Hindustan Petroleum Corporation Ltd (HPCL) on June 19th announced that the company has bagged a major long-term contract from ONGC Petro additions Ltd (OPaL) for supply of Natural Gas. Under the contract HPCL will be supplying natural gas to OPaL’s Mega Petrochemical Complex at Dahej.
HPCL will be supplying 13.53 Trillion Btu of Natural Gas to OPaL during the period October 23 to May 26 under this contract.
OPaL is a joint venture of ONGC, GAIL and GSPC and it 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.
Besides, HPCL has also forged a partnership 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.
HPCL in its release says that this strategic partnership aims at providing a world-class customer experiences at affordable prices and offer a comprehensive range of solutions under one roof, including lube change, light repairs, periodic maintenance, battery replacements, tire services, air conditioning repairs and eco carwash facilities.
Petromin is a leading mobility solutions player in automotive technology with more than 700 multi-brand quick-service outlets across GCC.
Shares of HPCL were trading 0.27 percent lower at Rs 272.65 per share at 2:00 PM on NSE.
(Edited by : Vahishta Unwalla)
