Hindustan Petroleum Corporation (HPCL) has reportedly won an arbitration award of Rs 806 crore against Malaysia’s M3nergy Berhad.
The state-run oil marketing company had initiated arbitration proceeding against M3nergy in 2009 over termination of an exploration contract ONGC had awarded to a consortium of HPCL, M3nergy and Prize Petroleum for development of some offshore fields off Mumbai.
HPCL is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. It has about 25% marketing share in India among PSUs and a strong marketing infrastructure.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1435.70 |
| Indian Oil Corp. | 144.70 |
| BPCL | 302.85 |
| HPCL | 387.00 |
| MRPL | 167.90 |
| View more.. | |
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