Chennai Petroleum Corporation
Chennai Petroleum Company Restricted (CPCL) is an Indian state-owned oil and fuel company headquartered in Chennai, India. It was formed as a joint enterprise in 1965 between the federal government of India (GOI), AMOCO and Nationwide Iranian Oil Firm (NIOC), having a shareholding within the ratio 74%: Thirteen%: 13% respectively. From the grassroots stage CPCL Refinery was arrange with an put in capacity of two.5 million tonnes per annum (MMTPA) in a report time of 27 months at a price of Rs. 430 million with none time or price overrun.
In 1985, AMOCO disinvested in favour of GOI and the shareholding proportion of GOI and NIOC stood revised at sixty two% and 15.38% respectively. Later GOI disinvested 16.Ninety petroleum equipment international houston quotes two% of the paid up capital in favor of Unit Belief of India, mutual funds, insurance coverage corporations and banks on 19 Might 1992, thereby decreasing its holding to 67.7%. The public challenge of CPCL shares at a premium of Rs. 70 (Rs. Ninety to FIIs) in 1994 was oversubscribed to an extent of 27 occasions and added a big shareholder base of over 90000. As a part of the restructuring steps taken up by the federal government of India, Indian Oil Corporation Restricted (IOCL) acquired equity from GOI in 2000-01. Presently IOC holds 51.88% whereas NIOC continued its holding at wax and petrochemical feedstocks manufacturing services.
CPCL has petroleum equipment international houston quotes two refineries with a mixed refining capacity of eleven.5 million tonnes per annum (MMTPA). The Manali Refinery in Chennai has a capacity of 10.5 MMTPA and is one of the most advanced refineries in India with gas, lube, wax and petrochemical feedstocks manufacturing amenities. CPCL’s second refinery is Nagapattnam Refinery situated at Cauvery basin at Nagapattinam in Panagudi. This unit was arrange in Nagapattinam with a capacity of 0.5 MMTPA in 1993 and later enhanced to 1.Zero MMTPA.
The main merchandise of the corporate are LPG, Motor Spirit, superior kerosene, aviation turbine gas, excessive pace diesel, naphtha, bitumen, lube base stocks, paraffin wax, gasoline oil, hexane and petrochemical feed stocks. The wax plant at CPCL has an installed capability of 30,000 tonnes per annum, which is designed to supply petroleum equipment international houston quotes paraffin wax for manufacture of candle wax, waterproof formulations and match wax. A propylene plant with a capability of 17,000 tonnes per annum was commissioned in 1988 to supply petrochemical feedstock to neighbouring downstream industries. The unit was revamped to reinforce the propylene manufacturing capacity to 30,000 tonnes per annum in 2004. CPCL additionally provides LABFS to a downstream unit for the manufacture of liner alkyl benzene.
CPCL performs the function of a mom industry supplying feedstocks to the neighbouring industries in Manali. CPCL’s merchandise are marketed by IOCL. CPCL’s merchandise are mostly consumed domestically except naphtha, gasoline oil and lubes which are partly exported.
CPCL has additionally made pioneering efforts in the sector of energy and water conservation by organising a wind farm and sewage reclamation and sea water desalination plants.
The crude throughput for 2011-12 was 10.557 million metric tonnes (MMT). The company’s turnover for 2011-12 was Rs.45385 crores and the profit after tax was Rs.Sixty one.83 crores.
The company has declared a dividend of 20% on the paid-up fairness share capital of the corporate for 2011-12.
The production line has been affected multiple times resulting from nature’s adversities in form of drought and excessive rains.[Eight]
It is categorized as a Miniratna-I company by the federal government.
^ “Company History – Chennai Petroleum Corporation Ltd”. The Financial Instances. Retrieved 1 June 2016.
^ “Gautam Roy appointed as CPCL MD”. Business Normal. 14 Oct 2014.
^ “Administrators – CPCL”. www.cpcl.co.in. Retrieved 1 June 2016.
^ “Annual Report 2014” (PDF). www.cpcl.co.in. Retrieved 1 June 2016.
^ Kalyanaraman, Anand (22 Nov 2015). “Chennai Petroleum Corporation: Needs extra refining”. Enterprise Line.
^ “CPCL – Historical Static And Dynamic Seals For Pyrolysis past”. NDTV Revenue. Retrieved 1 June 2016.
^ “Enterprise Refineries”. CPCL. Retrieved 17 March 2017.
^ “Chennai floods: Chennai Petroleum plunges 5% as firm shut its refinery”. Day by day News and Evaluation. 3 Dec 2015.
^ “CPCL resumes rest of the operations at Manali Refinery”. Business Customary. 24 Dec 2015.
^ Munian, A. (2010). Dynamics of residential water demand and supply in India : a case research of Chennai Metropolis. New Delhi: Gyan Pub. Home. p. 128. ISBN 8121210623.
^ compiled; O’Brien, edited by Derek (2009). The Penguin-CNBC-TV18 business yearbook, 2009. New Delhi, India: Printed by Penguin Books India in association with CNBC-TV18 Community. p. 353. ISBN 014306570X.