| Hindustan Petroleum Corporation Ltd.(HPCL) Related news |
Airtel bank to leverage HPCL fuel outlet network
Posted on 2nd August 2017 |
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Airtel Payments Bank on Tuesday announced a partnership with Hindustan Petroleum Corporation Ltd (HPCL) which will allow its customers to make cash deposits as well as withdraw money through HPCL fuel stations. All 14,000 HPCL fuel stations will act as banking points for Airtel Payments Bank, the company said in a statement. |
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IIM Lucknow signs MoU with HPCL to promote energy start-ups
Posted on 25th July 2017 |
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Indian Institute of Management, Lucknow (IIM-L) and Hindustan Petroleum Corporation Limited (HPCL) have signed a Memorandum of Understanding (MoU) for incubating innovative ideas and business start-ups in the domestic energy sector. Under the tie-up, the selected start-ups would be provided with seed funding and incubated at IIM-L Enterprise Incubation Centre (L-INCUBATOR). The MoU was signed recently during Startup Pitch Day at the Noida campus of IIM-L. |
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HPCL to retain its brand identity post ONGC deal, says Pradhan
Posted on 24th July 2017 |
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State-run Hindustan Petroleum Corporation (HPCL) will retain its cultural uniqueness and brand identity even after the strategic sale of 51.11 per cent government equity in the company to the Oil and Natural Gas Corporation (ONGC), Petroleum Minister Dharmendra Pradhan informed the Lok Sabha on Monday. The Cabinet Committee on Economic Affairs had given its in-principle approval for the sale of government equity in HPCL, along with the transfer of management control to ONGC, on July 19 this year. |
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ONGC-HPCL merger on Cabinet agenda today
Posted on 19th July 2017 |
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The proposed merger of Oil and Natural Gas Corporation (ONGC) and Hindustan Petroleum Corporation (HPCL) is on the agenda of the Union Cabinet meeting on Wednesday. The government is likely to give the control of HPCL to ONGC. “The ONGC-HPCL proposal could be taken up by the Cabinet,” a senior government official said. Petroleum Minister Dharmendra Pradhan has twice given public statements that the merger of ONGC and HPCL would be completed in the current financial year. |
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Insolvency case: HPCL drags Hindustan Motors to NCLT
Posted on 18th July 2017 |
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Hindustan Motors, which used to manufacture iconic car Ambassador, is the latest case for insolvency.
Hindustan Petroleum Corporation Limited (HPCL) has taken the company to National Company Law Tribunal (NCLT). |
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HPCL rallies over 10% in two days after merger announcement with ONGC
Posted on 13th July 2017 |
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Hindustan Petroleum Corporation Limited (HPCL) rallied 6% to Rs 382 in intra-day trade, extending its Wednesday’s 5% gain on the BSE, after the media report suggested that the merger of the company with Oil and Natural Gas Corporation (ONGC) is likely to take place soon. At 12:43 pm; the stock was trading 5% higher at Rs 376, against 0.66% rise in the S&P BSE Sensex. It is quoting close to its record high of Rs 390 (adjusted to 1:2 bonus shares) on February 14, 2017 in intra-day trade. ONGC, on the other hand, was down 2% to Rs 160, erases its entire previous day’s gain. |
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HPCL, ONGC merger moves Cabinet, but deal may still take 1 year after nod
Posted on 6th July 2017 |
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The Department of Disinvestment has reportedly issued a Cabinet note on the proposed amalgamation of the state-run refiner Hindustan Petroleum Corp Ltd with the giant oil explorer Oil and Natural Gas Corp, amid news reports of the Prime Minister’s Office’s disappointment on the slow progress in the government’s quest to create a huge energy PSU of the global scale. However, a deal may still not be immediately in sight, as the handover of HPCL to ONGC may take one year even after the government securing the Cabinet nod, hindi news channel CNBC Awaaz reported citing unidentified sources. |
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Modi steps in to speed up giant oil PSU plan? Cabinet nod for HPCL, ONGC merger likely by August
Posted on 29th June 2017 |
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The Prime Minister’s Office is apparently unhappy with the slow pace of movement on the proposed amalgamation of the state-run refiner Hindustan Petroleum Corp Ltd with the giant oil explorer Oil and Natural Gas Corp, a move towards the government’s ambition to create a giant energy PSU of the global scale. The PMO, however, is firm on merging the two oil companies, ET Now reported on Thursday citing an unnamed oil ministry official. |
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Daily revision of petrol, diesel rates: Fuel prices to change every morning from today, key takeaways
Posted on 16th June 2017 |
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Daily revision of petrol, diesel rates: Petrol and diesel prices will be changed on a daily basis. Starting today, the move by state-owned oil companies will mark a departure from the earlier practice of fortnightly revisions of rates, according to reports. Rates will change everyday depending on any movement in international oil rates. Yesterday, petrol price was reduced cut by Rs 1.12 per litre and diesel price was cut by Rs 1.24 per litre. Till now, prices were used to be revised on 1st and 16th of every month based on the fortnightly average of international oil price and the foreign exchange rate, the report says. |
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IOC, BPCL, HPCL sign agreement to set up $30 bn refinery
Posted on 15th June 2017 |
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State-owned oil firms IOC, BPCL and HPCL on Wednesday signed an agreement to jointly set up India's biggest refinery at Ratnagiri district of Maharashtra at a cost of $30 billion or Rs two lakh crore. Indian Oil Corp (IOC) will be the lead partner with 50 per cent stake while Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) will take 25 per cent stake each. |
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