HPCL

This is an unnecessary overhang, since the company has not been on an investment spree

Analysts said Street is worried that sustained oil price hike could put pressure on OMC margins as govt may not pass the entire burden on to customers

EV charging network provider Statiq on Monday said it has won a contract from public sector oil marketing firm HPCL for setting up over 500 EV chargers across 12 states. Under the contract, the firm will install over 500 chargers, for all types of electric vehicles including two and four-wheelers, at HPCL's outlets spread across Andhra Pradesh, Assam, Chhattisgarh, Gujarat, Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, Orissa, Rajasthan, Tamil Nadu and West Bengal, the company said in a statement. Of the total 500 chargers, over 400 chargers will be of 3.3 kw capacity each while a few more than a hundred chargers will be of 7.7 kw capacity each, it stated. "With HPCL undertaking a major and country-wide exercise in terms of setting up EV charging stations at their petrol pumps, we have won this tender and become a part of their EV infrastructure building up journey, said Aman Rehman, head of government relations at Statiq. Statiq last year had installed nearly 200 chargers

Hindustan Petroleum Corporation Ltd (HPCL) on Thursday said it has signed a pact with Bharat Petroleum Corporation Ltd (BPCL) for synergy in purchase and sale of hydrogen between the refineries the two firms operate in Mumbai. Hydrogen is an essential utility required for treating of diesel and petrol to produce low-emission fuel of Euro-VI or Bharat Stage VI specifications, and is vital for reliable and safe refinery operations. "A Memorandum of Understanding (MoU) was signed between HPCL Mumbai refinery and BPCL Mumbai refinery as part of synergy through purchase and sale of hydrogen," the company said in a statement. The one-of-a-kind strategic partnership between two oil marketing companies is part of synergy for "mutual aid during emergencies and towards environmental impact by minimizing valuable hydrogen flaring," it said. "This initiative envisages cooperation and collaboration as part of synergy in the areas of hydrogen exchange between both refineries for sustained refiner

Stocks to watch today: From Cipla to Axis Bank, here are top stocks to watch out in Wednesday's trading session

Hindustan Petroleum Corporation Ltd (HPCL) has entered into an agreement to manufacture, distribute and market lubricants of global supermajor Chevron in India, the two companies said on Tuesday. "Chevron Brands International LLC (Chevron), a subsidiary of Chevron Corporation, has entered into a long-term trademark licensing agreement with HPCL. This collaboration encompasses the licensing, production, distribution, and marketing of Chevron's lubricant products under the Caltex brand, including Chevron's proprietary Havoline and Delo branded lubricant product," they said in a statement. The agreement provides for "Caltex-branded lubricants to be manufactured, distributed, and marketed in India by HPCL". HPCL already has its own brand of lubricants and this would be in addition to the existing ones. Commenting on the agreement, Brant Fish, President of Chevron International Products, stated, "We are extremely pleased to partner with HPCL to bring quality Caltex lubricants technology

The Barmer refinery and petrochemical project will produce gasoline and gasoil for retail sales and will use naphtha, liquefied petroleum gas and kerosene as feedstock to make petrochemicals

India's state-run Hindustan Petroleum Corp is facing difficulties in paying for Russian oil imports following a Dec. 5 price cap imposed by Western nations as banks shy away from processing payments

Petroleum Minister Puri to take stock of the delayed project on Tuesday

After two consecutive quarters of losses, Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported a net profit of Rs 172.43 crore in October-December 2022 as a fall in oil prices helped it recoup some of the losses on sale of petrol and diesel. Standalone net profit of Rs 172.43 crore in the third quarter of the current fiscal compared with Rs 868.86 crore profit in the same period a year back, according to a stock exchange filing by the company. HPCL and other state-owned fuel retailers did not revise petrol and diesel prices when international oil prices touched multi-year high last year. That led to them booking losses in two back-to-back quarters. However, rates softened in the third quarter. This should have warranted a reduction in petrol and diesel prices but the oil companies held on to retail prices to recoup the losses they had booked in the previous six months. Revenue from operations rose to Rs 1.15 lakh crore from Rs 1.03 lakh crore in October-December 2021. T

India, the world's third biggest oil importer and consumer, buys over 80% of its oil needs from overseas

National auditor says state-owned companies make monthly adjustments that aren't best for saving costs, efficiency

Stocks to watch today: Wipro inked multi-year digital transformation partnership with fintech firm Finastra; HPCL aims to raise around Rs 10,000 crore in debt to fund oil refining operations

Hindustan Petroleum Corporation Ltd (HPCL) will raise Rs 10,000 crore in debt from domestic or overseas market to fund its oil refining and fuel marketing operations, the company said on Thursday. The board of the company at its meeting on Thursday "approved a proposal for borrowing through further issuance of secured/unsecured redeemable non-convertible debentures/bonds/notes etc. up to Rs 10,000 crore on private placement basis in the domestic market and/or in the overseas market from the date of such approval". In a stock exchange filing, HPCL said the borrowing was within the overall borrowing powers of the company. Separately, the company raised Rs 750 crore through issue of debentures on private placement basis to refinance "existing borowing and/or funding of capial expenditure". The 10-year debenture will carry a coupon rate of 7.54 per cent per annum.

ONGC reported standalone earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Rs 18,810 crore

Their expectation is based on the recent action in October by the OPEC of cutting production by 2 million barrels per day. This suggests that the OPEC is looking to defend price, they said

Although the Indian crude basket fell from an average of $109.5 per barrel in Q1 to an average of $97.87 a barrel in Q2, prices remained high in absolute terms

The company blamed depressed marketing margins on motor fuels and LPG as the main reason for its profitability being impacted over the latest quarter

Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported Rs 2,172.14 net loss in July-September after losses arising from freezing petrol and diesel prices couldn't be made up by accounting for a one-time government grant that came after the quarter had ended. Standalone net loss of Rs 2,172.14 crore in the second quarter of the current fiscal year compares to Rs 1,923.51 crore profit in the same period last year, according to the company's filing to the stock exchanges. This is the first time that the company posted a back-to-back quarterly loss. HPCL posted a record of Rs 10,196.94 crore in the April-June quarter. Just like HPCL, Indian Oil Corporation (IOC) - the nation's largest oil firm - too had posted a second straight quarterly loss as state-owned firms sold petrol, diesel and cooking gas (LPG) at rates below cost to help the government contain inflation. The loss in the second quarter of the current fiscal was despite accounting for a one-time grant that the governm

A higher than expected production cut by the group will add to the strain on government finances