HINDPETRO
New to Zerodha? Sign-up for free.
New to Zerodha? Sign-up for free.
-
Share Price
-
Financials
-
Revenue mix
-
Shareholdings
-
Peers
-
Forensics
- 5D
- 1M
- 6M
- YTD
- 1Y
- 5Y
- MAX
This data is currently unavailable for this company.
-
Summary
-
Profit & Loss
-
Balance sheet
-
Cashflow
This data is currently unavailable for this company.
| (In Cr.) |
|---|
| (In Cr.) | ||||
|---|---|---|---|---|
|
This data is currently unavailable for this company. |
| (In %) |
|---|
| (In Cr.) |
|---|
| Financial Year (In Cr.) |
|---|
-
Product wise
-
Location wise
Revenue Mix
This data is currently unavailable for this company.
Revenue Mix
This data is currently unavailable for this company.
Recent events
-
News
-
Corporate Actions
SCENARIOS-India-US tariff standoff: What are New Delhi's options and risks?
NEW DELHI, Aug 7 (Reuters) - India is likely to be among the countries worst hit by U.S. President Donald Trump's trade offensive, with tariffs on Indian imports set to surge to 50% if a deal is not struck in three weeks.
Below are various options for India to deal with the crisis.
NEGOTIATE FURTHER
India was expected to be among the first countries to sign a trade deal with Trump's team, but talks fell through after five rounds of negotiations over disagreements on opening India's vast farm and dairy sectors and stopping Russian oil purchases.
New Delhi has reacted strongly to the 50% tariff on U.S. imports from India, which could virtually stall trade. Still, Indian officials are hopeful that closed-door talks will address some differences. A U.S. trade team is expected to visit the Indian capital later this month.
But Prime Minister Narendra Modi said on Thursday, without referring to the tariffs, that he was ready to "pay a heavy price" for not compromising on the well-being of the country's farmers, dairy sector and fishermen.
Indian officials, however, have said they are open to cutting tariffs for some U.S. farm and dairy goods like almond and cheese.
CUT RUSSIAN OIL IMPORTS
India, the world's third-biggest oil importer and consumer, previously said it was confident of meeting its oil needs from alternative sources if imports from Russia become impractical due to sanctions or other reasons. It bought little Russian oil before the Ukraine war that began in 2022, but now gets more than a third of its oil imports from its old trade and defence partner.
Reuters reported late last month that Indian state refiners such as Indian Oil IOC.NS, Hindustan Petroleum HPCL.NS, Bharat Petroleum BPCL.NS and Mangalore Refinery Petrochemical MRPL.NS had stopped buying Russian oil as discounts narrowed and pressure from Trump mounted. Officials have, however, warned of spikes in global prices without Russian oil in the market.
Besides Russia, other big suppliers to India are Iraq, Saudi Arabia and the United Arab Emirates under annual deals with the flexibility to request more supply every month.
In total, India buys from about 40 countries, including the United States.
BAND TOGETHER WITH FELLOW DEVELOPING COUNTRIES
Along with India, the other big target of Trump's tariffs is Brazil. The two countries are founding members of the BRICS bloc that also includes China, Russia and South Africa.
Brazilian President Luiz Inácio Lula da Silva, who holds the presidency of BRICS, told Reuters that he would call Modi on Thursday and China's Xi Jinping and other leaders afterwards to discuss the bloc's response to the tariffs.
One Indian government source said India needs to gradually repair ties with the U.S. while engaging more with other nations that have faced the brunt of Trump's tariffs and aid cuts, including the African Union and BRICS.
India is already making some forays with Russia and China.
Ahead of Russian President Vladimir Putin's expected visit to New Delhi this year, India's national security adviser is in Moscow and the foreign minister is due to follow. On Tuesday, Russia said the two countries discussed further strengthening defence cooperation "in the form of a particularly privileged strategic partnership".
India has also boosted engagement with China, a change after years of tensions following a deadly border clash in 2020. Modi is set to visit China in weeks for the first time since 2018 for the summit of a regional security conference, which could see the coming together of Modi, Putin and China's Xi Jinping.
The Indian defence and foreign ministers visited China recently.
WHAT ARE THE CONSEQUENCES FOR INDIA IF TALKS FAIL?
India exported goods of around $87 billion in the fiscal year ended March 2025 to the U.S., including garments, pharmaceuticals, gems and jewellery, and petrochemicals. They account for about 2% of India's GDP.
If the proposed 50% duty on Indian goods is enforced, pharmaceutical exports — subject to a different duty structure - may be the only products still shipped from India to the U.S.
And it's not just trade that will be in the firing line.
Analysts expect tensions to spill over to areas like work visas for tech professionals and the offshoring of services. India has long been a major beneficiary of U.S. visa programmes and the outsourcing of software and business services, a sore point for Americans who have lost jobs to cheaper workers in India.
(Reporting by Krishna N. Das, Nidhi Verma, Manoj Kumar and Aftab Ahmed in New Delhi; Editing by Raju Gopalakrishnan)
NEW DELHI, Aug 7 (Reuters) - India is likely to be among the countries worst hit by U.S. President Donald Trump's trade offensive, with tariffs on Indian imports set to surge to 50% if a deal is not struck in three weeks.
Below are various options for India to deal with the crisis.
NEGOTIATE FURTHER
India was expected to be among the first countries to sign a trade deal with Trump's team, but talks fell through after five rounds of negotiations over disagreements on opening India's vast farm and dairy sectors and stopping Russian oil purchases.
New Delhi has reacted strongly to the 50% tariff on U.S. imports from India, which could virtually stall trade. Still, Indian officials are hopeful that closed-door talks will address some differences. A U.S. trade team is expected to visit the Indian capital later this month.
But Prime Minister Narendra Modi said on Thursday, without referring to the tariffs, that he was ready to "pay a heavy price" for not compromising on the well-being of the country's farmers, dairy sector and fishermen.
Indian officials, however, have said they are open to cutting tariffs for some U.S. farm and dairy goods like almond and cheese.
CUT RUSSIAN OIL IMPORTS
India, the world's third-biggest oil importer and consumer, previously said it was confident of meeting its oil needs from alternative sources if imports from Russia become impractical due to sanctions or other reasons. It bought little Russian oil before the Ukraine war that began in 2022, but now gets more than a third of its oil imports from its old trade and defence partner.
Reuters reported late last month that Indian state refiners such as Indian Oil IOC.NS, Hindustan Petroleum HPCL.NS, Bharat Petroleum BPCL.NS and Mangalore Refinery Petrochemical MRPL.NS had stopped buying Russian oil as discounts narrowed and pressure from Trump mounted. Officials have, however, warned of spikes in global prices without Russian oil in the market.
Besides Russia, other big suppliers to India are Iraq, Saudi Arabia and the United Arab Emirates under annual deals with the flexibility to request more supply every month.
In total, India buys from about 40 countries, including the United States.
BAND TOGETHER WITH FELLOW DEVELOPING COUNTRIES
Along with India, the other big target of Trump's tariffs is Brazil. The two countries are founding members of the BRICS bloc that also includes China, Russia and South Africa.
Brazilian President Luiz Inácio Lula da Silva, who holds the presidency of BRICS, told Reuters that he would call Modi on Thursday and China's Xi Jinping and other leaders afterwards to discuss the bloc's response to the tariffs.
One Indian government source said India needs to gradually repair ties with the U.S. while engaging more with other nations that have faced the brunt of Trump's tariffs and aid cuts, including the African Union and BRICS.
India is already making some forays with Russia and China.
Ahead of Russian President Vladimir Putin's expected visit to New Delhi this year, India's national security adviser is in Moscow and the foreign minister is due to follow. On Tuesday, Russia said the two countries discussed further strengthening defence cooperation "in the form of a particularly privileged strategic partnership".
India has also boosted engagement with China, a change after years of tensions following a deadly border clash in 2020. Modi is set to visit China in weeks for the first time since 2018 for the summit of a regional security conference, which could see the coming together of Modi, Putin and China's Xi Jinping.
The Indian defence and foreign ministers visited China recently.
WHAT ARE THE CONSEQUENCES FOR INDIA IF TALKS FAIL?
India exported goods of around $87 billion in the fiscal year ended March 2025 to the U.S., including garments, pharmaceuticals, gems and jewellery, and petrochemicals. They account for about 2% of India's GDP.
If the proposed 50% duty on Indian goods is enforced, pharmaceutical exports — subject to a different duty structure - may be the only products still shipped from India to the U.S.
And it's not just trade that will be in the firing line.
Analysts expect tensions to spill over to areas like work visas for tech professionals and the offshoring of services. India has long been a major beneficiary of U.S. visa programmes and the outsourcing of software and business services, a sore point for Americans who have lost jobs to cheaper workers in India.
(Reporting by Krishna N. Das, Nidhi Verma, Manoj Kumar and Aftab Ahmed in New Delhi; Editing by Raju Gopalakrishnan)
FACTBOX-Exports of oil products by private Indian refiners
By Nidhi Verma and Mohi Narayan
NEW DELHI, Aug 6 (Reuters) - India's exports of refined fuel are in the spotlight after last month's European Union sanctions while U.S. President Donald Trump has threatened a tariff hike over its oil purchases from Russia.
The South Asian nation became the top buyer of Russian seaborne crude after Moscow's 2022 invasion of Ukraine. Private refiners Reliance Industries RELI.NS and Nayara are Russia's top Indian oil clients, trade data shows.
India's state refiners have stopped Russian oil purchases as the discounts narrowed and Trump warned countries not to by Moscow's oil, industry sources said. From January 21, the EU will stop direct imports of fuels made from Russian oil.
Here are details of fuel exports from India's two big private refiners.
NAYARA ENERGY
Nayara, recently sanctioned by the European Union, exported nearly 3 million tons of refined fuel in the first half of 2025, data from trade sources showed, or 30% of its total output.
Swiss-based trader Vitol was the top buyer of refined products from Nayara, including diesel and gasoline, for discharge in the United Arab Emirates and West Africa, the data showed.
Other buyers included Aramco Trading, Shell SHEL.L, and BP BP.L.
Nayara was forced to cut output at its 400,000-barrel-per-day refinery at the western port of Vadinar due to difficulties in securing ships for exports after the sanctions, Reuters reported.
The refiner, majority-owned by Russian entities including oil major Rosneft ROSN.MM, sells about 70% of its refined fuels in India through more than 6,600 retail outlets, it said in a Delhi court filing.
RELIANCE INDUSTRIES
Reliance, operator of the world's largest refining complex at Jamnagar, is a much bigger exporter.
Controlled by billionaire Mukesh Ambani, Reliance exported 21.66 million tons of refined products in the first six months of 2025 to buyers such as BP BP.L, Exxon Mobil XOM.N, GlencoreGLEN.L, Vitol and Trafigura, the data showed.
Europe takes the biggest chunk, or 28%, of Reliance's exports, according to the data analysed by Reuters.
The table shows exports by Nayara Energy and Reliance Industries between January and June 2025, according to data obtained from sources. Units are 1,000 tons.
Product | Nayara Energy | Reliance Industries Ltd |
Diesel | 1,650 | 9,810 |
Gasoline | 530 | 6,140 |
Jet fuel | 690 | 2,060 |
Naphtha | 100 | 1,730 |
Alkylates | 0 | 1,590 |
Others | 0 | 340 |
2,970 | 21,670 |
Note: Totals may not tally due to rounding-off.
Top buyers of Nayara Energy's refined fuels in H1 2025 https://reut.rs/40Btn0U
Top buyers of RIL's refined fuels in H1 2025 https://reut.rs/471VWZ9
Reliance Industries: India's top Russian oil buyer sells most of its fuel to Europe https://reut.rs/4oh1mpn
(Reporting by Nidhi Verma and Mohi Narayan; Editing by Florence Tan and Clarence Fernandez)
(([email protected]; X: @nidhi712 Reuters Messaging: nidhi.verma.thomsonreuters.com@reuters.))
By Nidhi Verma and Mohi Narayan
NEW DELHI, Aug 6 (Reuters) - India's exports of refined fuel are in the spotlight after last month's European Union sanctions while U.S. President Donald Trump has threatened a tariff hike over its oil purchases from Russia.
The South Asian nation became the top buyer of Russian seaborne crude after Moscow's 2022 invasion of Ukraine. Private refiners Reliance Industries RELI.NS and Nayara are Russia's top Indian oil clients, trade data shows.
India's state refiners have stopped Russian oil purchases as the discounts narrowed and Trump warned countries not to by Moscow's oil, industry sources said. From January 21, the EU will stop direct imports of fuels made from Russian oil.
Here are details of fuel exports from India's two big private refiners.
NAYARA ENERGY
Nayara, recently sanctioned by the European Union, exported nearly 3 million tons of refined fuel in the first half of 2025, data from trade sources showed, or 30% of its total output.
Swiss-based trader Vitol was the top buyer of refined products from Nayara, including diesel and gasoline, for discharge in the United Arab Emirates and West Africa, the data showed.
Other buyers included Aramco Trading, Shell SHEL.L, and BP BP.L.
Nayara was forced to cut output at its 400,000-barrel-per-day refinery at the western port of Vadinar due to difficulties in securing ships for exports after the sanctions, Reuters reported.
The refiner, majority-owned by Russian entities including oil major Rosneft ROSN.MM, sells about 70% of its refined fuels in India through more than 6,600 retail outlets, it said in a Delhi court filing.
RELIANCE INDUSTRIES
Reliance, operator of the world's largest refining complex at Jamnagar, is a much bigger exporter.
Controlled by billionaire Mukesh Ambani, Reliance exported 21.66 million tons of refined products in the first six months of 2025 to buyers such as BP BP.L, Exxon Mobil XOM.N, GlencoreGLEN.L, Vitol and Trafigura, the data showed.
