| Hindustan Petroleum Corporation Ltd.(HPCL) Related news |
HPCL, BPCL, Indian Oil poised for gains with oil prices at 18-year low
Posted on 1st April 2020 |
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Investor sentiment towards state-owned oil marketing companies (OMCs) such as Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOC) has improved sharply with crude oil prices falling to 18 year low. Shares of the OMCs, after hitting 52-week lows recently, rebounded by up to 15 per cent on Tuesday. And, they could see further gains.
The soft crude oil prices bode well for these companies, which may see a rise in their marketing margins, decline in working capital requirements and zero risks of subsidy burden. |
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HPCL, BPCL tank over 4% after crude oil prices rise for second straight day
Posted on 11th March 2020 |
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Shares of oil marketing companies (OMCs), including Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL), skid up to 4 per cent on the BSE after oil prices rose for the second straight day on Wednesday.
At 9:43 am, Brent Crude Futures were at $38.45 per barrel-mark, up 3.3 per cent, while the US WTI was at $35.26/bbl, up 2.62 per cent. This comes after an over 8 per cent rise in the oil prices on Tuesday. Prices inched higher on hopes of a supply cut by US producers. |
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Oil-linked stocks trade weak as oil prices continue to surge; HPCL down 5%
Posted on 6th January 2020 |
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Shares of oil & gas companies, tyre, paint, and aviation firms were under pressure on Monday as oil prices continued to surge after US President Donald Trump issued a threat to impose sanctions on Iraq amid escalating tensions with Iran in the Middle East.
At 09:40 am, Brent crude futures were trading 2.70 per cent higher at 70.45 USD/bbl while WTI Crude Oil (Nymex) were trading at 64.54 USD/bbl, up over 2 per cent. |
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More PSU disinvestment: After HPCL, govt plans strategic stake sale in BPCL, four others
Posted on 25th September 2019 |
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Carrying forward its divestment plan, the government is mulling over stake sale in the five central public sector enterprises (CPSEs), CNBC TV18 reported citing unidentified sources. The government may seek cabinet nod for strategic stake sale in the state-owned BPCL, CONCOR and SCI, the report added. In addition, approval will also be sought for acquisition of THDC by NTPC and NEEPCO by NHPC, it also said. |
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HPCL buys 120,000 tonnes petrol for Sept-Oct delivery; still seeking more
Posted on 27th August 2019 |
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Hindustan Petroleum Corp Ltd is seeking more petrol after having purchased more than 120,000 tonnes of the fuel for September to early October delivery from the spot market to plug a supply gap, industry sources said on Tuesday. The state-owned refiner has been actively seeking petrol from the spot market this year as Indian refiners undergo maintenance and upgradation to produce cleaner fuels. |
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Rapid vehicle-battery swap scheme planned by HPCL
Posted on 17th August 2019 |
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Bracing for a future with less-polluting fuels, state-run refiner Hindustan Petroleum is planning a pilot programme for swapping batteries of electric two- and three-wheelers at its outlets by December, according to people familiar with the matter. The initiative is aimed at helping the company maintain its grip on a segment of the mobility market that’s rapidly shifting to cleaner power sources, said the people, who asked not to be identified because the plans aren’t public. The ultimate capacity of the programme hasn’t been decided. |
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HPCL re-files shareholding pattern for 6 quarters; lists ONGC as promoter
Posted on 14th August 2019 |
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After a rap from market regulator Sebi, Hindustan Petroleum Corp Ltd (HPCL) has re-filed shareholding pattern of the company for last six quarters, listing its majority owner Oil and Natural Gas Corp (ONGC) as a 'promoter'. The Securities and Exchange Board of India (Sebi) had asked HPCL to re-file shareholding pattern to stock exchanges by August 13, 2019 for all quarters since Oil and Natural Gas Corp (ONGC) acquired government's entire stake in the refiner in January 2018. |
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Soon, cars will run on cooking oil: Indian Oil, BPL, HPCL working on this program
Posted on 10th August 2019 |
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In a move that may fulfil Prime Minister Narendra Modi’s dream of reducing India’s dependence on energy imports, state-run fuel retailers — Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp will soon start a collection drive for its ambitious program that aims at converting used cooking oil to biodiesel. These oil corporations are expected to float an Expression of Interest application for procurement of Used Cooking Oil across 100 cities, Ministry of Petroleum and Natural Gas said in a statement on Thursday. |
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HPCL June quarter performance falls short of expectations
Posted on 8th August 2019 |
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State-run oil refining and marketing company Hindustan Petroleum Corp. Ltd’s (HPCL) June quarter results are nothing to write home about. Net profit of ₹811 crore missed Bloomberg’s consensus estimate of ₹1,002.5 crore. “Compared to its peer Indian Oil Corp. Ltd that reported strong results last week, HPCL reported a weak set of results," said brokerage firm Nomura Financial Advisory and Securities (India) Pvt. Ltd. |
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HPCL says trade war and US shale to keep lid on oil prices
Posted on 23rd July 2019 |
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The U.S.-China trade war and the growth of American oil supply will keep crude prices in check, notwithstanding Middle East tensions, according to the head of one of India’s biggest refiners. Brent crude will likely remain in a range of $60 to $70 a barrel and could fall toward $60 if demand worsens, said Mukesh Kumar Surana, the chairman and managing director of Hindustan Petroleum Corp. The global benchmark was trading at around $63 a barrel on Monday. |
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