Hindustan Petroleum Corporation (HPCL) is reportedly planning to tie up with Reliance Industries (RIL) to expand its oil retailing business. With retail diesel prices inching towards market rates, and petrol already de-regulated, the company is now reviewing its business strategies. Through this tie up, HPCL can expand its retailing operations, while Reliance Industries can reduce its risks. Currently, the company is the second-largest retailer in the country and a deal with RIL will strengthen its position further.
HPCL operates two major refineries producing a wide variety of petroleum fuels and specialties, one in Mumbai (west coast) of 6.5 million metric tonnes per annum (MMTPA) capacity and the other in Vishakapatnam, (east coast) with a capacity of 7.5 MMTPA.