Europe takes the biggest chunk, or 28%, of Reliance's exports, according to the data analysed by Reuters.
The table shows exports by Nayara Energy and Reliance Industries between January and June 2025, according to data obtained from sources. Units are 1,000 tons.
Product | Nayara Energy | Reliance Industries Ltd |
Diesel | 1,650 | 9,810 |
Gasoline | 530 | 6,140 |
Jet fuel | 690 | 2,060 |
Naphtha | 100 | 1,730 |
Alkylates | 0 | 1,590 |
Others | 0 | 340 |
2,970 | 21,670 |
Note: Totals may not tally due to rounding-off.
Top buyers of Nayara Energy's refined fuels in H1 2025 https://reut.rs/40Btn0U
Top buyers of RIL's refined fuels in H1 2025 https://reut.rs/471VWZ9
Reliance Industries: India's top Russian oil buyer sells most of its fuel to Europe https://reut.rs/4oh1mpn
(Reporting by Nidhi Verma and Mohi Narayan; Editing by Florence Tan and Clarence Fernandez)
(([email protected]; X: @nidhi712 Reuters Messaging: nidhi.verma.thomsonreuters.com@reuters.))
ADNOC Gas Signs 10-Year LNG Supply Agreement With Hindustan Petroleum Corporation
Aug 4 (Reuters) - ADNOC Gas PLC ADNOCGAS.AD:
ADNOC GAS PLC - ADNOC GAS SIGNS 10-YEAR LNG SUPPLY AGREEMENT WITH HINDUSTAN PETROLEUM CORPORATION
ADNOC GAS PLC - LONG-TERM AGREEMENT COVERS DELIVERY OF 0.5 MMTPA LNG
Source text: [ID:]
Further company coverage: ADNOCGAS.AD
(([email protected];))
Aug 4 (Reuters) - ADNOC Gas PLC ADNOCGAS.AD:
ADNOC GAS PLC - ADNOC GAS SIGNS 10-YEAR LNG SUPPLY AGREEMENT WITH HINDUSTAN PETROLEUM CORPORATION
ADNOC GAS PLC - LONG-TERM AGREEMENT COVERS DELIVERY OF 0.5 MMTPA LNG
Source text: [ID:]
Further company coverage: ADNOCGAS.AD
(([email protected];))
EXCLUSIVE-Shippers ask to end contracts with Russian-backed refiner Nayara, sources say
Repeats story with no changes to text
India's Seven Islands, GESCO seek release of ships, sources say
Nayara trims refinery runs on storage constraints, sources say
HPCL diverts vessel from Vadinar to Mangalore, sources say
India is top importer of seaborne Russian crude
By Nidhi Verma and Mohi Narayan
NEW DELHI, July 29 (Reuters) - The owners of three vessels chartered by India's Nayara Energy have asked to end their contracts with company, six sources familiar with the matter said on Tuesday, under pressure from EU sanctions imposed on the Russian-owned refiner.
Nayara, majority-owned by Russian entities including oil major Rosneft ROSN.MM, runs India's third-biggest refinery and exports refined products and also supplies them domestically.
Fresh European Union sanctions unveiled on July 18 that target Russia and its energy sector over Moscow's war in Ukraine, have been increasingly disruptive to Nayara. Reuters earlier reported it has been forced to reduce operations at its 400,000-barrels-per-day refinery due to fuel storage constraints.
India-based Seven Islands Shipping Ltd SEVI.NS and Great Eastern Shipping Co GESC.NS (GESCO) have asked Nayara to release the three clean products tankers from their contracts, citing concerns over the sanctions, five of the sources told Reuters.
Seven Islands is seeking the release of its medium-range vessels Bourbon and Courage, while GESCO has sought the return of the Jag Pooja, the sources said.
The sources declined to be named as they were not authorised to speak to the media.
Mumbai-based Nayara did not immediately respond to a Reuters request for comment. It has previously criticised the EU sanctions, calling them " unjust and unilateral ".
Seven Islands and GESCO did not immediately respond to requests for comment.
Bourbon is anchored near Vadinar port in western India, where Nayara's refinery is based, while Courage and Jag Pooja are floating off Kochi and Ennore ports, respectively, data from analytics firm Kpler showed.
Another tanker, Sanmar Songbird, chartered by Indian state refiner Hindustan Petroleum Corp HPCL.NS, was scheduled to load gasoline from Nayara on Tuesday, according to three sources and LSEG data. But it has since been diverted to load from Mangalore Refinery and Petrochemicals Ltd MRPL.NS, sources said.
The diversion was due to the sanctions and the lack of available insurance cover for the voyage, they said.
HPCL and Sanmar did not immediately respond to requests for comment.
India has become the biggest importer of Russian seaborne crude since Moscow launched its full-scale invasion of Ukraine in early 2022.
Last week, Reuters reported that a tanker carrying Russian Urals crude was diverted from Nayara's Vadinar port following the EU sanctions announcement, while two other tankers skipped loading refined products there.
Nayara's CEO resigned in the wake of the new sanctions, and the company filed a court case in India against Microsoft MSFT.O after the U.S. software giant suspended services to the firm.
(Reporting by Nidhi Verma and Mohi Narayan in New Delhi; Additional reporting by Trixie Yap in Singapore; Editing by Florence Tan, Tony Munroe, Bernadette Baum and Joe Bavier)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
Repeats story with no changes to text
India's Seven Islands, GESCO seek release of ships, sources say
Nayara trims refinery runs on storage constraints, sources say
HPCL diverts vessel from Vadinar to Mangalore, sources say
India is top importer of seaborne Russian crude
By Nidhi Verma and Mohi Narayan
NEW DELHI, July 29 (Reuters) - The owners of three vessels chartered by India's Nayara Energy have asked to end their contracts with company, six sources familiar with the matter said on Tuesday, under pressure from EU sanctions imposed on the Russian-owned refiner.
Nayara, majority-owned by Russian entities including oil major Rosneft ROSN.MM, runs India's third-biggest refinery and exports refined products and also supplies them domestically.
Fresh European Union sanctions unveiled on July 18 that target Russia and its energy sector over Moscow's war in Ukraine, have been increasingly disruptive to Nayara. Reuters earlier reported it has been forced to reduce operations at its 400,000-barrels-per-day refinery due to fuel storage constraints.
India-based Seven Islands Shipping Ltd SEVI.NS and Great Eastern Shipping Co GESC.NS (GESCO) have asked Nayara to release the three clean products tankers from their contracts, citing concerns over the sanctions, five of the sources told Reuters.
Seven Islands is seeking the release of its medium-range vessels Bourbon and Courage, while GESCO has sought the return of the Jag Pooja, the sources said.
The sources declined to be named as they were not authorised to speak to the media.
Mumbai-based Nayara did not immediately respond to a Reuters request for comment. It has previously criticised the EU sanctions, calling them " unjust and unilateral ".
Seven Islands and GESCO did not immediately respond to requests for comment.
Bourbon is anchored near Vadinar port in western India, where Nayara's refinery is based, while Courage and Jag Pooja are floating off Kochi and Ennore ports, respectively, data from analytics firm Kpler showed.
Another tanker, Sanmar Songbird, chartered by Indian state refiner Hindustan Petroleum Corp HPCL.NS, was scheduled to load gasoline from Nayara on Tuesday, according to three sources and LSEG data. But it has since been diverted to load from Mangalore Refinery and Petrochemicals Ltd MRPL.NS, sources said.
The diversion was due to the sanctions and the lack of available insurance cover for the voyage, they said.
HPCL and Sanmar did not immediately respond to requests for comment.
India has become the biggest importer of Russian seaborne crude since Moscow launched its full-scale invasion of Ukraine in early 2022.
Last week, Reuters reported that a tanker carrying Russian Urals crude was diverted from Nayara's Vadinar port following the EU sanctions announcement, while two other tankers skipped loading refined products there.
Nayara's CEO resigned in the wake of the new sanctions, and the company filed a court case in India against Microsoft MSFT.O after the U.S. software giant suspended services to the firm.
(Reporting by Nidhi Verma and Mohi Narayan in New Delhi; Additional reporting by Trixie Yap in Singapore; Editing by Florence Tan, Tony Munroe, Bernadette Baum and Joe Bavier)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
EXCLUSIVE-Shippers ask to end contracts with Russian-backed refiner Nayara, sources say
India's Seven Islands, GESCO seek release of ships, sources say
Nayara trims refinery runs on storage constraints, sources say
HPCL diverts vessel from Vadinar to Mangalore, sources say
India is top importer of seaborne Russian crude
Recasts, adds details on ships, details from paragraph 7
By Nidhi Verma and Mohi Narayan
NEW DELHI, July 29 (Reuters) - The owners of three vessels chartered by India's Nayara Energy have asked to end their contracts with company, six sources familiar with the matter said on Tuesday, under pressure from EU sanctions imposed on the Russian-owned refiner.
Nayara, majority-owned by Russian entities including oil major Rosneft ROSN.MM, runs India's third-biggest refinery and exports refined products and also supplies them domestically.
Fresh European Union sanctions unveiled on July 18 that target Russia and its energy sector over Moscow's war in Ukraine, have been increasingly disruptive to Nayara. Reuters earlier reported it has been forced to reduce operations at its 400,000-barrels-per-day refinery due to fuel storage constraints.
India-based Seven Islands Shipping Ltd SEVI.NS and Great Eastern Shipping Co GESC.NS (GESCO) have asked Nayara to release the three clean products tankers from their contracts, citing concerns over the sanctions, five of the sources told Reuters.
Seven Islands is seeking the release of its medium-range vessels Bourbon and Courage, while GESCO has sought the return of the Jag Pooja, the sources said.
The sources declined to be named as they were not authorised to speak to the media.
Mumbai-based Nayara did not immediately respond to a Reuters request for comment. It has previously criticised the EU sanctions, calling them " unjust and unilateral ".
Seven Islands and GESCO did not immediately respond to requests for comment.
Bourbon is anchored near Vadinar port in western India, where Nayara's refinery is based, while Courage and Jag Pooja are floating off Kochi and Ennore ports, respectively, data from analytics firm Kpler showed.
Another tanker, Sanmar Songbird, chartered by Indian state refiner Hindustan Petroleum Corp HPCL.NS, was scheduled to load gasoline from Nayara on Tuesday, according to three sources and LSEG data. But it has since been diverted to load from Mangalore Refinery and Petrochemicals Ltd MRPL.NS, sources said.
The diversion was due to the sanctions and the lack of available insurance cover for the voyage, they said.
HPCL and Sanmar did not immediately respond to requests for comment.
India has become the biggest importer of Russian seaborne crude since Moscow launched its full-scale invasion of Ukraine in early 2022.
Last week, Reuters reported that a tanker carrying Russian Urals crude was diverted from Nayara's Vadinar port following the EU sanctions announcement, while two other tankers skipped loading refined products there.
Nayara's CEO resigned in the wake of the new sanctions, and the company filed a court case in India against Microsoft MSFT.O after the U.S. software giant suspended services to the firm.
(Reporting by Nidhi Verma and Mohi Narayan in New Delhi; Additional reporting by Trixie Yap in Singapore; Editing by Florence Tan, Tony Munroe, Bernadette Baum and Joe Bavier)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
India's Seven Islands, GESCO seek release of ships, sources say
Nayara trims refinery runs on storage constraints, sources say
HPCL diverts vessel from Vadinar to Mangalore, sources say
India is top importer of seaborne Russian crude
Recasts, adds details on ships, details from paragraph 7
By Nidhi Verma and Mohi Narayan
NEW DELHI, July 29 (Reuters) - The owners of three vessels chartered by India's Nayara Energy have asked to end their contracts with company, six sources familiar with the matter said on Tuesday, under pressure from EU sanctions imposed on the Russian-owned refiner.
Nayara, majority-owned by Russian entities including oil major Rosneft ROSN.MM, runs India's third-biggest refinery and exports refined products and also supplies them domestically.
Fresh European Union sanctions unveiled on July 18 that target Russia and its energy sector over Moscow's war in Ukraine, have been increasingly disruptive to Nayara. Reuters earlier reported it has been forced to reduce operations at its 400,000-barrels-per-day refinery due to fuel storage constraints.
India-based Seven Islands Shipping Ltd SEVI.NS and Great Eastern Shipping Co GESC.NS (GESCO) have asked Nayara to release the three clean products tankers from their contracts, citing concerns over the sanctions, five of the sources told Reuters.
Seven Islands is seeking the release of its medium-range vessels Bourbon and Courage, while GESCO has sought the return of the Jag Pooja, the sources said.
The sources declined to be named as they were not authorised to speak to the media.
Mumbai-based Nayara did not immediately respond to a Reuters request for comment. It has previously criticised the EU sanctions, calling them " unjust and unilateral ".
Seven Islands and GESCO did not immediately respond to requests for comment.
Bourbon is anchored near Vadinar port in western India, where Nayara's refinery is based, while Courage and Jag Pooja are floating off Kochi and Ennore ports, respectively, data from analytics firm Kpler showed.
Another tanker, Sanmar Songbird, chartered by Indian state refiner Hindustan Petroleum Corp HPCL.NS, was scheduled to load gasoline from Nayara on Tuesday, according to three sources and LSEG data. But it has since been diverted to load from Mangalore Refinery and Petrochemicals Ltd MRPL.NS, sources said.
The diversion was due to the sanctions and the lack of available insurance cover for the voyage, they said.
HPCL and Sanmar did not immediately respond to requests for comment.
India has become the biggest importer of Russian seaborne crude since Moscow launched its full-scale invasion of Ukraine in early 2022.
