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HINDPETRO - Hindustan Petroleum News Story

₹310.5 -14.6  -4.5%

Last Trade - 10:29am

Sector
Energy
Size
Large Cap
Market Cap £4.55bn
Enterprise Value £7.95bn
Revenue £32.39bn
Position in Universe 115th / 3188

BUZZ-Indian refiners surge on plans to set up massive EV charging network

Mon 8th November, 2021 8:47am
** Shares of Indian refiners Indian Oil  IOC.NS , Hindustan
Petroleum Corp Ltd  HPCL.NS  and Bharat Petroleum Corp Ltd
 BPCL.NS  rise between 3%-5%
    ** State-run refiners last week announced plans to build
thousands of electric vehicle (EV) charging stations to aid the
country's net zero carbon target by 2070  urn:newsml:reuters.com:*:nL1N2RU10X
    ** IOC, the country's largest fuel retailer and refiner,
will set up 10,000 electric vehicle charging stations in the
next three years 
    ** BPCL will provide EV charging infrastructure at its 7,000
fuel stations in next few years
    ** Globally oil and gas majors have announced plans to
reduce or eliminate emissions by 2050
    ** Businesses in India are seeking government support to
meet a target for at least 65% of all new vehicle sales to be
electric by 2030  urn:newsml:reuters.com:*:nL4N2RA1YO
    ** India has firmed up schemes to incentivise companies to
build EVs and batteries locally to boost supply 

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
1-646-223-8780, Outside U.S. +91 8067496031); Reuters Messaging:
nallur.sethuraman.thomsonreuters.com@reuters.net))
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