Chennai Petro says TNPCB asks to cut down production

9 Aug 2022 , 11:38 AM

In line with the advice of TNPCB, the production has been reduced on a temporary basis, Chennai Petroleum Corporation said in a statement on 8 August 2022. Management is confident of resolving this issue at the earliest, it added. The media reported that the TNPCB direction follows the complaints from the public residing in the Tiruvottiyur area in North Chennai about odour nuisance. Following the complaints, the TNPCB had inspected the area three times last month. CPCL is Tamil Nadus only crude oil refinery and supplies value-added petroleum products. According to the media reports, the pollution control board has directed CPCL to furnish details of its daily crude oil consumption to ensure maximum output at the sulphur recovery unit (SRU) and to furnish the quantity of sulphur recovered in the plants. CPCL, one of the leading group companies of Indian Oil corporation, is one of the most complex refineries of its kind in the country, producing an array of value-added petroleum products. The Manali Refinery located at North Chennai has a capacity of 10.5 MMTPA. The main products of the refinery are LPG, Motor Spirit, Superior Kerosene, Aviation Turbine Fuel, High Speed Diesel, Naphtha, Bitumen, Lube Base Stocks, Paraffin Wax, Fuel Oil, Hexane and Petrochemical feed stocks. Manali Refinery plays vital role of a mother industry supplying feedstocks to the neighboring industries located in Manali, Chennai. As on 30 June 2022, Indian Oil Corporation held 51.89% stake in CPCL. CPCLs standalone net profit surged to Rs 2,358.79 crore in Q1 FY23 as against Rs 53.73 core in Q1 FY22. Net sales surged to 183.6% to Rs 23,162.55 crore in Q1 June 2022 as against Rs 8,166.46 crore recorded during the same period in the previous year. Shares of CPCL fell 1.93% to Rs 264.10 on Monday, 8 August 2022. Powered by Capital Market – Live News