Tuesday, April 1, 2014

PSU major HPCL to export gasoline due to maintenance

HPCL CMD Nishi Vasudeva
IN A rare move, public sector oil major Hindustan Petroleum Corp Ltd (HPCL), who has got Nishi Vasudeva, as the first ever woman CMD of any Navaratna PSU recently,  has offered gasoline for export as it will shut gasoline production...
facilities at its Vizag refinery for about a month starting April. Media report quoting a company official said on Monday.
The report said that the refiner will be shutting a CCR (continuous catalytic reformer), FCC NHT (fluidised catalytic cracker cum naphtha hydrotreater) and an isomerisation unit for planned maintenance of 30 to 35 days from April 10.
The shutdown of the gasoline making units would result in the production of high sulphur gasoline that cannot be sold in India.
The units at the plant produce about 120,000 to 130,000 tonnes of gasoline a month.
The Navaratna PSU will sell the 25,000- to 30,000-tonne 90-octane grade gasoline for April 26-28 loading from Vizag through a tender valid until April 1, a trade source added.
HPCL is a Fortune 500 and Forbes 2000 company, with an annual turnover of Rs 1,90,048 crore. HPCL holds an equity stake of 16.95 percent in Mangalore Refinery & Petrochemicals Limited, a state-of-the-art refinery at Mangalore with a capacity of 15 MMTPA. In addition, HPCL has constructed a 9 MMTPA refinery at Bathinda, in Punjab, with Mittal Energy Investments Pte Ltd.

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