BPCL, Videocon surge on new oil find by Brazil partner

Shares in Bharat Petroleum Corporation Ltd and Videocon Industries gain after a drilling campaign off Brazil's northeastern coast showed that an area controlled by Petrobras and the Indian companies likely holds more than a billion barrels of oil.

Petroleo Brasileiro SA, as Brazil's state-run oil company is formally known, and IBV Brasil, a 50-50 joint venture between BPCL and Videocon Industries, have determined the SEAL-11 exploration block contains very large amounts of high-quality light crude oil and natural gas, according to five government and industry sources with direct knowledge of the drilling results.

BPCL is up 6.1 percent, while Videocon Industries gains 6.4 percent at 2.41 pm.


  • RBI should make it must for banks to disclose loans refinanced under 5/25 scheme

    There is reasonable doubt that banks are using the 5/25 scheme to postpone dealing with bad loans.


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Roopen Roy

Bitcoins will spark India’s financial innovation

Often, when you string together two pieces of seemingly unconnected ...

Rajgopal Nidamboor

The power of detached thinking

Dispassionate thinki­ng holds the discriminating embroidery of perceptive focus and ...

Dharmendra Khandal

Mosquitoes are a menace, but part of eco system too

Who can deny that mosquitoes are a menace? The buzz ...


William D. Green

Chairman & CEO, Accenture