Bharat Petroleum Corporation Ltd.

No information contained herein has been verified for truthfulness completeness, accuracy, reliability or otherwise whatsoever by anyone. While the Company

will use reasonable efforts to provide reliable information through this presentation, no representation or warranty (express or implied) of any nature is made

nor is any responsibility or liability of any kind accepted by the Company or its directors or employees, with respect to the truthfulness, completeness,

accuracy or reliability or otherwise whatsoever of any information, projection, representation or warranty (expressed or implied) or omissions in this

presentation. Neither the Company nor anyone else accepts any liability whatsoever for any loss, howsoever, arising from use or reliance on this presentation

or its contents or otherwise arising in connection therewith.

This presentation may not be used, reproduced, copied, published, distributed, shared, transmitted or disseminated in any manner. This presentation is for

information purposes only and does not constitute an offer, invitation, solicitation or advertisement in any jurisdiction with respect to the purchase or sale of

any security of BPCL and no part or all of it shall form the basis of or be relied upon in connection with any contract, investment decision or commitment

whatsoever.

The information in this presentation is subject to change without notice, its accuracy is not guaranteed, it may be incomplete or condensed and it may not

contain all material information concerning the Company. We do not have any obligation to, and do not intend to, update or otherwise revise any statements

reflecting circumstances arising after the date of this presentation or to reflect the occurrence of underlying events, even if the underlying assumptions do not

come to fruition.

1

2

BPCL Group well positioned to improve earning with large downstream presence

Gro

up

ove

rvie

w

Mumbai –

240 kbpd

Kochi –

190 kbpd

Numaligarh –

60 kbpd

BORL –

120 kbpd

Refining Share - 14.18% (installed capacity)

Refining capacity utilization –31.42 MMT

Market Share - 21.25%

Market Sales - 33.30 MMT

Retail Outlets 11637

LPG Distributors 2948

Installations 12

Depots 115

Tankages (Mn KL) 3.44

Aviation Service Stations 35

LPG Bottling plants 49

Pipelines (km) 2882

Apr-March 2013

Refining Capacity

BPCL Group well positioned with wide network

Subsidiaries Joint Venture

Upstream Refining Pipelines Alternate

fuels LNG

City Gas

Distribution

Bharat

PetroResources

Ltd.

Numaligarh Refinery

Ltd

Into-plane

fuelling Refining

Bharat Oman

Refineries Ltd.

Indraprastha

Gas Limited

Central UP

Gas Limited

Maharashtra

Natural Gas

Limited

Sabarmati Gas

Limited

100%

Petronet LNG

Limited

Petronet CCK

Limited

Bharat

Renewable

Energy Ltd.

