HPCL Strikes 10-Year LNG Deal with ADNOC Gas, Vizag Refinery Upgraded

• HPCL and ADNOC Gas signed a 10-year agreement for 0.5 mmtpa LNG supply starting 2028, a milestone for India's energy sector.
• The long-term deal is expected to stabilize HPCL's input costs, protecting it from international gas price fluctuations and boosting future profits.
• HPCL commissioned the world's first Residue Upgradation Facility (RUF) at its Visakhapatnam (Vizag) refinery, converting 93% waste heavy oil into high-value products.
• The RUF upgrade is projected to increase HPCL's Gross Refining Margins (GRM) by over $2.5 per barrel, enhancing profitability and reducing external sourcing dependence.
• HPCL shares closed at ₹453.20 on NSE, near its 52-week high of ₹508.45, with experts anticipating strong Q3 results and target prices up to ₹610.

Why It Matters: HPCL secures a major LNG deal and refinery upgrade, signaling strong growth and investor confidence.