• October 21, 2024
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HPCL secures gas supply deal from ONGC Petro Additions, shares trade flat

HPCL secures gas supply deal from ONGC Petro Additions, shares trade flat

HPCL has entered into an agreement with Automin Car Services Pvt Ltd., a subsidiary of Petromin Corporation, Kingdom of Saudi Arabia (KSA).

HPCL will be supplying 13.53 Trillion Btu of Natural Gas to OPaL during the period October 23 to May 26 under this contract.

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Hindustan Petroleum Corporation (HPCL) has secured a major long-term contract from ONGC Petro additions Ltd (OPaL) for supply of natural gas to their mega petrochemical complex at Dahej.

At 1:53pm, Hindustan Petroleum Corporation was quoting at Rs 272.80, down Rs 0.55, or 0.20 percent on the BSE.

OPaL, a joint venture of ONGC, GAIL and GSPC, requires natural gas for operating its own captive power plant (CPP) for supporting its power and steam requirements.

HPCL has won the contract through competitive bidding against a tender floated by OPaL.

HPCL will be supplying 13.53 trillion btu of natural gas to OPaL during the period October 23 to May 26 under this contract.

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Also, HPCL has entered into an agreement with Automin Car Services Pvt Ltd, a subsidiary of Petromin Corporation, Kingdom of Saudi Arabia (KSA) to establish co-branded HP-Petromin Express vehicle service centres across India.

Petromin is a leading mobility solutions player in automotive technology with more than 700 multi-brand quick-service outlets across Gulf Cooperation Council (GCC).

The co-branded HP-Petromin Express vehicle service centres will be located in HPCL’s select retail outlets in metros and other major cities across India.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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