Last week, Reuters reported that a tanker carrying Russian Urals crude was diverted from Nayara's Vadinar port following the EU sanctions announcement, while two other tankers skipped loading refined products there.
Nayara's CEO resigned in the wake of the new sanctions, and the company filed a court case in India against Microsoft MSFT.O after the U.S. software giant suspended services to the firm.
(Reporting by Nidhi Verma and Mohi Narayan in New Delhi; Additional reporting by Trixie Yap in Singapore; Editing by Florence Tan, Tony Munroe, Bernadette Baum and Joe Bavier)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
Middle East Crude-Oman, Dubai steady; Murban declines
SINGAPORE, July 28 (Reuters) - Middle East crude benchmark spot premiums of Oman and Dubai held steady on Monday, while that of Murban extended declines after hitting a near six-month peak last week.
Mangalore Refinery and Petrochemicals Ltd MRPL.NS has bought two Azeri Light crude cargoes from Trafigura for September delivery via a tender, trade sources said on Monday, a rare purchase of the grade for the Indian refiner.
The price for the 650,000-barrel cargoes was not immediately clear.
The purchase came after the grade's spot premiums slipped to their lowest level in four years following quality issues.
India's Hindustan Petroleum Corp HPCL.NS bought a total of four million barrels of West African crude last month, trade sources said.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps was unchanged at $2.93 a barrel.
SELLER-BUYER | PRICE ($/BBL) |
RELIANCE-VITOL | 71.10 |
PETROCHINA-GUNVOR | 71.10 |
RELIANCE-VITOL | 71.10 |
RELIANCE-VITOL | 71.10 |
PETROCHINA-GUNVOR | 71.10 |
RELIANCE-VITOL | 71.10 |
PETROCHINA-BP | 71.10 |
PETROCHINA-GUNVOR | 71.10 |
RELIANCE-VITOL | 71.10 |
GLENCORE-EXXONMOBIL | 71.10 |
RELIANCE-GUNVOR | 71.10 |
PRICES ($/BBL)
CURRENT | PREV SESSION | |
GME OMAN | 71.28 | 71.91 |
GME OMAN DIFF TO DUBAI | 3.11 | 3.05 |
CASH DUBAI | 71.10 | 71.79 |
NEWS
An OPEC+ panel is unlikely to alter existing plans to raise oil output when it meets on Monday, four OPEC+ delegates said, noting the producer group is keen to recover market share while summer demand is helping to absorb the extra barrels.
India's crude oil imports in June fell 4.7% month-on-month to 20.32 million metric tons, the lowest level since February, government data showed on Monday.
Russia's daily oil exports from its western ports are set to be around 1.77 million barrels per day (bpd) in August, down from 1.93 million bpd in July's plan, amid the expected rise in refinery runs, Reuters calculations based on data from two sources show.
Saudi Arabia, the world's biggest oil exporter, may hike crude oil prices for Asian buyers for the second month in a row, with September prices set to hit five-month highs on tight supply and robust demand, refining sources said.
For crude prices, oil product cracks and refining margins, please click on the RICs below.
Brent | BRENTSGMc1 |
Dubai | DUBSGSWMc2 |
GME Oman | OQc1 |
Brent/Dubai EFS | DUB-EFS-1M |
PRODUCT CRACKS | |
Fuel oil crack | FO180SGCKMc1 |
Gasoil crack | GO10SGCKMc1 |
Naphtha crack | NAF-SIN-CRK |
Gasoline crack | GL92-SIN-CRK |
Complex refining margins | REF/MARGIN1 |
(Reporting by Siyi Liu in Singapore; Editing by Vijay Kishore)
(([email protected];))
RECENT CRUDE OIL TRADES: Asia ACRU/T Europe CRU/T Americas CRU/TU CRUDE OIL MARKET NEWS Crude oil tenders in Asia CRU/TENDA Crude oil supply outages in Asia CRU/OUT-ASIA-O Refinery outages in Asia REF/OUT-ASIA-O Global arbitrage news and flows O/CRUDEARB W.African crude imports to Asia, monthly O/WAFRICA1 REFINERY MAINTENANCE DIARIES Asia REF/A Middle East REF/ME Europe REF/E NATIONAL CRUDE IMPORT DATA Japan METI/JP1 China O/CHINA1 India O/INDIA2 S.Korea O/KOREA1 Indonesia O/INDO1-CRU CRUDE OIL INVENTORY DATA Japan O/JAPAN1 US EIA/S Europe O/EUROIL1 CRUDE OIL PRODUCTION/OILFIELD NEWS OPEC output survey OPEC/O New Africa fields AFR/NEW New projects ENERGY/NEW New Americas fields AM/NEW CRUDE OIL MARKET REPORTS Middle East CRU/MAsia-Pacific CRU/AP West Africa CRU/WAF North Sea CRU/E Asia outlook ASIA/CRU Europe outlook EUR/CRU Global futures report O/R Technicals report O/I PRICES For all Official Selling Prices OSP/O For a POLL on oil prices O/POLL NYMEX and ICE oil futures OILOIL TOCOM crude oil futures 0#JCO: Dubai, Oman swaps and spread ASIA/SWAP/CRUDE Middle East physical crude diffs CRUDE/ASIA2 Australia physical crude, Tapis swaps CRUDE/ASIA1 Asia-Pacific physical crude CRUDE/ASIA3 All Asian crude oil differentials 0#C-DIF-A All Asian crude oil outright prices 0#C-A
SINGAPORE, July 28 (Reuters) - Middle East crude benchmark spot premiums of Oman and Dubai held steady on Monday, while that of Murban extended declines after hitting a near six-month peak last week.
Mangalore Refinery and Petrochemicals Ltd MRPL.NS has bought two Azeri Light crude cargoes from Trafigura for September delivery via a tender, trade sources said on Monday, a rare purchase of the grade for the Indian refiner.
The price for the 650,000-barrel cargoes was not immediately clear.
The purchase came after the grade's spot premiums slipped to their lowest level in four years following quality issues.
India's Hindustan Petroleum Corp HPCL.NS bought a total of four million barrels of West African crude last month, trade sources said.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps was unchanged at $2.93 a barrel.
SELLER-BUYER | PRICE ($/BBL) |
RELIANCE-VITOL | 71.10 |
PETROCHINA-GUNVOR | 71.10 |
RELIANCE-VITOL | 71.10 |
RELIANCE-VITOL | 71.10 |
PETROCHINA-GUNVOR | 71.10 |
RELIANCE-VITOL | 71.10 |
PETROCHINA-BP | 71.10 |
PETROCHINA-GUNVOR | 71.10 |
RELIANCE-VITOL | 71.10 |
GLENCORE-EXXONMOBIL | 71.10 |
RELIANCE-GUNVOR | 71.10 |
PRICES ($/BBL)
CURRENT | PREV SESSION | |
GME OMAN | 71.28 | 71.91 |
GME OMAN DIFF TO DUBAI | 3.11 | 3.05 |
CASH DUBAI | 71.10 | 71.79 |
NEWS
An OPEC+ panel is unlikely to alter existing plans to raise oil output when it meets on Monday, four OPEC+ delegates said, noting the producer group is keen to recover market share while summer demand is helping to absorb the extra barrels.
India's crude oil imports in June fell 4.7% month-on-month to 20.32 million metric tons, the lowest level since February, government data showed on Monday.
Russia's daily oil exports from its western ports are set to be around 1.77 million barrels per day (bpd) in August, down from 1.93 million bpd in July's plan, amid the expected rise in refinery runs, Reuters calculations based on data from two sources show.
Saudi Arabia, the world's biggest oil exporter, may hike crude oil prices for Asian buyers for the second month in a row, with September prices set to hit five-month highs on tight supply and robust demand, refining sources said.
For crude prices, oil product cracks and refining margins, please click on the RICs below.
Brent | BRENTSGMc1 |
Dubai | DUBSGSWMc2 |
GME Oman | OQc1 |
Brent/Dubai EFS | DUB-EFS-1M |
PRODUCT CRACKS | |
Fuel oil crack | FO180SGCKMc1 |
Gasoil crack | GO10SGCKMc1 |
Naphtha crack | NAF-SIN-CRK |
Gasoline crack | GL92-SIN-CRK |
Complex refining margins | REF/MARGIN1 |
(Reporting by Siyi Liu in Singapore; Editing by Vijay Kishore)
(([email protected];))
RECENT CRUDE OIL TRADES: Asia ACRU/T Europe CRU/T Americas CRU/TU CRUDE OIL MARKET NEWS Crude oil tenders in Asia CRU/TENDA Crude oil supply outages in Asia CRU/OUT-ASIA-O Refinery outages in Asia REF/OUT-ASIA-O Global arbitrage news and flows O/CRUDEARB W.African crude imports to Asia, monthly O/WAFRICA1 REFINERY MAINTENANCE DIARIES Asia REF/A Middle East REF/ME Europe REF/E NATIONAL CRUDE IMPORT DATA Japan METI/JP1 China O/CHINA1 India O/INDIA2 S.Korea O/KOREA1 Indonesia O/INDO1-CRU CRUDE OIL INVENTORY DATA Japan O/JAPAN1 US EIA/S Europe O/EUROIL1 CRUDE OIL PRODUCTION/OILFIELD NEWS OPEC output survey OPEC/O New Africa fields AFR/NEW New projects ENERGY/NEW New Americas fields AM/NEW CRUDE OIL MARKET REPORTS Middle East CRU/MAsia-Pacific CRU/AP West Africa CRU/WAF North Sea CRU/E Asia outlook ASIA/CRU Europe outlook EUR/CRU Global futures report O/R Technicals report O/I PRICES For all Official Selling Prices OSP/O For a POLL on oil prices O/POLL NYMEX and ICE oil futures OILOIL TOCOM crude oil futures 0#JCO: Dubai, Oman swaps and spread ASIA/SWAP/CRUDE Middle East physical crude diffs CRUDE/ASIA2 Australia physical crude, Tapis swaps CRUDE/ASIA1 Asia-Pacific physical crude CRUDE/ASIA3 All Asian crude oil differentials 0#C-DIF-A All Asian crude oil outright prices 0#C-A
Indian refiners' June crude processing drops 4.2% from a month earlier
July 22 (Reuters) - Indian refiners' crude throughput declined by 4.2% month-on-month in June to 5.41 million barrels per day (22.13 million metric tons), according to provisional government data released on Tuesday.
Refinery throughput in May was at 5.47 million barrels per day (23.11 million metric tons). On a year-on-year basis, refinery throughput fell 0.3%.
India's fuel consumption fell 4.7% in June from the previous month to 20.31 million metric tons, oil ministry data showed.
India is the world's third-biggest oil importer and consumer.
"Looking at the last years, refinery runs every year declined from May into June, likely driven by seasonally declining domestic oil demand due to the monsoon," said Giovanni Staunovo, an analyst at UBS.
Meanwhile, Oil Minister Hardeep Singh Puri said India is confident of meeting its oil needs from alternative sources if Russian supplies are hit by secondary sanctions.
U.S. President Donald Trump threatened to hit buyers of Russian exports with sanctions unless Russia agrees a peace deal over the conflict in Ukraine, potentially complicating Moscow's oil sales to China, India and Turkey.
India's monthly oil imports from Russia in June surged 17.4% to about 2 million barrels per day, data provided by trade sources showed.
India's state-run Oil and Natural Gas Corporation ONGC.NS is exploring building a 200,000-240,000 barrel-per-day refinery at Jamnagar in the western Indian state of Gujarat, a company source said last week.
REFINERY PRODUCTION IN TERMS OF CRUDE THROUGHPUT (in 1,000 tons):
June-25 | May-25 | June-24 | April-June 2025 | |
Actual | Actual | Actual | Actual | |
IOCL, Barauni | 556 | 572 | 566 | 1,604 |
IOCL, Bongaigaon | 254 | 259 | 218 | 743 |
IOCL, Digboi | 65 | 47 | 63 | 149 |
IOCL, Gujarat | 949 | 990 | 1,300 | 3,007 |
IOCL, Guwahati | 106 | 111 | 108 | 318 |
IOCL, Haldia | 740 | 750 | 673 | 2,191 |
IOCL, Mathura | 844 | 883 | 845 | 2,552 |
IOCL, Panipat | 1,296 | 1,333 | 1,299 | 3,951 |
IOCL, Paradip | 1,390 | 1,415 | 884 | 4,168 |
BPCL, Bina | 654 | 671 | 678 | 1,978 |
BPCL, Kochi | 1,511 | 1,476 | 1,482 | 4,499 |
BPCL, Mumbai | 1,239 | 1,284 | 1,121 | 3,705 |
HPCL, Mumbai | 828 | 743 | 885 | 2,402 |
HPCL, Visakh | 1,300 | 1,444 | 1,290 | 4,156 |
CPCL, Manali | 1,010 | 1,040 | 930 | 2,981 |
NRL, Numaligarh | 250 | 272 | 246 | 799 |
MRPL, Mangalore | 737 | 1,169 | 1,474 | 3,417 |
ONGC, Tatipaka | 7 | 6 | 6 | 18 |
HMEL, Bhatinda | 1,074 | 1,113 | 1,077 | 3,254 |
RIL, Jamnagar | 2,873 | 2,897 | 2,832 | 7,321 |
RIL, SEZ | 2,737 | 2,876 | 2,627 | 8,726 |
Nayara, Vadinar | 1,709 | 1,762 | 1,598 | 5,136 |
TOTAL | 22,130 | 23,113 | 22,202 | 67,074 |
Source: Ministry of Petroleum and Natural Gas
IOC: Indian Oil Corp IOC.NS
BPCL: Bharat Petroleum Corp Ltd BPCL.NS
HPCL: Hindustan Petroleum Corp Ltd HPCL.NS
CPCL: Chennai Petroleum Corp Ltd CHPC.NS
MRPL: Mangalore Refinery and Petrochemicals Ltd MRPL.NS
Reliance Industries Ltd RELI.NS
Please note that CPCL's CBR refinery is de-commissioned under shutdown due to limitation in meeting required product specifications with the existing configuration.
