Chennai Petroleum targeting ₹1 trn revenue in next few years: MD Shankar

H Shankar elevation comes amid the Indian Oil Corporation (IOCL) arm's plan to foray into the fuel retail business and line up expansion plans

H Shankar took charge as managing director (MD) of Chennai Petroleum Corporation Ltd (CPCL) in April this year. Shankar's elevation comes amid the Indian Oil Corporation (IOCL) arm's plan to foray into the fuel retail business and line up expansion plans. Shankar talks with Shine Jacob in Chennai about CPCL's roadmap. Edited excerpts:

 

Your parent, IOCL, is already strong in the marketing segment with the largest number of fuel outlets. Then why are you foraying into the retail business?

 

CPCL is a standalone refinery, and hence, the crude price uncertainties impact profitability, leading to a drastic up-and-down scenario. We have