HINDPETRO

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

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May 6 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:

• HINDUSTAN PETROLEUM CORP Q4 NET PROFIT 33.55 BILLION RUPEES

• HPCL Q4 SALE OF PRODUCTS 1.18 TRLN RUPEES

• HPCL AVERAGE GRM FOR APRIL-MARCH AT $5.74 PER BBL

• HPCL - DIVIDEND 10.5 RUPEES PER SHARE

Further company coverage: HPCL.NS

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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];))

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:

*Size includes base plus greenshoe for some issues

($1 = 85.3130 Indian rupees)

(Reporting by Khushi Malhotra; Editing by Mrigank Dhaniwala)

(([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];))

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];;))

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];;))

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):

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;;))

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 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];))

** 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;))

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 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]))

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 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 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];;))

Corrects to add dropped word in first paragraph

By Nidhi Verma

NEW DELHI, Jan 20 (Reuters) - Indian state refiners have asked Abu Dhabi National Oil Co (ADNOC) to offer pricing of its crude on a delivered basis to manage costs, three refining sources said, after fresh U.S. sanctions disrupted supplies and caused freight rates to spike.

Refiners in India, which imports over 80% of its oil, have been hit hard by a spike in global oil prices and shipping rates after Washington recently imposed sweeping new sanctions targeting Russian insurers, tankers and oil producers.

The world's No. 3 oil importer and consumer became the top buyer of discounted Russian seaborne oil after the European Union shunned purchases and imposed sanctions on Moscow following its invasion of Ukraine in 2022.

Russian oil accounted for more than a third of India's imports last year, but U.S. sanctions are tightening supply, pushing the buyer back to traditional Middle East sources.

While most Middle East crude producers sell oil on a free-on-board (FOB) basis via long-term contracts to Asian buyers, Russian oil traders have been supplying crude to India on a delivered at port (DAP) basis that includes insurance, shipping and other services borne by the seller.

State-owned Indian refiners including Indian Oil Corp IOC.NS, Hindustan Petroleum Corp (HPCL) HPCL.NS and Bharat Petroleum Corp BPCL.NS have asked ADNOC for DAP price quotes, the sources said.

"We want our term supplier to give both FOB and DAP quotes," one of the sources said.

"There is a possibility we may get better pricing in DAP, especially when freight rates are going to go up."

It was not immediately clear if ADNOC would agree to such terms.

The Indian state refiners and ADNOC did not immediately respond to Reuters' emails seeking comments.

ADNOC sets its monthly official selling prices (OSPs) on an FOB basis and has rarely, if ever, sold term supplies to Asian buyers on a delivered basis, three traders familiar with long-term Middle East oil deals said.

In addition to their request to ADNOC, the refiners, which own around 60% of India's 5.14 million barrels per day (bpd) crude processing capacity, planned to put in similar requests with other Middle East suppliers including Saudi Aramco 2222.SE, the sources said.

Under DAP terms, Indian companies would be liable for such cargoes only after they are discharged.

While freight rates have mainly risen for Russian oil, that has a ripple effect on the broader markets.

"In our spot tender also we give bidders an option to give quotes for both DAP and FOB cargoes. So now we want to extend that option to our term purchases as well," a second of the sources said.

"After our due diligence we can decide whether to go for DAP or FOB."

Indian state refiners negotiate their term contracts individually. Their combined purchase from ADNOC could be higher in the next fiscal year from April 1 than this year as HPCL operates its upgraded Vizag refinery at full capacity and starts up its new 180,000 bpd Barmer refinery in the desert state of Rajasthan this quarter, the sources said.

(Reporting by Nidhi Verma; Additional reporting by Saba Yousef in Dubai; Editing by Florence Tan and Susan Fenton)

(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))

Jan 13 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:

• HPCL - COMMISSIONING OF LNG REGASIFICATION TERMINAL SET UP BY WHOLLY OWNED SUBSIDIARY HPCL LNG

Source text: ID:nBSE9Wldbz

Further company coverage: HPCL.NS

(([email protected];))

By Nidhi Verma

NEW DELHI, Dec 24 (Reuters) - Indian state refiners are considering tapping the Middle East crude market as spot supply from their top supplier Russia have fallen, three refining sources said, in a move that could support prices for high-sulphur oil.

The three large state refiners- Indian Oil Corp IOC.NS, Bharat Petroleum Corp BPCL.NS and Hindustan Petroleum HPCL.NS- are short of 8-10 million barrels of Russian oil for January loading, the sources told Reuters.

The refiners fear continued problems in securing Russian oil in the spot market could continue in coming months as Moscow's own demand is rising and it has to meet commitments under the OPEC pact.

However, they added that they can draw from their inventories to meet crude processing needs in March.