(Reporting by Anushree Mukherjee in Bengaluru; Editing by Jan Harvey)
(([email protected];))
July 22 (Reuters) - Indian refiners' crude throughput declined by 4.2% month-on-month in June to 5.41 million barrels per day (22.13 million metric tons), according to provisional government data released on Tuesday.
Refinery throughput in May was at 5.47 million barrels per day (23.11 million metric tons). On a year-on-year basis, refinery throughput fell 0.3%.
India's fuel consumption fell 4.7% in June from the previous month to 20.31 million metric tons, oil ministry data showed.
India is the world's third-biggest oil importer and consumer.
"Looking at the last years, refinery runs every year declined from May into June, likely driven by seasonally declining domestic oil demand due to the monsoon," said Giovanni Staunovo, an analyst at UBS.
Meanwhile, Oil Minister Hardeep Singh Puri said India is confident of meeting its oil needs from alternative sources if Russian supplies are hit by secondary sanctions.
U.S. President Donald Trump threatened to hit buyers of Russian exports with sanctions unless Russia agrees a peace deal over the conflict in Ukraine, potentially complicating Moscow's oil sales to China, India and Turkey.
India's monthly oil imports from Russia in June surged 17.4% to about 2 million barrels per day, data provided by trade sources showed.
India's state-run Oil and Natural Gas Corporation ONGC.NS is exploring building a 200,000-240,000 barrel-per-day refinery at Jamnagar in the western Indian state of Gujarat, a company source said last week.
REFINERY PRODUCTION IN TERMS OF CRUDE THROUGHPUT (in 1,000 tons):
June-25 | May-25 | June-24 | April-June 2025 | |
Actual | Actual | Actual | Actual | |
IOCL, Barauni | 556 | 572 | 566 | 1,604 |
IOCL, Bongaigaon | 254 | 259 | 218 | 743 |
IOCL, Digboi | 65 | 47 | 63 | 149 |
IOCL, Gujarat | 949 | 990 | 1,300 | 3,007 |
IOCL, Guwahati | 106 | 111 | 108 | 318 |
IOCL, Haldia | 740 | 750 | 673 | 2,191 |
IOCL, Mathura | 844 | 883 | 845 | 2,552 |
IOCL, Panipat | 1,296 | 1,333 | 1,299 | 3,951 |
IOCL, Paradip | 1,390 | 1,415 | 884 | 4,168 |
BPCL, Bina | 654 | 671 | 678 | 1,978 |
BPCL, Kochi | 1,511 | 1,476 | 1,482 | 4,499 |
BPCL, Mumbai | 1,239 | 1,284 | 1,121 | 3,705 |
HPCL, Mumbai | 828 | 743 | 885 | 2,402 |
HPCL, Visakh | 1,300 | 1,444 | 1,290 | 4,156 |
CPCL, Manali | 1,010 | 1,040 | 930 | 2,981 |
NRL, Numaligarh | 250 | 272 | 246 | 799 |
MRPL, Mangalore | 737 | 1,169 | 1,474 | 3,417 |
ONGC, Tatipaka | 7 | 6 | 6 | 18 |
HMEL, Bhatinda | 1,074 | 1,113 | 1,077 | 3,254 |
RIL, Jamnagar | 2,873 | 2,897 | 2,832 | 7,321 |
RIL, SEZ | 2,737 | 2,876 | 2,627 | 8,726 |
Nayara, Vadinar | 1,709 | 1,762 | 1,598 | 5,136 |
TOTAL | 22,130 | 23,113 | 22,202 | 67,074 |
Source: Ministry of Petroleum and Natural Gas
IOC: Indian Oil Corp IOC.NS
BPCL: Bharat Petroleum Corp Ltd BPCL.NS
HPCL: Hindustan Petroleum Corp Ltd HPCL.NS
CPCL: Chennai Petroleum Corp Ltd CHPC.NS
MRPL: Mangalore Refinery and Petrochemicals Ltd MRPL.NS
Reliance Industries Ltd RELI.NS
Please note that CPCL's CBR refinery is de-commissioned under shutdown due to limitation in meeting required product specifications with the existing configuration.
(Reporting by Anushree Mukherjee in Bengaluru; Editing by Jan Harvey)
(([email protected];))
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.
(Reporting by Emily Chow; Editing by Himani Sarkar)
(([email protected]; Reuters Messaging: [email protected]))
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.
(Reporting by Emily Chow; Editing by Himani Sarkar)
(([email protected]; Reuters Messaging: [email protected]))
EXCLUSIVE-India aims to import about 10% of its cooking gas from US from 2026, say sources
By Nidhi Verma
NEW DELHI, July 8 (Reuters) - 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 IOC.NS, Bharat Petroleum Corp BPCL.NS and Hindustan Petroleum Corp HPCL.NS 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%, 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.
(Reporting by Nidhi Verma; Editing by Tony Munroe and Kate Mayberry)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
By Nidhi Verma
NEW DELHI, July 8 (Reuters) - 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 IOC.NS, Bharat Petroleum Corp BPCL.NS and Hindustan Petroleum Corp HPCL.NS 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%, 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.
(Reporting by Nidhi Verma; Editing by Tony Munroe and Kate Mayberry)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
Asia Fuel Oil Tenders Summary-India's HPCL offers HSFO for end-July
SINGAPORE, July 4 (Reuters) - For tenders of crude and oil products, please click:
Crude CRU/TENDA Naphtha NAP/TENDA Gasoline MOG/TENDA Jet/Diesel MDIS/TENDA Fuel Oil FUEL/TENDA
OUTSTANDING SPOT TENDERS | |||||
ISSUER | GRADE | PORT | VOLUME | LAYCAN | REMARKS |
India/HPCL * | S: HSFO | Mumbai | 33KT | Jul 29-31 | Closing Jul 7 |
Pakistan/PARCO | S: HSFO (180cst; 3.5% S Max) | Karachi | 50KT | End-July | Closing Jul 8 |
(further updates recent tenders closed)
RECENT TENDERS CLOSED (SORTED BY LAYCAN) | |||||
ISSUER | GRADE | PORT | VOLUME | LAYCAN | REMARKS |
Taiwan/CPC | B: LSFO | Keelung | 36KT | Jul-Aug | Shell |
Taiwan/Formosa | S: LSSR | Mailiao | 35KT | Aug | - |
Indonesia/Pertamina | S: Marine Fuel Oil | Cilacap | 200KB | Jul 30-31 | - |
South Korea/S-Oil | S: Slurry | Onsan | 25KT | Jul 27-31 | - |
India/HPCL | S: HSFO | Vizag | 33KT | Jul 26-28 | Trafigura |
Thailand/PTT | S: HSFO (380cst) | Sriracha | 18KT | Jul 24-28 | - |
Indonesia/Pertamina | S: V-1250 LSWR (0.45% S max) | Balikpapan | 200KB | Jul 23-24/Jul 29-30 | - |
Sri Lanka/Ceypetco | S: LSFO (180cst; 2.0% S Max) | Colombo | 35KT (+/-5%) | Jul 22-23 | - |
Taiwan/Formosa | S: Main Column Bottoms | Mailiao | 40KT | Jul 15-18 | - |
Nigeria/Dangote | S: Fuel Oil | Lekki | 130KT | Jul 15-17 | - |
Taiwan/CPC | S: Fuel Oil | Kaohsiung | 35KT | Jul 10-12 | - |
India/HPCL | S: HSFO | Mumbai | 33KT | Jul 10-12 | - |
Indonesia/Pertamina | S: Marine Fuel Oil | Sungai Pakning | 200KBx2 | Jul 10-11; Jul 21-22 | - |
South Korea/S-Oil | S: Slurry | Onsan | 26KTx2 | Jul 9-13; Jul 27-31 | - |
Sri Lanka/LIOC | B: LSFO | Colombo+Trincomalee | 14KT-28KT | Jul 8-15/Jul 12-16 | - |
Nigeria/Dangote | S: CBFS | Lekki | 90KT | Jul 8-10 | - |
Vietnam/Nghi Son | S: Fuel Oil | Nghi Son | 10KT (+/-5%) | Jul 4-6 | - |
Sri Lanka/Ceypetco | S: LSFO (180cst; 2.0% S Max) | Colombo | 35KT (+/-5%) | Jul 4-5 | - |
Nigeria/Dangote | S: Fuel Oil | Lekki | 130KT | Jul 3-7 | - |
India/BPCL | S: HSFO (380cst) | Mumbai | 28KT | Jul 3-4 | - |
Taiwan/Formosa | S: LSFO | Mailiao | 40KT/80KT | Jul 1-15 | - |
Taiwan/CPC | S: Catalyst Fractionator Bottom | Keelung | 20KT | Jul 1-31 | - |
Taiwan/CPC | B: VLSFO | Keelung | 38KT | Jun-Jul | - |
Kuwait/Al Zour | S: VLSFO (0.5% S Max) | Mina Al Zour | 130KT | Jun 28-29 | Idemitsu |
Indonesia/Pertamina | S: Marine Fuel Oil | Cilacap | 200KB | Jun 26-27 | - |
India/HPCL | S: HSFO | Vizag | 33KTx4 | Jun 25-27; Jul 3-5; Jul 11-13; Jul 19-21 | E3 (Jul 3-5; Jul 11-13) |
India/Reliance | S: Carbon Black Feedstock | Sikka | 70KT | Jun 25-29 | - |
Thailand/PTT | S: LSFO | Map Ta Phut | 50KT | Jun 23-25 | - |
Thailand/PTT | S: HSFO (380cst) | Sriracha | 25KT | Jun 22-26 | Shell |
India/Reliance | S: Light Cycle Oil | Sikka | 40KT | Jun 20-21 | - |
India/HPCL | S: HSFO | Mumbai | 33KT | Jun 18-20 | - |
Taiwan/Formosa | S: Main Column Bottoms | Mailiao | 40KT | Jun 17-19 | BP |
India/IOC | S: HSFO | Mumbai | 21.5-24KT | Jun 15-30 | - |
India/IOC | S: HSFO | Mangalore | 10-14.5KT | Jun 15-30 | - |
Kuwait/KPC | S: HSFO (380cst; 2.5% S Max) | MAA | 60KTx2 | Jun 14-15; Jun 20-21 | ATC (Jun 14-15); Trafigura (Jun 20-21) |
Bahrain/BAPCO | S: Atmospheric Residue | Sitra | 320KB | Jun 14-17 | ATC |
India/IOC | S: VLSFO | Mangalore | 20KT | Jun 13-15 | - |
Pakistan/PARCO | S: HSFO (180cst; 3.5% S Max) | Karachi | 50KT | Jun 13-15 | PetroChina |
Sri Lanka/Ceypetco | S: LSFO (180cst; 2.0% S Max) | Colombo | 30KT (+/-5%) | Jun 12-13 | - |
Indonesia/Pertamina | S: V-1250 LSWR (0.45% S max) | Balikpapan | 200KBx2 | Jun 11-12; Jun 28-29 | - |
Malaysia/PRefChem | S: Atmospheric Residue | Pengerang | 500KB | Jun 11-12 | Vitol |
South Korea/S-Oil | S: Slurry | Onsan | 25KTx2 | Jun 9-13; Jun 26-30 | Shell (Jun 26-30) |
India/HPCL | S: HSFO (380cst; 4.0%S Max) | Mumbai | 33KT | Jun 7-9 | - |
Taiwan/CPC | S: Catalyst Fractionator Bottom | Taiwan | 38KT | Jun 6-10 | - |
Bahrain/BAPCO | S: Vacuum Gasoil | Sitra | 320KB | Jun 5-10 | - |
Nigeria/Dangote | S: Fuel Oil (LSSR+Slurry) | Lekki | 120KT | Jun 3-5 | - |
India/HPCL | S: HSFO | Vizag | 33KTx3 | Jun 2-4; Jun 10-12; Jun 18-20 | Vitol (Jun 2-4); E3 (Jun 10-12; 18-20) |
India/BPCL | S: HSFO (380cst) | Mumbai | 25KT | Jun 1-2 | - |
(Reporting by Jeslyn Lerh; Editing by Rashmi Aich)
SINGAPORE, July 4 (Reuters) - For tenders of crude and oil products, please click:
Crude CRU/TENDA Naphtha NAP/TENDA Gasoline MOG/TENDA Jet/Diesel MDIS/TENDA Fuel Oil FUEL/TENDA
OUTSTANDING SPOT TENDERS | |||||
ISSUER | GRADE | PORT | VOLUME | LAYCAN | REMARKS |
India/HPCL * | S: HSFO | Mumbai | 33KT | Jul 29-31 | Closing Jul 7 |
Pakistan/PARCO | S: HSFO (180cst; 3.5% S Max) | Karachi | 50KT | End-July | Closing Jul 8 |
(further updates recent tenders closed)
RECENT TENDERS CLOSED (SORTED BY LAYCAN) | |||||
ISSUER | GRADE | PORT | VOLUME | LAYCAN | REMARKS |
Taiwan/CPC | B: LSFO | Keelung | 36KT | Jul-Aug | Shell |
Taiwan/Formosa | S: LSSR | Mailiao | 35KT | Aug | - |
Indonesia/Pertamina | S: Marine Fuel Oil | Cilacap | 200KB | Jul 30-31 | - |
South Korea/S-Oil | S: Slurry | Onsan | 25KT | Jul 27-31 | - |
