Established In 1965, Chennai Petroleum Corporation Ltd (CPCL) was formed as a joint venture in between the Government of India (GOI), AMOCO and National Iranian Oil Company (NIOC) having a share holding in the ratio 74:13:13 respectively. Originally, CPCL Refinery was set up with an installed capacity of 2.5 million metric tonnes per annum (MMTPA) in a record time of 27 months at a cost of Rs 43 crore without any time or cost overrun. 

 

CPCL, formerly known as Madras Refineries Ltd (MRL), is currently a group company of Indian Oil Corporation (IOCL) headquartered in Chennai. CPCL plays the role of a mother industry supplying feedstocks to the neighbouring industries in Manali. CPCL's products are marketed through IOCL. CPCL's products are mostly consumed domestically except naphtha, fuel oil and lubes which are partly exported. CPCL has also made pioneering efforts in the field of energy and water conservation by setting up a wind farm and sewage reclamation and sea water desalination plant.

 

FINANCIAL PERFORMANCE

Chennai Petroleum Corporation Ltd (CPCL) closed the financial year 2017-18 with an excellent performance in similar lines as in the previous financial year 2016-17.

 

Revenue from operations during 2017-18 was higher at Rs 44,188 crore as compared to Rs 40,608 crore in the previous year, registering a growth of 9 per cent, as result of increased product sales and higher product prices. CPCL has continued to improve the profit before tax and for the current year achieved Rs 1,458 crore, as compared to Rs 1,365 crore during 2016-17, an increase by 7 per cent. 

The PAT was Rs 913 crore as against Rs 1029 crore in the last year. The improvements in the profits during the year are on account of better physical performance and favourable product cracks resulting in higher GRM of $ 6.42 per bbl in the current year as compared to $ 6.05 per bbl in the previous year. The PAT for the current year is comparatively lower, as the tax incidence of the previous year included the 

effect of balance unabsorbed depreciation and was availed in full. The Board of Directors has recommended a dividend of 185 per cent on the paid-up equity capital of the company.

 

PHYSICAL PERFORMANCE

CPCL's continued noteworthy physical performance was mainly due to strong physical performance in 2017-18. During the year 2017-18, CPCL has achieved highest ever crude throughput of 10.789 MMTPA as against the previous best of 10.782 MMTPA in 2014-15 and 10.256 MMTPA of last year.

 

Similar to the previous best performance year, CPCL has further improved the performance during this current year and some of 

the important parameters are highlighted below:

 

? CPCL achieved highest ever distillate yield of 73.2 per cent, surpassing previous best of 72.6 per cent achieved in the year 2016-17.

? CPCL achieved lowest ever Energy Intensity Index (Ell) of 101.0 against previous best of 101.3 in the year 2016-17. 

? CPCL achieved highest Petrol (MS) production of 1107 TMT (thousand metric tonnes) as against the previous best of 1105 TMT in 2016-17.

? CPCL achieved highest ever HSD production of 4412 TMT against previous best of 4182 TM in 2016-17.

? CPCL achieved highest ever OHCU throughput of 2157 TMT and FCCU throughput of 1086 TMT against the previous bests of 2007 TMT in 2013-14 and 1075 TMT in 2014-15 respectively.

 

CPCL successfully commissioned 2.2 MMTPA delayed coker unit in November 2017 for increasing production of valuable distillate products , along with new cooling tower, sulphur recovery unit, sour water stripper, amine regeneration unit, and DMRO plant. Further, CPCL has successfully commissioned DHDS revamp project in February 2018. CPCL also started marketing petroleum coke to nearby customers.

 

FUTURE PROJECTS

CPCL is currently implementing a number of projects to improve reliability, profitability and to meet BS VI product quality specifications. The total cost of these projects which are under implementation is estimated to be Rs 2,540 crore. While the new crude oil pipeline project is expected to be mechanically completed soon, the BS-VI project is likely to be completed during the year 2019-20. Regasified liquefied natural gas (RLNG) project is scheduled to be completed in phases from November 2018 onwards.

 

CPCL is also planning to set up a 9 MMTPA refinery at Cauvery Basin, Nagapattinam at an estimated cost of Rs 27,450 crore plus or minus 30 per cent. In principle approval has been obtained for this project. The proposed new project will play an important role in meeting future energy needs of Tamil Nadu State. Preparation of detailed feasibility report is underway and is expected to be completed by March 2019.

 

 

Procurement Contacts

 

Name Designation Phone No Email

V Anniyappan Deputy General Manager (Contracts) 044-25944635 anniyappan@cpcl.co.in

K Nandakumar CM Purchase 044-25944649 nandakumar@cpcl.co.in

S Anbu Ramesh Sr Manager (Purchase) 044-25944328 anburamesh@cpcl.co.in

N B Kumar Manager (Contracts) 044-25944268 nbkumar@cpcl.co.in

Viral Sangani Senior Manager

(Projects-EPCC) 026-16687124 Viral.Sangani@epcc.co.in

 

 

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