Driven by analytics based on AI and machine learning technologies, the IRIS platform will subsequently trigger automated alerts and actions, including rapid response to equipment failures or hazardous situations.
Govt has told IOC, BPCL and HPCL to look for oil supplies from outside the Middle East region and use collective bargaining power to get favourable terms
On the long-term growth story of India, he said the economy is expected to record double digit growth next financial year.
Engineers India Limited (EIL) which is also a party to the deal, has independently acquired over 3.21 crore equity shares or 4.4 per cent of NRL from BPCL.
The private sector on the other hand remained mute on their marketing initiatives adding a mere 376 fuel outlets
Petroleum had been included in the strategic sector as it ensures energy security for the country.
Targeting to raise Rs 1.75 lakh crore from the asset sale to finance projects aimed at reviving the pandemic battered economy, the government is also looking to sell Shipping Corp of India (SCI), IDBI Bank Ltd
In 2019, a second attempt was made to sell Pawan Hans but the sale process failed to receive investor response.
Though the dates for next GST Council meeting is yet to be finalised, finance minister sources said its due and may take place anytime after the budget presentation.
Even with multiple suitors, the interest level for BPCL remains low in current subdued market conditions
PNGRB issued an order granting more time to 41 city gas entities to complete their rollout commitment
BPCL has plans to expand its Bina refinery and take efficiency improvement measures at Mumbai refinery. But investment decisions on both the projects are now left for the new owners in the company
Recharging the Bharat Petroleum (BPCL) SmartFleet cards that are used to pay for fuel has been a challenge to truck drivers for quite some time and in order to ease this discomfort, Fino with BPCL has started such facilities, its State head, Dhanasekaran said.
BPCL disinvestment has received interest from several large global oil and gas companies and a few Indian entities as well.