BP focuses on deepwater exploration and refining

Vol 9, PW 11 (08 Sep 05) People & Policy

BPs focus in India is switching from LNG imports and the acquisition of Dabhol to deepwater exploration, refining and marketing.

In todays environment you cant bring LNG into India, BP bluntly tells us. If I can get $10-$12 selling LNG to the US or Europe what sense is there bringing it to India where no one will pay as much Similar uncertainty over the future of Dabhol has forced BP to adopt a watch-and-wait policy following the decision to hand over control to GAIL and NTPC.

The government has told us they will sell Dabhol when it starts up, we learn. But no one knows when itll start up.

Unless it starts up theres nothing there, nothing to buy. More exciting for BP is deepwater exploration, driven by the recent success of Gujarat State Petroleum.

BP wants to get involved in a project that is unique, we learn. Where we can bring in technology to make a difference.

BP has approached GSPC offering its expertise in the development of high temperature, high-pressure gas discoveries and, like several others, is waiting for GSPC to invite it to make a presentation. GSPC has so far not responded.

Wed like to start with domestic gas, BP tells us. And then move on to imported gas.

Refining and marketing is another area where BP is taking a hard look, encouraged by oil minister Aiyars vision of India as a regional export hub for Indian petroleum products. BP has contacted Bharat Petroleum about a possible stake in the proposed Bina refinery, Hindustan Petroleum about its proposed Bhatinda refinery and Indian Oil about the proposed Paradeep refinery.

Products from any of these refineries, feels BP, could easily be sold to China or to the west Coast of America and of course, in India itself, where the company might even consider opening a chain of petrol pumps.