Hindustan Petroleum Corporation Ltd (HPCL) has reported a 53 per cent rise in net profit for the October-December 2016 quarter owing to better operational performance. For the December 2016 ended quarter, HPCL's net profit was Rs 1,590.31 crore, 53 per cent higher from Rs 1,041.25 crore reported last year.
Tag: crude
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HPCL Q3 net up 53percent at Rs 1,590 crore
Hindustan Petroleum Corporation Ltd (HPCL) has reported a 53 per cent rise in net profit for the October-December 2016 quarter owing to better operational performance. For the December 2016 ended quarter, HPCL's net profit was Rs 1,590.31 crore, 53 per cent higher from Rs 1,041.25 crore reported last year.
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HPCL Visakh Refinery processes 9.2 MT crude in FY16
Hindustan Petroleum Corporation LimitedĂ´s (HPCL) Visakh Refinery processed 9.2 million tonnes (MT) of crude oil during 2015-16, which was nearly 111 per cent of its installed capacity of 8.3 million metric tonne per annum (MMTPA).
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The new gas pricing policy is a step in the right direction but more is needed
The government has highlighted Oil & Gas (O&G) as a priority sector as part of its ĂâMake in IndiaĂâ campaign. The focus in O&G will be on Oil Field Services and Equipment (OFS). An interesting model could be Malaysia and Dubai kind of service hubs on the east coast and west coast of the country.
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India to build up oil reserves
India will make a provision in the Budget to fill up strategic reserves for crude, taking advantage of the falling global oil prices.
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Stocks & Barrels
ItĂ´s raining good news for the Indian economy. Credit Suisse has said that India will witness the fastest dollar nominal growth in 2015. And falling oil prices are proving to be a major windfall for the country.
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State marketing cos for flexible deals
PSU refiners, who account for about two-thirds of the countryĂ´s oil processing capacity, are seeking more flexibility in import contracts
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Iran demanded $5 lakh to free Indian oil tanker
Authorities at Iran's Bandar Abbas port are said to have demanded $5,00,000 from India to release the tanker Desh Shanti, which was carrying crude from Iraq. Desh Shanti was held to ransom by Iranian authorities Ăâ spearheaded by the dreaded Iranian Revolutionary Guard Corps (IRGC) Ăâ for 26 days.
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Foreign firms eye refinery, LNG projects in India
According to media reports, British Gas and British Petroleum are interested to set up oil refineries and LNG terminals in India. It may be noted that recently, government allowed 100 per cent FDI in oil refineries throĂÂugh the automatic rouĂÂte and this removes the need for a foreign company to tie-up w