Hindustan Oil Exploration Company Announces Conciliation of Disputes Over Crude Oil Supply to HPCL
Hindustan Oil Exploration Company Limited announced an update regarding the supply of crude oil from the B-80 field to Hindustan Petroleum Corporation Limited (HPCL). The company reported that the parties involved have reached an agreement to resolve the disputes arising from the transaction.As part of this resolution, the parties have agreed to refer the disputes for conciliation before a reputed former Chief Justice of High Court.
The company confirmed that, pursuant to this agreed arrangement, the original invoice that had been raised by the company on HPCL has been cancelled. Following the cancellation, Hindustan Oil Exploration Company Limited has also initiated the process to dispose of the crude oil.
HINDOILEXP Stock Price Movement
Shares of Hindustan Oil Exploration Company Limited are rallying to ₹172.2 as of 11:56 AM, climbing 1.78% in live trading. The strong movement is supported by significant volume, with the stock trading 1.67 million shares today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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