Bharat Petroleum Corporation Limited — Others, 19-11-2024: Action(s) initiated or orders passed

BPCL will pay an Environmental Compensation of ₹1 crore as directed by the Central Pollution Control Board (CPCB) for not installing Vapour Recovery Systems (VRS) at 28 storage terminals within the specified timelines. The installation of VRS is reportedly in progress and at advanced stages. BPCL intends to request a reconsideration of the compensation requirement from the CPCB. This development poses a potential risk to BPCL's financial commitments but may be offset by successful compliance with VRS installation, which could positively influence investor sentiment looking towards corporate responsibility and operational efficiency.