Bharat Petroleum to spend $13.5 bn to expand, diversify businesses

Bharat Petroleum Corp., the state-run refiner in the process of being sold by the Indian government, plans to spend 1 trillion rupees ($13.5 billion) over the next five years to expand and diversify its businesses.

The bulk of the investment will be in five areas: petrochemicals, natural gas, electric mobility, consumer retailing, renewables and bio-fuels, Chairman Arun Kumar Singh said in a virtual conference Monday.

“The energy landscape is changing fast and energy transition toward a low-carbon future has accelerated and BPCL is actively exploring new business opportunities for sustained growth,” he said.