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Hindustan Petroleum Corporation Ltd.(HPCL) Related news
BPCL, HPCL take 25 per cent stake each in IOC’s Rs 9,000 crore LPG pipeline project
Posted on 4th June 2019
Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) have joined in the country’s longest LPG pipeline project being laid by state-owned Indian Oil Corp (IOC) to cater to cooking fuel needs of a fourth of the country’s population. BPCL and HPCL will take 25 per cent stake each in the Rs 9,000-cr project that involves laying of a pipeline from Kandla in Gujarat to Gorakhpur in Uttar Pradesh, the companies said in separate but almost identical regulatory filings.

HPCL hits 52-week high; stock surges 20% in two weeks on Q4 nos, oil slip
Posted on 31st May 2019
Shares of Hindustan Petroleum Corporation (HPCL) hit a 52-week high of Rs 330, up 4 per cent, after surging 20 per cent in two weeks on the BSE, lifted by strong earnings in March quarter (Q4FY19) and fall in crude oil prices. In comparison, the S&P BSE Sensex was up 5 per cent during the same period.

The stock surpassed its previous high of Rs 325 touched on June 18, 2018.


HPCL-MRPL merger hits cash hurdle; ONGC rules out share-swap
Posted on 29th April 2019
Hindustan Petroleum Corp Ltd’s plans to acquire Mangalore Refinery and Petrochemicals Ltd (MRPL) has hit a cash hurdle, with parent ONGC preferring a cash deal rather than a share-swap, sources aware of the development said.

Oil and Natural Gas Corp (ONGC), India’s biggest oil and gas producer, last year completed acquisition of Hindustan Petroleum Corp Ltd (HPCL) for Rs 36,915 crore.


HPCL, BPCL and Indian Oil Corp drop up to 3% as crude oil prices rise
Posted on 8th April 2019
Shares of oil marketing companies (OMCs) such as Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOC) dropped up to 3 per cent in the morning trade on Monday as the international crude oil prices rose to their highest level since November 2018, owing to OPEC's ongoing supply cuts, US sanctions against Iran and Venezuela, and strong US jobs data.

At 10:30 am, HPCL was trading over 3 per cent lower at Rs 255.15 apiece on BSE while BPCL was down 1.66 per cent at Rs 352. Shares of IOC were trading over a per cent lower at Rs 156.45 apiece on BSE.


HPCL wins Bengal gas bids
Posted on 28th February 2019
State-owned HPCL has bagged the rights to supply piped natural gas to households and CNG to automobiles in four cities in Bengal in the 10th round of city gas bids.

IOC won most of the cities in Bihar and Jharkhand, while Bharat Gas won one city in Jharkhand and Gail Gas two in the state.


HPCL Q3 net falls 87% to Rs 248 crore on inventory loss
Posted on 6th February 2019
Inventory losses and lower refinery margins affected finances of state-run Hindustan Petroleum Corporation (HPCL), which on Tuesday announced a 87% year-on-year (y-o-y) fall in net profit to Rs 248 crore during the December 2018 quarter. The comparable figure a year ago was Rs 1,950 crore.

The oil marketing company had made an inventory gain of Rs 1,477 crore in the December 2017 quarter against a loss of Rs 3,465 crore in the December 2018 quarter.


HPCL unlikely to partner Total for LPG cavern in Mangalore
Posted on 16th January 2019
State-run Hindustan Petroleum Corp. Ltd (HPCL) may build its second liquefied petroleum gas (LPG) cavern in Mangalore, Karnataka, said two company officials, requesting anonymity. HPCL is planning to build an underground LPG storage facility and had been in talks with France’s national oil company, Total SA, to partner it. Total SA is also HPCL’s partner in the first LPG cavern in Visakhapatnam, Andhra Pradesh.

HPCL, Mangalore Refinery merger may not happen this fiscal year
Posted on 9th January 2019
The merger of two Oil and Natural Gas Corporation (ONGC) subsidiaries — Mangalore Refineries and Petrochemicals (MRPL) and Hindustan Petroleum Corporation (HPCL) — is unlikely to happen in FY19.

A source close to the development said, “At this pace, the deal is unlikely to happen in FY19. Neither the MRPL board has taken up the proposal nor a consultant has been appointed in this regard."


HPCL releases 1.6 cr LPG connections under PMUY
Posted on 3rd January 2019
The Government on Wednesday gave out the 6-croreth free cooking gas (LPG) connection as the scheme to make available cleaner fuel in every household kitchens runs ahead of schedule. Government of India introduced ‘Pradhan Mantri Ujjwala Yojana’ (PMUY) for which budgetary provision of Rs 12,800 crore has been provided for releasing 5 Crores LPG connections to women member of BPL households by March’19 and additional 3 Crore LPG connections by March 2020.

AI startup Tranzmeo raises funding from HPCL
Posted on 27th December 2018
Mumbai: Artificial intelligence (AI) startup Tranzmeo, which is part of NASSCOM 10,000 Startups accelerator programme, has secured an undisclosed pre-seed funding from Hindustan Petroleum Corp. Ltd (HPCL) for its AI-powered product, T-connect OneView, the industry body said in a statement on Wednesday.

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