• Privacy Policy
  • About Us
  • Contact Us
  • Home
  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
No Result
View All Result
  • Home
  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
No Result
View All Result
Cartographeum
No Result
View All Result

CPCL targets improvements to margins

Juliet Woodard by Juliet Woodard
September 13, 2020
Home Business
Share on FacebookShare on Twitter

Measures to boost realisation include a naphtha splitter, low sulphur fuel oil foray

State-owned refiner Chennai Petroleum Corporation Ltd. (CPCL) , which posted a loss of ₹2,078 crore in FY20, has planned several initiatives for the current fiscal to improve its operational performance, said a top official.CPCL posted a pre-tax profit of ₹430 crore in the first quarter following improvement in crude prices though product margins continued to remain below the economic level and demand was only 70-75% of the normal. “We expect the demand to significantly improve by Q3 of FY21,” Chairman S.M. Vaidya told shareholders at the annual general meeting.“CPCL has initiated many measures to improve profitability and reduce operating costs and with good physical performance combined with these new measures, we are confident of better financial performance in the current fiscal,” he said.As part of measures to improve margin realisation, a naphtha splitter was being installed in crude unit II to split the naphtha into light and heavy grades. “This initiative will improve margin realisation of naphtha through exports and also help to consume part of the production within India as also contribute to improve the company’s gross refining margin,” Mr. Vaidya said.CPCL had also initiated action to manufacture low sulphur fuel oil, which has a better margin compared to other products. It also plans to raise hexane output from 20,000 MT to 36,000 MT per year during 2021-22 and later scale it up by an additional 15,000 MT per year in the near future. These efforts were expected to improve profitability by about ₹90 crore per year.Higher production of Lube Oil Base Stock (LOBS) products would also increase CPCL’s profitability, as margins from LOBS are quite high, he added.

You have reached your limit for free articles this month.
To get full access, please subscribe.
Already have an account ? Sign in

Show Less Plan

Subscription Benefits Include

Today’s Paper
Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Faster pages
Move smoothly between articles as our pages load instantly.

Unlimited Access
Enjoy reading as many articles as you wish without any limitations.

Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.

Personalised recommendations
A select list of articles that match your interests and tastes.

Briefing
We brief you on the latest and most important developments, three times a day.

*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.

A letter from the Editor
Dear subscriber,Thank you!Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.Suresh Nambath

Tags: Chennai Petroleum Corporation LtdFY 20oil refinery
Juliet Woodard

Juliet Woodard

Next Post
Vivo V20 SE Will Launch Soon, Vivo Malaysia Teases on Facebook

Vivo V20 SE Will Launch Soon, Vivo Malaysia Teases on Facebook

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended.

Gold plunges ₹ 1,492, silver tanks ₹ 1,476

Sensex shed over 200 points in early trade; Reliance tanks 4%

November 2, 2020
Gold plunges ₹ 1,492, silver tanks ₹ 1,476

RBI to hold TLTRO of up to ₹1 lakh cr.

October 25, 2020

Trending.

Understanding Emergency Rental Assistance For Landlords And Tenants

Understanding Emergency Rental Assistance For Landlords And Tenants

January 27, 2021
Call of the mall – The Hindu

Call of the mall – The Hindu

October 16, 2020
Rock Legend Gene Simmons Kisses His California Estate And High Taxes Goodbye

Rock Legend Gene Simmons Kisses His California Estate And High Taxes Goodbye

November 1, 2020
Should You Consider A Career As An Apartment Lease-Up Specialist?

Should You Consider A Career As An Apartment Lease-Up Specialist?

February 4, 2021
WeWork May Use A SPAC To Finally Go Public, Report Says

WeWork May Use A SPAC To Finally Go Public, Report Says

January 28, 2021

Cartographeum brings you the latest information about Tech,Real Estate & Business.

Follow Us

Categories

  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
  • Uncategorized

Tags

Amazon Apple Watch 2 Bombay stock exchange BSE Business Buying Guides china closing trade coronavirus Covid COVID-19 currency dollar rate economy Finance Ministry foreign exchange forex gold india indian economy Indian stock market Industry iOS 10 lockdown luxury homes market and exchange markets nifty Nirmala Sitharaman NSE oil pandemic Playstation 4 Pro rbi real estate Reserve Bank of India rupee rupee rate Rupee value rupee vs dollar sensex Sillicon Valley stock exchange Stocks USD

Recent News

Housing Affordability Inches Down, Despite Record-Low Mortgage Rates

Mortgage Rates Hit Highest Point Since Last July; Will They Keep Rising?

March 3, 2021
How Much Bezos, Musk, Gates and Zuckerberg Would Pay

How Much Bezos, Musk, Gates and Zuckerberg Would Pay

March 3, 2021
  • Privacy Policy
  • About Us
  • Contact Us

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Review
  • Computers
  • Gear

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.