India’s second largest oil marketing company, Bharat Petroleum Corporation (BPCL), has announced the resumption of around 2118 projects, requiring total expenditure of INR 503000 million in the span of three years.

Among the 2118 projects, there are refinery projects, bio-refineries, petrochemicals, pipelines, marketing infrastructure projects and others.

Divestment bound company, has targeted an expenditure of INR 95970 million for the current fiscal of which it has already consumed INR 16500 million.

The company earlier came up with a total budget of INR 125000 million but decided to reduce it to over come the loss incurred on abrupt lockdown imposed to constrain Coronavirus uncertainties.

As per the current plan, it intends to spend INR 187660 million worth to finalize 10 projects by the end of this fiscal.

Out of these 10 projects, 2 of the biggest projects are in Kochi Refinery including the Propylene derivative petrochemical project and Motor Spirit block project.Get more info : https://www.chemanalyst.com/NewsAndDeals/NewsDetails/bpcl-resumes-operations-on-over-2118-stalled-projects-a-game-changing-initiative-for-future-growth-1338However, the company is facing difficulties to resume operation in these projects since April, as lockdown imposed in the country has made it impossible to deploy highly skilled foreign manpower.

According to ChemAnalyst report,” “Global Liquified Petroleum Gas (LPG) Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”.

The demand for LPG is likely to increase in the coming years on its increasing preference over PNG, as it is offers better storage and safety value .In addition, increasing utilization of LPG as a feedstock for propylene and butylene production to further contribute in pushing up the demand for LPG in the next five years.Browse Complete Report  : Liquified Petroleum Gas (LPG) Pricing LPG is produced as a co-product in the process of crude oil refining.

Considering the continuous depletion of renewable resources, Indian Oil Corporation (IOCL), a renowned oil and gas company in India is looking forward to manufacture LPG from a non-renewable source like biomass.

As several researches have shown effective results in the manufacturing of LPG from non-renewable resources like glycerol, vegetable oil and biomass, the company is planning to incorporate this route of production influenced by the idea of World LPG Association that aims to produce 50% of world LPG from biomass by 2040.

This innovation is anticipated to be cost-effective in the long run as the feedstock are more affordable and environment-friendly resources.Sudden outbreak of Coronavirus in Q4 of FY 19 has plummeted the demand for LPG in the Global LPG market, as an outcome of the lockdown imposed in various countries to prevent the spread of virus.

In addition, unprecedented dive in the value of crude primarily due to the demand destruction caused by worldwide halt in trade and travel activities, further lowered the consumption of LPG in fourth quarter of FY 19.