IGL), Petronet LNG, and Bharat Renewable Energy Limited.
Maharatna Companies in India
Maharatna companies in India are a distinct category among Public Sector Undertakings. The term “Maharatna”, which means “a great jewel” in Hindi, highlights the importance of these companies in the national economy and their impact globally. To have the Maharatna status, companies must meet specific criteria set by the Indian government, including already holding Navratna status, being listed on India’s stock exchange with a minimum prescribed public shareholding, and maintaining strong financial performance.
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