Hindustan Petroleum Corporation

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According to HPCL, India's ambitious goal of expanding road connectivity, manufacturing, and construction activities is expected to support economic growth and further drive oil consumption in India.

State-owned Hindustan Petroleum Corporation Ltd (BPCL) on Monday reported a massive 90 per cent drop in net profit in the June quarter, as refinery margins fell and a fuel price reduction slashed marketing margins. HPCL reported a consolidated net profit of Rs 633.94 crore in April-June -- the first quarter of the current 2024-25 fiscal year -- compared to a profit of Rs 6,765.50 crore a year back, according to a stock exchange filing by the company. Net profit also declined sequentially, when compared to an earning of Rs 2,709.31 crore in the January-March period. Pre-tax earnings from downstream fuel retailing businesses slumped 90 per cent to Rs 907.86 crore. The company and other state-owned fuel retailers -- Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Ltd (HPCL) -- had last year made extraordinary gains from holding petrol and diesel prices despite a drop in cost. The price freeze was justified in the name of recovering losses BPCL and other two retailers ha

The state-run oil marketing company will invest around Rs 50,000 crore in the project and is currently assessing locations in three states - Andhra Pradesh, Uttar Pradesh, and Gujarat

The boards of directors of HPCL, and BPCL are scheduled to meet on Thursday, May 9, 2024 to consider bonus issue plan

In past three days, shares of OMCs have declined between 8 - 12 per cent on concerns that recent petrol and diesel price cut could hurt the companies' profit margins in the near-term.

Hindustan Petroleum Corporation Ltd (HPCL) will commission the country's newest oil refinery at Barmer in Rajasthan by January next year that will help meet rising fuel demand in the north India, a senior company executive said. "The 9 million tonnes a year refinery is 76 per cent mechanically complete and will be completed by year end or so. First product from the refinery will flow in December or January next year," HPCL director for refineries S Bharathan told reporters on the sidelines of India Energy Week here. The project is part of India's target of having an installed capacity to turn 450 million tonnes of crude oil into fuels such as petrol and diesel to meet the energy needs of the world's fastest growing major economy. India's current refining capacity is a shade under 254 million tonnes. He said the Barmer refinery will operate at 75 per cent to 80 per cent of the capacity in the first year as various units get commissioned. "The full capacity will be reached by ...

The government has halved the amount of equity infusion in state-owned fuel retailers to Rs 15,000 crore for supporting their investments in energy transition projects, the finance ministry has said. Finance Minister Nirmala Sitharaman had on February 1 last year while presenting the annual Budget for 2023-24 fiscal (April 2023 to March 2024) announced equity infusion of Rs 30,000 crore in Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) to support the three state-owned firms' energy transition plans. Alongside, she had also proposed Rs 5,000 crore for buying crude oil to fill strategic underground storages at Mangalore in Karnataka and Visakhapatnam in Andhra Pradesh that India has built to guard against any supply disruptions. That plan has also been deferred in view of emerging trends in oil markets, the finance ministry said. While other state-owned oil companies such as Oil and Natural Gas Corporation (ONGC) an

Stocks to watch on Tuesday, November 7, 2023: Apollo Tyres, Balrampur Chini, CRISIL, IRCTC and Power Grid Corporation among prominent companies scheduled to announce results today.

The total income for Q1FY24 came in at Rs 1,19,761.74 crore, compared to Rs 1,21,829.51 crore year-on-year

Fitch ratings have said that announcements of plans to raise equity capital by BPCL and IOC should strengthen their capex spending and the credibility of their emission-reduction plans.

State-owned Bharat Petroleum Corporation Ltd (BPCL) on Wednesday said it will raise up to Rs 18,000 crore through an issue of equity shares on a rights basis to fund its net zero carbon emission projects. The government, which is the majority owner of the company, is likely to subscribe to the rights issue and infuse equity in the company. This as per the Budget announcement will provide Rs 35,000 crore of capital support to state-run fuel retailers -- BPCL, Indian Oil Corporation (IOC), and Hindustan Petroleum Corporation Ltd (HPCL) -- to support their energy transition and net zero initiatives. IOC and HPCL are likely to come up with similar schemes to get government capital. In a stock exchange filing, BPCL said its board at a meeting held on Wednesday "approved the proposal for raising capital up to an amount not exceeding Rs 18,000 crore. This capital will be raised by way of issue of equity shares on rights issue basis to eligible equity shareholders of the corporation as on t

According to ICICI Securities, OMCs will have to adjust retail prices by Rs 0.53/litre to maintain margins at current levels, if international prices change by $1/barrel

LIC's shares closed at Rs 557.35 apiece on BSE, down 0.93 per cent

Closing Bell: Within sectors, the Nifty metal index closed with most strength, up 1.5 per cent, followed by financials and pharma pockets, while PSB index slumped the most by over 1 per cent

Fear of worsening economic slowdown in China has dealt the latest blow to global crude oil, with daily prices falling to their lowest since January 4, 2022

ONGC reported standalone earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Rs 18,810 crore

The state-owned oil marketing company reported the second straight quarterly loss despite revenue rising 30 per cent to Rs 1.13 trillion.

The company blamed depressed marketing margins on motor fuels and LPG as the main reason for its profitability being impacted over the latest quarter