Bharat Stars

Services Pvt

Ltd

Delhi Aviation

Fuel Facility

(P) Ltd

61.65%

50%

22.5%

25%

22.5%

25%

12.5%

49% 33.33% 50%

37%

Trading

Activities

Matrix Bharat

Pte Limited

50%

3

Kannur

International

Airport Ltd. 21.68%

Gro

up

ove

rvie

w

GSPL India

Transco

GSPL India

Gasnet

11%

11%

4

Market sales growth led by auto fuels, higher production to cater rising sales

3.24

3.56

3.87

3.88

0.93

1.13

1.19

0.52

5.57

5.02

4.54

4.53

0.13

0.28

0.27

0.28

17.21

18.69

20.54

22.52

0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00

2009-10

2010-11

2011-12

2012-13

LPG Aviation Direct Gas Lubes Retail

````

Market Sales (MMT)

27.89

LPG Bottling Plant Capacity

(TMT)

-

5.00

10.00

15.00

20.00

25.00

30.00

35.00

2009-10 2010-11 2011-12 2012-13

12.52 13.02 13.35 13.10

2.61 2.25 2.83 2.48

7.89 8.76 9.56 10.11

2.02 5.73

BORL

Kochi Refinery

Numaligard

Mumbai Refinery

Refinery Thruput (MMT)

29.27

23.02

2509 2509

2990 2990

2000

2200

2400

2600

2800

3000

2009-10 2010-11 2011-12 2012-13

Capacity

24.03

Ph

ys

ica

l p

erf

orm

an

ce

31.14

27.76 31.42

33.30

Industry (PSU) Vs BPC sales growth (%) Apr 12 – Mar 13

Overall Growth (%)

Industry (PSU) 3.16

BPC 6.94

7.0

12.2

23.9

0.4

(1.5)

(12.6)

29.3

5.1

9.1

3.6 1.9

(5.3)

(16.4)

25.2

(20.0)

(10.0)

-

10.0

20.0

30.0

40.0

MS-R HSD-R RLNG LPG Aviation FO Naphtha

BPC Industry

5

Ph

ys

ica

l p

erf

orm

an

ce

7,3

59

15

,37

6

15

,46

7

13

,11

3

26

,42

9 6.26 11.75 11.00

8.7915.89

-4.00 8.00 12.00 16.00 20.00

-

10,000.00

20,000.00

2008-09 2009-10 2010-11 2011-12 2012-13Ne

t P

ro

fit (

Rs.

Millio

n)

Profit after Tax (Rs. Million) Networth%

Financial Performance

0.47

0.92 0.85

1.14 1.12

-0.20 0.40 0.60 0.80 1.00 1.20 1.40

2008-09 2009-10 2010-11 2011-12 2012-13

Debt: Equity ratio

Adjusted Debt-Equity Ratio

PAT (Rs. Million)/Networth (%)

178

252 259

320 353

-

100

200

300

400

2008-09 2009-10 2010-11 2011-12 2012-13

Net Worth Borrowings Capital employed

Adjusted Capital Employed (Rs. Billion)

6

Fin

an

cia

l p

erf

orm

an

ce

7

Positive Sectoral Reforms

Phased Deregulation of pricing of auto fuel products

Gasoline – completely deregulated

Gasoil (Retail) – Regular consumer price increases

Gasoil – Bulk sales completely deregulated

Se

cto

ral R

efo

rms

Restricted supply/Targeted subsidies for cooking fuel products

Domestic LPG – supply of 9 cylinders per household per annum at subsidized rates

Domestic LPG – Pilot projects, on the launch, in 18 districts for direct transfer of

subsidies to beneficiaries' bank accounts

PDS Kerosene - Pilot projects in 2 districts for direct transfer of subsidies to

beneficiaries' bank accounts

More such projects to come on complete penetration of market by AADHAR

8

Ongoing projects – thriving to be self sufficient integrated

source of fuel supply

Pro

jec

ts r

evie

w

Integrated Refinery Expansion Project (IREP) at Kochi – Increasing

refining capacity from 9.5 MMTPA to 15.5 MMTPA along with

modernization of existing facilities to produce future quality fuels

Mumbai Refinery – Catalytic Cracking Reformate (CCR) unit &

Replacement of CDU I & II

Investments in Gas pipelines – GIGL & GITL pipelines in Joint

Venture

Retail : Network expansion with infrastructure growth and

upgradation

Expansion of marketing infrastructure across all business areas

9

Upcoming projects P

roje

cts

Re

vie

w

Kochi - Foray into Niche Petrochemicals

Funding for upstream developments and new assets

Mumbai Refinery – Upgrade/de-bottlenecking