Two of the sources said their company may lift more crude from Middle East suppliers under optional volumes in term contracts or to float a spot tender for high-sulphur oil.

IOC, the country's top refiner, previously floated spot tenders to buy sour grades in March 2022.

The companies did not immediately respond to requests for comment.

India became the largest importer of Russian crude after the European Union, previously the top buyer, imposed sanctions on Russian oil imports in response to the 2022 invasion of Ukraine. Russian oil accounts for more than a third of India's energy imports.

Russia's spot crude exports have fallen since November as its refineries resumed operations after the maintenance season and poor weather disrupted shipping activities, traders said.

"We have to explore alternative grades as Russia's own demand is rising and it has to meet its commitments under OPEC," said another of the three sources.

Russia, an ally of Organization of the Petroleum Exporting Countries, promised to make extra cuts to its oil output from the end of 2024 to compensate for overproduction earlier.

Also, most supplies from Russia's state oil firm Rosneft ROSN.MM are tied up in a deal with Indian private refiner Reliance Industries RELI.NS, Reuters reported earlier this month.

The new deal accounts for roughly half of Rosneft's seaborne oil exports from Russian ports, leaving little supply available for spot sales, sources told Reuters earlier this month.

India has no sanctions on Russian oil, so refiners there have cashed in on supplies made cheaper than rival grades by the penalties by at least $3 to $4 per barrel.

Sources said there are traders in the market that are willing to supply Russian oil for payments in Chinese Yuan but noted that state refiners stopped paying for Russian oil in the Chinese currency after advice from the government last year.

"It is not that alternatives to Russian oil are not available in the market but our economics will suffer," the first source said.

(Reporting by Nidhi Verma; Editing by Florence Tan and Philippa Fletcher)

(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))

Adds more details throughout

Dec 23 (Reuters) - Indian refiners' crude processing in November fell 0.1% year-on-year to 5.29 million barrels per day (21.64 million metric tons), provisional government data showed on Monday.

Total crude oil production fell about 2.1% to around 574,000 barrels per day (2.35 million tonnes) year-on-year, the data showed.

India, which is the world's third-biggest oil importer and consumer, saw demand rising by 9.3% year-on-year to 20.43 million metric tons in November, its highest level since May, based on oil ministry data earlier this month, driven by strong economic and travel activity.

India's crude oil imports rose 2.6% year-on-year to 19.07 million metric tons in November, data from the Petroleum Planning and Analysis Cell's website showed. On a monthly basis, crude oil imports were down 3.2% from 19.71 million metric tons in October.

In November, the Middle East's share of India's crude oil imports oil hit a 9-month high, while Russia accounted for its smallest share in three quarters, ship tracking data obtained from sources showed.

Some refiners reduced intake of Russian oil due to maintenance turnarounds at their plants and continued to lift committed volumes under annual contracts with Middle Eastern producers, an India refining official said.

REFINERY PRODUCTION IN TERMS OF CRUDE THROUGHPUT (in 1,000 tons):

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, additional reporting by Sherin Elizabeth Varghese in Bengaluru.
Editing by Tomasz Janowski and Jane Merriman)

(([email protected];))

Dec 19 (Reuters) -

• INDIA OIL MINISTRY: HD KOREA SHIPBUILDING & OFFSHORE ENGINEERING EXPRESSED INTEREST IN JOINING INDIAN OIL & GAS COS FOR SHIPBUILDING

Further company coverage: 009540.KS

(([email protected];))

Dec 16 (Reuters) - Hindustan Petroleum Corp Ltd HPCL.NS:

• HINDUSTAN PETROLEUM CORP - APPROVES LUBE MODERNIZATION AND BOTTOMS UPGRADATION PROJECT

• HINDUSTAN PETROLEUM CORP - PROJECT ESTIMATED COST IS 46.79 BILLION RUPEES

• HINDUSTAN PETROLEUM CORP - PROJECT TO INCREASE LOBS PRODUCTION FROM 475 KTPA TO 764 KTPA

Source text: ID:nBSE4kWGyw

Further company coverage: HPCL.NS

(([email protected];))

By Nidhi Verma

NEW DELHI/MOSCOW, Dec 5 (Reuters) - Three trading houses have become dominant sellers of Russian oil to India as many smaller players dropped out of the business due to high funding costs in Russia and lack of access to Western funds, according to data and six trading sources.

The change reverses a trend of dozens of little-known trading firms flooding the market for oil trade between Russia and key buyers China, India and Turkey, lured by prospects of higher fees to help Russian producers skirt Western sanctions.

India has become the biggest buyer of Russia's seaborne crude after Moscow's invasion of Ukraine in 2022, with purchases near record highs at 1.8 million to 2.0 million barrels per day, or more than a third of its crude imports.

