Bharat Petroleum Corporation Limited has issued an official clarification regarding contracts awarded to Technip Energies, emphasizing that these agreements constitute standard business operations within the company's operational framework.

Contract Classification

The state-owned oil marketing company has categorically stated that the contracts awarded to Technip Energies are part of routine business activities. These agreements have been classified as standard capital expenditure items within the company's financial planning and operational structure.

Business Operations Context

Bharat Petroleum has emphasized that the contractual arrangements with Technip Energies fall under normal business operations and do not represent any extraordinary or unusual commercial activities. The company appears to have issued this clarification to address potential market queries or concerns regarding the nature and scope of these business agreements.

Capital Expenditure Framework

The contracts have been positioned within Bharat Petroleum's capital expenditure framework, indicating that these agreements are part of the company's planned investment activities. This classification suggests that the contracts align with the company's strategic operational requirements and financial planning processes.

Market Communication

The clarification issued by Bharat Petroleum appears designed to provide transparency regarding the contractual arrangements and ensure that stakeholders understand the routine nature of these business operations. This communication reflects the company's commitment to maintaining clear disclosure practices regarding its commercial activities.

Bharat Petroleum has issued letters of intent totaling ₹4,117.00 crore to Technip Energies Limited for engineering and construction projects at its Bina and Mumbai refineries. The company provided this clarification to stock exchanges following media reports about the contract awards.

Contract Details and Scope

The letters of intent were issued on November 24, 2025, covering three distinct projects across BPCL's refinery operations:

The largest component involves Engineering, Procurement, Construction and Commissioning (EPCC) services for Polypropylene (PP) and Butene-1 units at the Bina Refinery, representing the majority of the total contract value.

Mumbai Refinery Projects

For the Mumbai Refinery, Technip Energies will provide Engineering, Procurement and Construction Management (EPCM) services for two separate initiatives. The first involves the Petro Resid Fluidized Catalytic Cracking (PRFCC) Unit, while the second covers the Hydrocracker Unit (HCU) revamp project.

Regulatory Compliance and Business Impact

BPCL emphasized that all contracted projects fall under ordinary business operations and represent standard capital expenditure for the company. The management stated they do not anticipate any price movement in BPCL shares due to these contract awards.

The company clarified that since these contracts were awarded in the ordinary course of business, there was no regulatory requirement to inform stock exchanges about the awards under SEBI (LODR) Regulations, 2015. BPCL confirmed no material impact on the company from the media coverage of these contracts.

Exchange Communication

The clarification came in response to queries from both BSE and NSE regarding media reports published on January 8, 2026. The exchanges sought information about the negotiations, events timeline, and potential impact on share trading. BPCL provided a comprehensive response detailing the contract sequence and confirming the routine nature of these business activities.