NEW DELHI - Indian state-run refiner Hindustan Petroleum Corp (HPCL.BO: Quote, Profile, Research, Stock Buzz) sold special oil bonds worth 2.05 billion rupees ($41.2 million) to the central bank on Thursday, a company official said.
The bonds were sold under the central bank's special market operations facility which allows refiners to exchange their oil bonds for foreign exchange.
In the past 7 to 10 days, the refiner has sold about 6 billion rupees worth of oil bonds through the facility, said Bhaswar Mukherjee, HPCL's director of finance.
State-run oil firms receive the special bonds from the government as part compensation for losses caused by selling fuel at government-set prices.
The bonds were sold under the central bank's special market operations facility which allows refiners to exchange their oil bonds for foreign exchange.
In the past 7 to 10 days, the refiner has sold about 6 billion rupees worth of oil bonds through the facility, said Bhaswar Mukherjee, HPCL's director of finance.
State-run oil firms receive the special bonds from the government as part compensation for losses caused by selling fuel at government-set prices.
