Bharat Petroleum advances SAF project with refinery revamp
pre-market1 source ↓machine-written, see hownot a recommendation
- BPCL close
- ₹293.70
- On the day
- +1.40%
- Futures OI, long build-up
- +4.1%
- Put-call ratio
- 0.72
- Max pain
- ₹300.00
Bharat Petroleum Corporation Limited signed a licensing agreement with Topsoe to produce sustainable aviation fuel at its Mumbai Refinery. The project will revamp an existing 4,000 metric tonnes per day unit to co-process 5% used cooking oil with conventional feedstock, allowing SAF production through current refinery infrastructure rather than a dedicated new unit. The final investment decision has been completed, work is underway and commissioning is expected by the end of 2026. ⚡
The agreement extends a two-decade relationship between the companies and gives the refinery a route to add renewable feedstock processing within an existing asset base. For the energy sector, the project links refinery flexibility with rising demand for lower-carbon aviation fuels. The article did not disclose the contract value or the expected SAF output, so the financial contribution cannot be quantified from the available details. ✈️
OI Charts data showed the stock closed at ₹293.70 on 15 Oct 2026, up 1.4% on the day, with volume of 6,111,673 shares. It had gained 2.6% over five sessions but remained down 3.2% over 20 sessions, while its 52-week range stood at ₹266.60 to ₹391.65. Futures open interest rose 4.1% to 43,760,075 shares, indicating a long build-up as the futures traded at a 0.26% premium to the cash market. 📈
For the 27 Oct 2026 expiry, the put-call ratio was 0.72 and max pain stood at ₹300. The largest call open interest was at ₹300, while the largest put open interest was at ₹280. These levels frame the immediate derivatives positioning, with 12 days remaining to expiry as of the session. Traders will next watch commissioning progress, the eventual SAF production ramp-up and any disclosure on volumes, economics or additional renewable-feedstock projects. The ₹300 call-open-interest zone and ₹280 put-open-interest zone are the key near-term levels from the derivatives data.
Source: Biomass Magazine, 15 Oct 2026
Not investment advice. For informational purposes only.