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India's ONGC to buy majority stake in refiner HPCL for $5.78 bln

5h reuters
NEW DELHI (Reuters) - India’s biggest explorer Oil and Natural Gas Corp (ONGC) has agreed to buy the government’s majority stake in state-refiner Hindustan Petroleum Corp for 369 billion rupees ($5.78 billion), ONGC said on Saturday. (1-0)

ONGC deal will benefit in terms of crude procurement, says HPCL CMD

5h business-standard
The state-run Hindustan Petroleum Corporation (HPCL) is set to usher in a new era with Oil and Natural Gas Corporation ready to grab a majority stake in the company by January end. On the backdrop of that, HPCL chairman and managing director M K Surana talks to Shine Jacob about the deal and likely MRPL acquisition. What does this mean to HPCL? The first thing is that HPCL has a big marketing set up in place. (1-0)

ONGC to buy majority stake in refiner HPCL for $5.78 billion

5h in.reuters
NEW DELHI (Reuters) - India’s biggest explorer Oil and Natural Gas Corp (ONGC) has agreed to buy the government’s majority stake in state-refiner Hindustan Petroleum Corp for 369 billion rupees ($5.78 billion), ONGC said on Saturday. (1-0)

ONGC to acquire govt's entire 51.1% stake in HPCL for Rs 369.15 bn

5h business-standard
The state-run Oil and Natural Gas Corporation (ONGC) will acquire 51.1 per cent government stake in Hindustan Petroleum Corporation (HPCL) at a cost of Rs 369.15 billion. The deal is expected to be completed by the end of this month. ONGC will pay the government Rs 473.97 per share, at a premium of over 10 per cent of the 60-days weighted average of HPCL's scrip. The deal will also help the government to surpass the disinvestment target of Rs 725 billion for 2017-18. (1-0)

ONGC to pay Rs 36,915 crore for 51.11% stake in HPCL; Govt revises divestment target

5h moneycontrol
State-owned Oil and Natural Gas Corporation (ONGC) will pay Rs 36,915 crore for a 51.11 percent stake in Hindustan Petroleum Corporation (HPCL), the former said in a filing to stock exchanges. (1-0)

ONGC to buy government stake in HPCL for Rs36,915 crore

6h livemint
Mumbai: State-owned Oil and Natural Gas Corp. Ltd (ONGC) on Saturday said it will acquire the government’s entire 51.11% stake in Hindustan Petroleum Corp. Ltd (HPCL) for Rs36,915 crore. (1-0)

Boost for OMCs: GST rate on transportation of petroleum, crude its products cut

2018-01-19 moneycontrol
The good and services tax (GST) rate on transportation of petroleum, crude and its products has been cut to 12 percent from 18 percent earlier. In an interview to CNBC-TV18, MK Surana, CMD of Hindustan Petroleum Corporation (HPCL) spoke at length about the same. (1-0)

Govt is said to mull selling HPCL at not more than 9% premium

2018-01-17 livemint
New Delhi/Mumbai: India is considering a plan to sell its ownership in Hindustan Petroleum Corp. to the nation’s biggest explorer at a premium of not more than 9% of the company’s six-month average share price as it seeks to reach a final agreement as early as 31 January, according to people with knowledge of the matter. (7-0)

Target to complete Barmer refinery by 2020-2023: HPCL

2018-01-17 moneycontrol
Prime Minister Narendra Modi inaugurated Hindustan Petroleum Corporation Ltd’s (HPCL) Barmer Refinery yesterday and CNBC-TV18’s Anshu Sharma caught up with the CMD of HPCL MK Surana and asked him about the size and investment of this new plant. (1-0)

HPCL is the loser in Rajasthan refinery complex tug-of-war

2018-01-15 thehindubusinessline
It was in 2013 when the foundation stone was laid for Hindustan Petroleum Corporation’s Rajasthan refinery-cum-petrochemical complex. Tuesday will see an encore happening with Prime Minister, Narendra Modi, doing the honours in a ‘commencement of work’ function. (4-0)

Petrol, diesel may get costlier in Delhi; higher rental to affect 400 pumps

2018-01-14 business-standard
Delhiites might soon have to pay more for motor fuel, a sequel to an earlier decision by the Delhi Development Authority (DDA), the land allotment agency, putting outlets retailing these in the same commercial category as malls. Sources say the resulting higher rentals might affect at least 400 outlets in DDA areas. The decision to raise land rentals with effect from 2007 has been contested by Hindustan Petroleum Corporation (HPC), Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPC) in the Supreme Court. (7-0)

BP, Shell, Goldman express interest in filling Indian oil stockpile - govt report

2018-01-12 reuters
* BP, Royal Dutch Shell, Goldman Sachs, Trafigura, Mangalore Refinery and Petrochemicals and Hindustan Petroleum Corp. have expressed interest in filling India’s strategic oil reserve at Padur in the southern Karnataka state - government report (22-0)

IOC buys third shipload of US crude oil

2018-01-11 moneycontrol
Indian Oil Corporation (IOC) today bought its third shipload or cargo of US crude oil as it looks at cheaper alternatives that have emerged due to the global supply glut. (4-0)

State-owned oil cos to approach banks to halve card payment fee: Report

2018-01-08 moneycontrol
Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) will approach banks to reduce card transaction fees for petrol and diesel purchases by half, sources told Mint. (4-0)

ONGC rises 3% after Brent crude hits fresh 2.5-year high, HPCL deal valuation

2018-01-04 moneycontrol
Oil and Natural Gas Corporation shares rallied more than 3 percent following further spike in crude oil prices and after a media report indicated that ONGC may pay Rs 45,000 crore for HPCL stake. (3-0)