Page 8 - Hpcl

Govt may sell entire stake in BPCL worth Rs 40,000 cr, IOCL likely suitor

If it goes through, an IOCL-BPCL merger will be the third mammoth amalgamation of state-owned companies, excluding banks, in three years

OMCs bounce back to sweet spot as crude oil prices slip, GRMs improve

Declining crude oil prices, improving GRMs, and firm marketing margins make them attractive after sharp correction

HPCL buys 120,000 tonnes petrol for Sept-Oct delivery; still seeking more

HPCL's latest tender is for 30,000 tonnes of petrol scheduled for Oct. 5-8 arrival at Vizag and offers are to be submitted by Aug. 28

HPCL to invest Rs 74,000 crore in next five years to expand capacity

The Navaratna company plans to invest around Rs 14,900 crore in the current fiscal, chairman Mukesh Kumar Surana told shareholders

ONGC adopts Energy Strategy 2040; targets doubling of oil, gas production

State-owned Oil and Natural Gas Corp (ONGC) has set a target to double oil and gas output from its domestic and overseas fields and expand its refining capacity three-fold alongside diversification into renewables in a new vision document for 2040, its Chairman Shashi Shanker said. ONGC Energy Strategy 2040 envisions the company as "A diversified energy company with a strong contribution from non E&P business; 3x revenues and about 5-6x market capitalisation," he said. The firm produced 24.23 million tonnes of crude oil in the 2018-19 fiscal year and 25.81 billion cubic metres (bcm) of natural gas from its domestic fields. Another 10.1 million tonnes of oil and 4.736 bcm of gas were produced from its overseas assets. It had a turnover of Rs 109,654 crore and a net profit of Rs 26,715 crore in the year ended March 31, 2019. As on August 16, it had a market capitalisation of Rs 164,458 crore. In the company's latest annual report, Shanker said the ONGC board recently approved the ...

HPCL plans to rectify shareholding pattern, accepts ONGC as a promoter

Sebi asked HPCL to re-file shareholding pattern to stock exchanges by August 13 for all quarters since Oil and Natural Gas Corp (ONGC) acquired government's entire stake in the refiner in January 2018

HPCL to shut some secondary units at refineries to upgrade for Euro-VI fuel

HPCL also plans to shut a gasoline deslphuriser at its 150,000 bpd Mumbai refinery in the western state of Maharashtra for 15-20 days in December

India considers cutting west coast refinery capacity as demand falls

Also, the unit will now be set up in Raigad district as land acquisition at a previous site in Ratnagiri district was stalled due to farmer protests

Tata Motors, Tata Power to install 300 charging stations in five cities

Over the next two months, they plan to install 45 more chargers across other four cities

HPCL refuses to recognise ONGC as promoter, 18 months after merger

Since acquiring a majority stake in HPCL, ONGC has only been able to appoint one director to that firm's board

Govt recognises ONGC as HPCL's promoter after 15-month impasse

In regulatory filings for five consecutive quarters, HPCL listed 'President of India' as its promoter with 'zero' per cent shareholding

HPCL Q4 net profit jumps 70% to Rs 2,970 crore on inventory gains

Turnover rose to Rs 72,840 crore in January-March from Rs 66,351 crore a year back

HPCL doesn't see ONGC as promoter, to face real test in selecting directors

ONGC bought govt's entire 51.11% stake in HPCL for Rs 36,915 crore. HPCL thereafter became its subsidiary but HPCL management has continuously refused to recognise ONGC as its promoter

Bombay High Court sets aside arbitration award of $113 mn to HPCL

In 2017, HPCL was awarded the amount after an arbitration board found that Malaysia's M3nergy had delayed the finalising of a consortium agreement

Oil town blues: How greed, polls and politics keep a village on the edge

Sonia Gandhi's 2013 announcement for a multi-billion dollar refinery caused a money stampede, but Modi's 2018 promise has made villagers of Pachpadra suspicious

HPCL Q2 net profit down 37% at Rs 11 bn; merger with MRPL to happen in FY20

The company has decided to shut down all its refineries for a short duration to upgrade to BS-VI fuel norms

EIL wins Rs 50 bn project from HPCL Rajasthan Refinery

State-owned Engineers India Ltd Saturday said it bagged Rs 5,000 crore project execution order from HPCL Rajasthan Refinery Limited (HRRL). Prime Minister Narendra Modi earlier this year laid the foundation stone for the 9-million tonne or 1.8 lakh bpd greenfield refinery at Pachpadra village in Barmer district of Rajasthan being set up in a 75:25 joint venture with the state administration. "HPCL Rajasthan Refinery Limited (HRRL) has entrusted the project for execution of Rajasthan Refinery Project to EIL. The company execute this project under two separate contracts, namely PMC Services for Execution of RRP and Execution of Residual Utilities & Offsite for RRP on Open Book Estimate (OBE) basis, EIL said in a regulatory filing on stock exchanges. The total awarded order value is more than Rs 5,000 crore with a total project schedule of mechanical completion by October 2022, it said.

Hindustan Petroleum Corp enters into a long-term agreement with HMEL

HMEL recently set up a bitumen blowing unit with a capacity of 550 million tonne per annum different grades of bitumen plant at Guru Gobind Singh Refinery, Bathinda

$60 a barrel ideal oil price for India as it will bring investments: HPCL

The decision by Opec came after major consumers like the United States, China and India urged the oil producing lobby to raise the supply of crude oil to avert an oil deficit

HPCL assets valued at over 70% of its m-cap

The higher valuation of HPCL's assets by JM Financial, if accepted by the government, would mean a higher outgo for ONGC