HINDUSTAN PETROLEUM CORPORATION LTD. - Hindustan Petroleum Corporation Ltd reply to clarification sought by the exchange
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| 04 Jun 2015 | |
| The Exchange had sought clarification from Hindustan Petroleum Corporation Ltd with respect to news article appearing on CNBC TV 18 on June 3, 2015 titled "IOC, HPCL in talks w/Iraq's SOMO to buy 4m bbls oil for strategic reserves"<BR> <BR>Hindustan Petroleum Corporation Ltd replied stating "Indian Strategic Petroleum Reserves Limited (ISPRL), a wholly owned Government Company under the Ministry of Petroleum and Natural Gas (MOP&NG), has constructed a rock cavern for storing crude oil at Visakhapatnam on the east coast of India. MOP&NG has advised HPCL and IOCL to purchase 4 million barrels each of Basrah Light Crude Oil on behalf of ISPRL for filling the cavern and claim reimbursement from ISPRL. Accordingly, HPCL has been in touch with SOMO (Oil Marketing Company, Ministry of Oil, Republic of Iraq), who market Basrah Light Crude Oil, for allocation of 2 million barrels of the crude in the coming month." | |
| View all announcements for HINDUSTAN PETROLEUM CORPORATION LTD. | Source: BSE India |
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