India/HPCL | S: HSFO | Vizag | 33KT | Jul 26-28 | Trafigura |
Thailand/PTT | S: HSFO (380cst) | Sriracha | 18KT | Jul 24-28 | - |
Indonesia/Pertamina | S: V-1250 LSWR (0.45% S max) | Balikpapan | 200KB | Jul 23-24/Jul 29-30 | - |
Sri Lanka/Ceypetco | S: LSFO (180cst; 2.0% S Max) | Colombo | 35KT (+/-5%) | Jul 22-23 | - |
Taiwan/Formosa | S: Main Column Bottoms | Mailiao | 40KT | Jul 15-18 | - |
Nigeria/Dangote | S: Fuel Oil | Lekki | 130KT | Jul 15-17 | - |
Taiwan/CPC | S: Fuel Oil | Kaohsiung | 35KT | Jul 10-12 | - |
India/HPCL | S: HSFO | Mumbai | 33KT | Jul 10-12 | - |
Indonesia/Pertamina | S: Marine Fuel Oil | Sungai Pakning | 200KBx2 | Jul 10-11; Jul 21-22 | - |
South Korea/S-Oil | S: Slurry | Onsan | 26KTx2 | Jul 9-13; Jul 27-31 | - |
Sri Lanka/LIOC | B: LSFO | Colombo+Trincomalee | 14KT-28KT | Jul 8-15/Jul 12-16 | - |
Nigeria/Dangote | S: CBFS | Lekki | 90KT | Jul 8-10 | - |
Vietnam/Nghi Son | S: Fuel Oil | Nghi Son | 10KT (+/-5%) | Jul 4-6 | - |
Sri Lanka/Ceypetco | S: LSFO (180cst; 2.0% S Max) | Colombo | 35KT (+/-5%) | Jul 4-5 | - |
Nigeria/Dangote | S: Fuel Oil | Lekki | 130KT | Jul 3-7 | - |
India/BPCL | S: HSFO (380cst) | Mumbai | 28KT | Jul 3-4 | - |
Taiwan/Formosa | S: LSFO | Mailiao | 40KT/80KT | Jul 1-15 | - |
Taiwan/CPC | S: Catalyst Fractionator Bottom | Keelung | 20KT | Jul 1-31 | - |
Taiwan/CPC | B: VLSFO | Keelung | 38KT | Jun-Jul | - |
Kuwait/Al Zour | S: VLSFO (0.5% S Max) | Mina Al Zour | 130KT | Jun 28-29 | Idemitsu |
Indonesia/Pertamina | S: Marine Fuel Oil | Cilacap | 200KB | Jun 26-27 | - |
India/HPCL | S: HSFO | Vizag | 33KTx4 | Jun 25-27; Jul 3-5; Jul 11-13; Jul 19-21 | E3 (Jul 3-5; Jul 11-13) |
India/Reliance | S: Carbon Black Feedstock | Sikka | 70KT | Jun 25-29 | - |
Thailand/PTT | S: LSFO | Map Ta Phut | 50KT | Jun 23-25 | - |
Thailand/PTT | S: HSFO (380cst) | Sriracha | 25KT | Jun 22-26 | Shell |
India/Reliance | S: Light Cycle Oil | Sikka | 40KT | Jun 20-21 | - |
India/HPCL | S: HSFO | Mumbai | 33KT | Jun 18-20 | - |
Taiwan/Formosa | S: Main Column Bottoms | Mailiao | 40KT | Jun 17-19 | BP |
India/IOC | S: HSFO | Mumbai | 21.5-24KT | Jun 15-30 | - |
India/IOC | S: HSFO | Mangalore | 10-14.5KT | Jun 15-30 | - |
Kuwait/KPC | S: HSFO (380cst; 2.5% S Max) | MAA | 60KTx2 | Jun 14-15; Jun 20-21 | ATC (Jun 14-15); Trafigura (Jun 20-21) |
Bahrain/BAPCO | S: Atmospheric Residue | Sitra | 320KB | Jun 14-17 | ATC |
India/IOC | S: VLSFO | Mangalore | 20KT | Jun 13-15 | - |
Pakistan/PARCO | S: HSFO (180cst; 3.5% S Max) | Karachi | 50KT | Jun 13-15 | PetroChina |
Sri Lanka/Ceypetco | S: LSFO (180cst; 2.0% S Max) | Colombo | 30KT (+/-5%) | Jun 12-13 | - |
Indonesia/Pertamina | S: V-1250 LSWR (0.45% S max) | Balikpapan | 200KBx2 | Jun 11-12; Jun 28-29 | - |
Malaysia/PRefChem | S: Atmospheric Residue | Pengerang | 500KB | Jun 11-12 | Vitol |
South Korea/S-Oil | S: Slurry | Onsan | 25KTx2 | Jun 9-13; Jun 26-30 | Shell (Jun 26-30) |
India/HPCL | S: HSFO (380cst; 4.0%S Max) | Mumbai | 33KT | Jun 7-9 | - |
Taiwan/CPC | S: Catalyst Fractionator Bottom | Taiwan | 38KT | Jun 6-10 | - |
Bahrain/BAPCO | S: Vacuum Gasoil | Sitra | 320KB | Jun 5-10 | - |
Nigeria/Dangote | S: Fuel Oil (LSSR+Slurry) | Lekki | 120KT | Jun 3-5 | - |
India/HPCL | S: HSFO | Vizag | 33KTx3 | Jun 2-4; Jun 10-12; Jun 18-20 | Vitol (Jun 2-4); E3 (Jun 10-12; 18-20) |
India/BPCL | S: HSFO (380cst) | Mumbai | 25KT | Jun 1-2 | - |
(Reporting by Jeslyn Lerh; Editing by Rashmi Aich)
India Oil Minister Says Hopeful That Finance Ministry Will Release LPG Compensation For State Fuel Retailers
July 1 (Reuters) -
INDIA OIL MINISTER: HOPEFUL THAT FINANCE MINISTRY WILL RELEASE LPG COMPENSATION FOR STATE FUEL RETAILERS
Source text: [ID:]
Further company coverage: [ ]
(([email protected];;))
July 1 (Reuters) -
INDIA OIL MINISTER: HOPEFUL THAT FINANCE MINISTRY WILL RELEASE LPG COMPENSATION FOR STATE FUEL RETAILERS
Source text: [ID:]
Further company coverage: [ ]
(([email protected];;))
Indian refiners' May crude processing edges up 0.4% from a year earlier
June 26 (Reuters) - Indian refiners' throughput in May rose 0.4% year-on-year to 5.47 million barrels per day (23.11 million metric tons), provisional government data showed on Thursday.
Refinery throughput in April was at 5.25 million barrels per day (21.49 million metric tons).
India's fuel demand in May rose to its highest in more than a year, while crude oil imports reached a record high of 23.32 million metric tons.
The country is the world's third-biggest oil importer and consumer.
"What drives refinery runs is domestic demand and refined product net exports. Oil demand was modestly up in May versus one year ago and refined product exports lower versus last year, so I guess that is the reason for the modest change," said Giovanni Staunovo, an analyst at UBS.
The share of Russian oil in India's imports in May declined marginally as refiners cut purchases from Moscow by 15.7% to 1.7 million barrels per day (bpd), tanker data from trade and industry sources showed.
India's Mangalore Refinery and Petrochemicals Ltd MRPL.NS shut its 144,000 bpd crude distillation unit in mid-May, according to a refinery source and four traders who confirmed the development in early May.
REFINERY PRODUCTION IN TERMS OF CRUDE THROUGHPUT (in 1,000 tons):
April 2025 | May 2025 | May 2024 | April-May 2025 | |
Actual | Actual | Actual | Actual | |
IOCL, Barauni | 476 | 572 | 549 | 1,047 |
IOCL, Bongaigaon | 230 | 259 | 60 | 489 |
IOCL, Digboi | 37 | 47 | 65 | 84 |
IOCL, Gujarat | 1,068 | 990 | 1,326 | 2,059 |
IOCL, Guwahati | 100 | 111 | 111 | 212 |
IOCL, Haldia | 701 | 750 | 690 | 1,451 |
IOCL, Mathura | 825 | 883 | 840 | 1708 |
IOCL, Panipat | 1,322 | 1,333 | 1,269 | 2,655 |
IOCL, Paradip | 1,362 | 1,415 | 1,155 | 2,777 |
BPCL, Bina | 653 | 671 | 661 | 1,324 |
BPCL, Kochi | 1,512 | 1,476 | 1,508 | 2,988 |
BPCL, Mumbai | 1,182 | 1,284 | 1,284 | 2,466 |
HPCL, Mumbai | 831 | 743 | 816 | 1574 |
HPCL, Visakh | 1,412 | 1,444 | 1,354 | 2,856 |
CPCL, Manali | 930 | 1,040 | 1,033 | 1,971 |
NRL, Numaligarh | 277 | 272 | 277 | 549 |
MRPL, Mangalore | 1,512 | 1,169 | 1,593 | 2,680 |
ONGC, Tatipaka | 5 | 6 | 6 | 11 |
HMEL, Bhatinda | 721 | 1,113 | 1,111 | 1,835 |
RIL, Jamnagar | 1,551 | 2,897 | 2,933 | 4,447 |
RIL, SEZ | 3,113 | 2,876 | 2,657 | 5,989 |
Nayara, Vadinar | 1,665 | 1,762 | 1,727 | 3,427 |
TOTAL | 21,486 | 23,113 | 23,026 | 44,599 |
Source: Ministry of Petroleum and Natural Gas
IOC: Indian Oil Corp IOC.NS
BPCL: Bharat Petroleum Corp Ltd BPCL.NS
HPCL: Hindustan Petroleum Corp Ltd HPCL.NS
CPCL: Chennai Petroleum Corp Ltd CHPC.NS
MRPL: Mangalore Refinery and Petrochemicals Ltd MRPL.NS
Reliance Industries Ltd RELI.NS
Please note that CPCL's CBR refinery is de-commissioned under shutdown due to limitation in meeting required product specifications with the existing configuration.
(Reporting by Anmol Choubey in Bengaluru; Editing by Sonia Cheema)
(([email protected];))
June 26 (Reuters) - Indian refiners' throughput in May rose 0.4% year-on-year to 5.47 million barrels per day (23.11 million metric tons), provisional government data showed on Thursday.
Refinery throughput in April was at 5.25 million barrels per day (21.49 million metric tons).
India's fuel demand in May rose to its highest in more than a year, while crude oil imports reached a record high of 23.32 million metric tons.
The country is the world's third-biggest oil importer and consumer.
"What drives refinery runs is domestic demand and refined product net exports. Oil demand was modestly up in May versus one year ago and refined product exports lower versus last year, so I guess that is the reason for the modest change," said Giovanni Staunovo, an analyst at UBS.
The share of Russian oil in India's imports in May declined marginally as refiners cut purchases from Moscow by 15.7% to 1.7 million barrels per day (bpd), tanker data from trade and industry sources showed.
India's Mangalore Refinery and Petrochemicals Ltd MRPL.NS shut its 144,000 bpd crude distillation unit in mid-May, according to a refinery source and four traders who confirmed the development in early May.
REFINERY PRODUCTION IN TERMS OF CRUDE THROUGHPUT (in 1,000 tons):
April 2025 | May 2025 | May 2024 | April-May 2025 | |
Actual | Actual | Actual | Actual | |
IOCL, Barauni | 476 | 572 | 549 | 1,047 |
IOCL, Bongaigaon | 230 | 259 | 60 | 489 |
IOCL, Digboi | 37 | 47 | 65 | 84 |
IOCL, Gujarat | 1,068 | 990 | 1,326 | 2,059 |
IOCL, Guwahati | 100 | 111 | 111 | 212 |
IOCL, Haldia | 701 | 750 | 690 | 1,451 |
IOCL, Mathura | 825 | 883 | 840 | 1708 |
IOCL, Panipat | 1,322 | 1,333 | 1,269 | 2,655 |
IOCL, Paradip | 1,362 | 1,415 | 1,155 | 2,777 |
BPCL, Bina | 653 | 671 | 661 | 1,324 |
BPCL, Kochi | 1,512 | 1,476 | 1,508 | 2,988 |
BPCL, Mumbai | 1,182 | 1,284 | 1,284 | 2,466 |
HPCL, Mumbai | 831 | 743 | 816 | 1574 |
HPCL, Visakh | 1,412 | 1,444 | 1,354 | 2,856 |
CPCL, Manali | 930 | 1,040 | 1,033 | 1,971 |
NRL, Numaligarh | 277 | 272 | 277 | 549 |
MRPL, Mangalore | 1,512 | 1,169 | 1,593 | 2,680 |
ONGC, Tatipaka | 5 | 6 | 6 | 11 |
HMEL, Bhatinda | 721 | 1,113 | 1,111 | 1,835 |
RIL, Jamnagar | 1,551 | 2,897 | 2,933 | 4,447 |
RIL, SEZ | 3,113 | 2,876 | 2,657 | 5,989 |
Nayara, Vadinar | 1,665 | 1,762 | 1,727 | 3,427 |
TOTAL | 21,486 | 23,113 | 23,026 | 44,599 |
Source: Ministry of Petroleum and Natural Gas
IOC: Indian Oil Corp IOC.NS
BPCL: Bharat Petroleum Corp Ltd BPCL.NS
HPCL: Hindustan Petroleum Corp Ltd HPCL.NS
CPCL: Chennai Petroleum Corp Ltd CHPC.NS
MRPL: Mangalore Refinery and Petrochemicals Ltd MRPL.NS
Reliance Industries Ltd RELI.NS
Please note that CPCL's CBR refinery is de-commissioned under shutdown due to limitation in meeting required product specifications with the existing configuration.
