CPCL shuts refinery

NEW DELHI: Chennai Petroleum Corp Ltd (CPCL) shut its 210,000 barrels per day (bpd) Manali refinery on Wednesday night due to heavy flooding in southern state of Tamil Nadu, sending its shares down as much as five per cent to a week-low. The state-run company, a unit of the country’s biggest refiner Indian Oil Corp, is the main fuel supplier to the city of Chennai that has been submerged by the strongest spell of rain in more than a century. The company’s smaller 20,000 bpd Nagapattinam refinery was, however, operating normally. CPCL’s shares were down four per cent at INR 194 in afternoon trade on Thursday. They earlier hit a low of INR 191.60. India’s weather office has predicted more rains in Tamil Nadu this week, which could prolong Manali refinery shutdown and disrupt fuel supplies.