HPCL bags long-term contract from OPaL for supply of natural gas
Jun 19, 2023
New Delhi [India], June 19 : Hindustan Petroleum Corporation Ltd (HPCL), which is enhancing its footprints in the natural gas market, on Monday said it has secured a major long-term contract from ONGC Petro additions Ltd (OPaL) for the supply of natural gas.
HPCL will supply natural gas to ONGC Petro additions Ltd's petrochemical complex at Dahej in Gujarat.
OPaL, a joint venture of ONGC, GAIL and GSPC, requires natural gas for operating its own captive power plant for supporting its power and steam requirements.
In a stock filing, HPCL said it 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," the filing said.
HPCL has ambitions in the natural gas business and is focused to build a strong foothold in the petrochemical and fertilizer sectors.
Further, HPCL informed stock it has entered into an agreement with Automin Car Services Pvt Ltd, a subsidiary of Petromin Corporation, Saudi Arabia 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 the GCC region.
"This strategic partnership aims to provide 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," it added.
The co-branded HP-Petromin Express vehicle service centres will be located in HPCL's retail outlets in metros and other major cities across India.
