Close Menu
  • Home
  • Market News
    • Crude Oil Prices
    • Brent vs WTI
    • Futures & Trading
    • OPEC Announcements
  • Company & Corporate
    • Mergers & Acquisitions
    • Earnings Reports
    • Executive Moves
    • ESG & Sustainability
  • Geopolitical & Global
    • Middle East
    • North America
    • Europe & Russia
    • Asia & China
    • Latin America
  • Supply & Disruption
    • Pipeline Disruptions
    • Refinery Outages
    • Weather Events (hurricanes, floods)
    • Labor Strikes & Protest Movements
  • Policy & Regulation
    • U.S. Energy Policy
    • EU Carbon Targets
    • Emissions Regulations
    • International Trade & Sanctions
  • Tech
    • Energy Transition
    • Hydrogen & LNG
    • Carbon Capture
    • Battery / Storage Tech
  • ESG
    • Climate Commitments
    • Greenwashing News
    • Net-Zero Tracking
    • Institutional Divestments
  • Financial
    • Interest Rates Impact on Oil
    • Inflation + Demand
    • Oil & Stock Correlation
    • Investor Sentiment

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

DeepWho? If You Missed DeepSeek’s Latest AI Launch, You’re Not Alone.

June 6, 2025

Spain halts oil imports from Venezuela as U.S. sanctions come into effect – Oil & Gas 360

June 6, 2025

Silver Just Hit A 13-Year High – Is $50 Next?

June 6, 2025
Facebook X (Twitter) Instagram Threads
Oil Market Cap – Global Oil & Energy News, Data & Analysis
  • Home
  • Market News
    • Crude Oil Prices
    • Brent vs WTI
    • Futures & Trading
    • OPEC Announcements
  • Company & Corporate
    • Mergers & Acquisitions
    • Earnings Reports
    • Executive Moves
    • ESG & Sustainability
  • Geopolitical & Global
    • Middle East
    • North America
    • Europe & Russia
    • Asia & China
    • Latin America
  • Supply & Disruption
    • Pipeline Disruptions
    • Refinery Outages
    • Weather Events (hurricanes, floods)
    • Labor Strikes & Protest Movements
  • Policy & Regulation
    • U.S. Energy Policy
    • EU Carbon Targets
    • Emissions Regulations
    • International Trade & Sanctions
  • Tech
    • Energy Transition
    • Hydrogen & LNG
    • Carbon Capture
    • Battery / Storage Tech
  • ESG
    • Climate Commitments
    • Greenwashing News
    • Net-Zero Tracking
    • Institutional Divestments
  • Financial
    • Interest Rates Impact on Oil
    • Inflation + Demand
    • Oil & Stock Correlation
    • Investor Sentiment
Oil Market Cap – Global Oil & Energy News, Data & Analysis
Home » Chennai Petroleum to set up retail fuel outlets; commits ₹400 crore capex, ET EnergyWorld
Oil & Stock Correlation

Chennai Petroleum to set up retail fuel outlets; commits ₹400 crore capex, ET EnergyWorld

omc_adminBy omc_adminJune 4, 2025No Comments3 Mins Read
Share
Facebook Twitter Pinterest Threads Bluesky Copy Link


IndianOil Group company Chennai Petroleum Corporation Ltd coinciding with its Diamond Jubilee year has embarked on a journey to set up retail outlets to sell petrol and diesel, a top official said on Tuesday.

The company, which has been producing fuel at its refineries located near the city, has earmarked ₹400 crore as capital expansion towards this cause.

“We are embarking on a journey to set up retail outlets. Long back about 20 years back, CPCL had one standalone outlet in Sriperumbudur. Now, we are again venturing into this strategic growth path. So this is one exciting journey we are taking now. We want to see that during this Diamond Jubilee year, we will be able to establish some diamond jubilee outlets that is a target we are working on,” CPCL Managing Director H Shankar told reporters.

Declining to elaborate on the number of outlets planned initially, he said during the Diamond Jubilee celebrations the company would be in a position to launch the first round of retail outlets.

