Reliance BP Mobility adds 29 fuel outlets in H1 FY23

Reliance BP Mobility Limited has commissioned 29 state-of-the-art new outlets in H1 FY23, as the company continued servicing customers at all its outlets. The expansion, according to the company, has been achieved despite adverse operating environment. Jio-bp said it is committed to expanding its fuel retail footprint. 

“Jio-bp is committed to safeguarding interest of channel partners while meeting universal service obligations”, it added.
Simultaneously, Jio-bp said it is leveraging the country-wide energy transition with strengthening of its CNG footprint and working towards becoming the country’s largest fast charging network. 
“With 490+ live charging points and 80,000+ swap sessions till date alongside prestigious tender wins at over 1,200 sites, including Mumbai’s BEST, CESL and DTL in Tier 1 cities with high EV penetration, Jio-bp is well set to maintain the growth momentum in EV charging,” the company stated in its release.
Jio-bp, meanwhile, is setting up fast charging network for Mahindra dealers and supporting their launch line-up of e-SUVs.
Jio-bp said segment revenues for the second quarter of FY23 increased by 134.4 per cent year-in-year to Rs3,853 crore, led by higher production and improved gas price realisation.
KGD6 gas production during Q2 FY23 stood at 41 BCF (RIL’s share) against 39.2 BCF (RIL’s share) in Q2 FY22. With raising of gas price ceiling by the government for H1 FY23, average gas price realised for KGD6 stood at $9.86/MMBTU in Q2 FY23 against $3.62/MMBTU in Q2 FY22.
CBM gas production in Q2 FY23 stood at 2.43 BCF in Q2 FY23 against 2.62 BCF in Q2 FY22. Gas price realised for CBM was higher at $23.34/MMBTU(GCV) almost 3.5 times the realised prices in 2Q FY22.
The ceiling price applicable for KGD6 (R-Series/Sats) increased to ~ $12.46 / MMBtu for H2 FY23.
Segment EBITDA increased sharply to Rs3,171 crore, which is up almost 3 times on an annual basis while EBITDA margin expanded by 12.6 percentage points to 82.3 per cent.
Reliance BP said phase-II drilling and completion campaign for production hole drilling, Lower and Upper Completions at KG D6 – MJ Field Project is in progress while offshore installation campaign has been successfully completed.
Floating Production Storage and Offloading (FPSO) is currently at Kakinada anchorage after completion of sea-trials and commissioning of Hull and Topsides. After receiving necessary approvals and loading of materials, FPSO will move to field location for hook-up, offshore testing, pre-commissioning and commissioning activities.
Jio-bp expects production from MJ field to commence by end of the year. With the incremental production from MJ field, KGD6 block is expected to contribute around 30 per cent of India’s gas production, it added.