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Two-pronged approach with HPCL to ensure energy security

 Last Update: 2022-09-07
 Source: Internet
 Author: User

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Recently, India's state-owned oil refiner Hindustan Petroleum Corporation (HPCL) announced a series of business plans in the field of oil refining and new energy

Speed up refinery expansion and upgrade

Accelerate the expansion and upgrading of refinery capacity

HPCL said that in the first quarter of this fiscal year (April 2022 to March 2023), the company invested Rs 2,809 crore in upgrading refinery and oil product marketing infrastructure, including equity investments in joint ventures and subsidiaries

Previously, HPCL stated in the announcement: "The company's Mumbai refinery expansion project has been completed and has achieved stable production.

To facilitate uninterrupted supply of LPG to customers in the eastern states of Jharkhand and Bihar, HPCL started operating LPG plants in both states during the quarter

Actively promote energy transition

Actively promote energy transformation Actively promote energy transformation

Earlier in August, HPCL and Honda Motors subsidiary Honda Power Pack Energy India Pvt Ltd launched their first battery swap station in Bangalore, South India

HPCL said: “For a brighter, greener and more sustainable future, internal combustion engine vehicles must make way for environmentally friendly electric vehicles

HPCL is also implementing a number of other energy transition initiatives

For HPCL's dual strategic push, analysts at Platts said that while India's oil demand is far from peaking and oil companies need to secure investments in refining, it also needs to diversify into other forms of energy in order to provide Prepare for the changing energy landscape

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