Description

Stock exchanges sought clarifications from Bharat Petroleum Corporation Limited and Vedanta Limited regarding news articles about their business contracts and legal matters.

Summary

BSE sought clarifications from Bharat Petroleum Corporation Limited (BPCL) and Vedanta Limited regarding news articles published about their operations. BPCL clarified contracts awarded to Technip Energies for refinery projects worth Rs. 4,117 crore, stating these are ordinary course business transactions. Vedanta’s clarification refers to a previously disclosed matter regarding contract extension with Ministry of Petroleum & Natural Gas.

Key Points

  • BPCL issued Letters of Intent to Technip Energies Limited on November 24, 2025 for three projects
  • EPCC package for Polypropylene and Butene-1 unit at Bina Refinery: Rs. 3,600 crore estimated cash outflow
  • EPCM services for PRFCC Unit at Mumbai Refinery: Rs. 467 crore estimated cash outflow
  • EPCM services for Hydrocracker Unit revamp at Mumbai Refinery: Rs. 50 crore estimated cash outflow
  • BPCL clarified all contracts are in ordinary course of business and capital expenditure nature
  • BPCL does not envisage price movement in shares due to these contracts
  • Vedanta clarification refers to previously disclosed letter dated September 23, 2025 regarding Production Sharing Contract extension application

Regulatory Changes

No regulatory changes announced.

Compliance Requirements

  • Companies must respond to stock exchange queries regarding news articles under Regulation 30 of SEBI (LODR) Regulations, 2015
  • Companies required to clarify whether negotiations/events were taking place and provide chronological sequence
  • Companies must disclose if any undisclosed information could explain trading movement
  • Companies must assess and disclose material impact of news articles

Important Dates

  • November 24, 2025: BPCL issued Letters of Intent to Technip Energies Limited
  • September 19, 2025: Vedanta received intimation from Ministry of Petroleum & Natural Gas (previously disclosed)
  • September 23, 2025: Vedanta’s previous disclosure letter reference number VEDL/Sec./SE/25-26/113
  • January 8, 2026: Date of clarification letters from both companies to stock exchanges

Impact Assessment

Low impact circular. BPCL explicitly stated that the contracts are ordinary course of business and no price movement is expected. The total contract value of approximately Rs. 4,117 crore represents capital expenditure spread across multiple refinery modernization projects. Vedanta’s response references previously disclosed information from September 2025, indicating no new material developments. Both clarifications demonstrate compliance with disclosure norms under SEBI (LODR) Regulations, 2015.

Impact Justification

Routine clarifications on news articles. BPCL contracts are ordinary course of business with no expected price impact. Vedanta matter refers to previously disclosed information.