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Hindustan Petroleum Corporation Ltd.(HPCL) Related news
More PSU disinvestment: After HPCL, govt plans strategic stake sale in BPCL, four others
Posted on 25th September 2019
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.

HPCL buys 120,000 tonnes petrol for Sept-Oct delivery; still seeking more
Posted on 27th August 2019
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.


Rapid vehicle-battery swap scheme planned by HPCL
Posted on 17th August 2019
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.


HPCL re-files shareholding pattern for 6 quarters; lists ONGC as promoter
Posted on 14th August 2019
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.


Soon, cars will run on cooking oil: Indian Oil, BPL, HPCL working on this program
Posted on 10th August 2019
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.

HPCL June quarter performance falls short of expectations
Posted on 8th August 2019
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.


HPCL says trade war and US shale to keep lid on oil prices
Posted on 23rd July 2019
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.

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.


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