HPCL chief says innovation and startups will shape India's next refining phase
HPCL chairman Vikas Kaushal says innovation, digital tools and startup partnerships will matter as India's refiners cope with supply strain and capacity growth.
- published on Newsmetry
- original source published
the same feed is available to bots and dashboards through the api. connect the api →
what happened
Speaking to ANI on Wednesday, Vikas Kaushal, who leads Hindustan Petroleum Corporation Ltd (HPCL), argued that India's refiners will need fresh thinking, digital tools and ties with young companies to handle supply shocks and a larger refining base. He made the remarks at the 29th Energy Technology Meet (ETM) 2026, according to a report published by Moody's.
The event has widened its agenda to take in compressed biogas (CBG) and support for startups, and it serves as a forum for the downstream oil industry in India. Kaushal pointed to the Govardhan scheme and MC Square, an innovation platform now mentoring roughly 43-45 participants, with several startups showing their solutions at the show.
Among HPCL's achievements, he cited a residue upgrading unit at its Visakhapatnam refinery, commissioned early this year, which turns heavy bottoms into diesel and lighter products at a 93% conversion rate. HPCL's new greenfield refinery, opened by Prime Minister Narendra Modi on July 4, has a complexity index of about 17, which Kaushal said ranks just behind Reliance Industries.
why it matters
For markets, this is mainly a company-level update rather than a price signal. Still, the comments show HPCL expanding diesel output from heavy residues and building complex refining capacity, which matters to investors following Indian downstream names. The report does not include any financial figures for the company.
tags
instruments
sources
- Innovation, startups key to next phase of India's refining sector: HPCL CMD Vikas Kaushal — Moody's, 28 October 2026 at 09:34 UTC
- Innovation, startups key to next phase of India's refining sector: HPCL CMD Vikas Kaushal — Moody's, 28 October 2026 at 10:39 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
alerts on your topics, the morning digest and the api — in your account.
get stories in real time ↗