The recent concentration of trade has allowed Russia to sell record oil volumes to India at the smallest discounts since 2022, though its oil remains cheaper than rival U.S. and Middle Eastern grades, according to six traders and data.

The dominance of a few players makes it easier to track them and increases the trade's exposure to further sanctions should the West ratchet up pressure on the Kremlin, traders said.

Washington and Brussels have imposed various sanctions on traders, banks and shipowners to cut the Kremlin's income, but new firms quickly replaced the sanctioned entities.

That changed in recent months.

Most Russian crude is now sold by firms such as the Dubai-based trading arm of Russian oil firm Lukoil, Litasco Middle East, and Dubai-based Hinera Trading and Black Pearl Energy Trading, according to customs data and shipping data seen by Reuters. The development has not previously been reported.

Lukoil did not respond to a request for comment. Reuters could not trace contact details for Hinera and Black Pearl Energy. The two firms ship large oil volumes sourced by Russia's largest oil producer Rosneft to India, trade sources say.

Rosneft did not respond to a request for comment.

Last year, Indian companies were getting Russian oil offers from at least 10 middlemen a month, three of the six sources said. All six sought anonymity as they were not authorised to speak with media.

Some of the sources work for Indian refiners and some for traders of Russian oil.

Traders such as Dubai-based Starex Trading and Pontus Trading, which were large suppliers of Russian oil to India last year, are no longer offering cargoes, according to customs records drawn from a commercial trade data provider and the three trading sources.

Starex Trading and Pontus did not respond to requests for comment.

Indian state refiners such as Indian Oil Corp IOC.NS rely on spot purchases, unlike private refiners Reliance Industries RELI.NS and Nayara Energy, part-owned by Rosneft, which have annual deals to import Russian oil, the sources said.

HIGH RATES

Russian oil middlemen depend on funding from Russian banks amid Western sanctions and had to abandon the trade after Russia raised interest rates to 21% in late October, the highest since 2003, two of the six traders said.

As Russia's oil flows to India became more established, its producers began to seek pre-payments from middlemen of up to two weeks before a cargo is loaded, the two sources said.

In 2022 and 2023, by comparison, payments were made weeks after loading as Russian firms were desperate to place barrels in Asia after sanctions closed off European Union markets, the two sources said.

The shrinking number of middlemen gave Russian producers more pricing power, the six traders said.

Discounts on benchmark Russian oil Urals shrank in recent months to $3 per barrel to $4 per barrel on a delivered ex-ship (DES) basis in Indian ports versus $8 per barrel last year, according to Reuters calculations based on market data.

Russian barrels still remain attractive for Indian buyers as they are $3 per barrel to $3.5 per barrel cheaper than rival grades from the United States and the Middle East, the six traders said.

Despite stronger prices, volumes of Russian seaborne oil to India remain near record highs, exceeding shipments to China.

While the concentration of trade makes it potentially easier for the West to reduce Russian oil sales with additional sanctions, Russian firms could resort again to the strategy of using multiple middlemen if needed, one of the traders said.

(Reporting by Nidhi Verma in New Delhi and Reuters reporters in Moscow; Additional reporting by Gleb Stolyarov; Editing by Florence Tan, Tony Munroe and Clarence Fernandez)

(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))

Dec 3 (Reuters) - Agarwal Industrial Corporation Ltd AGWL.NS:

• AGARWAL INDUSTRIAL CORPORATION - ENTERED INTO SUPPLY AGREEMENT FOR BULK BITUMEN -VG30 & VG40

• AGARWAL INDUSTRIAL CORPORATION - ENTERED INTO SUPPLY AGREEMENT WITH HINDUSTAN PETROLEUM CORP

• AGARWAL INDUSTRIAL CORPORATION - TOTAL DELIVERABLE VALUE AT ABOUT 2.55 BILLION RUPEES

Source text: ID:nBSE5tlBfF

Further company coverage: AGWL.NS

(([email protected];))

** GP Petroleums GPPE.NS rises ~7.3% to 65.51 rupees

** Lubricants maker enters into supply agreement for bulk bitumen VG30 with state-owned oil marketing co Hindustan Petroleum HPCL.NS

** Bitumen VG30 is a binder used in insulation, water proofing, pipe coating and road construction

** Under deal, GPPE will provide about 50,000 metric tonnes of the binder at various locations as required by HPCL

** Total deliverable value of the agreement is 2.23 bln rupees ($26.3 mln)

** Agreement valid for a year and may be extended for an additional year at the discretion of HPCL

** GPPE up ~20% YTD

($1 = 84.6725 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Nov 29 (Reuters) - GP Petroleums Ltd GPPE.NS:

• HAS ENTERED INTO SUPPLY AGREEMENT FOR BULK BITUMEN -VG30

• TOTAL DELIVERABLE VALUE IS 2.23 BILLION RUPEES

Source text: ID:nNSE5v1cGX

Further company coverage: GPPE.NS

(([email protected];;))

Adds details and comments

Nov 22 (Reuters) - Indian refiners' throughput in October rose over 3% year-on-year to 5.04 million barrels per day (21.3 million metric tons), provisional government data showed on Friday.

