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IndianOil-CPCL Nagapattinam refinery may see further delays due to project reconfiguration

IOCL and CPCL are working on reconfiguring the refinery, an official said, hinting at project completion by 2030–31. The refinery was earlier expected to be completed by 2027 — already two years behind the original schedule.

IOC board clears Rs 31,500-crore Nagapattinam refinery project; expects fuel demand to be normal soon

The new refinery will be a joint venture between Chennai Petroleum Corporation Ltd and IOC.

CPCL elevates R Srikanthan as Director Technical

Prior to taking up the new role, he was serving the company as its Chief General Manager Cauvery Basin Refinery, Chennai Petroleum Corporation said in a BSE filing.

CPCL's Rs 3,110 cr Residue Upgradation Project goes on stream

The city-based company embarked on a value addition at the Manali Refinery near city, for upgradation of residue to high value liquids such as diesel, Naphtha and LPG through delayed coking process at an investment of Rs 3,110 crore.

IOC chief hints at merger with Chennai Petro, no timeline yet

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.

CPCL hopeful of maintaining margins in FY17 if crude is stable

While Chennai Petroleum Corp (CPCL) reported halving of its June quarter net profit on lower refinery margin, the management expects crude throughput to improve in the coming quarters.

Chennai Petroleum up 10%; KR Choksey initiates coverage with buy

CPCL has initiated efforts to reduce working capital requirement by reducing credit period to 10 days (from 16 days) for products sold to IOC and better inventory management initiatives (now 35 days against 52 days earlier).

PM inaugurates Indian Oil's Paradip refinery

The 15 million tons per annum Paradip refinery was built over nearly 16 years. The then Prime Minister Atal Bihari Vajpayee had on May 24, 2000 laid foundation stone of the ninth plant of IOC.

Crude likely to remain in current range: IOC chief

IOC Chairman B Ashok said that considering the current trend and global developments, crude prices are likely to remain in the current range.

IOC to invest Rs 1,000 cr to raise stake in CPCL

Shareholders of CPCL have decided to increase authorised share capital of the company from Rs 400 crore (40 crore shares of Rs 10 each) to Rs 1,400 crore, the company said in a regulatory filing.

Chennai Petroleum Q4 net jumps over seven-fold at Rs 364 cr

The Chennai-based company had reported a net profit of Rs 49.81 crore during the corresponding period of the previous year, CPCL said in a BSE filing.

IOC to invest Rs 8,000cr for Koyali refinery expansion

State-owned Indian Oil Corp (IOC) will invest about Rs 8,000 crore to expand capacity at its Koyali oil refinery in Gujarat to 18 million tonnes per annum by 2016-17.

Weak rupee hit Q1 margins; profits to revive by Q3: CPCL

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.

Buy MRPL, accumulate Chennai Petroleum: PINC Research

PINC Research has come out with its view on refinery sector. The research firm has initiated coverage on pure refining companies, with a 'BUY' rating on Mangalore Refinery and Petrochemicals (MRPL) and an 'accumulate' rating on Chennai Petroleum Corporation (CPCL).