Bina Refinery – Creeping Expansion

Investments in Gas

Kota – Jubner pipeline – Augmentation of existing product pipeline

Expansion of marketing infrastructure across all business areas

Investment of Rs. 40,000 crores on Upcoming and Ongoing project over the period

of next 5 years`

10

Projects completed to deliver better quality fuels & services

KOCHI CEMP - Rs. 4,600 crore

• Production of auto fuels conforming to Euro III – IV norms

• Capacity expansion by 40,000 bpd (2 MMTPA)

• All units are commercially commissioned

OTHER PROJECTS

• Bina Dispatch Terminal

• Bina Kota Pipeline

• Refregerated LPG storage and Handling facilities at JNPT & Uran LPG

plants commissioned

• 1332 Retail Outlets commissioned during 2012-13 Pro

jec

ts R

evie

w

11

2012-13 sales of 22.52 MMT of retail fuels,

Growth of 9.64% YOY

Throughput per outlet of 188 KL / month

during 2012-13, and 2072 outlets achieved

throughput of > 300 kl/pm (13% higher than

previous year)

Market leaders in alternate fuels

Re

tail S

tra

teg

ies

Achievements Thruput per Outlet BPC Vs.

Industry (KL)

Consolidation in retail fuel segment has led the market share

growth

Strategic expansion on highways

Concentrated focus on rural expansion

Commissioning of new outlets in high growth

markets

Premium fuels, Loyalty programs, value

added services

Strategies

0

20

40

60

80

100

120

140

160

180

200

BPC IOC HPC Industry

188

158 159156

2012-13

MS > 28.30%

HSD > 28.56 %

Retail Market Share of

MS & HSD

12

Initiatives driven by innovative ideas - Able to capture

customer imagination and build brands

Petro Card Customers > 0.91 mn

Smart Fleet Card Customers > 1.07 mn

Annual Turnover > Rs.18,422 crore

174 In & Out stores

Annual Turnover of Rs. 168 crore

Allied Retail Business (ARB) annual growth

by 5.10 %, with a turnover of Rs. 405 crore

ARB covers C-Stores, Quick Service

Restaurants, Financial and travel related

services

471 ATMs in alliances with 25 banks

110 ARB restaurants

18 ARB restaurants with turnover of more

than Rs. 50 lacs

Domestic LPG customers

touched 37.1 million mark

Auto LPG sales – annual

turnover of 70 TMT

Beyond LPG registered

Turnover of Rs. 908 crore

during 2012-13 against Rs.

892 crore during 2011-12

Selling large variety of non-

fuel products

LPG

Re

tail S

tra

teg

ies

13

Bina Refinery

Bharat Oman Refineries Limited (BORL) –

BPCL Interest 49% with 120,000 bpd (6

MMT) Refining capacity at BINA

State of art technologies - High Nelson

Complexity Index 9.1

Associated Facilities – SPM, Crude Oil

Terminal, 935-km cross country crude oil

pipeline from Vadinar to Bina (VBPL)

Graded improvement in operations with the

Refinery achieving more than 100% of the

design capacity in the recent months

GRM of 9.1 $/bbl during 2012-13

Re

fin

ing

in

itia

tive

Bina refinery to consolidate refining portfolio required to support downstream retailing market in Northern India.

Mumbai Refinery

Kochi Refinery

NRL Refinery

Pipelines :

BPRL’s Upstream Story over the years…….

Formation of E&P setup in BPCL

Formation

of BPRL

Brazil acquisition

Mozambique acquisition

2003

2006

2008

2010

First Mozambique discovery

Indonesia discovery

Entry into Shale Gas

8 discoveries

Joint operatorship in India

2004 – NELP IV

(3 blocks)

Entry into Australia and East Timor

2009

2007

2011

Initiated monetization of 17

discoveries. Lead Operator in

Indian Block

2012 Brazil - First hydrocarbon

discovery for BPRL

14

Up

str

ea

m O

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w

BPRL’s Global Spread

25 blocks in 6 countries

Discovery