"As exports didn’t rise m/m (month-on-month) the refinery increase is the result of higher domestic demand, which still benefits from solid economic growth in India," said UBS analyst Giovanni Staunovo.

India's crude oil imports rose about 3.9% in October to 19.52 million metric tons on a monthly basis, while total product exports plunged over 22%, government data showed.

India, the world's third-biggest oil importer and consumer, saw demand rising by 2.9% year-on-year in October to 20.04 million tons, oil ministry data showed earlier this month, driven by strong economic activity.

Meanwhile, India's monthly intake of Russian oil increased by 3.3% in October to a three-month high of 1.95 million barrels per day (bpd), accounting for about two-fifths of overall imports, data provided by trade sources show.

The country's state-run Hindustan Petroleum Corp Ltd HPCL.NS is looking at raising its annual crude import deal with Iraq to 100,000 barrels per day (bpd) in 2025, up about 43% from this year, a company source said.

REFINERY PRODUCTION IN TERMS OF CRUDE THROUGHPUT (in 1,000 tons):

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 Sherin Elizabeth Varghese and Anjana Anil in Bengaluru. Editing by Mark Potter)

(([email protected];))

By Sethuraman N R

Nov 12 (Reuters) - India, the world's No.3 oil importer and consumer, is expected to rely on fossil fuels until at least 2040 and is positioning itself as a refining hub, Oil Minister Hardeep Singh Puri told Reuters on Tuesday.

While global refining centers are downsizing as energy transition progresses at an unpredictable pace, India's rising daily crude utilization means it will rely on fossil fuels until at least 2040, Puri said at the sidelines of a refining conference in Bengaluru.

"Our existing refineries will increase in terms of capacity and they will also become regional hubs in terms of providing to other countries," Puri said.

India, the world's third-largest emitter of greenhouse gases, has pledged to achieve a net zero carbon emission target by 2070. It has a target of 500 gigawatts (GW) of renewable energy by 2030.

Puri reiterated that India is looking to scale its refining capacity by 81% to as much as 450 metric tonne per annum (mtpa), from about 249 mtpa, or about 5 million barrels per day (bpd), currently. He did not provide a timeline.

The minister said there are "robust discussions" among state-owned and private refiners to scale beyond 310 mtpa, which might be achieved even before the targeted 2028.

Smaller refineries will no longer be economically viable, Puri said.

Bharat Petroleum Corp Ltd (BPCL) BPCL.NS is exploring building a new 180,000-300,000 bpd oil refinery in southern Andhra Pradesh state or northern Uttar Pradesh state.

Meanwhile, Hindustan Petroleum Corp Ltd (HPCL) HPCL.NS is expected to start operations at its 180,000 bpd Barmer refinery in the desert state of Rajasthan late this year or early next year.

(Reporting by Sethuraman NR and writing by Yagnoseni Das in Bengaluru; Editing by Savio D'Souza)

(([email protected];))

NEW DELHI, Nov 5 (Reuters) - India's state-run Hindustan Petroleum Corp Ltd HPCL.NS is looking at raising its annual crude import deal with Iraq to 100,000 barrels per day (bpd) in 2025, a growth of about 43% from this year, a company source said.

HPCL has an annual deal to buy 70,000 bpd Iraqi oil in 2024, the source added.

The company's crude oil imports would rise next year as it commissions some residue upgradation units at its 274,000 bpd Vizag refinery in Southern India. The refinery is being expanded to 300,000 bpd.

HPCL also operates the 190,000 bpd Mumbai refinery in western India.

It is also expected to start operations at its 180,000 bpd Barmer refinery in India's desert state of Rajasthan by end-December or early next year.

HPCL did not immediately respond to a Reuters request for comments.

(Reporting by Nidhi Verma; Editing by Muralikumar Anantharaman)

(([email protected]; Reuters Messaging: [email protected]))

Oct 29 (Reuters) - Indian refiners' throughput in September rose over 4% year-on-year to 5.17 million barrels per day (21.17 million metric tons), provisional government data showed on Tuesday.

REFINERY PRODUCTION IN TERMS OF CRUDE THROUGHPUT (in 1,000 tons):

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 Ashitha Shivaprasad in Bengaluru)

(([email protected];))