HPCL bags long-term contract from OPaL the delivery of natural gas

ONGC Petro additions Ltd (OPaL) has awarded Hindustan Petroleum Corporation Ltd (HPCL), which is expanding its presence in the natural gas market, a significant long-term contract for the delivery of natural gas. The Gujarati petrochemical facility in Dahej owned by ONGC Petro additions Ltd would receive natural gas from HPCL. Natural gas is needed by OPaL, a joint venture between ONGC, GAIL, and GSPC, to run its own captive power plant and meet its steam and electricity needs.

HPCL stated that it had defeated an OPaL tender by winning the contract through competitive bidding. According to the filing, "HPCL will supply 13.53 Trillion Btu of Natural Gas to OPaL during the period from October 23 to May 26 under this contract." In addition to focusing on establishing a solid foundation in the petrochemical and fertiliser industries, HPCL has goals in the natural gas industry.

HPCL disclosed to the stock that it has a contract with Automin Car Services Pvt Ltd, a Petromin Corporation affiliate in Saudi Arabia, to set up co-branded HP-Petromin Express vehicle servicing outlets across India. With more than 700 quick-service locations under various brands spread throughout the GCC, Petromin is a leading provider of mobility solutions for the automotive industry.

"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, tyre services, air conditioning repairs and eco carwash facilities," it continued. The co-branded HP-Petromin Express car servicing centres will be situated in HPCL's retail locations in major cities across India, including metropolises.