Hindustan Petroleum Corporation Limited (HPCL) and Oil India Limited (OIL) have signed a strategic Memorandum of Understanding at India Energy Week 2026 to collaborate on developing a Compressed Bio-Gas (CBG) project. The partnership was announced through a regulatory filing under SEBI Regulation 30 on January 29, 2026.

Strategic Partnership Framework

The MoU establishes a comprehensive framework for joint efforts between the two public sector undertakings, focusing on promoting cleaner and more sustainable energy solutions. This collaboration combines HPCL's technological expertise with OIL's operational capabilities to advance India's bio-energy sector.

Technology and Implementation

Under the partnership agreement, OIL will implement the CBG plant using HPCL's indigenously developed HP RAMP technology. HPCL will provide the requisite technology to enable efficient conversion of waste materials into compressed bio-gas, while OIL will leverage its operational expertise for successful project implementation.

The HP RAMP technology represents a significant advancement in indigenous waste-to-energy solutions, demonstrating the capabilities of Indian public sector enterprises in developing cutting-edge clean energy technologies.

Strategic Objectives and Impact

The MoU highlights both companies' commitment to clean energy and waste-to-energy initiatives. The collaboration aligns with several key national objectives:

• Circular Economy Promotion: Supporting waste-to-energy conversion processes
• Carbon Emission Reduction: Contributing to India's environmental goals
• Domestic Bio-Energy Ecosystem: Strengthening indigenous technological capabilities
• Energy Transition: Supporting India's shift toward sustainable energy sources

Regulatory Compliance

The partnership announcement was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Rakesh Kumar Singh, Company Secretary of HPCL, ensuring full regulatory compliance and transparency for stakeholders.

This strategic collaboration represents a significant step forward in India's bio-energy sector, combining the strengths of two major public sector undertakings to advance sustainable energy solutions through indigenous technology development.

Hindustan Petroleum Corporation Limited has issued a formal clarification to stock exchanges regarding media reports about Venezuelan crude oil procurement. The company responded to queries from BSE Limited and National Stock Exchange of India Limited dated January 28, 2026, seeking clarification on a news article titled "HPCL seeks Venezuelan crude to boost heavy oil runs".

Company's Official Response

In its communication dated January 29, 2026, HPCL provided a comprehensive response addressing the media reports:

Stock Movement Attribution

The company addressed concerns about potential stock price movements related to the media reports. HPCL stated that any movement in the trading of the company's scrip is purely market driven and may be attributed to general market conditions and investor sentiment rather than any undisclosed corporate developments.

Regulatory Compliance

HPCL emphasized its commitment to transparency and regulatory compliance. The company confirmed that there are no regulatory or legal proceedings in the context of Venezuelan crude oil procurement. Additionally, HPCL stated there is no material impact of the media article on the company's operations or business.

Exchange Communication

The clarification was submitted to both major Indian stock exchanges where HPCL shares are traded. The company's response was signed by Rakesh Kumar Singh, Company Secretary, and digitally authenticated on January 29, 2026. This formal communication ensures that all stakeholders have accurate information regarding the company's position on the reported Venezuelan crude oil procurement activities.