Chennai Petroleum to soon sell petrol and diesel in retail outlets

Indian Oil Corporation’s subsidiary Chennai Petroleum Corporation Ltd has announced that it will soon carry out its retail outlets. The company has been granted in-principle approval from the Ministry of Petroleum and Natural Gas to exercise the Retail Marketing Rights to market Motor Spirit (MS) and High Speed Diesel (HSD), as per the stock exchange filing.

CPCL has a refining capacity of 10.5 million tonnes per annum (mtpa) at its Manali factory in North Chennai, and the entire volume is given to Indian Oil as various products, including petrol, diesel, and LPG, to be sold at retail.

According to Sources, CPCL will soon start selling petrol and diesel in retail outlets and compete with IOCL, HPCL, BPCL and private players like Reliance, Shell and Nayara.

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“We are yet to come up with a roadmap on the number of retail outlets to be set up and the locations,” the sources added.

Meanwhile, Mangalore Refinery and Petrochemicals Ltd (MRPL) had begun its retail marketing operations in 2005 with its first outlet at the Cargo Gate of MRPL. The expansion into retail was facilitated by ONGC, which has broader approval to set up retail outlets. There are now 100 outlets in both Karnataka and Kerala.

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