CPCL to launch retail outlets, lubricants across India

CHENNAI: The only oil refinery in TN, Chennai Petroleum Corporation Limited, is gearing up to open its own retail fuel outlets across the country to mark its diamond jubilee year and also planned to launch lubricants for specific industries.

The CPCL is venturing into the business of retail outlets and selling lubricants after 25 years after getting approval from the Union ministry to process grade 2 and 3 lube oils.

“It’s a big milestone for CPCL as we are at our 60th year of inception,” said H Shankar, MD of the refinery. “There is enough scope for both petrol and diesel markets here. We’ll not eat into others’ demand. The CPCL will run the outlet its own brand and logo, and not be attached with IOCL outlets.”

CPCL is part of the Indian Oil Corporation Limited (IOCL) supplying 92% of its products to the parent company. The remaining that are marketed to other industries include paraffin wax, solvents in food and pharma industries (food grade hexane and pharma grade hexane) and mineral turpentine oil for paint industries. “Other petrol-related components such as JP 5, JP 7 and Isrosene are used by the defense sector, which is an honour for us,” he added. “We’re mulling over expansion and strategic plans of establishing a group 2 and group 3 lube oil specific industry. We expect this will double our lube oil production.”