(Reporting by Anmol Choubey in Bengaluru; Editing by Sonia Cheema)
(([email protected];))
HPCL to invest $231 million to build 24 compressed biogas plants in India
By Nidhi Verma
MEERUT, INDIA, June 20 (Reuters) - Indian state fuel retailer Hindustan Petroleum Corp Ltd (HPCL) HPCL.NS aims to invest about 20 billion rupees ($231.04 million) in the next two to three years to set up 24 compressed biogas (CBG) plants, a company official said on Friday.
India, among the world’s largest greenhouse gas emitters, is exploring the use of organic waste to produce cleaner fuels as part of its efforts to reduce carbon emissions and achieve its 2070 net-zero target.
HPCL Renewable and Green Energy Ltd, an HPCL subsidiary that is executing the project, has already set up two plants and would set up 24 more plants with a daily capacity to produce 10-15 tons each of CBG using agriculture residue, cattle dung and sewage water, among others, said Mohit Dhawan, chief executive of the subsidiary company.
Since April, India has mandated mixing gas used to run automobiles and cooking gas with 1% of CBG.
This would be gradually raised to 5% by 2028-2029, said Vikas Singh, a director in the federal oil ministry.
He said about 28 million cubic meters a day (MMSCMD) of gas is daily used to run automobiles and in cooking.
"We expect this to rise to 44 MMSCMD by 2028-29" Singh said, adding by that time India would have 480 CBG plants, including 195 by state oil and gas companies.
India at present meets nearly half of its gas needs through imports of costly liquefied natural gas (LNG). India wants to raise use of gas in its energy mix to 15% by 2030 from the current 6%.
($1 = 86.5650 Indian rupees)
(Reporting by Nidhi Verma; Editing by Harikrishnan Nair)
By Nidhi Verma
MEERUT, INDIA, June 20 (Reuters) - Indian state fuel retailer Hindustan Petroleum Corp Ltd (HPCL) HPCL.NS aims to invest about 20 billion rupees ($231.04 million) in the next two to three years to set up 24 compressed biogas (CBG) plants, a company official said on Friday.
India, among the world’s largest greenhouse gas emitters, is exploring the use of organic waste to produce cleaner fuels as part of its efforts to reduce carbon emissions and achieve its 2070 net-zero target.
HPCL Renewable and Green Energy Ltd, an HPCL subsidiary that is executing the project, has already set up two plants and would set up 24 more plants with a daily capacity to produce 10-15 tons each of CBG using agriculture residue, cattle dung and sewage water, among others, said Mohit Dhawan, chief executive of the subsidiary company.
Since April, India has mandated mixing gas used to run automobiles and cooking gas with 1% of CBG.
This would be gradually raised to 5% by 2028-2029, said Vikas Singh, a director in the federal oil ministry.
He said about 28 million cubic meters a day (MMSCMD) of gas is daily used to run automobiles and in cooking.
"We expect this to rise to 44 MMSCMD by 2028-29" Singh said, adding by that time India would have 480 CBG plants, including 195 by state oil and gas companies.
India at present meets nearly half of its gas needs through imports of costly liquefied natural gas (LNG). India wants to raise use of gas in its energy mix to 15% by 2030 from the current 6%.
($1 = 86.5650 Indian rupees)
(Reporting by Nidhi Verma; Editing by Harikrishnan Nair)
Middle East Crude-Benchmarks strengthen ahead of Saudi allocations
SINGAPORE, June 9 (Reuters) - Middle East crude benchmarks Dubai, Oman and Murban climbed for a second straight session on Monday to their highest in about a week.
Refiners are awaiting July crude allocation from Saudi Aramco 2222.SE before deciding on incremental purchases for August-loading cargoes.
Separately, ADNOC cut the premium for Upper Zakum's official selling price (OSP) to 10 cents a barrel for July, down from 30 cents in the previous three months.
Indian refiner HPCL HPCL.NS issued a tender seeking West African crude, a trader said.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps rose 21 cents to $1.21 a barrel.
SELLER-BUYER | PRICE ($/BBL) |
VITOL-TRAFIGURA | 65.85 |
BP-TRAFIGURA | 65.83 |
RELIANCE-PETROCHINA | 65.82 |
RELIANCE-TOTAL | 65.82 |
BP-TRAFIGURA | 65.83 |
RELIANCE-PETROCHINA | 65.82 |
RELIANCE-TOTAL | 65.82 |
RELIANCE-PETROCHINA | 65.82 |
UNIPEC-TRAFIGURA | 65.82 |
UNIPEC-PETROCHINA | 65.82 |
UNIPEC-TOTAL | 65.82 |
UNIPEC-PETROCHINA | 65.80 |
VITOL-TOTAL | 65.82 |
UNIPEC-PETROCHINA | 65.80 |
UNIPEC-PETROCHINA | 65.80 |
UNIPEC-PETROCHINA | 65.80 |
UNIPEC-PETROCHINA | 65.80 |
UNIPEC-PETROCHINA | 65.80 |
UNIPEC-PETROCHINA | 65.80 |
HENGLI-PETROCHINA | 65.80 |
VITOL-PETROCHINA | 65.80 |
UNIPEC-TOTAL | 65.80 |
RELIANCE-PETROCHINA | 65.81 |
PRICES ($/BBL)
CURRENT | PREV SESSION | |
GME OMAN | 65.79 | 64.43 |
GME OMAN DIFF TO DUBAI | 1.20 | 0.98 |
CASH DUBAI | 65.80 | 64.45 |
NEWS
China's crude oil imports fell in May to their lowest daily rate in four months, data showed on Monday, as planned maintenance picked up at state-owned and independent refiners.
Rising OPEC+ supplies and new streams of oil coming online globally are increasing options for European and Asian refiners and weighing on export demand for light sweet U.S. crude, contributing to lower prices in the country's main oil-producing regions.
India's fuel demand rose to 21.32 million metric tons in May to register its highest in more than a year, Oil Ministry data showed on Friday.
For crude prices, oil product cracks and refining margins, please click on the RICs below.
Brent | BRENTSGMc1 |
Dubai | DUBSGSWMc2 |
GME Oman | OQc1 |
Brent/Dubai EFS | DUB-EFS-1M |
PRODUCT CRACKS | |
Fuel oil crack | FO180SGCKMc1 |
Gasoil crack | GO10SGCKMc1 |
Naphtha crack | NAF-SIN-CRK |
Gasoline crack | GL92-SIN-CRK |
Complex refining margins | REF/MARGIN1 |
(Reporting by Florence Tan
Editing by David Goodman
)
(([email protected]; Reuters Messaging: [email protected]))
RECENT CRUDE OIL TRADES: Asia ACRU/T Europe CRU/T Americas CRU/TU CRUDE OIL MARKET NEWS Crude oil tenders in Asia CRU/TENDA Crude oil supply outages in Asia CRU/OUT-ASIA-O Refinery outages in Asia REF/OUT-ASIA-O Global arbitrage news and flows O/CRUDEARB W.African crude imports to Asia, monthly O/WAFRICA1 REFINERY MAINTENANCE DIARIES Asia REF/A Middle East REF/ME Europe REF/E NATIONAL CRUDE IMPORT DATA Japan METI/JP1 China O/CHINA1 India O/INDIA2 S.Korea O/KOREA1 Indonesia O/INDO1-CRU CRUDE OIL INVENTORY DATA Japan O/JAPAN1 US EIA/S Europe O/EUROIL1 CRUDE OIL PRODUCTION/OILFIELD NEWS OPEC output survey OPEC/O New Africa fields AFR/NEW New projects ENERGY/NEW New Americas fields AM/NEW CRUDE OIL MARKET REPORTS Middle East CRU/MAsia-Pacific CRU/AP West Africa CRU/WAF North Sea CRU/E Asia outlook ASIA/CRU Europe outlook EUR/CRU Global futures report O/R Technicals report O/I PRICES For all Official Selling Prices OSP/O For a POLL on oil prices O/POLL NYMEX and ICE oil futures OILOIL TOCOM crude oil futures 0#JCO: Dubai, Oman swaps and spread ASIA/SWAP/CRUDE Middle East physical crude diffs CRUDE/ASIA2 Australia physical crude, Tapis swaps CRUDE/ASIA1 Asia-Pacific physical crude CRUDE/ASIA3 All Asian crude oil differentials 0#C-DIF-A All Asian crude oil outright prices 0#C-A
SINGAPORE, June 9 (Reuters) - Middle East crude benchmarks Dubai, Oman and Murban climbed for a second straight session on Monday to their highest in about a week.
Refiners are awaiting July crude allocation from Saudi Aramco 2222.SE before deciding on incremental purchases for August-loading cargoes.
Separately, ADNOC cut the premium for Upper Zakum's official selling price (OSP) to 10 cents a barrel for July, down from 30 cents in the previous three months.
Indian refiner HPCL HPCL.NS issued a tender seeking West African crude, a trader said.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps rose 21 cents to $1.21 a barrel.
SELLER-BUYER | PRICE ($/BBL) |
VITOL-TRAFIGURA | 65.85 |
BP-TRAFIGURA | 65.83 |
RELIANCE-PETROCHINA | 65.82 |
RELIANCE-TOTAL | 65.82 |
BP-TRAFIGURA | 65.83 |
RELIANCE-PETROCHINA | 65.82 |
RELIANCE-TOTAL | 65.82 |
RELIANCE-PETROCHINA | 65.82 |
UNIPEC-TRAFIGURA | 65.82 |
UNIPEC-PETROCHINA | 65.82 |
UNIPEC-TOTAL | 65.82 |
UNIPEC-PETROCHINA | 65.80 |
VITOL-TOTAL | 65.82 |
UNIPEC-PETROCHINA | 65.80 |
UNIPEC-PETROCHINA | 65.80 |
UNIPEC-PETROCHINA | 65.80 |
UNIPEC-PETROCHINA | 65.80 |
UNIPEC-PETROCHINA | 65.80 |
UNIPEC-PETROCHINA | 65.80 |
HENGLI-PETROCHINA | 65.80 |
VITOL-PETROCHINA | 65.80 |
UNIPEC-TOTAL | 65.80 |
RELIANCE-PETROCHINA | 65.81 |
PRICES ($/BBL)
CURRENT | PREV SESSION | |
GME OMAN | 65.79 | 64.43 |
GME OMAN DIFF TO DUBAI | 1.20 | 0.98 |
CASH DUBAI | 65.80 | 64.45 |
NEWS
China's crude oil imports fell in May to their lowest daily rate in four months, data showed on Monday, as planned maintenance picked up at state-owned and independent refiners.
Rising OPEC+ supplies and new streams of oil coming online globally are increasing options for European and Asian refiners and weighing on export demand for light sweet U.S. crude, contributing to lower prices in the country's main oil-producing regions.
India's fuel demand rose to 21.32 million metric tons in May to register its highest in more than a year, Oil Ministry data showed on Friday.
For crude prices, oil product cracks and refining margins, please click on the RICs below.
