Page 148 - CW E-Magazine (31-10-2023)

Hydrocarbons

WIDENING PRODUCT PORTFOLIO

Gulf Oil and S-OIL SEVEN team to launch premium

range of lubricants

Gulf Oil Lubricants India Ltd., a sive rights to manufacture and distribute cessful collaboration with S-OIL is a pio-
Hinduja Group company, and a premier the globally acclaimed S-OIL SEVEN neering milestone as it marks the fi rst time
Indian lubricant manufacturer, has taken a range throughout its extensive network, an S-OIL product is being manufactured
signifi cant stride in enhancing its product actively bolstering the brand’s reach and beyond the borders of South Korea. This
portfolio for the Indian market by unveil- resonance within the Indian market. achievement brings advanced Korean tech-
ing the globally acclaimed S-OIL SEVEN nology to the forefront of Indian production
range through a strategic collaboration. This marks the maiden venture where an capabilities, elevating industry standards.
S-OIL product line is being produced out- We are immensely delighted that the global
In this partnership, Gulf Oil will side South Korea. The S-OIL SEVEN range partnership between S-Oil and KIA Motors
oversee the production, distribution, and encompasses a spectrum of fully-synthetic, India has materialized in India through our
promotion of premium OEM like KIA semi-synthetic and premium lubricants, har- collaboration. We are determined to main-
India dealer network. The comprehen- nessing the exceptional attributes such as tain the elevated standards that have been
sive product line-up features a variety of very high viscosity index within the Group established on a global scale and strive to
passenger car gasoline engine oil vari- II/III class base oil. This exceptional range exceed expectations at every step of the
ants and a passenger car diesel engine oil assures elevated technical performance and way,” said Mr. Ravi Chawla, MD and CEO,
variant. Furthermore, Gulf has the exclu- an enriched driving experience. “Our suc- Gulf Oil Lubricants India.

ENERGY SERVICES
PTC India approves ONGC’s bid to buy PTC Energy

for Rs. 925-crore

PTC India has approved ONGC’s bid from PTC India to the stock exchanges said. come rose to Rs. 4,863.46-crore in the quar-
to acquire its subsidiary PTC Energy Ltd. The company added that the acquisition is ter under review, from Rs. 4,310.74-crore
for Rs. 925-crore. subject to shareholders’ approval of PTC in the same period a year ago. PTC India’s
India Ltd. as per applicable regulations. The subsidiary, PTC Energy, was formed in
“PTC India in its Board Meeting held power trading solutions provider posted a 2008 to develop an asset base and included
on 19 October has approved the bid submit- 5.62% year-on-year rise in its consolidated the business of import and export of coal,
ted by ONGC Ltd. for the acquisition of a net profi t at Rs. 142.70-crore for the April- power generation, supply, and distribution
wholly-owned subsidiary of PTC India Ltd., June quarter in FY2024 on the back of of power. The company has commissioned
PTC Energy Ltd. (PEL) at an equity value higher revenues. The consolidated net profi t wind projects of 288.8-MW capacity,
of Rs. 925-crore subject to adjustments in of the company stood at Rs. 135.10-crore in spread across Andhra Pradesh, Karnataka,
bid value as per the bid format, a statement the quarter ended on June 30, 2022. Total in- and Madhya Pradesh.
CPCB fi nes IOC, BPCL for not installing pollution

control devices at their petrol pumps
The Central Pollution Control Board When a vehicle is refi lled at a fuel sta- on the operation and other activities of the
(CPCB) has fi ned state-owned Indian Oil tion, petrol vapour tends to dissipate into company. However, the fi nancial implica-
Corporation (IOC) and Bharat Petroleum the atmosphere. The vapour contains can- tion would be limited to a compensation
Corporation Ltd. (BPCL) for not installing cer-causing substances like benzene, tolu- amount of Rs. 1-crore,” IOC said. BPCL
pollution control devices at their petrol ene and xylene. Petrol pumps were in 2016 said it is “examining the notice and would
pumps. IOC has been fi ned Rs. 1-crore ordered to install vapour recovery system be giving appropriate reply requesting the
and BPCL Rs. 2-crore, the two fi rms said (VRS) at fuel stations to prevent petrol CPCB not to proceed further and discharge
in separate stock exchange fi lings. vapours from escaping. “There is no impact the company from the notice.”

148 Chemical Weekly October 31, 2023

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