Disclosure made under Regulation 30 of SEBI (LODR) Regulations, 2015
HINDOILEXP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hindustan Oil Exploration Company has disclosed a commercial dispute with Hindustan Petroleum Corporation Limited (HPCL) related to crude oil supply from the B-80 field. The two parties have agreed to resolve their disputes through conciliation before a former Chief Justice of a High Court. As part of this arrangement, the original invoice raised by HOEC on HPCL has been cancelled. The company is now initiating the process to dispose of the crude oil through alternative channels. This filing is an update to an earlier disclosure made about the HPCL crude oil supply arrangement.
The dispute with a major customer like HPCL and cancellation of the invoice could impact the company's revenue realization and receivables. The stock may face short-term uncertainty until the dispute is resolved through conciliation.