|Bid||213.40 x 0|
|Ask||0.00 x 0|
|Day's Range||205.80 - 214.50|
|52 Week Range||205.80 - 370.80|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||3.02|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||507.57|
India's Chennai Petroleum Corp said on Wednesday it would shut a diesel hydrotreater at its 210,000 barrel-per-day Manali refinery in Tamil Nadu for about 60 days from August, for a revamp to produce Euro-VI compliant diesel. The company is also installing a gasoline desulphuriser to reduce sulphur content in the gasoline produced from fluidised catalytic cracker, the company said in an email. India will fully migrate to Euro-VI compliant fuels from April 2020.
India's biggest refiner Indian Oil Corp Ltd said on Wednesday that Iran may still invest in a refinery expansion project at one of its subsidiaries. Indian Oil's chairman Sanjiv Singh said that Iran has not ruled out participating in the expansion at Chennai Petroleum Corp Ltd, a south India-based 20,000 barrels per day (bpd) refinery. Iran's participation has been questioned after India cut back its Iranian crude oil imports following U.S. sanctions.
India's Chennai Petroleum Corp Ltd has shut a 74,000 barrel per day (bpd) crude unit at its 210,000 bpd Manali refinery in Tamil Nadu from Oct. 6 for about month for planned maintenance, the company has said. The company has also shut some secondary units including a 0.8 million tonne a year fluidised catalytic cracker and a 2.2 million tonnes a year delayed coker for maintenance, the company said in an email response to Reuters query. Chennai Petroleum is a subsidiary of the country's top refiner Indian Oil Corp and meets the fuel requirements of southern India.
India's Chennai Petroleum will stop processing Iranian crude oil from October to keep its insurance coverage once new sanctions by the United States against Iran go into effect, three sources familiar with the issue said. Iran's Naftiran Intertrade Co Ltd, a trading arm for state-owned National Iranian Oil Co, owns a 15.4 percent stake in Chennai Petroleum, which has two refineries with a total combined capacity of 230,000 barrels of oil per day (bpd). In May, U.S. President Donald Trump pulled out of an international nuclear deal with Iran and announced new sanctions against the country, the third-largest producer among the Organization of the Petroleum Exporting Countries (OPEC).