Topic
hpcl
Commodities Under-recoveries push HPCL, BPCL into losses: Times of India report highlights state-owned oil firms' financial strain
According to a Times of India article, state-owned HPCL and BPCL are being pushed into losses due to under-recoveries. The report, authored by Atul Mathur, highlights financial strain but does not provide specific figures or commodity prices.
Commodities Crude comeback: IOCL, HPCL buy 7 million barrels of energy supplies as India rebuilds stocks
Indian state-owned refiners IOCL and HPCL bought approximately 7 million barrels of crude through tenders last week, with deliveries scheduled from late August through September, according to Reuters. The purchases come as India's crude inventories rebounded to near one-year highs, while global oil prices fell over 1% on Monday after OPEC+ agreed to further increase output targets.
Commodities Beyond Hormuz: What HPCL Rajasthan Refinery Limited Inaugurated by PM Modi Means for India's Energy Security
Prime Minister Narendra Modi inaugurated the HPCL Rajasthan Refinery Limited (HRRL) in Pachpadra, India's first greenfield integrated refinery-cum-petrochemical complex. The project, part of a Rs 1.06 lakh crore infrastructure push, aims to reduce India's vulnerability to supply disruptions highlighted by the recent Strait of Hormuz crisis. Union Minister Hardeep Singh Puri noted India's refining capacity will rise from 270 MMTPA to 310-320 MMTPA by 2030, contrasting with declining capacity in the US and Europe.