MOSCOW (MRC) -- R Kesavan takes over as HPCL's Finance Director Mumbai (Maharashtra): R Kesavan on Thursday took over as the Finance Director at Hindustan Petroleum Corporation Ltd (HPCL), as per EnergyWorld.
He is also the Chief Financial Officer at the government-owned oil and natural gas company, according to a statement.
Kesavan was earlier Executive Director of HPCL's Corporate Finance division for over four years. He is a fellow member of the Institute of Chartered Accountants of India (ICAI).
Kesavan brings with him three decades of experience in corporate accounts, audit, treasury management, risk management, budgeting, pricing, corporate strategy and margin management.
As MRC reported before, in August 2018, L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of engineering giant Larsen & Toubro, announced it had won an onshore Engineering Procurement and Construction (EPC) contract from HPCL-Mittal Energy (HMEL), a joint venture between Hindustan Petroleum Corporation Limited and Mittal Energy Investment. Under the contract, LTHE would set up seven cracker furnaces at the Bathinda refinery in Punjab. The order for setting up the furnaces of 1,200 kilo-tonne per annum (KTPA) dual-feed cracker unit is part of HPCL-Mittal Energy's Guru Gobind Singh Polymer Addition project.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polyprolypele (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,255,800 tonnes in the first seven months of 2019, up by 9% year on year. Shipments of all PE grades increased. At the same time, the estimated PP consumption in the Russian market was 796,120 tonnes in January-July 2019, up by 11% year on year. Shipments of PP block copolymer and homopolymer PP increased.
Hindustan Petroleum Corporation Limited (HPCL) is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra and with Navratna status. HPCL has about 25% marketing share in India among PSUs and a strong marketing infrastructure. The Government of India owns 51.11% shares in HPCL and others are distributed amongst financial institutes, public and other investors.
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