Pushp Kumar Joshi News Today

The ongoing attacks on shipping vessels by Houthi militants in the Red Sea have not impacted the flow of crude oil to India but freight has gone up due to rerouting via the Cape of Good Hope, Hindustan Petroleum Corporation Ltd (HPCL) chairman Pushp Kumar Joshi said. India, the worlds

Red Sea Crisis: The attacks on shipping vessels in the Red Sea by Houthi militants have not affected Indias crude oil supply, according to Hindustan Petroleum Corporation Ltd (HPCL) Chairman Pushp Kumar Joshi. He mentioned that although Russian ships and cargoes are not primary targets of the attacks, the rerouting of ships around the Cape of Good Hope has led to longer voyages, causing a shortage of ships and an increase in freight charges.

India Business News: During a post-third quarter earnings call with investors, HPCL chairman assured that there are no supply disruptions despite the ongoing Red Sea crisi

Hindustan Petroleum Corporation Ltd (HPCL) chairman Pushp Kumar Joshi has stated that Houthi militants attacks on ship vessels have not affected Indias crude oil flows, despite the ongoing Red Sea attacks.

The Red Sea shipping route accounts for 50 per cent of the country's exports and 30 per cent of imports last fiscal. Domestic companies use the Red Sea route through the Suez Canal to trade with Europe, North America, North Africa and part of the Middle East.

The attacks on shipping vessels in the Red Sea by Houthi militants have not affected Indias crude oil supply, according to Hindustan Petroleum Corporation Ltd (HPCL) Chairman Pushp Kumar Joshi. He mentioned that although Russian ships and cargoes are not primary targets of the attacks, the rerouting of ships around the Cape of Good Hope has led to longer voyages, causing a shortage of ships and an increase in freight charges.

The Centurion University of Technology and Management here commemorated its 11th Convocation ceremony on Saturday.   The event witnessed the esteemed presence of Governor Raghubar Das. The guests for the occasion included distinguished personalities like Judge of the Supreme CourtvJustice

"The conflict, even if in a stalemate at present, remains centre stage for crude and the war premium continues to rise and fall on the back of emerging headlines," HPCL chairman and managing director Pushp Kumar Joshi told ET.

Hindustan Petroleum Corporation Ltd (HPCL) is set to discontinue its practice of purchasing diesel from companies like Reliance Industries Ltd and Nayara Energy once it completes the expansion of its Visakhapatnam refinery in Andhra Pradesh and constructs a new refinery in Rajasthan in the next financial year. This move reflects the companys commitment to boosting its oil refining capacity and ensuring self-reliance in the production of petrol and diesel.

As regards petrol, 49% will come from HPCLs existing two refineries, 10% from HMEL, 12% from Rajasthan refinery and balance 29% from other refineries such as MRPL, Reliance and Nayara, he said. Joshi said HPCL has been in the past five years concentrating on a three-fold strategy -- strengthening quality and capacity of its assets which includes refinery capacity additions as well as augmenting capacity of pipelines to transport fuel particularly in the south, foray into petrochemical business w...