Cpcl

CPCL Q4 results: Net profit falls 39% to Rs 628 cr on foreign exchange loss

Chennai Petroleum Corporation Ltd, a subsidiary of Indian Oil Corporation (IOC), on Wednesday reported 39 per cent drop in March quarter net profit on lower prices and foreign exchange loss. Consolidated net profit of Rs 627.89 crore in January-March FY24 was lower than Rs 1,012.81 crore earning in the same period last year, according to a stock exchange filing of the company. The profit was up 71 per cent when compared with Rs 365.3 crore earning in December quarter. Revenue from operations was lower at Rs 20,822.95 crore as against Rs 21,350.05 crore in January-March FY23. The company earned USD 8.64 on turning every barrel of crude oil into fuel in the year to March 31, 2024 as opposed to a gross refining margin of USD 11.91 per barrel in the previous year. Gross refining margin (GRM) for the quarter stood at USD 7.71 per barrel, compared to (-) USD 16.6 per barrel a year ago. Also, the company booked a foreign exchange loss of Rs 15.84 crore during January-March as compared

CPCL mobilises 4 agencies from Chennai, Mumbai, Paradip to clear oil slick

The Chennai Petroleum Corporation Ltd, which is engaged in removing oil slick near the Ennore creek here, has mobilised four agencies from Mumbai, Paradip Port and Chennai for the clearing work. The subsidiary of state-run energy major IndianOil Corporation Ltd said it has been working on "war-footing" to "clean up and clear" the areas in coordination with Tamil Nadu Pollution Control Board (TNPCB), state authorities and the work is "targeted to be completed in the next two-three days." The CPCL, in a statement, clarified that there has been no pipeline leak nor any leakage from the tanks in the refinery and the "refinery is under operation." Around 110 boats with 440 manpower have been deployed for oil slick removal activities. Oil presence in the containment zone is now miniscule, the CPCL said. "The CPCL has mobilised four agencies from Chennai, Mumbai and Paradip for clearing the oil spill. Seven numbers of containment booms of around 1,430 mts have been installed in different

TN Pollution Control Board issues directions to CPCL on Ennore oil spillage

CPCL shall also be liable to pay compensation to the families adversely impacted due to the oil spillage, including the loss of livelihood, it said

CPCL MD Arvind Kumar among 10 in race for Indian Oil Corporation's top job

Chennai Petroleum Corporation Ltd (CPCL) managing director Arvind Kumar is among 10 in the race to become the next chairman of India's largest oil company Indian Oil Corporation (IOC). Kumar and nine others have been called for an interview by the government headhunter Public Enterprise Selection Board (PESB) on May 16, according to a shortlist notice of the PSEB. PESB will interview and recommend a candidate to replace incumbent chairman Shrikant Madhav Vaidya who superannuates on attaining 60 years of age on August 31 this year. Those shortlisted for the interview include five executive directors of IOC, Container Corporation of India Ltd (Concor) director (finance) Manoj Kumar Dubey and NMDC Ltd director (finance) Amitava Mukherjee. Two Indian Railway Services officers -- Yatendra Kumar and Ranjan Prakash Thakur -- have also been shortlisted for the interview, the PESB list showed. IOC executive directors called for interview are Sandeep Jain, Anna Durai, Sailendra Kurumaddali,

Flushing of pipeline from seaside smooth: CPCL on Nagapattinam oil leak

The CPCL on Monday said flushing of pipeline from the seaside, taken up following a crude oil leak, was progressing smoothly. The crude oil leakage which occurred in the 9 km long crude oil pipeline from CPCL CBR Crude Storage Tanks at Nagapattinam to Karaikkal Port late on March 2 was arrested on the morning hours of Saturday. "Online sealing of the pipeline was completed on 05.03.2023 to prevent any further damage to the pipeline. Flushing of pipeline from the sea side, which commenced yesterday evening is under smooth progress and the residual crude oil in the pipeline is being collected in the tanks at refinery end," a company release said. A joint meeting was held with local village leaders by the District Collectorate in which CPCL was also invited. Discussions are underway for an amicable solution and action plans will be drawn by CPCL, it said. "Officials from CPCL and IOCL are working in close coordination to resolve the issue and district administration is extending their

Byju's allegedly buying contacts of children, threatening parents: NCPCR

The child panel took action based on a news report that the company's sales team was engaging in dishonest behaviour to persuade parents to purchase their courses for their kids

ICICI Bank to acquire 10% stake in 9MMTPA refinery JV of IOCL and CPCL

ICICI Bank will subscribe 10% of total paid up capital of the target entity

No Russia impact on crude availability, says CPCL MD Arvind Kumar

"As the economy is on the path of demand recovery post Covid, fuel consumption has also been picking up," said Kumar.

IOC, CPCL start working on Rs 31,580-cr refinery project at Nagapattinam

While both the companies will hold 25 per cent each in the proposed 9 million tonne per annum (MTPA) refinery, the remaining 50 per cent will be held by a strategic or financial partner

Chennai Petroleum Q2 profit at Rs 290.58 cr versus loss a year ago

Revenue drops to Rs 9,732.90 cr from Rs 12,191.97 cr; firm says demand for fuel products was lower during the current half year due to Covid related lockdown

CPCL raises Rs 1,145 crore through NCBs issue to meet capex funding

The fund raising is to meet the funding of capex and financing of normal business activities

CPCL reports better operational performance for a second straight year

CPCL is implementing a Re-gassified LNG (R-LNG) project at an estimated cost of Rs 4.21 billion

CPCL to invest Rs 1,495 cr to create BS-VI fuel for automobile industry

It is looking at setting up a 9 mn tonnes per annum expansion project

CPCL looking at expanding capacity in Nagapattinam

Company is looking to expand its capacity in CBR, where land and other infrastructure are already available, said B Ashok chairman of CPCL