Related News for HINDPETRO

Hindustan Petroleum to set up a global oil trading desk

 19 Apr 05:44 PM

Hindustan Petroleum Corp. Ltd (HPCL) plans to establish an international oil trading desk as part of its Visakh Refinery Modernisation Project. The move aims to modernize the refinery, increase refining capacity, and improve distillate yields. A trading desk helps companies procure crude oil from the international market on a real-time basis, helping cut import prices.

India prepares to start new LNG import terminal as demand rises

 20 Mar 09:01 AM

The facility in Gujarat state is being developed by Hindustan Petroleum Corp., and will have the capacity to import 5 million tons per year of LNG.

India turns cautious on contracted Russian oil as US sanctions bite

 06 Mar 11:16 AM

The biggest state-owned refiner Indian Oil Corp. will likely reduce the amount of crude received under so-called term supply, while Bharat Petroleum Corp. and Hindustan Petroleum Corp. have decided against making firm commitments to take contracted oil next financial year, Bloomberg reported citing sources.

HPCL to start Rajasthan refinery by end-Dec using mostly Mideast oil

 05 Mar 06:59 PM

Hindustan Petroleum Corp (HPCL) plans to start operating its new Barmer refinery in Rajasthan, India, by December 2022, using mostly Middle East oil. The refinery is expected to reach full capacity within a year. HPCL plans to buy Middle Eastern heavy oil and Mangala oil from a field in Barmer.

RBI asks OMCs to pay for some oil imports in Rupees next FY

 05 Mar 02:57 PM

The Reserve Bank of India has reportedly urged major state-owned oil refiners, including Indian Oil Corp., Bharat Petroleum Corp., and Hindustan Petroleum Corp., to persuade Persian Gulf suppliers to accept at least 10% of oil payments in rupees in the next financial year. The move aims to boost the Indian currency in international trade and reduce dependence on dollars. However, oil exporters are hesitant due to currency risk and conversion charges.

India resumes buying Russian Sokol oil after 2-month hiatus, sources say

 16 Feb 02:47 PM

India's Hindustan Petroleum Corp has bought Sokol oil from a trader, the sources said. HPCL is likely to pay for the oil in UAE dirhams, three of them added.

India resumes buying Russian Sokol oil after 2-month hiatus: Sources

 16 Feb 02:22 PM

India has resumed imports of Russian Sokol oil after a two-month hiatus, with at least two refiners receiving deliveries in February. Indian state refiners had stopped buying the crude last year due to strained relations with China. The move led to over 10 million barrels of unsold Sokol oil, causing significant disruption to Russian oil trade. India's Hindustan Petroleum Corp and private refiner Nayara Energy have purchased Sokol oil this month.

Russian oil: India’s state oil refiners in talks with Rosneft to secure Russian crude for long term

 09 Feb 01:48 PM

Indian state oil refiners, Indian Oil Corp, Bharat Petroleum Corp, and Hindustan Petroleum Corp, are in discussions with Rosneft Oil Co PJSC for long-term supplies of Russian crude. The refiners aim to secure about 500,000 barrels per day of Russian crude supplies to diversify their sources.

GUJARAT GAS: CO SIGNED MEMORANDUM OF UNDERSTANDING WITH HINDUSTAN PETROLEUM CORP || HPCL MOU FOR PROVIDING LIQUID FUELS AT CO'S OUTLETS, FOR CO TO SET UP CNG FACILITY AT HPCL OUTLETS

 31 Jan 08:16 PM

GUJARAT GAS: CO SIGNED MEMORANDUM OF UNDERSTANDING WITH HINDUSTAN PETROLEUM CORP || HPCL MOU FOR PROVIDING LIQUID FUELS AT CO'S OUTLETS, FOR CO TO SET UP CNG FACILITY AT HPCL OUTLETS

India set to halve oil refiners' FY24 energy transition equity support

 05 Jan 09:06 AM

India intends to slash equity investment to $1.8 billion in 2023/24 to aid state oil refiners' eco-friendly initiatives, aiming to restrain fiscal deficit. With plans to cap fiscal deficit at 5.9% of GDP, Bharat Petroleum Corp, Hindustan Petroleum Corp, and Indian Oil Corp target carbon neutrality by 2040-2046. The reduced $3.61 billion equity support will be staggered, with $1.8 billion allocated in 2023/24. Refiners' solid financial state led to halving the funds, prompting planned rights issues adjustments. ONGC aims to increase government stake through share issuance, while financing options for HPCL include ONGC's rights issue.