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State-owned oil marketing companies gain; BPCL hits new high
Posted on 27th June 2016
Shares of state-owned oil marketing companies such has Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) were trading higher between 2%-5% on the bourses as oil prices dropped on Monday, extending Friday’s sharp decline after Britain's vote to leave the European Union.

“Brent crude futures were down 15 cents at $48.26 a barrel by 0238 GMT on Monday, after settling down $2.50, or 4.9 percent, at $48.41 on Friday,” the Reuters report suggests.

IOC, BPCL clinch deal with RIL, Essar to restart diesel buy
Posted on 7th June 2016
State-owned IOC, BPCL and HPCL have struck a temporary deal with Reliance Industries and Essar Oil to resume buying petrol and diesel from private refiners on revised terms.

Short of own production, state refiners Indian Oil Corp (IOC), Hindustan Petroleum Corp (HPCL) and Bharat Petroleum Corp (BPCL) buy about 12 million tonnes of diesel annually from Jamnagar refineries of RIL and the Vadinar unit of Essar.

Remain positive on HPCL’s refining cycle: Nomura
Posted on 7th June 2016
After the strong Q3, we had expected Hindustan Petroleum (HPCL)’s Q4 to be stronger. HPCL reported stronger than our expectations and beat our earnings estimates for both refining and marketing. Q4 EBITDA of `25.9 billion (+19% q-o-q) was 10% ahead of our estimate. Refining GRM was $7.5/bbl, vs our estimate of 5.8/bbl. The discount to Singapore complex margin remains very low at -$0.3/bbl (-$0.1/bbl in Q3).

HPCL BPCL profits down
Posted on 28th May 2016
Hindustan Petroleum Corporation Limited (HPCL)'s performance for the quarter ended March, like that of Bharat Petroleum Corporation Limited (BPCL), was impressive and much ahead of estimates.

HPCL' profit at Rs 1,553 crore declined 28.2 per cent year-on-year (y-o-y), but beat Bloomberg consensus estimate of Rs 1,087 crore by 43 per cent. The topping of the estimate was led by better-than-expected operating performance. Ebitda at Rs 2,643 crore was substantially higher than Rs 2,378-crore Bloomberg consensus estimate.

HPCL plans $3.8 billion refinery investment to lift capacity by two-thirds
Posted on 19th April 2016
MUMBAI: Hindustan Petroleum Corp plans to invest around $3.8 billion to ramp up its refining capacity by two-thirds this decade, as the country's oil demand soars and to meet cleaner fuel standards, a company official told Reuters.

Fuel demand in India - the world's third-biggest oil consumer - is rising at its fastest clip in more than a decade, buoyed by Prime Minister Narendra Modi's manufacturing push and as an expanding middle class buys more cars.

Cabinet may redo PSU refiners’ model to help IOC, BPCL, HPCL take on pvt sector peers like RIL, Essar
Posted on 6th April 2016
The Prime Minister Narendra Modi-headed Union Cabinet on Wednesday is likely to take up a proposal that would overhaul the crude procurement process for government-owned refiners- IOC, BPCL, HPCL and MRPL. The move is aimed to make the refiners more competitive like their private peers such as RIL and Essar Oil and take benefits of spontaneous buying of cargoes.

Sources told FE that the petroleum ministry has sent the final proposal for clearance from the Union Cabinet, which is likely to decide on it on Wednesday.

BPCL, HPCL, IOC gain as Credit Suisse maintains ‘outperform’
Posted on 15th March 2016
Shares of oil marketing companies such as Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation (HPCL) gained on Tuesday after Credit Suisse maintained its “outperform” rating on fuel retailers, citing refining margins to remain strong for oil retailers as demand-supply tightens.

BPCL, IOC and HPCL closed 0.97 per cent, 2.10 per cent and 2.53 per cent higher at Rs 810.60, Rs 392.95 and Rs 740.40, respectively.

Lighter and safer gas cylinders on their way; HPCL places orders for 5,000 cylinders
Posted on 16th February 2016
NEW DELHI: In a few months, colourful, lighter and easier-to-handle cooking gas cylinders will make their way into Indian kitchens, long used to heavy and potentially hazardous steel containers. Most importantly, the new composite cylinders, made of fibre, will be safer because they do not explode even when engulfed in fire, potentially saving thousands of lives, who fall victim to kitchen accidents every year.

HPCL, BPCL, IOC gain on strong Q3 results
Posted on 15th February 2016
Shares of state-owned oil marketing companies (OMCs) – Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) – have rallied by up to 10% on the BSE in early morning trade after these companies reported a strong set of numbers for the quarter ended December 31, 2015 (Q3FY16).

All these companies posted a combined net profit of Rs 5,588 crore in Q3FY16 against net loss of Rs 2,411 crore in the same quarter last fiscal. It had reported an aggregate net profit of Rs 368 crore in September 2015 quarter.

Oil firms see uptick in sale of branded fuel
Posted on 28th December 2015
After three years, sale of branded petrol and diesel is getting back to normalcy for the three government-owned oil marketing companies - Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPC) and Hindustan Petroleum Corporation (HPC).

The government OMCs say the price differential between branded and non-branded fuel has come down, though the sales in branded petrol are better than for branded diesel. Branded fuels are regular fuels with additives supposed to enhance a vehicle's performance.

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