HPCL was sought after in early trades on Wednesday as media reports suggested that the company's divestment is likely to be wrapped up by June 2003.
State-owned HPCL will set up a 100 MW wind park and launch pilot projects for bio-diesel production - moves that could deliver significant cost advantages to the company.
HPCL is the largest supplier of jet fuel to Kingfisher.
Hindustan Petroleum Corporation has proposed to shed about 11 per cent of its workforce by offering the surplus staff a VRS, the Rajya Sabha was informed on Tuesday.
Escalation of the conflict in West Asia between Israel and Iran has had a direct impact on the energy markets, and more broadly on the financial markets as well as the global economy.
The Supreme Court on Tuesday restrained the government from going ahead with the divestment of Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd without Parliament approval.
Saudi Aramco will bid government's 34.01 per cent stake in oil refiner Hindustan Petroleum Corporation Ltd.
Price of international crude oil - the raw material for making petrol and diesel - dropped to a three-year low before marginally recovering but a revision in domestic petrol and diesel rates is likely only if lower rates are sustained, industry sources and officials said. Global oil benchmark Brent crude futures fell below $70 per barrel on Tuesday - the first time since December 2021 - but gained thereafter after Hurricane Francine hit crude supply in the Gulf of Mexico. Brent rose above $71 a barrel on Thursday while West Texas Intermediate advanced to trade near $68.
HPCL and BPCL were compelled downward today as marketmen reckon that their divestment may not even take place in the current calendar.
ChevronTexaco has bid for a stake in state-run Hindustan Petroleum Corp Ltd, India's second-largest oil refiner and retailer.
HPCL was piped to gains on Wednesday on reports that at least 12 multinationals and domestic companies have presented initial bids for the Centre's 34.01% stake in the company.
HPCL is Kingfisher Airline's largest aviation turbine fuel supplier.
India-born billionaire Lakshmi N Mittal may take 49 per cent stake in Hindustan Petroleum Corp Ltd's under-construction $3 billion refinery at Bhatinda in Punjab.
The long-delayed Bhatinda refinery project of Hindustan Petroleum Corporation Limited crossed another significant milestone on Wednesday, with the award of the project management consultancy contract to Engineers India Ltd.
Following up on Finance Minister Arun Jaitley's Budget announcement of creating an integrated oil company, India's biggest oil and gas producer ONGC may buy all of the government's 51.11 per cent stake in Hindustan Petroleum Corporation Ltd.
HPCL is now ready to increase the stake of the state government up to 49 per cent.
State-run Hindustan Petroleum Corporation Ltd on Wednesday said it was in advanced stages of talks with Shell India for picking up stake in its Hazira LNG terminal in Gujarat and a deal was possible this fiscal.
State-run Hindustan Petroleum Corporation is eyeing oil blocks in African countries, its Chairman and Managing Director, Subir Roy Choudhari said on Friday.
HPCL staff threaten to block due diligence
Oil and Natural Gas Corporation is likely to buy 16.95 per cent stake of Hindustan Petroleum Corporation Ltd in Mangalore Refinery and Petrochemicals Ltd for about Rs 550 crore.
HPCL, Bharat PetroResources Ltd -- a unit of state-owned Bharat Petroleum Corporation, Gujarat State Petroleum Corporation and Videocon Industries each have 14 per cent interest in the block.
After dropping a Rs 5,000 crore plan to fill parts of strategic oil storages, the government will lease out space in the underground rock caverns to domestic and international firms to store oil, a top executive said on Tuesday. India Strategic Petroleum Reserve Ltd has built underground storages at Visakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka to store 5.33 million tonnes of oil that can be used in any emergency situation like supply disruption or war. UAE's Abu Dhabi National Oil Company (Adnoc) has already hired half of the 2.5 million tonnes storage capacity at Padur and 1.5 million tonnes facility at Mangalore.
Differences between ministries of divestment and petroleum are likely to surface at Fridays meeting of the Cabinet Committee on Divestment as the former is believed to have proposed keeping public sector units.
HPCL advanced further on Monday on buying support from institutions following reports that a inter-ministerial group is likely to meet on Thursday to shortlist the names of bidders for the state-run oil refiner.
Steel baron L N Mittal and French oil major Total on Thursday signed an agreement with state-run HPCL for jointly setting up a $6 billion refinery-cum petrochemical complex at Vishakhapatnam in Andhra Pradesh. State-run gas utility Gail India and exploration firm Oil India Limited are the other stakeholders in the proposed 15 million tonne refinery and one million tonne petrochemical complex.
The Cabinet Committee on Economic Affairs at its meeting this morning approved the project, official sources said.
Reliance Industries Ltd on Monday said last week's Supreme Court ruling halting the privatisation of Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd was a "setback", but hoped that a solution will emerge soon.
Kicking off the divestment process in the two public sector oil companies, Hindustan Petroleum Corporation and Bharat Petroleum Corporation, the government
After Reliance Industries Ltd and its partner bp plc of the UK, Nayara Energy - the nation's largest private fuel retailer - has started selling petrol and diesel at Re 1 less than the fuel sold by state-owned retailers, officials said. While state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) continue to hold prices despite a drop in international rates, private fuel retailers have started passing on the benefit to consumers. "To further stimulate domestic consumption and cater to local customers better, we have introduced a Re 1 discount in our retail outlets until the end of June 2023," a spokesperson for Nayara Energy said.
Indian state-run oil giants HPCL and BPCL reported on Wednesday no supply disruptions as result of a two-day-old strike by workers opposing privatisation of the refiners.
Hindustan Petroleum Corporation Ltd and British oil giant British Petroleum will decide on signing a binding agreement for a new refining and marketing joint venture vehicle to build a nine million tonne refinery at Bhatinda in Punjab by November 12.
State-run Hindustan Petroleum Corp Ltd plans to invest over Rs 13,000 crore to raise the capacity of its Vizag refinery and set up an aromatic plant there.
