|Type||Subsidiary of Oil and Natural Gas Corporation|
|Industry||Oil and Gas|
|Headquarters||Mumbai, Maharashtra, India|
|Pushp Kumar Joshi |
|Revenue||₹352,352 crore (US$44 billion) (2022)|
|₹7,685 crore (US$960 million) (2022)|
|₹5,836 crore (US$730 million) (2022)|
|Total assets||₹154,628 crore (US$19 billion) (2022)|
|Total equity||₹41,404 crore (US$5.2 billion) (2022)|
|Owner||Oil and Natural Gas Corporation (51.11%)|
Number of employees
Hindustan Petroleum Corporation Limited (HPCL) is an Indian oil and gas refining company headquartered in Mumbai. Since 2018, ONGC has owned a majority stake in the company. The company is ranked 367th on the Fortune Global 500 list of the world's biggest corporations as of 2016. On 24 October 2019, the company became a Maharatna PSU.
HPCL was incorporated in 1974 after the takeover and merger of erstwhile Esso Standard and Lube India Limited by the Esso (Acquisition of Undertakings in India) Act 1974. Caltex Oil Refining (India) Ltd. (CORIL) was taken over by the Government of India in 1976 and merged with HPCL in 1978 by the CORIL-HPCL Amalgamation Order 1978. Kosan Gas Company was merged with HPCL in 1979 by the Kosangas Company Acquisition Act 1979.
In 2003, following a petition by the Centre for Public Interest Litigation (CPIL), the Supreme Court of India restrained the Central government from privatizing Hindustan Petroleum and Bharat Petroleum without the approval of Parliament. As counsel for the CPIL, Rajinder Sachar and Prashant Bhushan said that the only way to disinvest in the companies would be to repeal or amend the Acts by which they were nationalized in the 1970s. As a result, the government would need a majority in both houses to push through any privatization.
HPCL has been steadily growing over the years. The refining capacity increased from 5.5 million metric tonnes (MMT) in 1984/85 to 14.80 million metric tonnes as of March 2013. On the financial front, the net income from sales/operations grew from ₹2687 crores in 1984–1985 to ₹2,06,529 crores in the financial year 2012–2013. During FY 2013–14, its net profit was ₹1740 crores.
On 19 July 2017, the Government of India announced the acquisition of the Hindustan Petroleum Corporation by Oil and Natural Gas Corporation. On 1 November 2017, the Union Cabinet approved ONGC for acquiring a majority 51.11% stake in HPCL (Hindustan Petroleum Corporation Limited). On 30 January 2018, Oil & Natural Gas Corporation acquired the entire 51.11% stake of Hindustan Petroleum Corporation, thus becoming the promoter of the company.
HPCL operates two major refineries, producing a wide variety of petroleum fuels and specialties, one in Mumbai (West Coast) with a 7.5 million tonnes per year capacity and the other in Visakhapatnam (East Coast) with a capacity of 8.3 million tonnes per year. HPCL holds an equity stake of 16.95% in Mangalore Refinery and Petrochemicals Limited (MRPL), a state-of-the-art refinery at Mangalore with a capacity of 9 million tonnes per year. Another refinery of 9 million tonnes per year (set up in Bathinda, Punjab by HMEL, a joint venture with Mittal Energy Investments Pte. Ltd). HPCL has signed a memorandum of understanding with the Government of Rajasthan for setting up a refinery near Barmer. It would be operated under a joint venture company (JVC) called HPCL-Rajasthan Refinery Limited.
HPCL also owns and operates the largest lubricant refinery in India producing lube base oils of international standards, with a capacity of 335 TMT. This refinery accounts for over 40% of India's total lube base oil production. Presently HPCL produces over 300+ grades of lubes, specialties, and greases.
The marketing network of HPCL consists of 21 zonal offices in major cities and 128 regional offices facilitated by a supply and distribution infrastructure comprising terminals, aviation service facilities, liquefied petroleum gas (LPG) bottling plants, lube filling plants, inland relay depots, retail outlets (petrol pumps) and LPG and lube distributorships.
HPCL has a state-of-the-art information technology infrastructure to support its core business. The data center is at Hitech city in Hyderabad.
HPCL has several refineries in India. Some are listed below:
Hindustan Petroleum Gas
HPCL is focused on the appraisal and development of hydrocarbon accumulations in the onshore and offshore projects by conducting exploration, development, and production of petroleum and other activities in accordance with its mission. Operating projects are the Hirapur Marginal oil fields of Cambay basin near Gandhinagar (Gujarat) under a service contract with ONGC; and the pre-NELP production sharing contract (PSC) for the Sanganpur (Mehsana) field with M/s Hydrocarbon Development Company (P) Ltd (HDCPL) as Operator.
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