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The Tamil Nadu pollution control board (TNPCB) has commenced monitoring the air quality after residents complained of a pungent order suspected to be due to a Sulphur Dioxide leak from Chennai Petroleum Corporation Limited (<keyword id="154982" type="General" weightage="80" keywordseo="cpcl" source="Orion">CPCL</keyword>). Residents of <keyword id="130300" type="General" weightage="50" keywordseo="tiruvottiyur" source="Orion">Tiruvottiyur</keyword> and <keyword id="6363190" type="General" weightage="50" keywordseo="manali" source="Orion">Manali</keyword> in Chennai city have complained of a pungent smell for the past few days, and several healthy people have complained of breathlessness. Residents living in an area of 2-3 km of CPCL have complained of pungent smell and breathlessness, particularly during the morning and evening. A senior officer with the TNPCB, while speaking to IANS, said, "We have received complaints from residents of <keyword id="2606464" type="General" weightage="50" keywordseo="jyothi-nagar" source="Orion">Jyothi Nagar</keyword> in Tiruvattiyor and in Manali areas. We are monitoring the air quality for the next 24 hours and will find out what exactly has happened." The officer also said that CPCL had imported Sulphur dioxide from Russia with high sulphur content a few days ago. The PCB has directed CPCL not to import that particular variety of crude oil further. CPCL officials, however, denied any leak from the plant, and a senior official told IANS that they are assisting the PCB officials in finding out the gas that has leaked. The official said, "If the leak were from our plant, our workers and officials would have felt it first." The CPCL official also denied that there was no crude import with high sulphur content from Russia and that crude comes from Mumbai and the <keyword id="30350" type="General" weightage="50" keywordseo="middle-east" source="Orion">Middle East</keyword>. However, the PCB has directed the CPCL to install incinerators with Sulphur Recovery Units (SRUs). The pollution control board also directed CPCL that emission standards are complied with and to achieve Sulphur Recovery efficiency of 98.7 per cent at all times in compliance with the Union Environment Ministry notification of March 2008.

TNPCB monitors air quality in Chennai after a suspected gas leak

Chennai, Mar 2 (): IndianOil Group company ChennaiPetroleum Corporation Ltd (CPCL) on Monday announced theelevation of S Krishnan as Director-Operations with immediateeffect.An alumni of Alagappa Chettiar College, Krishnan has over34 years experience in CPCL and has held various positions invarious departments before joining the company's Board ofDirectors, a press release said.Some of the major projects handled by him in the projectsdepartment were the captive power plant, revamp projects inrefinery and BS IV quality upgradation project.He executed various water conservation measures, reducingcosts and took energy conservation measures during his tenurein the operations department. He coordinated various functions of the refinery,including finance, personnel, administration and productionwhile serving in the Managing Director's office, it said. VIJ APRAPR APR

CPCL elevates S Krishnan as Director-Operations

New Delhi, Mar 31 () Oil and Natural Gas Corp (ONGC), Indian Oil Corp (IOC) and other public sector oil companies have contributed over Rs 1,000 crore to the Prime Minister CARES Fund to help in the fight against COVID-19 pandemic. ONGC was the top contributor with Rs 300 crore, followed by IOC chipping in Rs 225 crore. Privatisation-bound Bharat Petroleum Corp Ltd (BPCL) provided Rs 175 crore, while Hindustan Petroleum Corp Ltd (HPCL) chipped in Rs 120 crore. Petronet LNG Ltd gave Rs 100 crore, gas utility GAIL Rs 50 crore and Oil India Ltd another Rs 38 crore. ONGC Chairman and Managing Director Shashi Shanker said the company gave Rs 300 crore from its corporate social responsibility (CSR) funds while the company employees contributed two days' salary, totalling Rs 16 crore, to the fund. "We are maintaining oil and gas production by practicing social distancing," he said adding besides contributing to the PM fund, company employees and their families have feeding hungry daily wagers. In Vadodara, company employees not just fed daily wagers but also handed over 300 ration kits (8 kg each) to the district police chief for distribution. At Dehradun, the company distributed 10,000 sanitizers and an equal number of face masks to poor slum dwellers. In Noida, ONGC employees at their personal level handed over 100 food packets to the police, he said. "IndianOil as a responsible corporate is contributing Rs 225 crore to #PMCaresFund specially created to combat COVID-19 pandemic," the company said in a tweet adding its employees are also contributing two days' of their salary towards the fund. In a statement, Petronet LNG Ltd said it has made a contribution of Rs 100 crore to the PM CARES fund. "While ensuring a seamless supply of LNG to India, the company stands with the nation and has also contributed Rs 1.53 crore to various health institutions for procuring personal protective equipment for healthcare workers at Bharuch in Gujarat and Kochi in Kerala," it said. BPCL in a statement said it continues to operate units, feeding the nation with fuel and LPG. "We want to assure everyone that we have enough of LPG stock, across our network. All our LPG plants have enough manpower to operate them and all our distributors are making all efforts to deliver Bharatgas cylinders at the doorstep of our consumers," it said. "BPCL and its subsidiaries commit Rs 175 crore towards PM CARES fund to help the government to combat coronavirus, as our humble contribution towards the well-being of the society," it said. Oil India Ltd Chairman and Managing Director Sushil Chandra Mishra said the company is contributing Rs 38 crore to the fund. "OIL strives not only towards energy security of the nation but also is resolved in rising to the occasion to combat this difficult time." Besides, employees of OIL have contributed one day's salary to the PM fund, he said. GAIL, besides contributing Rs 50 crore to the PM Fund, said its employees have contributed 2 days' salary amounting to Rs 3.8 crore. Further, Numaligarh Refineries Ltd has contributed Rs 25 crore, OIDB Rs 17 crore, MRPL Rs 2 crore, CPCL Rs 2 crore and Engineers India Ltd Rs 1 crore. "I am grateful, and delighted, to announce that the oil and gas establishment is ready with a contribution of Rs 1031.29 crore by the PSUs and other oil JVs for the PM-Cares Fund. Additionally, Rs 61 cr has been contributed by colleagues of PSUs from their salaries for the #PMCARES," Oil Minister Dharmendra Pradhan tweeted. "I am humbled to see the commitment of our people of oil and gas PSUs when the world faces one of the biggest crises. I am proud to be a part of this family," he added. ANZ ANZ ANSANS

