Bharat Petroleum Corporation Limited (BPCL), an Indian government-owned oil and gas corporation, is increasing its focus on sustainable growth by exploring opportunities in hydrogen, biofuels, electric mobility, among other segments.
The company will leverage its nationwide network fuel stations to support electric mobility by converting around 7,000 conventional Retail Outlets into Energy Stations, providing multiple fueling options like petrol, diesel, flexi fuels, EV charging facility, CNG and eventually hydrogen in the medium to long term.
It plans over Rs 1 lakh crores (US$ 13.5 billion) at the group level, majorly in enhancing petrochemical capacity and improving refining efficiencies, gas proliferation, upstream oil and gas exploration and production and fuel marketing infrastructure.
Mr Arun Kumar Singh, Chairman and MD of BPCL, said, “The investment will help BPCL prepare for the future where conventional fuels and zero-carbon mobility in the form of electric vehicles (EVs) and hydrogen will co-exist while giving it the option to convert a greater degree of crude oil directly into high-value petrochemicals.”
With a population of over 1.4 billion, India has been investing heavily in hydrogen technology, focusing on using energy resources more efficiently. Green hydrogen technology has significant advantages in terms of sustainability. Recently, the Indian Patent Office has approved one of the myFC (Swedish fuel cells company) patents, which was previously approved in the US, China, Japan and Canada. The patent protects a smooth and gentle method for efficiently starting up the fuel cells and transitioning to a power-generating phase while maintaining the long life of the fuel cells. myFC sees great future potential in the Indian hydrogen market as demands grow.