Tennis icon Sania Mirza was on Friday roped in by Hindustan Petroleum Corporation for endorsing its retail brands.\n\n
The Core Group of Secretaries on Divestment is believed to have favoured the appointment of HSBC as the global advisor for managing the privatisation of oil PSU Hindustan Petroleum Corporation.\n\n
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.
After ONGC and IFFCO, state-run gas firm GAIL on Tuesday said it would bid for acquiring controlling stake in oil refiner Hindustan Petroleum Corporation if it was permitted by the government policy.
The company is in advanced talks with Hindustan Petroleum Corp, Chennai Refinery and Kochi Refineries for sale of 34,000 barrels per day of oil it will start producing from the gas-rich KG-D6 block on Krishna Godavari basin from September. The company is investing $2.234 billion in developing the MA-1 and MA-2 oil fields in the predominantly gas-rich block.
ONGC, Hindustan Petroleum, Bharat Petroleum, Indian Oil and Oil India listed the spending as part of their mandatory CSR commitment, but CAG noted that the Sardar Patel statue did not qualify for CSR funding.
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.
Tata Motors, in collaboration with HPCL, is offering free fuel upto a year for new buyers of Tata and Fiat cars, in Delhi and NCR.
Launching a new concept in the Indian aviation scene, Air Deccan on Monday announced a strategic tie-up with Hindustan Petroleum to sell tickets of the 'no frills' airline at HP retail outlets across the country.
Hindustan Petroleum Corporation Ltd plans to invest over Rs 2,787 crore (Rs 27.87 billion) in raising its Mumbai and Vizag refinery capacities through de-bottlenecking and process upgradation for higher volumes and better fuel quality.
The government will hold veto power on all crucial decisions in the privatised Hindustan Petroleum Corporation Ltd through the 'golden share' clause in the share-holders agreement.
ChevronTexaco has bid for a stake in state-run Hindustan Petroleum Corp Ltd, India's second-largest oil refiner and retailer.
Hindustan Petroleum Corporation Ltd has posted a net profit of Rs 3306.22 million for the quarter ended December 31, 2002
Diesel rates had gone up by Rs 12.55 a litre between June 7, when oil firms resumed revising prices in line with cost, and July 25.
Alka Mittal has been appointed interim chairman and managing director of Oil and Natural Gas Corporation (ONGC) - the first woman to head the country's largest oil and gas producer. Mittal replaces Subhash Kumar, another interim head who retired after reaching superannuation age on December 31. "The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Ministry of Petroleum and Natural Gas for entrustment of additional charge of the post of chairman and managing director (CMD), ONGC to Alka Mittal, director (HR), ONGC for a period of six months with effect from January 1, 2022, or till the appointment of a regular incumbent to the post, or until further order, whichever is the earliest," the Department of Personnel and Training (DoPT) said in an order dated January 3, 2022.
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.
'EV-charging is the next big opportunity after fuelling'
State-owned Indian Oil Corporation (IOC) and a joint venture of billionaire Gautam Adani's gas arm and Total of France -- Adani Total Gas Ltd -- have bid for maximum number of licenses to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round.
Oil giant Shell says it is serious about bidding for Hindustan Petroleum and is eagerly watching developments on the refiner's divestment process.
State-run Hindustan Petroleum Corporation Ltd on Monday a net loss of Rs 607.67 crore (Rs 6.07 billion) for the quarter ended June 30, as compared to net loss of Rs 507.89 crore.
State-run Oil and Natural Gas Corporation will buy 20.9 per cent stake held by banks and financial institutions in its subsidiary Mangalore Refinery and Petrochemicals Ltd for around Rs 370 crore.
Low bids caused state oil refiner Hindustan Petroleum Corporation to cancel a rare tender to export the high sulphur fuel oil it usually sells at home, a company source said on Monday.\n\n\n\n
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.
Oil and Natural Gas Corporation is likely to buy 16.9 per cent stake of Hindustan Petroleum Corporation in loss-making Mangalore Refinery and Petrochemicals for close to Rs 550 crore.\n\n
India plans to complete by 2006 a 180,000-bpd refinery, which has been under a cloud because of the proposed privatisation of the company that is building it, Oil Minister Ram Naik
Global oil majors may be teaming up with investment funds that are already in the race to acquire Bharat Petroleum Corporation Ltd (BPCL), a document detailing steps needed to complete India's biggest privatisation showed. Billionaire Anil Agarwal's Vedanta group as well as two US funds -- Apollo Global and I Squared Capital - had last year submitted initial bids to buyout the government's entire 52.98 per cent stake in India's third-biggest oil refiner and second-largest fuel retailer. Detailing the 'Next Step', the 'Brief Note on BPCL Disinvestment' said Transaction Advisor and Asset Valuer are to submit an inception report, bidders have to complete due diligence of the company and sale purchase agreement has to be finalised.
Hindustan Petroleum Corporation on Saturday reported a net loss of Rs 22.14 crore (Rs 221.4 million) for the second quarter ended September 30, 2005 as against a net profit of Rs 294.31 crore (Rs 2.94 billion) in the quarter ended September 30, 2004.
Murali Pradhan (30), who was undergoing treatment at Old Care hospital, succumbed to his burn injuries, according to HPCL sources.
State-owned oil firms such as ONGC and IOC will invest over Rs 1.11 lakh crore in the next fiscal year starting April as they supplement the government's massive spending programme to spur economic growth. Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOC), GAIL (India) Ltd, Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Oil India Ltd (OIL) will together make a 7.4 per cent higher capital expenditure in the 2022-23 fiscal (FY23). The capex spending of Rs 1.11 lakh crore in 2022-23 compares with a revised estimate of Rs 1.04 lakh crore for the current fiscal year that ends in March, according to Union budget documents.
India's plan to produce ethanol from second-generation (2G) sources -- mainly farm waste -- is taking time to materialise even as the government is set to dedicate to the nation on Wednesday a Rs 900-crore plant set up by Indian Oil Corporation (IOC) in Panipat. Though state-run oil companies had decided to set up at least 12 plants in 2016-17 with an investment of around Rs 10,000 crore, this will be the first unit coming on track while others are stuck in various stages owing to issues like capital expenditure, lack of feedstock, and high rates of finished products compared to traditional ethanol units. According to industry sources, three more second-generation plants are coming up.
Five out of the top 10 companies in Fortune 500 list of Indian companies are from the oil sector.
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