ONGC, IOC, other oil cos contribute over Rs 1,031 cr to PM COVID-19 fund

State-owned Oil and Natural Gas Corp (ONGC) is keen to acquire India's third-biggest fuel retailer <keyword id="6362419" type="CITY" weightage="20" keywordseo="HPCL">HPCL</keyword> in a Rs 42,254 crore deal after finding <keyword id="75662" type="CITY" weightage="100" keywordseo="Bharat-Petroleum">Bharat Petroleum</keyword> Corp Ltd (BPCL) too expensive to buy, according to a news report by PTI. Following up on Finance Minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>'s Budget announcement of creating an integrated oil company, ONGC evaluated options of acquiring either <keyword id="170674" type="COMPANY" weightage="20" keywordseo="Hindustan-Petroleum-Corp-Ltd">Hindustan Petroleum Corp Ltd</keyword> (HPCL) or BPCL - the two downstream oil refining and fuel marketing companies. While acquiring either one of them made a lot of business sense, ONGC found the nation's second-biggest fuel retailer, BPCL too expensive, sources privy to the development said. BPCL has a market cap of Rs 1,01,738 crore and buying government's 54.93 per cent would along have entailed an outgo of Rs 55,885 crore. So, ONGC is in favour of acquiring HPCL, which has a market cap of Rs 54,797 crore and buying government's entire 51.11 per cent stake would entail an outgo of Rs 28,006 crore. Another Rs 14,000 crore or so would be required in case open offer has to be made. Sources said while initially the government was looking at creating an integrated oil company through merge of an oil producer with a refiner, the idea was dropped for the fear of not repeating of the Air India-Indian Airlines merger. Similar differences in work culture and ethos prevail in upstream and downstream firms and so the exercise under consideration now is to only help government mop up resources and HPCL would become a mere subsidiary of ONGC. ONGC already has a refining subsidiary in Mangalore Refinery and Petrochemcials Ltd (MPRL). Sources said an open offer to buy another 26 per cent stake from other shareholders of HPCL would at current price cost ONGC another Rs 14,247 crore. As per Sebi's takeover code, if a company acquires more than 25 per cent in another listed company, it has to make an open offer to buy at least 26 per cent more in the target firm. Some reports have suggested that ONGC buying government stake in HPCL may not trigger an open-offer rule as the government's holding is being transferred to another state-run firm and the ownership is not going to change. But sources said that way back in February 2002, state- owned <keyword id="59622" type="CITY" weightage="20" keywordseo="Indian-Oil-Corp">Indian Oil Corp</keyword> (<keyword id="6354733" type="ORGANIZATION" weightage="20" keywordseo="IOC">IOC</keyword>) had acquired government's 33.58 per cent stake in fuel retailer IBP Co Ltd for Rs 1,153.68 crore and had to make an open offer for additional shares. Both IOC and IBP were government owned companies. Sources said the oil ministry and ONGC may try and seek exemption from the open offer to keep the acquisition cost low. ONGC has cash reserve of Rs 13,014 crore and to fund the government stake acquisition in HPCL it will have to borrow at least Rs 18,000 crore, they said. If the open offer is made, additional borrowings would have to be done. There are only six major companies in the oil sector - ONGC and Oil India Ltd being the oil producers, Indian Oil Corp (IOC), HPCL and BPCL in refinery business and GAIL in midstream gas transportation business. The rest such as ONGC Videsh, Chennai Petroleum Corp (CPCL), Numaligarh Refinery Ltd and MRPL are already subsidiaries of one of these six PSUs. Sources said the options were very limited and ONGC chose HPCL over BPCL. HPCL will add 23.8 million tonnes of annual oil refining capacity to ONGC's portfolio, making it the third-largest refiner in the country after IOC and Reliance Industries. ONGC already is majority owner of MRPL, which has a 15- million tons refinery. Sources said ONGC buying HPCL will require two sets of Cabinet approval - one where the government approves sale of its all or part of its 51.11 per cent stake to ONGC, and the other for allowing ONGC to spend the money on stake buy.

You Searched For "cpcl" and got 4 results

TNPCB monitors air quality in Chennai after a suspected gas leak

IANS

CPCL elevates S Krishnan as Director-Operations

PTI

ONGC, IOC, other oil cos contribute over Rs 1,031 cr to PM COVID-19 fund

PTI

Bharat Petroleum is too expensive; ONGC plans to buy Hindustan Petroleum

BI India Bureau

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