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.

Hindustan Petroleum Corporation Limited (HPCL) has issued a regulatory clarification regarding its recent Memorandum of Understanding with Castrol India Limited, emphasizing the non-binding nature of the agreement and its limited immediate impact on company operations.

MoU Details and Framework

The clarification, filed with stock exchanges on January 28, 2026, addresses media reports about HPCL's partnership with Castrol India for developing a re-refined base oil ecosystem in India. The company provided specific details about the nature of this arrangement:

Company's Position on Market Impact

HPCL addressed concerns about potential market implications of the MoU, providing clear statements on its assessment of the agreement's significance. The company emphasized that the arrangement merely creates a framework for future discussions between the two organizations to explore possible areas of collaboration.

The oil marketing company specifically stated that there is no information or announcement that may have a bearing on the movement in trading of its scrips. Additionally, HPCL clarified that the news article does not relate to any regulatory or legal proceedings and has no material impact on the company.

Stock Exchange Response

The clarification was issued in response to queries from BSE Limited and National Stock Exchange of India Limited, following media reports published on January 27, 2026. The stock exchanges had sought clarification from the company regarding the news article that appeared on financial media platforms.

HPCL attributed any increase or movement in share price to market conditions, describing such movements as purely market-driven rather than related to the MoU announcement.

Regulatory Compliance

The clarification was filed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed companies to disclose material events and information that could impact investor decisions. The document was signed by Company Secretary Rakesh Kumar Singh and submitted to both major stock exchanges for investor information and records.