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Chennai Petroleum Corporation Limited (CPCL) is an Indian state-owned oil and gas corporation headquartered in Chennai, India. It was formed as a joint venture in 1965 between the Government of India (GOI).
Chennai Petroleum Corporation Limited (CPCL) a Group employer of Indian Oil Corporation (IOCL) is an Indian state-owned oil and gas corporation based in Chennai, India. It changed into shaped as a joint assignment in 1965 between the Government of India (GOI), AMOCO and National Iranian Oil Company (NIOC), having a shareholding in the ratio 74%: 13%: 13% respectively. From the grassroots level CPCL Refinery become set up with an mounted potential of two.5 million tonnes consistent with annum (MMTPA) in a report time of 27 months at a value of Rs. 430 million with none time or price overrun.
In 1985, AMOCO disinvested in favour of GOI and the shareholding percent of GOI and NIOC stood revised at 62% and 15.38% respectively. Later GOI disinvested sixteen.92% of the paid up capital in desire of Unit Trust of India, mutual price range, insurance organizations and banks on 19 May 1992, thereby decreasing its protecting to sixty seven.7%. The public trouble of CPCL stocks at a top class of Rs. 70 (Rs. Ninety to FIIs) in 1994 became oversubscribed to an quantity of 27 instances and introduced a large shareholder base of over 90000. As a part of the restructuring steps taken up via the Government of India, Indian Oil Corporation Limited (IOCL) received equity from GOI in 2000-01. Currently IOC holds fifty one.88% at the same time as NIOC endured its preserving at wax and petrochemical feedstocks manufacturing facilities.
CPCL has two refineries with a blended refining ability of eleven.5 million tonnes consistent with annum (MMTPA). The Manali Refinery in Chennai has a capacity of 10.Five MMTPA and is one of the most complex refineries in India with gas, lube, wax and petrochemical feedstocks production facilities. CPCL’s second refinery is Nagapattnam Refinery located at Cauvery basin at Nagapattinam in Panagudi. This unit changed into set up in Nagapattinam with a potential of 0.Five MMTPA in 1993 and later greater to 1.0 MMTPA. Now this 1.Zero MMTPA refinery is being dismantled to boom its capability to 9.0 MMPTA with price of 27,000 crores this new venture might be finished by means of 2022 and will improve the agency growth similarly. The most important merchandise of the employer are LPG, Motor Spirit, superior kerosene, aviation turbine gasoline, excessive pace diesel, naphtha, bitumen, lube base shares, paraffin wax, gasoline oil, hexane and petrochemical feed shares. The wax plant at CPCL has an installed capability of 30,000 tonnes consistent with annum, which is designed to produce paraffin wax for manufacture of candle wax, water-resistant formulations and in shape wax. A propylene plant with a ability of 17,000 tonnes per annum become commissioned in 1988 to deliver petrochemical feedstock to neighbouring downstream industries. The unit became remodeled to decorate the propylene production capacity to 30,000 tonnes in keeping with annum in 2004. CPCL additionally materials LABFS to a downstream unit for the manufacture of liner alkyl benzene.
CPCL performs the position of a mother industry offering feedstocks to the neighbouring industries in Manali. CPCL’s merchandise are marketed via IOCL. CPCL’s products are frequently fed on regionally except naphtha, gas oil and lubes which might be partially exported.
CPCL has additionally made pioneering efforts inside the area of energy and water conservation through putting in a wind farm and sewage reclamation and sea water desalination plant life.
The crude throughput for 2016-17 changed into 10.256 million metric tonnes (MMT). The business enterprise’s turnover for 2016-17 turned into Rs.40586 crores and the earnings after tax become Rs.1030 crores & the crude throughput for 2017-18 become 10.789 million metric tonnes (MMT). The company’s turnover for 2017-18 became Rs.44134 crores and the profit after tax changed into Rs.912.Ninety three crores.