Bharat Petroleum Corporation’s (BPCL) joint venture -- Petronet LNG (PLL) has concluded and executed a Long-term LNG Sale & Purchase Agreement (LNG SPA) with Qatar Energy for the purchase of approximately 7.5 MMTPA Liquified Natural Gas (LNG) on a long-term basis. PLL is a Joint Venture Company with equity participation from four Oil & Gas Maharatna Public Sector undertakings - Gas Authority of India (GAIL), Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL), and BPCL, each holding an equity share of 12.50%, collectively totaling 50%.
LNG SPA is a renewal of the existing agreement signed on July 31, 1999, which was set to expire in April 2028. The new agreement entails deliveries commencing from May 2028 for a duration of 20 years with supplies on a delivered basis. In line with the earlier agreement from 1999, the volumes under the new LNG SPA will be off taken by GAIL (60%), IOCL (30%), and BPCL (10%) primarily from PLL's Dahej Terminal on a substantially back-to-back basis.
The existing long-term agreement between PLL & Qatar Energy accounts for around 35% of India’s LNG imports as of February 6, 2024. The renewal of this agreement is a step in achieving vision of Prime Minister of India to increase share of natural gas in India’s energy basket to 15% by year 2030. This agreement aims to provide energy security and ensure stable & reliable supply of clean energy and help India in its stride towards greater economic development.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1206.00 |
| Indian Oil Corp. | 137.25 |
| BPCL | 288.95 |
| HPCL | 399.95 |
| MRPL | 142.20 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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