CPCL achieved best-ever Physical Performance in fy 2022-23
NEW DELHI- Chennai Petroleum Corporation Limited (CPCL) has achieved the record, best-ever Physical Performance for the financial year 2022-23.
CPCL’s Manali Refinery achieved the highest-ever thruput of 11.3 Million Metric Tonnes Per Annum (MMTPA) in 2022-23, which is over 107% of its capacity utilization, as against 9.0 MMTPA in 2021-22.
CPCL surpassed past records in the production of Diesel (HSD), Petrol (MS), Aviation Turbine Fuel (ATF), Naphtha and Hexane by 26.8%, 14.3%, 47.4%, 23%, and 6.3% respectively compared to last year, all of which are highest-ever in the history of CPCL.
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During 2022-23, CPCL achieved 104% of the CAPEX target by spending Rs.609 Crore on its Projects including JVs as against the outlay of Rs.584 Crore. Mr.Arvind Kumar, Managing Director, CPCL, attributed the stupendous physical performance of CPCL to the collective and committed team effort of its employees under the challenging business environment prevailing in the Oil Industry.
About Chennai Petroleum Corporation Limited
Chennai Petroleum Corporation Limited (CPCL) is a public-sector undertaking and a subsidiary of Indian Oil Corporation Limited (IOCL). It was established in 1965 as a joint venture between the Government of India, AMOCO, and the National Iranian Oil Company. CPCL is headquartered in Chennai, Tamil Nadu, India.
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CPCL is engaged in the refining of crude oil and producing a range of petroleum products including diesel, LPG, aviation turbine fuel, naphtha, kerosene, bitumen, and others. The company operates two refineries: Manali Refinery located in the northern suburbs of Chennai and the Cauvery Basin Refinery located in Nagapattinam, Tamil Nadu.
CPCL also has a network of retail outlets, storage terminals, and pipelines for the distribution of its products. It has a total of 517 retail outlets spread across Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, and Puducherry.
CPCL is committed to sustainable and responsible growth and has implemented several initiatives to minimize its environmental footprint, including improving energy efficiency, reducing emissions, and promoting the use of renewable energy sources.
In 2018, IOCL acquired a 51.89% stake in CPCL, making it a wholly-owned subsidiary of IOCL. CPCL continues to operate as a separate entity under the IOCL umbrella.
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