The board of bp plc, a leading global energy company, is convening in India, underscoring its dedication and optimism regarding business prospects in the nation, as announced on Wednesday. The five-day board meeting signifies bp’s expanding presence in India and its intent to enhance its operations within the country.
Recognizing India’s pivotal role in global energy demand, the board will engage with the Indian government and business partners during their visit, which includes tours of key bp facilities in the region. Details regarding the specific venues and agenda of the meetings were not disclosed.
During a meeting with Petroleum Minister Hardeep Puri, bp Chair Helge Lund expressed the company’s commitment to collaborating closely with the Indian government to address its evolving energy requirements. He emphasized the importance of utilizing their combined expertise to support secure, affordable, and low-carbon energy development in India.
bp’s CEO Murray Auchincloss noted the substantial potential for closer collaboration, citing opportunities through the partnership with Reliance Industries Ltd. He highlighted efforts in gas production and retail expansion, emphasizing the role of India’s skilled workforce in achieving their objectives more efficiently.
Kartikeya Dube, the company Head of Country, remarked on India’s strategic significance in it’s transformation into an integrated energy company. With a long-standing presence through the Castrol brand and involvement across the gas value chain, he stated that it aims to grow significantly in India and contribute to the nation’s energy independence goals by 2047.
With a century-long history in India and investments exceeding $12 billion, it ranks among the largest international energy firms in the country. It has partnered with Reliance to launch three deepwater natural gas projects, which now contribute a third of India’s gas output. Additionally, bp and Reliance have established Jio-bp, a significant retail and mobility alliance with nearly 1,900 retail locations and over 4,900 charging stations nationwide. bp’s initiatives also encompass Castrol lubricants, oil and gas trading, and clean energy projects.
