HPCL partners with Automin, secures long term contact from OPaL

21 Jun 2023 CW Team

Hindustan Petroleum Corporation (HPCL) has formed a partnership with Automin Car Services, a subsidiary of Saudi Arabia's Petromin Corporation, to establish HP-Petromin Express vehicle service centres in India. This collaboration aims to deliver top-notch customer experiences at affordable prices by offering a comprehensive range of solutions in one convenient location. The services provided will include lube changes, light repairs, periodic maintenance, battery replacements, tire services, air conditioning repairs, and eco car wash facilities. In a regulatory filing, the company stated that these co-branded service centres will be situated at select HPCL retail outlets in major cities and metros across India.

Petromin, with its extensive presence, operates over 700 quick-service outlets throughout the Gulf region. Additionally, HPCL has recently entered into an agreement with ONGC Petro additions (OPaL) to supply natural gas to their petrochemical complex in Dahej, Gujarat. Under this contract, HPCL will provide OPaL with 13.53 trillion British thermal units (btu) of natural gas between October 23 and May 26. OPaL is a joint venture involving the Oil and Natural Gas Corporation (ONGC), Gas Authority of India (GAIL), and Gujarat State Petroleum Corporation (GSPC).

Emphasising its focus on the natural gas business, HPCL expressed its ambitious plans to establish a strong presence in sectors such as petrochemicals and fertilisers. The Mumbai-based company aims to expand its foothold in these industries. In the last quarter ending on March 31, HPCL achieved the highest net profit increase in nine years, with profits surging by 80 per cent to reach Rs 32.23 billion compared to Rs 17.95 billion in the same quarter of the previous year. The company also witnessed a growth of approximately 8.6 per cent in product sales, amounting to Rs 1.14 trillion, while domestic sales rose to 10.92 million metric tonnes (MMT) from 10.26 MMT in the previous year.

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