Latest news with #HindustanPetroleumCorp
Reuters
21-07-2025
- Business
- Reuters
India's HPCL seeks 10 LNG cargoes for March 2026-December 2027 delivery, sources say
SINGAPORE, July 21 (Reuters) - India's Hindustan Petroleum Corp (HPCL) has issued a tender seeking 10 cargoes of liquefied natural gas (LNG) for delivery from March 2026 to December 2027 to its Chhara import terminal in western India, two industry sources said on Monday. HPCL is seeking one cargo per month for delivery in March, April, October and November in 2026, and in February, April, June, August, October and December in 2027, added one of the sources. The tender closes on July 21.
Time of India
21-07-2025
- Business
- Time of India
Hindustan Petroleum seeks 10 LNG cargoes for March 2026-December 2027 delivery, sources say
India's Hindustan Petroleum Corp ( HPCL ) has issued a tender seeking 10 cargoes of liquefied natural gas (LNG) for delivery from March 2026 to December 2027 to its Chhara import terminal in western India, two industry sources said on Monday. HPCL is seeking one cargo per month for delivery in March, April, October and November in 2026, and in February, April, June, August, October and December in 2027, added one of the sources. Explore courses from Top Institutes in Select a Course Category Data Science MCA Data Science CXO healthcare Public Policy Leadership Design Thinking Operations Management PGDM Digital Marketing Healthcare MBA Management Others Project Management Data Analytics Artificial Intelligence Product Management Cybersecurity others Degree Finance Skills you'll gain: Data Analysis & Interpretation Programming Proficiency Problem-Solving Skills Machine Learning & Artificial Intelligence Duration: 24 Months Vellore Institute of Technology VIT MSc in Data Science Starts on Aug 14, 2024 Get Details Skills you'll gain: Strategic Data-Analysis, including Data Mining & Preparation Predictive Modeling & Advanced Clustering Techniques Machine Learning Concepts & Regression Analysis Cutting-edge applications of AI, like NLP & Generative AI Duration: 8 Months IIM Kozhikode Professional Certificate in Data Science and Artificial Intelligence Starts on Jun 26, 2024 Get Details The tender closes on July 21.
Business Recorder
08-07-2025
- Business
- Business Recorder
India aims to import about 10% of its cooking gas from US from 2026, say sources
NEW DELHI: India plans to source about 10% of its cooking gas imports from the U.S. beginning in 2026 as part of a broader effort to boost energy purchases to narrow its trade gap with Washington, four industry refining sources familiar with the matter said. The world's third biggest oil importer and consumer relies heavily on Middle Eastern producers of liquefied petroleum gas (LPG), with more than 90% of its roughly 20.5 million metric tons of imports in 2024 coming from the region. LPG is a mix of propane and butane used for cooking fuel and is mainly imported by state retailers Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp and sold at a subsidised price to households. India had rarely bought U.S. LPG in the past due to higher freight costs, but state retailers began buying U.S. LPG in May after China imposed retaliatory import tariffs on U.S. propane. India plans to eliminate import tax on U.S. propane and butane used for making LPG, sources previously told Reuters. India has pledged to increase U.S. energy purchases by $10 billion to $25 billion in the near future and the two nations in February agreed to target $500 billion in bilateral trade by 2030. India ready for trade deals but not to meet deadlines, minister says India's import of U.S. oil has more than doubled this year, data obtained from sources showed. 'We are looking to the U.S. as a reliable alternative source of both crude and LPG. We need to diversify our sources of LPG,' said one of the sources who declined to be named because he was not authorised to speak to media. India has been diversifying its crude oil suppliers to reduce geopolitical risks and support its growing refining capacity. However, its LPG suppliers remain concentrated in the Middle East, typically purchased on a free-on-board (FOB) basis. Chinese import tariffs on U.S. propane, currently at 10%, have opened up arbitrage opportunities for Indian buyers, further incentivising a shift toward U.S. cargoes, a second source said. 'We would prefer to import from the U.S. on a delivered basis to mitigate freight risks — similar to how we already buy U.S. crude,' he said. Indian state refiners are seeing annual LPG demand growth of about 5% to 6%, with total imports projected to rise to 22 million tonnes to 23 million tonnes by 2026, two of the sources said. India's oil ministry and the three state fuel retailers did not immediately respond to requests for comment. Pricing will be key to determining the exact volume of U.S. LPG imports, a third industry source said. The International Energy Agency expects India's LPG demand to grow at an average of 2.5% between 2024 and 2030, reaching 1.2 million barrels per day, or roughly 37.7 million tonnes.
Time of India
08-07-2025
- Business
- Time of India
India aims to import about 10% of its cooking gas from US from 2026, say sources
New Delhi: India plans to source about 10 per cent of its cooking gas imports from the U.S. beginning in 2026 as part of a broader effort to boost energy purchases to narrow its trade gap with Washington, four industry refining sources familiar with the matter said. The world's third biggest oil importer and consumer relies heavily on Middle Eastern producers of liquefied petroleum gas (LPG), with more than 90 per cent of its roughly 20.5 million metric tons of imports in 2024 coming from the region. LPG is a mix of propane and butane used for cooking fuel and is mainly imported by state retailers Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp and sold at a subsidised price to households. India had rarely bought U.S. LPG in the past due to higher freight costs, but state retailers began buying U.S. LPG in May after China imposed retaliatory import tariffs on U.S. propane. India plans to eliminate import tax on U.S. propane and butane used for making LPG, sources previously told Reuters. India has pledged to increase U.S. energy purchases by $10 billion to $25 billion in the near future and the two nations in February agreed to target $500 billion in bilateral trade by 2030. India's import of U.S. oil has more than doubled this year, data obtained from sources showed. "We are looking to the U.S. as a reliable alternative source of both crude and LPG. We need to diversify our sources of LPG," said one of the sources who declined to be named because he was not authorised to speak to media. India has been diversifying its crude oil suppliers to reduce geopolitical risks and support its growing refining capacity. However, its LPG suppliers remain concentrated in the Middle East, typically purchased on a free-on-board (FOB) basis. Chinese import tariffs on U.S. propane, currently at 10 per cent , have opened up arbitrage opportunities for Indian buyers, further incentivising a shift toward U.S. cargoes, a second source said. "We would prefer to import from the U.S. on a delivered basis to mitigate freight risks - similar to how we already buy U.S. crude," he said. Indian state refiners are seeing annual LPG demand growth of about 5 per cent to 6 per cent , with total imports projected to rise to 22 million tonnes to 23 million tonnes by 2026, two of the sources said. India's oil ministry and the three state fuel retailers did not immediately respond to requests for comment. Pricing will be key to determining the exact volume of U.S. LPG imports, a third industry source said. The International Energy Agency expects India's LPG demand to grow at an average of 2.5 per cent between 2024 and 2030, reaching 1.2 million barrels per day, or roughly 37.7 million tonnes.
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Business Standard
06-05-2025
- Business
- Business Standard
HPCL Q4 results: Profit rises 18% on stronger marketing, refining margins
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 Reuters Indian state-run refiner Hindustan Petroleum Corp (HPCL) 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. 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. 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.
