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HPCL aims for refining capacity of 60 million tonnes by 2030: Mukesh Kumar Surana
Posted on 9th September 2016
India's third biggest crude oil refiner, Hindustan Petroleum Corp (HPCL), plans to expand its refining capacity to more than 60 million tonnes annually, or about 1.2 million barrels of oil per day by 2030, according to a senior company official.

This will not only help the company fill the yawning gap between the volume it refines and the volume it markets through its retail outlets, but also help in meeting the burgeoning fuel demand in the country, said HPCL Chairman Mukesh Kumar Surana at a conference late on Thursday.

In a first, HPCL to launch dynamic fuel pricing
Posted on 7th September 2016
Mumbai: To beat competition from its own peers and private players, state-run Hindustan Petroleum Corp. Ltd (HPCL) has decided to experiment with dynamic fuel pricing at its fuel retail outlets, said two senior HPCL officials, on the condition of anonymity.

Currently, HPCL has launched dynamic pricing at a few of its retail outlets on a pilot basis, to be extended to other outlets across the country at a later stage.

HPCL, GAIL to divest up to 50% stake in petrochem plant in AP
Posted on 23rd August 2016
State-owned refiner Hindustan Petroleum Corp Ltd (HPCL) and gas utility GAIL India Ltd will divest up to 50 per cent stake in the Rs 30,000 crore petrochemical plant which is being set up in Andhra Pradesh.

HPCL and GAIL are looking at setting up a 1 million tonnes Ethylene Derivatives plant, which will produce a wide range of petrochemical raw materials for the manufacture of detergents, paints and coatings, cosmetics, textiles and adhesives.

RBI allows foreign investors to hike stake in HPCL
Posted on 6th August 2016
MUMBAI: Reserve Bank has allowed foreign investors to hike their stake in Hindustan Petroleum Corp to up to 40 per cent under portfolio investment scheme (PIS).

"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) from default can now invest from existing 24 per cent up to 40 per cent of the paid up capital of Hindustan Petroleum Corporation Ltd (HPCL) under PIS," an RBI notification said today.

ONGC, HPCL may sell stake in MRPL to meet public holding norms
Posted on 27th July 2016
State-owned Oil and Natural Gas Corp (ONGC) and Hindustan Petroleum Corp Ltd (HPCL) may sell a part of their stake in Mangalore Refinery and Petrochemicals Ltd (MRPL) to comply with regulations on minimum public holding.

Public shareholding in the Mangalore-based refiner is currently just 11.42 per cent, not even half of the mandatory 25 per cent public float required by the Securities and Exchange Board of India (SEBI) for listed companies.

HPCL hits new high as board approves 2:1 bonus issue
Posted on 21st July 2016
Hindustan Petroleum Corporation Limited (HPCL) has rallied 10% to Rs 1,233, also its record high on the BSE in intra-day trade after the company announced that the board has recommended issue of bonus shares in the ratio of two for every one held.

β€œThe board of directors of the company at its meeting held on July 20, 2016, have recommended capitalisation of reserves and issue of fully paid bonus shares in the ratio of 2 (two) bonus equity share of Rs 10 each for every 1 (one) existing equity share of Rs 10 each,” HPCL said in a regulatory filing.

HPCL, BPCL, IOC closes at lifetime high
Posted on 19th July 2016
Shares of oil marketing companies (OMCs) are on a roll with all three listed firms – Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) – closing at their respective lifetime highs on the Bombay Stock Exchange (BSE) on Tuesday. These stocks closed higher between 3%-5%, as compared to 0.15% rise in the S&P BSE Sensex today.

Hindustan Petroleum capex plans prioritise investment
Posted on 13th July 2016
In its analyst meet on Friday, Hindustan Petroleum (HPCL) management raised its standalone capex guidance significantly to `534 billion over FY17-21 vs. `310 billion over FY16-20 earlier.

Majority of the capex increase appears to be in the marketing segment which management attributed to new LPG bottling plants, lube blending plants and product pipelines.

HPCL raises core capex guidance for five years: Jefferies
Posted on 12th July 2016
In its analyst meet on Friday, HPCL management raised its standalone capex guidance significantly to R53,400 crore over FY17-21 vs R31,000 crore over FY16-20 earlier.

Majority of the capex increase appears to be in the marketing segment which management attributed to new LPG bottling plants, lube blending plants and product pipelines.

Indian Oil, BPCL and HPCL may hold 51% stake in Maharashtra refinery
Posted on 11th July 2016
Mumbai: Indian Oil Corp. Ltd (IOCL), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL) may jointly hold a 51% stake in a large refinery and petrochemical complex proposed to come up in coastal Maharashtra, two people familiar with the development said.

The state government and a strategic investor who is yet to be brought in will hold the rest.

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