HPCL Bags Major Long-Term Contract from OPaL for Supply of Natural Gas

Hindustan Petroleum Corporation Ltd (HPCL) is enhancing its footprints in the Natural Gas market and 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. 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.

HPCL has ambitious plans for Natural Gas business and is focused to build a strong foothold in Petrochemical, Fertilizer and other sectors.

Shares of Hindustan Petroleum Corporation Limited was last trading in BSE at Rs. 273.85 as compared to the previous close of Rs. 275.65. The total number of shares traded during the day was 58252 in over 1429 trades.

The stock hit an intraday high of Rs. 277.20 and intraday low of 272.90. The net turnover during the day was Rs. 16029870.00.

Source : Equity Bulls

Keywords

HindustanPetroleumCorporation INE094A01015 HPCL NaturalGas ONGCPetroAdditions DahejComplex