Oil stock jumps 5% after it enters into JV with Petronet LNG and renewed 20-year partnership with Qatar Energy
Bengaluru, Feb. 8 -- The shares of a multinational public sector undertaking company gained up to 5 percent after the company came into JV with Petronet LNG Ltd, and renewed a 20-year Partnership for a Sale & Purchase Agreement ("LNG SPA") with Qatar Energy.
With a market capitalization of Rs 1.35 lakh crore, the shares of Bharat Petroleum Corporation Ltd were trading at Rs 631.05 per share, increasing around 5 percent as compared to the previous closing price of Rs 601.55 apiece.
According to the company filing, Bharat Petroleum Corporation Ltd formed a joint venture with Petronet LNG Ltd to extend a 20-year partnership for a sale and purchase agreement ("LNG SPA") with Qatar Energy for the long-term purchase of approximately 7.5 MMTPA...
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