State-run oil marketing firm Hindustan Petroleum Corporation (HPCL) is reportedly planning to invest Rs 600-700 crore for establishing its second underground liquefied petroleum gas (LPG) storage facility in Mangalore. The company could appoint its partner, Total SA of France, to build the cavern.
Among the three oil marketing companies (OMCs), IndianOil Corp holds 48 per cent of LPG market share, while Bharat Petroleum Corporation and HPCL’s market share stand at 26 per cent each.