Brent | BRENTSGMc1 |
Dubai | DUBSGSWMc2 |
GME Oman | OQc1 |
Brent/Dubai EFS | DUB-EFS-1M |
PRODUCT CRACKS | |
Fuel oil crack | FO180SGCKMc1 |
Gasoil crack | GO10SGCKMc1 |
Naphtha crack | NAF-SIN-CRK |
Gasoline crack | GL92-SIN-CRK |
Complex refining margins | REF/MARGIN1 |
(Reporting by Florence Tan
Editing by David Goodman
)
(([email protected]; Reuters Messaging: [email protected]))
RECENT CRUDE OIL TRADES: Asia ACRU/T Europe CRU/T Americas CRU/TU CRUDE OIL MARKET NEWS Crude oil tenders in Asia CRU/TENDA Crude oil supply outages in Asia CRU/OUT-ASIA-O Refinery outages in Asia REF/OUT-ASIA-O Global arbitrage news and flows O/CRUDEARB W.African crude imports to Asia, monthly O/WAFRICA1 REFINERY MAINTENANCE DIARIES Asia REF/A Middle East REF/ME Europe REF/E NATIONAL CRUDE IMPORT DATA Japan METI/JP1 China O/CHINA1 India O/INDIA2 S.Korea O/KOREA1 Indonesia O/INDO1-CRU CRUDE OIL INVENTORY DATA Japan O/JAPAN1 US EIA/S Europe O/EUROIL1 CRUDE OIL PRODUCTION/OILFIELD NEWS OPEC output survey OPEC/O New Africa fields AFR/NEW New projects ENERGY/NEW New Americas fields AM/NEW CRUDE OIL MARKET REPORTS Middle East CRU/MAsia-Pacific CRU/AP West Africa CRU/WAF North Sea CRU/E Asia outlook ASIA/CRU Europe outlook EUR/CRU Global futures report O/R Technicals report O/I PRICES For all Official Selling Prices OSP/O For a POLL on oil prices O/POLL NYMEX and ICE oil futures OILOIL TOCOM crude oil futures 0#JCO: Dubai, Oman swaps and spread ASIA/SWAP/CRUDE Middle East physical crude diffs CRUDE/ASIA2 Australia physical crude, Tapis swaps CRUDE/ASIA1 Asia-Pacific physical crude CRUDE/ASIA3 All Asian crude oil differentials 0#C-DIF-A All Asian crude oil outright prices 0#C-A
HPCL aims to start crude unit at 9MTPA Rajasthan refinery in Oct
May 7 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
HPCL EXEC: EXPECTS TO BEGIN CRUDE PROCESSING AT 9 MTPA RAJASTHAN REFINERY IN 2025
HPCL EXEC: HOPES TO COMMISSION CRUDE UNIT AT RAJASTHAN REFINERY BY OCT 1
HPCL EXEC: EXPECTS TO START PETCHEM UNIT AT RAJASTHAN REFINERY IN JAN 2026
HPCL EXEC: RAJASTHAN REFINERY COULD GIVE GRM OF $20/BBL
HPCL EXEC: CURRENT REVENUE LOSS ON RETAIL SALE OF LPG IS 150-170 RUPEES PER 14.2 KG CYLINDER
HPCL EXEC: TARGETS TO COMMISSION RESIDUE UPGRADE UNITS AT VIZAG REFINERY IN JULY-SEPT QTR
HPCL EXEC: BUYS 5-6 CARGOES OF RUSSIAN OIL IN A MONTH
HPCL EXEC: PROCESS ABOUT 35% RUSSIAN OIL AT ITS REFINERIES
Source text: [ID:]
Further company coverage: HPCL.NS
(([email protected];))
May 7 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
HPCL EXEC: EXPECTS TO BEGIN CRUDE PROCESSING AT 9 MTPA RAJASTHAN REFINERY IN 2025
HPCL EXEC: HOPES TO COMMISSION CRUDE UNIT AT RAJASTHAN REFINERY BY OCT 1
HPCL EXEC: EXPECTS TO START PETCHEM UNIT AT RAJASTHAN REFINERY IN JAN 2026
HPCL EXEC: RAJASTHAN REFINERY COULD GIVE GRM OF $20/BBL
HPCL EXEC: CURRENT REVENUE LOSS ON RETAIL SALE OF LPG IS 150-170 RUPEES PER 14.2 KG CYLINDER
HPCL EXEC: TARGETS TO COMMISSION RESIDUE UPGRADE UNITS AT VIZAG REFINERY IN JULY-SEPT QTR
HPCL EXEC: BUYS 5-6 CARGOES OF RUSSIAN OIL IN A MONTH
HPCL EXEC: PROCESS ABOUT 35% RUSSIAN OIL AT ITS REFINERIES
Source text: [ID:]
Further company coverage: HPCL.NS
(([email protected];))
HPCL Says GRM For Q4 At $8.44 Per BBL
May 6 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
HPCL - GRM FOR Q4 AT $8.44 PER BBL
Further company coverage: HPCL.NS
(([email protected];))
May 6 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
HPCL - GRM FOR Q4 AT $8.44 PER BBL
Further company coverage: HPCL.NS
(([email protected];))
Hindustan Petroleum Corp And ADNOC Trading Sign LNG Supply Agreement
April 30 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
CO AND ADNOC TRADING SIGN LNG SUPPLY AGREEMENT
LNG TO BE RECEIVED AT CHHARA LNG TERMINAL
Source text: ID:nBSEbc48cq
Further company coverage: HPCL.NS
(([email protected];))
April 30 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
CO AND ADNOC TRADING SIGN LNG SUPPLY AGREEMENT
LNG TO BE RECEIVED AT CHHARA LNG TERMINAL
Source text: ID:nBSEbc48cq
Further company coverage: HPCL.NS
(([email protected];))
India New Issue-HPCL to issue 5-year bonds, bankers say
By Khushi Malhotra
MUMBAI, April 24 (Reuters) - India's Hindustan Petroleum Corp HPCL.NS plans to raise 25 billion rupees ($293 million), including a greenshoe option of 20 billion rupees, by selling bonds maturing in five years, three merchant bankers said on Thursday.
The company has invited bids from bankers and investors for the issue on Monday, they said.
HPCL did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on April 24:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HPCL | 5 years | To be decided | 5+20 | April 28 | AAA (Crisil, India Ratings) |
Tata Capital Housing Finance | 3 years | 7.27 | 15.95 | April 24 | AAA (Crisil) |
REC | 5 years and 1 month | To be decided | 5+25 | April 28 | AAA (Crisil, Icra, Care) |
REC | 10 years and 1 month | To be decided | 5+25 | April 28 | AAA (Crisil, Icra, Care) |
IRFC | 5 years | 6.78 | 30 | April 24 | AAA (Crisil, Icra, Care) |
L&T Metro Rail (Hyderabad) | 10 years | To be decided | 28.72 | April 25 | AAA (Crisil) |
Tata Power Renewable Energy | 15 years | To be decided | 10 | April 24 | AA+ (India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 85.3130 Indian rupees)
(Reporting by Khushi Malhotra; Editing by Mrigank Dhaniwala)
By Khushi Malhotra
MUMBAI, April 24 (Reuters) - India's Hindustan Petroleum Corp HPCL.NS plans to raise 25 billion rupees ($293 million), including a greenshoe option of 20 billion rupees, by selling bonds maturing in five years, three merchant bankers said on Thursday.
The company has invited bids from bankers and investors for the issue on Monday, they said.
HPCL did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on April 24:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
HPCL | 5 years | To be decided | 5+20 | April 28 | AAA (Crisil, India Ratings) |
Tata Capital Housing Finance | 3 years | 7.27 | 15.95 | April 24 | AAA (Crisil) |
REC | 5 years and 1 month | To be decided | 5+25 | April 28 | AAA (Crisil, Icra, Care) |
REC | 10 years and 1 month | To be decided | 5+25 | April 28 | AAA (Crisil, Icra, Care) |
IRFC | 5 years | 6.78 | 30 | April 24 | AAA (Crisil, Icra, Care) |
L&T Metro Rail (Hyderabad) | 10 years | To be decided | 28.72 | April 25 | AAA (Crisil) |
Tata Power Renewable Energy | 15 years | To be decided | 10 | April 24 | AA+ (India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 85.3130 Indian rupees)
(Reporting by Khushi Malhotra; Editing by Mrigank Dhaniwala)
India's HPCL rises as Citi expects excise duty hike to offset LPG losses
** Shares of Hindustan Petroleum HPCL.NS up 2.2% at 377 rupees
** Analysts at Citi believe the government will use the recent gains from the excise duty hike on petrol and diesel to offset LPG losses at oil marketing companies (OMCs)
** The Indian government on Tuesday raised excise duty on petrol and diesel by 2 rupees per litre
** Additionally, the domestic LPG price hike would cut more losses for OMCs such as HPCL, says Citi
** Adds valuations of HPCL remain attractive
** Avg rating of 32 analysts covering the stock is "buy", their median PT is 435 rupees - data compiled by LSEG
** Stock down 8% so far in 2025
(Reporitng by Nishit Navin)
(([email protected];))
** Shares of Hindustan Petroleum HPCL.NS up 2.2% at 377 rupees
** Analysts at Citi believe the government will use the recent gains from the excise duty hike on petrol and diesel to offset LPG losses at oil marketing companies (OMCs)
** The Indian government on Tuesday raised excise duty on petrol and diesel by 2 rupees per litre
** Additionally, the domestic LPG price hike would cut more losses for OMCs such as HPCL, says Citi
** Adds valuations of HPCL remain attractive
** Avg rating of 32 analysts covering the stock is "buy", their median PT is 435 rupees - data compiled by LSEG
** Stock down 8% so far in 2025
(Reporitng by Nishit Navin)
(([email protected];))
Itcons E-Solutions Empanelled With HPCL For Temp Staffing Services
April 7 (Reuters) - ITCONS e-Solutions Ltd ITCO.BO:
EMPANELLED WITH HPCL FOR TEMP STAFFING SERVICES
NOW ELIGIBLE FOR HPCL TENDERS AND PROJECTS
Source text: ID:nBSE1V8dkS
Further company coverage: ITCO.BO
(([email protected];;))
April 7 (Reuters) - ITCONS e-Solutions Ltd ITCO.BO:
EMPANELLED WITH HPCL FOR TEMP STAFFING SERVICES
NOW ELIGIBLE FOR HPCL TENDERS AND PROJECTS
Source text: ID:nBSE1V8dkS
Further company coverage: ITCO.BO
(([email protected];;))
Hindustan Petroleum Corp Says Rajneesh Narang Appointed As CFO
March 28 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
RAJNEESH NARANG APPOINTED AS CFO OF HINDUSTAN PETROLEUM
Source text: ID:nBSE2Sy0kH
Further company coverage: HPCL.NS
(([email protected];;))
March 28 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
RAJNEESH NARANG APPOINTED AS CFO OF HINDUSTAN PETROLEUM
Source text: ID:nBSE2Sy0kH
Further company coverage: HPCL.NS
(([email protected];;))
Indian refiners' February crude processing down 4.5% from a year earlier
Adds detail
March 25 (Reuters) - Indian refiners' throughput in February fell 4.5% year on year to 5.12 million barrels per day (21.67 million metric tons), provisional government data showed on Tuesday.
Refinery throughput in January was at 5.61 million barrels per day (23.74 million metric tons).
India's crude oil imports fell 9.9% month on month to 19.10 million tons in February, the lowest since November 2024, according to government data released on Thursday, while February fuel demand fell 5.4% from the same month last year.
India is the world's third-biggest oil importer and consumer.
Meanwhile, U.S. exports of crude oil to India last month climbed to their highest in more than two years, ship tracking data showed, as refiners in the country sought alternative supplies following tighter U.S. sanctions on Russian producers and tankers.
REFINERY PRODUCTION IN TERMS OF CRUDE THROUGHPUT (in 1,000 tons):
January 2025 | February 2025 | February 2024 | April-February 2024-25 | |
Actual | Actual | Actual | Actual | |
IOCL, Barauni | 544 | 456 | 542 | 6,063 |
IOCL, Bongaigaon | 257 | 236 | 239 | 2,513 |
IOCL, Digboi | 66 | 60 | 65 | 708 |
IOCL, Gujarat | 1,316 | 930 | 1,250 | 14,166 |
IOCL, Guwahati | 105 | 99 | 99 | 1,067 |
IOCL, Haldia | 744 | 642 | 678 | 6,207 |
IOCL, Mathura | 740 | 790 | 794 | 7,178 |
IOCL, Panipat | 1,319 | 1,164 | 693 | 14,072 |
IOCL, Paradip | 1,436 | 1,297 | 1,271 | 13,242 |
BPCL, Bina | 688 | 616 | 664 | 7,044 |
BPCL, Kochi | 1,523 | 1,422 | 1,204 | 15,322 |
BPCL, Mumbai | 1,349 | 1,279 | 1,307 | 14,087 |
HPCL, Mumbai | 883 | 806 | 680 | 9,044 |
HPCL, Visakh | 1,423 | 1,308 | 1,254 | 13,912 |
CPCL, Manali | 1,002 | 951 | 1,054 | 9,433 |
NRL, Numaligarh | 288 | 249 | 262 | 2,779 |
MRPL, Mangalore | 1,577 | 1,461 | 1,462 | 16,398 |
ONGC, Tatipaka | 7 | 5 | 6 | 63 |
HMEL, Bhatinda | 1,116 | 1,000 | 885 | 11,939 |
RIL, Jamnagar | 3,032 | 2,763 | 2,695 | 32,036 |
RIL, SEZ | 2,578 | 2,556 | 2,192 | 28,325 |
Nayara, Vadinar | 1,744 | 1,584 | 1,622 | 18,736 |
TOTAL | 23,736 | 21,673 | 22,687 | 244,334 |
Source: Ministry of Petroleum and Natural Gas
IOC: Indian Oil Corp IOC.NS
BPCL: Bharat Petroleum Corp Ltd BPCL.NS
HPCL: Hindustan Petroleum Corp Ltd HPCL.NS
CPCL: Chennai Petroleum Corp Ltd CHPC.NS
MRPL: Mangalore Refinery and Petrochemicals Ltd MRPL.NS
Reliance Industries Ltd RELI.NS
Please note that CPCL's CBR refinery is de-commissioned under shutdown due to limitation in meeting required product specifications with the existing configuration.
(Reporting by Rahul Paswan in Bengaluru
Editing by David Goodman)
(([email protected] ; If within U.S. +1 646 223 8780;;))
Adds detail
March 25 (Reuters) - Indian refiners' throughput in February fell 4.5% year on year to 5.12 million barrels per day (21.67 million metric tons), provisional government data showed on Tuesday.
Refinery throughput in January was at 5.61 million barrels per day (23.74 million metric tons).
India's crude oil imports fell 9.9% month on month to 19.10 million tons in February, the lowest since November 2024, according to government data released on Thursday, while February fuel demand fell 5.4% from the same month last year.
India is the world's third-biggest oil importer and consumer.
Meanwhile, U.S. exports of crude oil to India last month climbed to their highest in more than two years, ship tracking data showed, as refiners in the country sought alternative supplies following tighter U.S. sanctions on Russian producers and tankers.
