Chennai Petroleum Corporation Ltd:
Chennai Petroleum Corporation Ltd is concerned with the production and sale of petroleum and related products in India. Among a diverse range it products, main products of the company are aviation turbine fuel, petrochemical feedstocks, fuel oil, lube base stocks, motor spirit, LPG, hexane, paraffin wax, Naptha, superior kerosene oil and bitumen.
Other than these products, the company also offers LAB feedstock, LVI spindle, light diesel oil, light extracts, substantial extracts, furnace oil, butane, LSHS, propylene, Naptha, and polybutene feedstock. It serves in multiple sectors to provide transportation fuel to fertilizer, petrochemical, power, roadways, railways and aviation industry. The initial name of the company was Madras Refineries Ltd and later in 2000 was changed to Chennai Petroleum Corp. Ltd. The company is a subsidiary of Indian Oil Corp. Ltd. And is a Chennai based company, founded back in 1965.
About Company Information:
In 1985, AMOCO dissociated itself to favour GOI, and the shareholdings were now revised back to a percentage of 15.38% and 84.62% for GOI and NIOC respectively. A propylene plant was commissioned in 1988. This propylene plant with a capacity of 17,000 tonnes per year was to provide a smooth supply of petrochemical feedstock for neighbouring industries.
On the 19th of May in 1992, GOI dissociated itself from the shareholdings and lowered it to as much as 67.7% by transferring 16.92% of paid-up capital to Banks, Mutual Funds, Insurance Companies as well as Unit Trust of India. During 1992, the company decided to custom-build a Hexane Plant and a sewage water treatment plant with a capacity of 25, 000 Metric Tonnes and a 2.5MGDper year respectively.
During 1997, for satisfying the growing demands of customers, the 500N grade of LOBS was launched by the company CPCL. A clearance from the Government was received the same year by the company for expanding its capacity by 3 million tonnes per year in the Manali facility. In 1999 the company agreed to sign for a power purchase with the Tamil Nadu Electricity Board.
During 2000-2001 Indian Oil Corporation acquired the equity of the company from the GOI. At present, NIOC holds 15.40% equity, and IOC holds 51.88% equity of CPCL. In the year 2005, a project consultancy service was agreed upon by Chennai Petroleum Corporation Ltd and Indian Oil Corporation; this consultancy was to be based on the crude pipeline. Surpassing the yearly targets of the previous year, the crude output during 2005-2006 amounted to 10.36 million metric tonnes.
During 2006-2007, Chennai Petroleum Corporation Limited was recognized by Standard & Poor (a well-known credit rating agency) to be significant competition in the top seven Indian companies and have the potential to turn out to be a blue-chip company. During 2013-14, CPCL’s Manali Refinery broke its best 2010-2011’s record. In comparison to previous (2010-2011) output of 10045 TMT, it now produced 10065 TMT in this period. For the first time during this year, the third unit in Manali surpassed the designed capacity of the unit amounting to 4.0 MMTPA.
The most significant coastal parcel for crude was achieved in March 2014 by CBR, parcel size being 44.4 TMT. This was achieved through the Marg Karaikkal Port and was the new highest in comparison to the previous highest of 42 TMT. Fluidized Catalytic Cracking Unit had a previous best output of 1065 TMT during the financial year 2013-2014 which it broke with the new production of 1075 TMT. The distillate yield record of the last 2014-2015 session (72.15%) stood broken in 2015-2016 with a new record of 72.5%.
For its planned projects in 2015-2016 the company, CPCL, got its highest plan expenditure approved till date summing up to Rs. 1272 crore. In June of 2017, a new cooling tower was approved to be custom-built by the company. In December of 2017 and March of 2018, a new DM plant and SRU was sanctioned to be built by the company respectively.
How Chennai Petroleum Corporation Ltd, is categorised as Petroleum Sector, and Refineries Industry :
The electrical equipment sector in India plays a pivotal role in the Indian economy, contributing direct employment to more than half a million persons and indirect employment to over a million. In recent years, the electrical equipment sector has witnessed sluggish growth owing to the decline in domestic demand and an increase in imported products. Electrical equipment is widely classified as generation equipment, transmission & distribution (T&D) equipment and other allied equipment.
Chennai Petroleum Corporation Ltd is categorised as Petroleum Sector and Refineries Industry. The Electrical Equipment Industry comprises of companies that manufacture a range of products for a diverse customer base. The products include electrical motors, heating, ventilation and air conditioning systems and components, commercial and industrial lighting fixtures, and, among others, electrical power equipment. As the government prepares to meet the demand of power to every house in the nation, the investors in power generation and transmission & distribution is bound to rise. This will present a window of opportunity for domestic power equipment manufacturers.
Chennai Petroleum Corporation Ltd, Competitors and Sector Peers:
Bharat Petroleum Corporation Ltd. BHAPET
Bongaigaon Refinery & Petrochemicals Ltd.[Merged] BONREF
Cals Refineries Ltd. CALLTD
Hindustan Petroleum Corporation Ltd. HINPET
Indian Oil Corporation Ltd. INDIOI
Kochi Refineries Ltd.(Merged) KOCREF
Mangalore Refinery And Petrochemicals Ltd. MANREF
Reliance Industries Ltd. RELINL
Reliance Petroleum Ltd.(Merged) RELPEL