Latest news with #CPCL
Business Standard
04-06-2025
- Business
- Business Standard
Chennai Petroleum Corporation re-enters direct fuel retail segment
Earmarks Rs 400 cr for setting up retail outlets The setting up of retail outlets for the sale of petrol and diesel has been initiated by Chennai Petroleum Corporation (CPCL), marking its re-entry into the direct fuel retail segment nearly two decades after its earlier exit. Approval for this initiative has been granted by the Ministry of Petroleum and Natural Gas. An initial capital expenditure of approximately Rs 400 crore has been earmarked for this project over the next two to three years. The first phase of retail outlets is expected to be launched during CPCL's Diamond Jubilee year, with site selection being carried out based on market potential and strategic location analysis. The rollout is being approached cautiously, with further expansion into other states planned based on market response and prevailing conditions. The initiative is aimed at addressing existing market demand and expanding CPCL's presence in the fuel retail segment.
Time of India
04-06-2025
- Automotive
- Time of India
Chennai Petroleum to set up retail fuel outlets; commits ₹400 crore capex
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.
Business Upturn
04-06-2025
- Business
- Business Upturn
Chennai Petroleum to re-enter fuel retail market with Rs 400 crore investment
By Aman Shukla Published on June 4, 2025, 11:28 IST Chennai Petroleum Corporation Limited (CPCL) has announced plans to set up retail fuel outlets for the sale of petrol and diesel, marking its return to the fuel retail segment after nearly 20 years. The initiative has received approval from the Ministry of Petroleum and Natural Gas. CPCL has allocated approximately ₹400 crore as capital expenditure for this project over the next two to three years. The first phase of fuel retail outlets is expected to be launched during the company's Diamond Jubilee year. Site selection for these outlets is currently underway, with decisions based on market potential and strategic location analysis. CPCL is taking a phased and cautious approach, with plans to expand into additional states depending on market response and operational conditions. The move is part of CPCL's strategy to diversify its business operations and strengthen its position in the downstream petroleum sector. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
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Business Standard
03-06-2025
- Automotive
- Business Standard
Chennai Petroleum to set up retail fuel outlets; commits Rs 400 cr capex
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 Rs 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 Rs 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.
Time of India
03-06-2025
- Business
- Time of India
Chennai Petroleum to set up retail fuel outlets; commits ₹400 cr capex
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. PTI
