Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) have signed a Memorandum of Understanding (MoU) for synergy in the purchase and sale of hydrogen between the refineries they operate in Mumbai.
This one-of-a-kind strategic partnership between the two oil marketing companies is aimed at ensuring sustained refinery operations and uninterrupted product availability while minimizing valuable hydrogen flaring.
Importance of Hydrogen in Refinery Operations
Hydrogen is an essential utility required for the treatment of diesel and petrol to produce low-emission fuel of Euro-VI or Bharat Stage VI specifications. It is also vital for reliable and safe refinery operations.
Benefits of the MoU
The MoU was signed as part of synergy through the purchase and sale of hydrogen. It envisages cooperation and collaboration in the areas of hydrogen exchange between refineries. The partnership will enable mutual aid during emergencies and contribute towards environmental impact by minimizing valuable hydrogen flaring.
Signatories of the MoU
The MoU was signed by Vijay S Agashe, Executive Director of HPCL Mumbai refinery, and Subramoni Iyer, Executive Director of BPCL Mumbai Refinery.