November 9, 2017 / 10:42 AM / 2 months ago

BRIEF-India's HPCL says govt wants profit-making state-run firms to pay higher dividend in FY18

Nov 9 (Reuters) - Hindustan Petroleum Corp Ltd chief executive Mukesh Kumar Surana and Director-Refineries Vinod S. Shenoy at a press conference:

* July to Sept GRM at $7.61 per barrel versus $3.23 a bbl year ago‍​

* Co posted inventory gain of 7.92 billion rupees in Sept quarter versus inventory loss of 5.5 billion rupees year ago

* Co sees $65/bbl still a barrier to cross for global oil price

* Co expects global oil prices to trade between $58-$65 a bbl

* Co aims to build 180,000 BPD Rajasthan refinery by 2022

* Government indicated that profit-making state-run cos should pay higher dividend in FY18

* Co sees local diesel demand rising 4-5 percent in FY18

* Rajasthan refinery to produce euro VI compliant fuel

* Rajasthan refinery will be a diesel-oriented plant

* Rajasthan refinery and petchem project to cost 400 billion rupees

* Co has shut 1 CDU at Vizag refinery since early Nov for four weeks Further company coverage: (Reporting by Nidhi Verma in New Delhi)

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