Hindustan Oil Exploration Company Ltd clarifies on crude oil supplied to HPCL

Hindustan Oil Exploration Company Limited entered into a crude oil sales agreement with Hindustan Petroleum Corporation Limited (HPCL) on 3rd September 2025, and the offtake and custody transfer were completed on 25th September 2025 for a volume of about 54.6 TMT of crude oil. The indicative quality stated in the contract was based on the crude assay by an independent approved lab report dated 12th July 2025. HPCL had taken the sample through their surveyor at the offloading port at B-80 field at the time of offtake, which was analysed by HPCL subsequently.

It is stated by HPCL that there was high chloride content in the sample analysis. This stated contamination of crude oil is being examined by the Company and no loss or damage or claim is attributable to the Company in terms of the agreement. The Company will engage in discussion with HPCL for redressing the issue.

The Company has earlier supplied substantial quantity of crude oil from Block B-80 and there was no quality issue in the said supply.

Shares of Hindustan Oil Exploration Company Limited was last trading in BSE at Rs. 161.95 as compared to the previous close of Rs. 163.00. The total number of shares traded during the day was 7491 in over 159 trades.

The stock hit an intraday high of Rs. 166.95 and intraday low of 161.00. The net turnover during the day was Rs. 1218628.00.

Source : Equity Bulls

Keywords

HindustanOilExplorationCompany INE345A01011 CrudeOil Supply HPCL Problem