“Retail outlets will sell petrol and diesel. We got the approval from the Ministry (Ministry of Petroleum and Natural Gas) to set up the retail outlets. So, we are going to move in that direction,” he said.

Responding to a query, he said, “it is a startup for us (To establish a retail outlet). We just want to roll out during the Diamond Jubilee year, see how the market reacts. We have set aside a minimum capex (capital expenditure) for that about ₹400 crore over a period of 2-3 years.”

“If the same excitement is reciprocated from the market, then the roll out of outlets will be much faster and bigger.” he said.

Shankar said the expansion of the retail outlets would be gradually expanded into other States based on the prevailing market conditions. “We want to spread slowly not that we will do only in Tamil Nadu, we want to go all over (India). We will go in a careful way. It is a journey where it all depends on the market conditions.”

According to Shankar, the company had initially set up its first retail outlet in Sriperumbudur near Chennai in 2002 but it was closed as the marketing of fuel products was given to the parent company IndianOil and it was decided that CPCL will be a standalone refinery company.

Asked whether establishing CPCL owned retail outlets would eat into the revenues of IndianOil, he replied that there was enough scope for petrol and diesel market in India and fuel outlets by CPCL would be decided based on the ‘market potential’.

“So, whenever we advertise in the press, we have to see where we are going to set up what is the potential available. We have to see what are the sites available, what are the market potential and then only Letter of Intent will be given.”

“If there are already established players in and around, there is no point in setting up. So, we need to be very judicious about site selection also. That is what we are now working on,” he said.

Published On Jun 4, 2025 at 01:48 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Newsletter icon

Download ETEnergyworld App

Get Realtime updates
Save your favourite articles

Scan to download App




Source link

Share. Facebook Twitter Pinterest Bluesky Threads Tumblr Telegram Email
omc_admin
  • Website

Related Posts

13 R&D/demo plants in progress; PSU refineries to float 128 more tenders, ET EnergyWorld

June 6, 2025

GAIL Launches All-Weather Operations at Dabhol LNG Terminal with Capacity Expansion Plans, ET EnergyWorld

June 6, 2025

Refiners Reliance and Nayara tap India’s drivers as export markets tighten, ET EnergyWorld

June 6, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Trump’s 100 days, AI bubble, volatility: Market Takeaways

December 16, 20072 Views

Permian Basin growth fuels ExxonMobil’s quarterly success – Oil & Gas 360

May 2, 20251 Views

Spain halts oil imports from Venezuela as U.S. sanctions come into effect – Oil & Gas 360

June 6, 20250 Views
Don't Miss

Vermilion Energy exits U.S. market with $88 million asset sale

By omc_adminJune 6, 2025

Vermilion Energy Inc. has entered into a definitive agreement for the sale of its U.S.…

USA Targets Niche Gas That China Can’t Replace as Trade War Chip

June 6, 2025

Global SAF Alliance Formed to Deliver End-to-End Waste-to-Fuel Solution

June 6, 2025

Aircapture Secures $50M to Scale Modular CO₂ Capture Systems with Immediate Commercial Impact

June 6, 2025
Top Trending

Bain, Terralytiq Partner to Provide Supply Chain Decarbonization Solutions

By omc_adminJune 6, 2025

Macquarie, BCI Acquire Waste-to-Product Recycling Company Renewi

By omc_adminJune 6, 2025

Labour warned to keep spending review in line with net zero or face legal action | Green politics

By omc_adminJune 6, 2025
Most Popular

The 5 Best Soundbars of 2025

May 6, 20251 Views

Energy Department Lifts Regulations on Miscellaneous Gas Products

May 2, 20251 Views

DeepWho? If You Missed DeepSeek’s Latest AI Launch, You’re Not Alone.

June 6, 20250 Views
Our Picks

Vermilion Energy exits U.S. market with $88 million asset sale

June 6, 2025

Alaska LNG Attracts Potential Partners in Asia, EU

June 6, 2025

EIA Fuel Update Shows Declining USA Gasoline, Diesel Price

June 6, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Facebook X (Twitter) Instagram Pinterest
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
© 2025 oilmarketcap. Designed by oilmarketcap.

Type above and press Enter to search. Press Esc to cancel.