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Hindustan Petroleum Corporation Ltd.(HPCL) Related news
Morgan Stanley turns cautious on HPCL, BPCL shares on petrol price cut
Posted on 8th October 2018
After the government last week announced reduced excise duty on fuel by Rs 1.50 a litre and asked oil companies to absorb a Re 1 slash, global firm Morgan Stanley see heightened pressure for oil and gas majors HPCL and BPCL. Notably, Morgan Stanley says that the development will have a material earnings impact, if the slash continues even after 2019 elections. The lack of policy clarity also adds to the challenges, notes Morgan Stanley.

BPCL, HPCL, IOCL tank up to 29% as government cuts fuel prices
Posted on 5th October 2018
Shares of state-owned oil & gas companies, including oil marketing companies (OMCs), are reeling under pressure falling by up to 29% on the BSE in intra-day deals, extending their Thursday’s fall after the government, on Thursday, asked the them to absorb a Re 1 a litre cut in excise duty on petrol and diesel. The government also cut the excise duty on petroleum products by Rs 1.50 a litre with immediate effect. This is the first time in over four years that prices of either petrol or diesel are being controlled.

Tata Power, HPCL partner to set up electric vehicle charging stations
Posted on 27th September 2018
Private power producer Tata Power and state-run Hindustan Petroleum Corporation (HPCL) on Thursday announced a memorandum of understanding (MoU) for setting up the electric vehicle (EV) charging stations at HPCL retail outlets and other locations across India. The two companies will also explore other opportunities for collaboration in renewable energy.

Hindustan Petroleum Corp enters into a long-term agreement with HMEL
Posted on 22nd September 2018
Hindustan Petroleum Corporation (HPCL) on Friday entered into a long-term agreement with HMEL (HPCL-Mittal Energy) for operations and maintenance of its newly-commissioned bitumen terminal at Bathinda.

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. The agreement is for storing, handling and dispatching the product.


Adani, IOC, BPCL, Torrent big winners of city gas licences
Posted on 17th September 2018
Oil regulator PNGRB Monday declared the final list of winners of city gas retailing licences that had billionaire Gautam Adani’s group, state-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Torrent Gas as the big winner. Adani Gas won rights to retail CNG to automobiles and piped cooking gas to households and industries in 13 cities on its own and another nine, including Allahabad, in a joint venture with IOC,

50% cost reduction eyed: BPCL, HPCL, IOC plan to share pipeline infra to reduce cost
Posted on 5th September 2018
Public sector oil companies — HPCL, BPCL and IOC — are planning to share the investments for upcoming product and gas pipelines across the country that will help them reduce the capital expenditure on pipelines and enter newer markets at less than 50% of the original project cost.

The companies have already identified around 5-6 major pipeline projects where they plan to share the infrastructure, senior company officials said.


Road to expansion: HPCL to raise $500 m in medium-term bonds
Posted on 1st September 2018
Hindustan Petroleum (HPCL) is planning to raise $500 million in medium-term bonds for its expansion projects in the January-March quarter of 2019, a senior company official said.

J Ramaswamy, director, finance, HPCL, told FE, “The company will start the prepartory work by November-December and will hit the market in the January-March quarter. The tenure of the bond will depend on the inflows from the expansion projects, which will start from July onwards.”


HPCL arm Prize Petroleum takes a ₹ 24.41 crore hit
Posted on 20th August 2018
Mumbai: Bad prospects have forced state-run Hindustan Petroleum Corp. Ltd (HPCL) to relinquish 19 of its 21 exploration and production blocks, ending its upstream ambitions. In its 2017-18 annual report, HPCL also said the net worth of its fully owned exploration and production subsidiary Prize Petroleum Co. Ltd has partially eroded.

HPCL to raise 12,000 crore via NCDs, bonds
Posted on 13th August 2018
Mumbai: State-run Hindustan Petroleum Corp. Ltd (HPCL) has sought shareholder nod to borrow as much as 12,000 crore by selling debentures and bonds, according to its FY18 annual report. “Approval of the members of the company by way of special resolution is sought for private placement of unsecured/secured redeemable non-convertible bonds (NCDs)/debentures up to 12,000 crore (from domestic as well as overseas markets)

ONGC is HPCL promoter, no confusion about it, says Dharmendra Pradhan
Posted on 10th August 2018
Petroleum minister Dharmendra Pradhan on Thursday said national oil explorer ONGC is the promoter of oil marketing company HPCL and “there should be no confusion about it”. FE had earlier reported that though HPCL was taken over by ONGC in January this year, the former is yet to recognise the upstream major as its promoter in the mandatory quarterly filings with the stock exchanges.

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