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English Español India: BPCL plans to add 1,000 sites despite privatization plans

Suffering the effect of the pandemic and with a planned privatization process, the state-run retailer wants to add new petrol stations.



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State-run Indian oil marketing company Bharat Petroleum Corp Ltd (BPLC) expects to add some 1,000 gas stations to its network during the 2020-2021 fiscal year.

The network expansion may coincide with the privatization of the company, which could take place by March 2021, according to sources cited by Reuters.

The outbreak of coronavirus in India, which has been on lockdown since March 25, has obviously taken its toll BPCL.

“Consequently lower demand for crude oil and petroleum products has impacted prices and therefore, refining margins globally. Since petroleum products are covered under essential services, the refining and marketing operations of BPCL were continued during the lockdown period,” the company said.

Company officials said that the FY21 Capex target has been reduced to Rs 8000 crore from Rs 12500 crore earlier, reports Times Now.

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