On the side-lines of the 51st Annual General Meeting of Chennai Petroleum, CNBC-TV18’s Jude Sannith caught up with Gautam Roy, MD and spoke about the revamp and the expansion plans of the company.
At a time when there is proposal for consolidation of oil companies from the Finance Minister, oil major IOC has plans to merge its subsidiary Chennai Petroleum Corporation Ltd with the the company.
Gautam Roy, MD, of Chennai Petroleum Corporation says the company‘s net-worth improved to Rs 2500 crore and debt stands at Rs 4700 crore.
CPCL's gross refining margin (GRM) for Q1 stood at USD 4.30 per barrel. Basu hopes to maintain it at current level if crude prices continue to remain stable.