REFINERY PRODUCTION IN TERMS OF CRUDE THROUGHPUT (in 1,000 tons):
January 2025 | February 2025 | February 2024 | April-February 2024-25 | |
Actual | Actual | Actual | Actual | |
IOCL, Barauni | 544 | 456 | 542 | 6,063 |
IOCL, Bongaigaon | 257 | 236 | 239 | 2,513 |
IOCL, Digboi | 66 | 60 | 65 | 708 |
IOCL, Gujarat | 1,316 | 930 | 1,250 | 14,166 |
IOCL, Guwahati | 105 | 99 | 99 | 1,067 |
IOCL, Haldia | 744 | 642 | 678 | 6,207 |
IOCL, Mathura | 740 | 790 | 794 | 7,178 |
IOCL, Panipat | 1,319 | 1,164 | 693 | 14,072 |
IOCL, Paradip | 1,436 | 1,297 | 1,271 | 13,242 |
BPCL, Bina | 688 | 616 | 664 | 7,044 |
BPCL, Kochi | 1,523 | 1,422 | 1,204 | 15,322 |
BPCL, Mumbai | 1,349 | 1,279 | 1,307 | 14,087 |
HPCL, Mumbai | 883 | 806 | 680 | 9,044 |
HPCL, Visakh | 1,423 | 1,308 | 1,254 | 13,912 |
CPCL, Manali | 1,002 | 951 | 1,054 | 9,433 |
NRL, Numaligarh | 288 | 249 | 262 | 2,779 |
MRPL, Mangalore | 1,577 | 1,461 | 1,462 | 16,398 |
ONGC, Tatipaka | 7 | 5 | 6 | 63 |
HMEL, Bhatinda | 1,116 | 1,000 | 885 | 11,939 |
RIL, Jamnagar | 3,032 | 2,763 | 2,695 | 32,036 |
RIL, SEZ | 2,578 | 2,556 | 2,192 | 28,325 |
Nayara, Vadinar | 1,744 | 1,584 | 1,622 | 18,736 |
TOTAL | 23,736 | 21,673 | 22,687 | 244,334 |
Source: Ministry of Petroleum and Natural Gas
IOC: Indian Oil Corp IOC.NS
BPCL: Bharat Petroleum Corp Ltd BPCL.NS
HPCL: Hindustan Petroleum Corp Ltd HPCL.NS
CPCL: Chennai Petroleum Corp Ltd CHPC.NS
MRPL: Mangalore Refinery and Petrochemicals Ltd MRPL.NS
Reliance Industries Ltd RELI.NS
Please note that CPCL's CBR refinery is de-commissioned under shutdown due to limitation in meeting required product specifications with the existing configuration.
(Reporting by Rahul Paswan in Bengaluru
Editing by David Goodman)
(([email protected] ; If within U.S. +1 646 223 8780;;))
Hindustan Petroleum Corp Says ACC Approves Appointment Of Vikas Kaushal As CMD Of HPCL
March 13 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
HINDUSTAN PETROLEUM CORP LTD - APPOINTS VIKAS KAUSHAL AS CMD
HINDUSTAN PETROLEUM CORP LTD - ACC APPROVES APPOINTMENT OF VIKAS KAUSHAL AS CMD OF HPCL
Source text: ID:nBSE7272Sm
Further company coverage: HPCL.NS
(([email protected];;))
March 13 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
HINDUSTAN PETROLEUM CORP LTD - APPOINTS VIKAS KAUSHAL AS CMD
HINDUSTAN PETROLEUM CORP LTD - ACC APPROVES APPOINTMENT OF VIKAS KAUSHAL AS CMD OF HPCL
Source text: ID:nBSE7272Sm
Further company coverage: HPCL.NS
(([email protected];;))
Tata Motors Says Co, HPCL Partner To Launch Co-Branded Genuine Diesel Exhaust Fluid
March 5 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
TATA MOTORS - HPCL PARTNERS WITH CO TO LAUNCH CO-BRANDED GENUINE DIESEL EXHAUST FLUID
Further company coverage: HPCL.NS
(([email protected];))
March 5 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
TATA MOTORS - HPCL PARTNERS WITH CO TO LAUNCH CO-BRANDED GENUINE DIESEL EXHAUST FLUID
Further company coverage: HPCL.NS
(([email protected];))
India's BPCL, HPCL and IOC face 'an ugly end' to the fiscal year, says Citi
** Oil marketing companies Bharat Petroleum Corp Ltd BPCL.NS and Hindustan Petroleum Corp Ltd HPCL.NS drop 2.5% each; Indian Oil Corp IOC.NS falls 1%
** BPCL, HPCL and IOC drag oil and gas index .NIFOILGAS 0.7% lower
** The companies could end the fiscal year 2025 "on an ugly note" due to falling refining and marketing margins, reduction of Russian crude benefits and high liquefied petroleum gas (LPG) losses, says Citi
** With domestic LPG prices still subsidised, the three companies are set to collectively lose 400 billion rupees ($4.62 billion) in FY25, the brokerage says
** While the government has assured compensation, it was absent from the February 1 budget, raising investor concerns
** "Without the LPG compensation from the government, earnings would fall sharply and investor confidence could be shaken, Citi says
** BPCL, HPCL and IOC drop 3.2%-9.6% so far this month, compared to 3% fall in benchmark Nifty 50 .NSEI and 4.6% decline in oil and gas index
($1 = 86.6650 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Oil marketing companies Bharat Petroleum Corp Ltd BPCL.NS and Hindustan Petroleum Corp Ltd HPCL.NS drop 2.5% each; Indian Oil Corp IOC.NS falls 1%
** BPCL, HPCL and IOC drag oil and gas index .NIFOILGAS 0.7% lower
** The companies could end the fiscal year 2025 "on an ugly note" due to falling refining and marketing margins, reduction of Russian crude benefits and high liquefied petroleum gas (LPG) losses, says Citi
** With domestic LPG prices still subsidised, the three companies are set to collectively lose 400 billion rupees ($4.62 billion) in FY25, the brokerage says
** While the government has assured compensation, it was absent from the February 1 budget, raising investor concerns
** "Without the LPG compensation from the government, earnings would fall sharply and investor confidence could be shaken, Citi says
** BPCL, HPCL and IOC drop 3.2%-9.6% so far this month, compared to 3% fall in benchmark Nifty 50 .NSEI and 4.6% decline in oil and gas index
($1 = 86.6650 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
India's HPCL signs agreement to source LNG for NTPC
By Nidhi Verma
NEW DELHI, Feb 12 (Reuters) - India's Hindustan Petroleum Corp (HPCL) HPCL.NS has signed an initial pact for sourcing gas for utility company NTPC Ltd NTPC.NS, HPCL Chairman Rajneesh Narang said on Wednesday.
The two companies will explore collaboration for liquefied natural gas (LNG) sourcing as India's gas-based power generation rises during summers, he said.
"We have to work the modalities for a firm contract," Narang told Reuters.
HPCL owns a 5 million tons per year LNG import terminal at Chhara in western India.
Under the pact, NTPC will either book capacities at the terminal or hire LNG tankers there, HPCL chairman said.
The companies would also explore joint sourcing of LNG, he said.
NTPC produces a quarter of India's electricity generation and has the potential to consume 6.9 million tons of gas per year, the official said.
(Reporting by Nidhi Verma in New Delhi; Editing by Mrigank Dhaniwala)
(([email protected];))
By Nidhi Verma
NEW DELHI, Feb 12 (Reuters) - India's Hindustan Petroleum Corp (HPCL) HPCL.NS has signed an initial pact for sourcing gas for utility company NTPC Ltd NTPC.NS, HPCL Chairman Rajneesh Narang said on Wednesday.
The two companies will explore collaboration for liquefied natural gas (LNG) sourcing as India's gas-based power generation rises during summers, he said.
"We have to work the modalities for a firm contract," Narang told Reuters.
HPCL owns a 5 million tons per year LNG import terminal at Chhara in western India.
Under the pact, NTPC will either book capacities at the terminal or hire LNG tankers there, HPCL chairman said.
The companies would also explore joint sourcing of LNG, he said.
NTPC produces a quarter of India's electricity generation and has the potential to consume 6.9 million tons of gas per year, the official said.
(Reporting by Nidhi Verma in New Delhi; Editing by Mrigank Dhaniwala)
(([email protected];))
India's HPCL plans to raise Vizag oil refinery capacity by as much as 20%
By Nidhi Verma and Sethuraman N R
NEW DELHI, Feb 11 (Reuters) - State-run Hindustan Petroleum (HPCL) HPCL.NS 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)
(Reporting by Nidhi Verma; Editing by Florence Tan and Jamie Freed)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
By Nidhi Verma and Sethuraman N R
NEW DELHI, Feb 11 (Reuters) - State-run Hindustan Petroleum (HPCL) HPCL.NS 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)
(Reporting by Nidhi Verma; Editing by Florence Tan and Jamie Freed)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
Delhivery And HPCL Partners For Pan-India Lubricant Distribution
Jan 27 (Reuters) - Delhivery Ltd DELH.NS:
DELHIVERY - HPCL PARTNERS WITH DELHIVERY FOR PAN-INDIA LUBRICANT DISTRIBUTION
Source text: ID:nnAPN2L1SVU
Further company coverage: DELH.NS
(([email protected];))
Jan 27 (Reuters) - Delhivery Ltd DELH.NS:
DELHIVERY - HPCL PARTNERS WITH DELHIVERY FOR PAN-INDIA LUBRICANT DISTRIBUTION
Source text: ID:nnAPN2L1SVU
Further company coverage: DELH.NS
(([email protected];))
HPCL Exec: Premature To Say That Russia Crude Will Not Come To Market
Jan 24 (Reuters) - HINDUSTAN PETROLEUM CORP EXEC HPCL.NS:
HPCL EXEC: TO START CRUDE UNIT AT RAJASTHAN REFINERY BY END-MARCH
PREMATURE TO SAY THAT RUSSIA CRUDE WILL NOT COME TO MARKET
IN DISCUSSION FOR LONG TERM LNG CONTRACT FOR CHHARA LNG TERMINAL
TO START CRUDE UNIT AT RAJASTHAN REFINERY BY END-MARCH
TO SHORTLY START COMMERCIAL OPS AT LNG TERMINAL IN WEST INDIA
TO END FUEL OIL EXPORTS FROM MUMBAI REFINERY
(([email protected];))
Jan 24 (Reuters) - HINDUSTAN PETROLEUM CORP EXEC HPCL.NS:
HPCL EXEC: TO START CRUDE UNIT AT RAJASTHAN REFINERY BY END-MARCH
PREMATURE TO SAY THAT RUSSIA CRUDE WILL NOT COME TO MARKET
IN DISCUSSION FOR LONG TERM LNG CONTRACT FOR CHHARA LNG TERMINAL
TO START CRUDE UNIT AT RAJASTHAN REFINERY BY END-MARCH
TO SHORTLY START COMMERCIAL OPS AT LNG TERMINAL IN WEST INDIA
TO END FUEL OIL EXPORTS FROM MUMBAI REFINERY
(([email protected];))
Hindustan Petroleum Corp Q3 Net Profit 30.23 Bln Rupees
Jan 23 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
Q3 NET PROFIT 30.23 BILLION RUPEES; IBES EST. 31.34 BILLION RUPEES
Q3 SALE OF PRODUCTS 1.18 TRLN RUPEES
AVERAGE GRM FOR APRIL-DEC AT $4.73 PER BBL
Source text: [ID:]
Further company coverage: HPCL.NS
(([email protected];;))
Jan 23 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:
Q3 NET PROFIT 30.23 BILLION RUPEES; IBES EST. 31.34 BILLION RUPEES
Q3 SALE OF PRODUCTS 1.18 TRLN RUPEES
AVERAGE GRM FOR APRIL-DEC AT $4.73 PER BBL
Source text: [ID:]
Further company coverage: HPCL.NS
(([email protected];;))
Upcoming Events:
Dividend
Events:
Dividend
Bonus
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Dividend
Bonus
Dividend
Dividend
Dividend
Bonus
Dividend
Dividend
Dividend
Dividend
Dividend
More Mid Cap Ideas
See similar 'Mid' cap companies with recent activity
Promoter Buying
Companies where the promoters are bullish
Capex
Companies investing on expansion
Superstar Investor
Companies where well known investors have invested
Popular questions
-
Business
-
Financials
-
Share Price
-
Shareholdings
What does HPCL do?
Hindustan Petroleum Corporation Limited, a Maharatna CPSE, specializes in refining crude oil and marketing petroleum products, aviation fuels, LPG, and lubes. With over 50 years of experience in providing aviation refueling services in India.
Who are the competitors of HPCL?
HPCL major competitors are BPCL, MRPL, Chennai Petrol. Corp, Indian Oil Corp., Reliance Industries. Market Cap of HPCL is ₹85,602 Crs. While the median market cap of its peers are ₹1,36,683 Crs.
Is HPCL financially stable compared to its competitors?
HPCL seems to be less financially stable compared to its competitors. Altman Z score of HPCL is 2.84 and is ranked 4 out of its 6 competitors.
Does HPCL pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. HPCL latest dividend payout ratio is 33.17% and 3yr average dividend payout ratio is 30.54%
How has HPCL allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Inventory
How strong is HPCL balance sheet?
Balance sheet of HPCL is moderately strong, But short term working capital might become an issue for this company.
Is the profitablity of HPCL improving?
The profit is oscillating. The profit of HPCL is ₹6,736 Crs for Mar 2025, ₹16,015 Crs for Mar 2024 and -₹6,980.23 Crs for Mar 2023
Is the debt of HPCL increasing or decreasing?
Yes, The net debt of HPCL is increasing. Latest net debt of HPCL is ₹65,930 Crs as of Mar-25. This is greater than Mar-24 when it was ₹61,874 Crs.
Is HPCL stock expensive?
Yes, HPCL is expensive. Latest PE of HPCL is 12.71, while 3 year average PE is 5.4. Also latest EV/EBITDA of HPCL is 9.17 while 3yr average is 5.27.
Has the share price of HPCL grown faster than its competition?
HPCL has given better returns compared to its competitors. HPCL has grown at ~10.81% over the last 10yrs while peers have grown at a median rate of 7.19%
Is the promoter bullish about HPCL?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in HPCL is 54.9% and last quarter promoter holding is 54.9%.
Are mutual funds buying/selling HPCL?
The mutual fund holding of HPCL is increasing. The current mutual fund holding in HPCL is 18.74% while previous quarter holding is 18.69%.