New Delhi [India], August 27 (ANI): Bharat Petroleum Corporation Limited (BPCL) plans to expand the refining capacity of its Kochi Refinery to 17 million metric tonnes per annum (MMTPA) from the current 15.5 MMTPA as it looks to deepen refinery-petrochemical integration and expand its higher-value product portfolio, Chairman and Managing Director Sanjay Khanna said.
Addressing shareholders at BPCL's 73rd Annual General Meeting, Khanna said the planned expansion would strengthen operational flexibility and enable the refinery to meet growing energy demand more effectively.
"At Kochi Refinery, the planned expansion will increase its refining capacity from 15.5 to 17 Million Metric Tonne Per Annum, strengthening operational flexibility and enabling the refinery to serve the growing energy needs more effectively," Khanna said.
"Along with ongoing Polypropylene project, this expansion will deepen refinery-petrochemical integration and broaden our higher-value product portfolio," he added.
The planned expansion comes after BPCL's refineries recorded their highest-ever crude throughput of 41.2 million metric tonnes during FY 2025-26, with capacity utilisation of 116.6 per cent.
Khanna also highlighted the company's refining margins, saying BPCL delivered a Gross Refining Margin (GRM) of USD 11.74 per barrel during the year, the highest among public-sector oil marketing companies.
"We also delivered a Gross Refining Margin of 11.74 dollar per barrel, the highest among public sector oil marketing companies," Khanna said, attributing the performance to reliable assets, flexible crude procurement and disciplined operations.
Khanna said BPCL's refining investments form part of Project Aspire, its five-year strategic programme aimed at strengthening its core refining, marketing and upstream businesses while investing in future growth areas such as petrochemicals, gas, green energy, non-fuel solutions and digital businesses.
"Project Aspire is now moving decisively through execution. Our priority is to allocate capital with discipline and deliver projects safely, on time and cost-effectively, creating enduring value for our shareholders and the nation," he said.
At Bina Refinery, Khanna said an integrated refinery expansion and petrochemical project is progressing to raise refining capacity from 7.8 MMTPA to more than 11 MMTPA. The expansion, together with an upcoming ethylene cracker and downstream petrochemical units, will create a large integrated energy and petrochemical complex in central India.
At Mumbai Refinery, a Petro Resid Fluidized Catalytic Cracker project worth around Rs 14,000 crore is being developed to replace two older process units. Khanna said the project would improve safety, reliability and operational efficiency, while enabling processing of more high-sulphur crude and conversion of low-value residue into higher-value products.
BPCL recorded consolidated capital expenditure of Rs 21,372 crore during FY 2025-26, as it invested in strengthening its core businesses and developing new growth areas.
BPCL is a state-owned integrated energy company with refining operations at Mumbai, Kochi and Bina, besides businesses spanning fuel marketing, LPG, aviation, lubricants, natural gas, upstream exploration and clean energy. (ANI)
BPCL plans to raise Kochi refinery capacity to 17 MMTPA as it deepens petrochemical integration
