Page 2 - Hindustan Petroleum Corporation Ltd

HPCL to raise Rs 10,000 cr in debt to fund oil refining, fuel marketing ops

Hindustan Petroleum Corporation Ltd (HPCL) will raise Rs 10,000 crore in debt from domestic or overseas market to fund its oil refining and fuel marketing operations, the company said on Thursday. The board of the company at its meeting on Thursday "approved a proposal for borrowing through further issuance of secured/unsecured redeemable non-convertible debentures/bonds/notes etc. up to Rs 10,000 crore on private placement basis in the domestic market and/or in the overseas market from the date of such approval". In a stock exchange filing, HPCL said the borrowing was within the overall borrowing powers of the company. Separately, the company raised Rs 750 crore through issue of debentures on private placement basis to refinance "existing borowing and/or funding of capial expenditure". The 10-year debenture will carry a coupon rate of 7.54 per cent per annum.

Analysts see a ray of hope for oil marketing firms after a difficult Q2

Although the Indian crude basket fell from an average of $109.5 per barrel in Q1 to an average of $97.87 a barrel in Q2, prices remained high in absolute terms

Hindustan Petroleum posts consolidated net loss of Rs 2,172 crore in Q2

The company blamed depressed marketing margins on motor fuels and LPG as the main reason for its profitability being impacted over the latest quarter

NGT imposes Rs 18.35 cr fine on HPCL-Visakh Refinery for green violations

The National Green Tribunal has imposed a Rs 18.35 crore fine on Hindustan Petroleum Corporation Limited (HPCL)-Visakh Refinery over violation of environmental norms

IOC, HPCL, BPCL may post 2nd consecutive quarterly loss in July-Sept

State-owned oil marketing companies IOC, BPCL and HPCL may for the first time ever post the second consecutive quarterly loss with a combined loss of Rs 21,270 crore in July-September, on holding petrol and diesel prices below the cost of production. The three state-owned firms -- Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), had in the first quarter of the current fiscal year (April-June) posted a combined loss of Rs 18,480 crore due to erosion in the marketing margin on petrol, diesel and domestic LPG. "The three oil marketing companies IOC, BPCL and HPCL remain trapped in the quagmire of weak marketing losses and there is not enough traction in refining margins," ICICI Securities said in a sector report. The three firms are to announce second quarter earnings later this month or in early November. In the first quarter, record refining margins were wiped away by losses booked on not revising petrol and diesel

Petrol, diesel prices may not fall despite 30% dip in global crude price

In a bid to recover past losses the state-run oil companies may not immediately lift the six-month-long freeze on daily pricing of automobile fuel rates despite a nearly 30% decline in prices

IOC, HPCL, BPCL post Rs 18k-cr combined loss in Q1 on holding fuel prices

According to stock exchange filings by the three fuel retailers, the losses were due to erosion in the marketing margin on petrol, diesel and domestic LPG

HPCL's Q1 net dips 11% to Rs 2,003 cr, income up 66% to Rs 77,980 cr

During the quarter, HPCL sold 8.83 million tonnes of fuel overall against 7.62 million tonnes a year ago, representing a growth of 15.9%

HPCL rallies 8%, hits 52-week high on strong March quarter results

The company announced final dividend of Rs 22.75 per share, and it also completed its share buyback program on April 20, 2021

Hindustan Petroleum acquires balance 50% stake in Chhara LNG Terminal

Hindustan Petroleum Corporation Limited (HPCL) has acquired the balance 50 per cent equity stake in HPCL Shapoorji Energy Private Limited (HSEPL) from SP Ports Private limited company.

Trading tips by Ajit Mishra of Religare Broking: Buy HPCL, Petronet NLG

Hindpetro has witnessed a strong rebound after forming a base above the support zone of moving averages ribbon on multiple time frames

HPCL chief indicates market forces may slightly raise fuel prices

Company doubles consolidated net profit in third quarter

Indian refiners export diesel to China as Beijing recovers from Covid-19

China is seeing a demand recovery in infrastructure and manufacturing sectors. Countries, like South Korea and Japan, have also placed quotes for importing petroleum products from India amid lockdown

Coronavirus outbreak: Subdued crude oil prices to help HPCL, other OMCs

IOC and BPCL to also gain from lower working capital requirement and firm marketing margins, but weak GRMs may limit the upside

Fuel prices are expected to come down in the coming cycle: HPCL Chairman

Supply side worries, which came all of a sudden, have subsided.

OMCs in a sweet spot with declining crude prices, better refining margins

Firm marketing margins add to their fortunes, making them attractive post a sharp 30% correction from early-June highs

HPCL plans to rectify shareholding pattern, accepts ONGC as a promoter

Sebi asked HPCL to re-file shareholding pattern to stock exchanges by August 13 for all quarters since Oil and Natural Gas Corp (ONGC) acquired government's entire stake in the refiner in January 2018

HPCL Q1 net profit dips 53% to Rs 811 cr over decline in refining margin

The decrease in profit is due to sharp decline in crude prices in the month of May and June 2019 leading to inventory losses both at refinery and marketing

HPCL to finalise 10 licensors this week for Rs 431-bn Rajasthan refinery

M K Surana, chairman and managing director of HPCL, said the Barmer refinery project is on course will be able to commission it as planned in 2022-22

Hindustan Petroleum Q3 profit rises 23% to Rs 19 bn; income up 13%

Income from operations rose over 13% to Rs 628.32 bn