Chennai Petroleum Corporation Ltd

Chennai Petroleum Corporation Limited Share Price

Chennai Petroleum Corporation Limited (CPCL) refines crude oil to make and distribute a variety of petroleum products, as well as manufacture and sell lubricating oil additives. The controlling company, Indian Oil Corporation Limited, markets most of its petroleum products. Chennai Petroleum Corporation Limited (CPCL) was formed on November 18, 1965. Chennai Petroleum Corporation Ltd. is a public limited company founded on December 30, 1965, with its registered headquarters in Tamil Nadu, India. You can find the CPCL share price with the company's Corporate Identification Number (CIN) of L40101TN1965GOI005389. Its registration number is 005389.

Company History of Chennai Petroleum Limited

Formerly known as Madras Refineries Limited (MRL), CPCL was set up as a joint venture by the Government of India (GOI), AMOCO, and the National Iranian Oil Company (NIOC), with shareholdings of 74%, 13%, and 13% respectively. CPCL operates two refineries with a total refining capacity of 10.5 million tonnes per annum (MTPA). The Manali Refinery has a capacity of 9.5 MTPA and is one of India's most complicated refineries, producing fuel, lubricant, wax, and petrochemical feedstocks. 

CPCL's second refinery in the Cauvery Basin, Nagapattinam, with a capacity of 1.0 MMTPA. The company's major products include LPG, motor spirit, superior kerosene, aviation turbine fuel, high-speed diesel, naphtha, bitumen, lube base stocks, paraffin wax, fuel oil, hexane, and petrochemical feedstocks. This diversified product base has improved investor confidence in the firm which led to a better performance of Chennai Petroleum share price. You can find the Chennai Petroleum share price BSE on BlinkX.

Milestones of Chennai Petroleum Limited

In 1988, the firm set up a propylene plant with a capacity of 17,000 tons per year to supply petrochemical feedstock to nearby downstream companies. CPCL had signed an arrangement with Balmer Lawrie & Co. Ltd. Chennai in September 1991 for the provision of anti-oxidant feedstock, and the first supply began successfully in March 1992. 

On May 19, 1992, the GOI disinvested 16.92% of the paid-up capital in favour of the Unit Trust of India, Mutual Funds, Insurance Companies, and Banks, lowering its ownership to 67.7%. In 1992, the firm commissioned its Hexane Plant, which has a manufacturing capacity of 25,000 Metric Tonnes per year, as well as a Sewage Water Treatment Plant with a capacity of 2.5 MGD.