Chennai Petroleum Corporation (CPCL) has received approval from the Board of Indian Oil Corporation (the Holding Company) for CPCL’s investment proposal for the production of Group-II/III Lube Oil Base Stock (LOBS) at an estimated cost of Rs 1,620 crore.
Earlier, the Board of CPCL in its meeting held on January 18, 2025 had recommended the said investment.
Chennai Petroleum Corporation is in the business of refining crude oil to produce & supply various petroleum products.