HPCL expands refining capacity, diversifies portfolio
NEW DELHI: State-run Hindustan Petroleum Corporation (HPCL) is expanding its business portfolio by foraying into LNG (liquefied natural gas), petrochemicals and oil-to-chemicals and expanding refining capacity as a hedge against losses from fuel sales, company chairman Pushp Joshi said on Sunday.
The company is poised to start operating its Vizag refinery at the expanded capcity of 15 million tonnes per annum from June to improve product availability.
“We market double the quantity of products we produce,” Joshi said explaining that the expanded Vizag capacity together with the upcoming Barmer refinery in Rajasthan will make the company self-sufficient in products.
