Hindustan Petroleum Corporation Ltd (HPCL) on Thursday said that it has signed a pact with Bharat Petroleum Corporation Ltd (BPCL) for synergy in the purchase and sale of hydrogen between the refineries the two firms operate in Mumbai. Hydrogen is an essential utility required for treating diesel and petrol to produce low-emission fuel of Euro-VI or Bharat Stage VI specifications, and is vital for reliable and safe refinery operations.
According to a statement from the company, “a Memorandum of Understanding (MoU) was inked between HPCL Mumbai refinery and BPCL Mumbai refinery as part of synergy through purchase and sale of hydrogen.”
The two oil marketing organisations’ unique strategic alliance is a part of a larger effort to reduce environmental effect and mutually assist in times of need by minimising valuable hydrogen flaring, according to the statement. For continued refinery operations and ongoing product supply, this project “envisages cooperation and collaboration as part of synergy in the areas of hydrogen exchange between both refineries.”
The executive directors of the HPCL and BPCL refineries in Mumbai, Vijay S. Agashe and Subramoni Iyer, respectively, signed the Memorandum of Understanding.
