HPCL TO FOCUS ON STRENGHENING THE CORE BUSINESS OF REFINING & MARKETING

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by Shrutee K/DNS

67th Annual General Meeting of Hindustan Petroleum Corporation Limited was held on 21st August 2019 at Y B Chavan Centre, Mumbai. During the meeting Chairman and Managing Director along with Functional Directors addressed the shareholders about the performance of the Corporation during FY 2018-19 and future plans. Subsequently in the evening, they interacted with the press and responded to Media queries about the performance of the Corporation during FY 2018-19 and future plans.




HPCL plans to invest Rs. 74,000 crore in next 5 years in refining, petrochemical and petroleum marketing. In 2018-19, HPCL recorded highest ever refining thruput of 18.44 MMT and highest ever overall sales of 38.7 MMT.  

HPCL’s net profit for the last fiscal was at ₹6,029 crore and gross refining margins (GRM) averaged $5.01 per barrel. Last fiscal, HPCL saw its highest ever capital expenditure of₹12,438 crore, with some capital projects being completed while other projects under implementation. To enhance liquefied petroleum gas supply and distribution capabilities, bottling capacity of 330 TMTPA (thousand metric tonnes per annum) was added during the year at existing bottling plants. The company also commissioned a new LPG bottling plant at Warangal district in Telangana with a capacity of 60 TMTPA.



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