location

Brazil*

BM-C-30 25%

BM-ES-24 30%

BM-SEAL-11 40%

20% BM-POT-16

1

3

4

2

Mozambique Area 1 Offshore 10% 1

Indonesia Nunukan 12.5% 1

Australia EP413 28% 1

East Timor JPDA 06/103 20% 1

Country Name of Block PI% Nos

India

KG Basin 10% 2

Cauvery Basin 20 %- 40% 3

Rajasthan 11.1% - 33.3% 2

* Held through 50-50 JV with Videocon Ind

Assam-Arakan 20% 1

Cambay 25% 2

Mumbai Basin 20% 1

17 Discoveries

15

Up

str

ea

m O

ve

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w

BPRL – A Snapshot :

12,500 Rs crs,

outlay till 2015-16 25 Wells planned in

2013-14

20 Partners 6 Countries in 14

geological basins

including coveted

ones

25 Blocks in advanced

stages of exploration

/ appraisal 10 Operators

5250 17 Discoveries so far Rs crs,

invested

16

Up

str

ea

m O

ve

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w

Mozambique (Offshore Area 1)

Mozambique poised to become the third

largest LNG exporter after Australia and

Qatar.

Progressing on development of a 2

Train 5 MMTPA each LNG plant

Planning for LNG park of 10 trains

FID in 2014

First gas expected in 2018

Estimated recoverable resources : 35 to 65 Tcf

of Natural Gas

17

Up

str

ea

m O

ve

rvie

w

Brazil Discoveries

BM-POT-16

Petrobras 60%

IBV Brasil 20 %

Petrogal 20%

BM-SEAL-11

Petrobras 60%

IBV Brasil 40%

BM-ES – 24 / 24A

Petrobras 40% / 70%

IBV Brasil 30 % / 30%

Anadarko 30% / 0%

BM-C-30 Anadarko 30% IBV Brasil 25 % BP 25% Maersk 20%

• Discovery of Hydrocarbons opened up a new frontier oil & gas

province in the Sergipe Alagoas Basin.

• 32-43 API Oil.

• Brazilian regulator (ANP) approved evaluation plan for Barra.

• 3 oil discoveries in 2012

• Discovery of Heavy Oil in the Espirito Santo Basin .

15 API Oil.

Consortium has submitted appraisal plan to ANP, the

Brazilian Regulator.

Barra, Farfan & Cumbe Discoveries

Grana Padano Discovery

• Discovery of Light Oil in the prolific Campos Basin.

31 API Oil.

Estimated Recoverable resources 200 MMBOE.

Brazilian regulator (ANP) approved evaluation plan.

• Potential First Oil expected in 2017.

Wahoo Discovery

* Bazil assets held through 50-50 JV with Videocon Ind 18

Up

str

ea

m O

ve

rvie

w

Indian and Australian Discoveries

• Discovery of Light Oil in Cauvery Basin.

• 35 API Oil.

• Oil flowed during testing at 700 - 1000 bbl/day and

Gas flowed at approx 11500 Cum/day.

• Appraisal plan submitted to Ministry for approval

• Hydraulic stimulation of Shale Gas well in EP –

413 in Perth Basin in Australia.

• Five Zones fractured – HC encountered in all

zones.

• Flowback in progress.

• Results encouraging, assessment in progress.

Madanam Discovery

Shale Gas

CY ONN 2002/2

19

Up

str

ea

m O

ve

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w

Strategic changes are ongoing…..

• Fine tune organizational structure, people processes and organizational energy, mindsets

and behaviour – Project Caliber

• Project WIN - Build cost competitiveness and value DNA across BPC

• Dream Project – Paving way for infrastructure growth

- Pipelines

- LPG import facilities , Retail Depots and tankages

- Refinery expansions and upgradation

- Well planned upstream investments

- Kochi - Niche entry into Petro-chem business

BPC fully poised to participate in the overall economic growth and financially secure to take major

investment decisions

20

Str

ate

gic

pe

rfo

rma

nc

e

Conclusion

21

Consolidate Existing

Business

Backward

integration in

Upstream

New Refining Capacity

BPCL is well poised to

have a bigger play in

the energy sector

22

Thank You

www.bharatpetroleum.in