| Hindustan Petroleum Corporation Ltd.(HPCL) Related news |
ONGC keen to buy HPCL, deal to cost Rs 42,254 cr
Posted on 12th June 2017 |
.jpg) |
State-owned Oil and Natural Gas Corp (ONGC) is keen to acquire India's third-biggest fuel retailer HPCL in a Rs 42,254 crore deal after finding Bharat Petroleum Corp Ltd (BPCL) too expensive to buy. Following up on Finance Minister Arun Jaitley's Budget announcement of creating an integrated oil company, ONGC evaluated options of acquiring either Hindustan Petroleum Corp Ltd (HPCL) or BPCL - the two downstream oil refining and fuel marketing companies. |
|
|
HPCL gets environment clearance for Rs 230-cr pipeline expansion project
Posted on 9th June 2017 |
.jpg) |
State-owned fuel retailer Hindustan Petroleum has received environment clearance for expansion of Ramanmandi Bahadurgarh Petroleum Products Pipeline (RBPL), whose project cost is Rs 230 crore. Hindustan Petroleum Corp Ltd (HPCL) operates a 243 km long cross-country pipeline RBPL for transportation of various petroleum products. Its existing capacity is 4.71 million tonnes per annum and the company has proposed to enhance up to 8 million tonnes per annum for transportation of additional petroleum products. |
|
|
Government moots selling HPCL to ONGC for Rs 29,000 crore by December to create giant oil PSU
Posted on 1st June 2017 |
.jpg) |
The government is said to be planning to combine the state-run refiner Hindustan Petroleum Corp Ltd with the giant oil explorer Oil and Natural Gas Corp by December this year by selling its 51.1% stake in the former to the latter for $4.5 billion (about Rs 29,000 crore), ET Now reported citing wire reports, which in turn cited unidentified sources. The Ministry of Petroleum and Natural Gas is learnt to be in favour of adopting a subsidiary model for combining the two oil PSUs instead of merging the companies, making ONGC the parent company of HPCL, the report said. However, the government will decide final model of combining in few months, it added. |
|
|
Modi’s oil champions IOC, HPCL, ONGC on track to match $16 bn spending
Posted on 19th May 2017 |
.jpg) |
India’s state-owned oil companies aim to sustain spending near a three-year high, encouraged by falling oil-services costs and expanding demand. The country’s largest oil refiner Indian Oil Corp. will boost domestic spending by a quarter in the year to March 31 and smaller processor Hindustan Petroleum Corp. plans to invest about 17 percent more this year. Oil and Natural Gas Corp., the biggest explorer and top spender, plans to invest as much as last year. The 11 state-owned companies spent more than one trillion rupees ($16 billion) in the year ended March 31, the highest since 2014. |
|
|
HPCL seeks gasoil as refinery starts maintenance: Sources
Posted on 11th May 2017 |
.jpg) |
SINGAPORE: India's Hindustan Petroleum Corp Ltd is seeking gasoil amid planned maintenance at its 180,000 barrels-per-day Bathinda refinery, three industry sources said on Thursday. The company is seeking 60,000 tonnes of gasoil with a sulphur content of 40 parts per million for delivery into Visakhapatnam over May 25 to 30, a tender document seen by Reuters showed. The tender closes on May 15. |
|
|
HPCL, Lakshmi Mittal to invest $3 bn to set up Bhatinda petrochem unit
Posted on 5th May 2017 |
.jpg) |
State-owned Hindustan Petroleum Corporation Ltd (HPCL) and its partner Lakshmi N Mittal will invest about $3 billion in setting up a petrochemical complex at their Bhatinda refinery in Punjab. HPCL-Mittal Energy Ltd (HMEL), a joint venture between HPCL and Mittal Energy Investments Pvt Ltd, Singapore, plans to set up an up to 1.7-million tonne naphtha cracker unit to produce basic raw material that goes into making of plastics. |
|
|
Indian Oil, HP, Bharat Petroleum to spend Rs20,000 crore on LPG business
Posted on 1st May 2017 |
.jpg) |
State-run oil refiners plan to invest Rs20,000 crore by 2020 to meet rising demand for cooking gas, two officials from the companies said. The investments by Indian Oil Corp. Ltd (IOCL), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL) will go into setting up terminals to import liquified petroleum gas (LPG), laying pipelines, and building LPG bottling plants. |
|
|
HPCL, Rajasthan Govt ink revised MoU for proposed 9 MMTPA refinery
Posted on 18th April 2017 |
.jpg) |
Hindustan Petroleum Corporation Ltd (HPCL) and Government of Rajasthan have signed a revised memorandum of understanding (MOU) for HPCL’s proposed 9 million metric tonnes per annum (MMTPA) grass root refinery in the state, paving the way for the resumption of project, which was first announced four years ago. In March 2013, the then Congress-led state government had entered into an MoU with HPCL for establishing the complex in Barmer district at an estimated cost of over Rs 37,230 crores ($6 billion). After this, a JV agreement was signed in July 2013 between HPCL and the state government. |
|
|
HPCL calls for emergency board meet to clear Barmer's new fiscal package
Posted on 17th April 2017 |
.jpg) |
The much-awaited Rs 42,000-crore Barmer refinery in Rajasthan by state-run Hindustan Petroleum Corporation Ltd (HPCL) may get a fresh lease, as the ministry of petroleum and natural gas may sign a fresh memorandum of understanding with the Rajasthan government this week with revised fiscal package for the project. HPCL has called for an emergency board meeting to clear the revised terms and conditions of the project on Monday. On Tuesday, petroleum minister Dharmendra Pradhan and Rajasthan chief minister Chief Minister Vasundhara Raje will sign a fresh MoU on this in Jaipur. |
|
|
HPCL reworks fiscal pact for Rajasthan refinery, work to start
Posted on 6th April 2017 |
.jpg) |
State-owned HPCL’s long-pending 9 mtpa refinery at Barmer in Rajasthan will go on stream soon, with the state government agreeing to a revised fiscal package for the project, Oil Minister Dharmendra Pradhan said today. “Very soon, work will start on the Rajasthan refinery project. We have finalised the financial assessment,” he said at the Global Natural Resources Conclave here. |
|
|
|
|
|
|
|
|
