Axens awarded contract for CPCL Cauvery Basin refinery project in India
5/4/2021
Chennai Petroleum Corporation Limited (CPCL), a group company of Indian Oil Corporation Limited (IOCL), India, has selected Axens to supply several advanced technologies for its state-of-the-art 9-MMtpy refinery to be set at Cauvery Basin at Nagapattinam in Tamil Nadu (southern part of India).
CPCL’s Cauvery Basin Refinery (CBR) was commissioned in November 1993, to process Narimanam crude, initially with a capacity of 500,000 tpy further expanded to 1 MMtpy in 2002. CPCL is planning to expand the capacity of CBR by adding grassroots facilities at the same location of the existing refinery in Nagapattinam.
April 28, 2021
Buoyed by better operational performance and inventory gains
Chennai Petroleum Corporation Limited (CPCL) has reported a net profit of ₹232 crore for the quarter ended March 31, 2021 when compared with a net loss of ₹1,638 crore in the year-ago quarter.
Revenue from operations stood at ₹14,705 crore as compared to ₹11,792 crore in the year-ago quarter.
For the full year 2020-21, the company’s net profit stood at ₹238 crore when compared with a net loss of ₹2,078 crore in 2019-20.
However, profit before tax stood at ₹1,277 crore as against a loss before tax of ₹3,016 crore amidst challenging times with lower product margins and lower demand due to Covid-induced lockdown. But better operational performance together with inventory gains on account of increase in crude & product prices has helped overcome the above challenges, according to a statement.
Sabaretnam is survived by two sons and a daughter. He served in Chettinad Cement Corporation and was Executive Director of the Company for a long period
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