HPCL to get aggressive on refining, retailing.

Hindustan Petroleum Corp Ltd. (HPCL) has launched Vision 2030, a new set of objectives to be achieved over the next 15 years.

While this will include aggressive numbers for refining capacity, retail outlets and pipelines, there will also be an added focus on renewable energy options keeping in mind environment regulations in the future.

Vision 2030 is the brainchild of S Roy Choudhury, Chairman and Managing Director, who retires at the end of this month. The idea is to ensure that HPCL stays ahead of the curve in a competitive environment, where private players such as Reliance Industries, Essar and Shell will also be part of the fuel retail arena.

It is perhaps keeping this in mind that the company has roped in international consultant McKinsey to study and recommend better integration of its operations right from refining to marketing. At present, these are largely silo functions, but going forward, greater synergies will become imperative for front and back-end operations. The savings on costs are expected to be 'quite substantial' as a result.


HBL