Latest news with #HindustanPetroleum
Bloomberg
3 days ago
- Business
- Bloomberg
India's State Oil Refiners Plan Tanker Order for Domestic Use
India's state-run refiners are planning to order 10 domestically-built vessels to transport fuels around the country as the government pushes ahead with its ambition to expand the shipbuilding industry. Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. plan to jointly issue a tender later this year for the medium-range tankers, according to people familiar with the matter who asked not to be identified because the information isn't yet public. The proposal could be valued at as much as $600 million, and will require delivery to start by 2028, they said.
Entrepreneur
08-05-2025
- Business
- Entrepreneur
HPCL PAT up by 18% YoY for Q4 FY25 to INR 3,355 Crore
Revenue for the year edged up to INR 4,66,346 crore from INR 4,61,638 crore, but the average GRM dropped to $5.74 per barrel, down from $9.08 in FY24. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Hindustan Petroleum Corporation Limited (HPCL) has reported a strong operational performance for the fourth quarter and full year ended March 31, 2025. In the January-March quarter, HPCL's refineries recorded the highest-ever quarterly throughput at 6.74 million metric tonnes (MMT). A key milestone for the quarter was the commencement of operations at HPCL's LNG regassification terminal in Chhara, Gujarat, signaling progress in the company's broader energy diversification strategy. The company posted a 18 per cent year-on-year increase in standalone profit after tax (PAT) at INR 3,355 crore, up from INR 2,843 crore in the same quarter last year. Consolidated PAT stood at INR 3,415 crore, compared to INR 2,709 crore in Q4 FY24. Revenue from operations came in slightly lower at INR 1,18,334 crore, compared to INR 1,21,533 crore a year ago, but the gross refining margin (GRM) improved to $8.44 per barrel from $6.95. On an annual basis, in FY25, the company achieved its annual refinery throughput at 25.27 MMT. The Visakh Refinery, which had undergone capacity expansion, processed over 15 MMT of crude oil, while the Mumbai Refinery set a new record with nearly 10 MMT of crude processing. HPCL also posted annual sales of 49.82 MMT, with domestic sales growing at 5.5 per cent. Despite these operational highs, annual profitability took a hit. Revenue for the year edged up to INR 4,66,346 crore from INR 4,61,638 crore, but the average GRM dropped to $5.74 per barrel, down from $9.08 in FY24. This contributed to a fall in annual PAT to INR 7,365 crore from INR 14,694 crore last year. Consolidated PAT also declined to INR 6,736 crore, from INR 16,015 crore.
Reuters
06-05-2025
- Business
- Reuters
India's HPCL posts rise in quarterly profit on higher marketing margins
May 6 (Reuters) - Indian state-run refiner Hindustan Petroleum Corp (HPCL) ( opens new tab reported a rise in fourth-quarter profit on Tuesday, aided by higher marketing margins. Standalone net profit rose 18% to 33.55 billion rupees (about $398 million) in the quarter ended March 31. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. HPCL's average gross refining margin - the profit from making refined products from one barrel of oil - rose to $8.44 per barrel for the reported quarter from $6.95 per barrel a year ago. For further results highlights, (click here). KEY CONTEXT India saw mixed demand for fuel in the January to March quarter, with overall demand falling in two of the three months and LPG demand rising for the most of the fourth quarter. HPCL's marketing segment posted a 2.7% growth in domestic sales, surpassing the industry average of 2.4%, it said in a statement. Last month, peer IOC reported a jump in quarterly profit on inventory gains, booked as a result of rising oil prices during the refining and shipping process. Analysts said the cost of crude oil - used by refiners as raw material - fell in the quarter, helping rise in margins. PEER COMPARISON * The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT JANUARY-MARCH STOCK PERFORMANCE
Reuters
11-02-2025
- Business
- Reuters
India's HPCL plans to raise Vizag oil refinery capacity by as much as 20%
NEW DELHI, Feb 11 (Reuters) - State-run Hindustan Petroleum (HPCL) ( opens new tab plans to increase the capacity of its Vizag oil refinery in southern India by as much as 20% to meet growing local fuel demand, its chairman Rajneesh Narang said. India is raising its crude processing capacity as the world's third-largest oil importer and consumer wants to be a major global refining hub while its fuel demand is expected to continue growing for the next decade. HPCL recently expanded the capacity of the Vizag refinery to 300,000 barrels per day and is looking for a further increase. "We are exploring raising the (annual) capacity by 2-3 million (metric) tons (40,000-60,000 bpd). We have to take a board approval for this," Narang told Reuters at the India Energy Week conference, without providing the estimated cost or timeframe. HPCL will soon start operations at the Vizag refinery's new secondary units, including a 3.5 million-ton-per-year (tpy) residue upgradation unit to boost its distillate yield by 10% and improve its gross refining margin (GRM) by $3 per barrel. It will also bring online a 2.6 million tpy diesel hydro desulphuriser. India's fuel demand is expected to rise alongside the expansion of its economy, though motorists are being drawn to electric vehicles and industries are switching to renewables from diesel-generated electricity to cut their carbon footprints. To future-proof its plants, HPCL is also building a petrochemical plant at its 180,000 bpd Barmer refinery in the desert state of Rajasthan. The refinery is India's first plant to have a highest petrochemical intensity - the percentage of crude oil that is converted into chemicals - of 26%. While crude processing at the Barmer refinery will begin in June-July, the petrochemical project will start operation by December, Narang said. The company plans to operate the Rajasthan refinery through spot oil purchases and would sign annual crude purchase deals for the plant from next year after the units stabilise, he added. HPCL also operates a 190,000 bpd Mumbai refinery in western India. The company imports about 21 million tons of crude annually, with about 8 million to 9 million tons procured from the spot markets, Narang said. To cut its crude import cost, the refiner set up a crude trading desk last year that negotiates with oil sellers for better terms instead of floating tenders for spot purchases, he added. (1 metric ton = 7.3 barrels of crude)
