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Hindustan Petroleum Corporation Limited
TypeSubsidiary of Oil and Natural Gas Corporation
ISININE094A01015
IndustryOil and Gas
Founded1974; 48 years ago (1974)
HeadquartersMumbai, Maharashtra, India
Key people
Pushp Kumar Joshi
(CMD)[1]
ProductsPetroleum
Natural gas
LNG
Lubricants
Petrochemicals
RevenueIncrease 352,352 crore (US$44 billion) (2022)[2]
Decrease 7,685 crore (US$960 million) (2022)[2]
Decrease 5,836 crore (US$730 million) (2022)[2]
Total assetsIncrease 154,628 crore (US$19 billion) (2022)[2]
Total equityIncrease 41,404 crore (US$5.2 billion) (2022)[2]
OwnerOil and Natural Gas Corporation (51.11%)[3]
Number of employees
10,352 (2020)[2]
Websitewww.hindustanpetroleum.com Edit this at Wikidata

Hindustan Petroleum Corporation Limited (HPCL) is an Indian oil and gas refining company headquartered in Mumbai.[4][5][6] Since 2018, ONGC has owned a majority stake in the company.[3] The company is ranked 367th on the Fortune Global 500 list of the world's biggest corporations as of 2016.[7] On 24 October 2019, the company became a Maharatna PSU.[8]

History

A view of HPCL from Yarada Hill, Visakhapatnam
A view of HPCL from Yarada Hill, Visakhapatnam

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.[9]

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.

Merger and acquisition

On 19 July 2017, the Government of India announced the acquisition of the Hindustan Petroleum Corporation by Oil and Natural Gas Corporation.[10] 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.[3]

Operations

Hindustan Petroleum fuel pump near town hall, Coimbatore
Hindustan Petroleum fuel pump near town hall, Coimbatore
Hindustan Petroleum petrol bunk at Basaveshwaranagar, Bangalore
Hindustan Petroleum petrol bunk at Basaveshwaranagar, Bangalore

HPCL operates two major refineries,[11] 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.[12] 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,[13] 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.[14]

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[15] 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.

Products

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An HP petrol pump in Khammam
An HP petrol pump in Khammam
HP cooking gas delivery vehicle
HP cooking gas delivery vehicle

Refineries

HP oil refinery in Visakhapatnam
HP oil refinery in Visakhapatnam

HPCL has several refineries in India. Some are listed below:

International rankings

Major facilities

Scindia road near HPCL
Scindia road near HPCL

Major ongoing projects

Subsidiaries

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.

See also

References

  1. ^ Limited, Hindustan Petroleum Corporation. "Bod".
  2. ^ a b c d e f "HPCL Annual Report 2020". CNBC TV18. Retrieved 23 July 2019.((cite web)): CS1 maint: url-status (link)
  3. ^ a b c "ONGC buys govt's entire 51.11% stake in HPCL for Rs 36,915 crore". The Economic Times. Archived from the original on 18 June 2018. Retrieved 10 October 2018.
  4. ^ "Latest Shareholding Pattern - Hindustan Petroleum Corporation Ltd". trendlyne.com. Retrieved 29 July 2020.
  5. ^ "Sustainability report 2013-14" (PDF). 2014. p. 7. Archived (PDF) from the original on 17 March 2015. Retrieved 13 May 2015.
  6. ^ "List of Maharatna, Navratna and Miniratna CPSEs |". Archived from the original on 19 July 2013. Retrieved 28 July 2013.
  7. ^ "Fortune Global 500 list". CNN Money. Archived from the original on 21 August 2016. Retrieved 22 July 2016.
  8. ^ "Govt accords 'Maharatna' status to Hindustan Petroleum, Power Grid Corp". Business Standard India. Press Trust of India. 23 October 2019. Retrieved 2 August 2020.
  9. ^ Gopal Ganesh (2008). Privatisation And Labour Restructuring. Academic Foundation. p. 136. ISBN 978-8171886340.
  10. ^ "Cabinet allows ONGC to buy out govt stake in refiner HPCL". hindustantimes.com. 19 July 2017. Archived from the original on 12 February 2018. Retrieved 7 April 2018.
  11. ^ "Hindustan Petroleum Corporation Limited Relies on Oracle Database Security Solutions" (PDF). /www.indiaprwire.com. Archived from the original (PDF) on 26 September 2013. Retrieved 26 July 2010.
  12. ^ "IBM News room - 2008-09-04 HPCL Partners With IBM to Deploy a Path-Breaking RFID Solution - United States". 03.ibm.com. 4 September 2008. Archived from the original on 11 October 2011. Retrieved 9 November 2012.
  13. ^ http://www.hmel.in Archived 24 June 2013 at the Wayback Machine HMEL
  14. ^ a b "HPCL to set up new Refinery in Barmer Rajasthan". Archived from the original on 17 October 2013. Retrieved 22 September 2013.
  15. ^ "Buy HPCL With Target Of Rs 490 | TopNews". Topnews.in. 7 May 2010. Archived from the original on 6 April 2012. Retrieved 26 July 2010.
  16. ^ ":: Hp Lubes ::". Archived from the original on 29 May 2012. Retrieved 6 December 2019.
  17. ^ http://www.hpracer4.com/ Archived 8 February 2011 at the Wayback Machine Racer4
  18. ^ http://www.hpaviation.in Archived 23 April 2019 at the Wayback Machine HP Aviation
  19. ^ "India's top 10 brands". business.rediff.com. Archived from the original on 28 October 2010. Retrieved 26 October 2010.
  20. ^ "Welcome to Mangalore Refinery and Petrochemicals Ltd". Archived from the original on 21 October 2019. Retrieved 28 June 2013.
  21. ^ "Home - HMEL". Archived from the original on 3 July 2015. Retrieved 2 July 2015.
  22. ^ "SALPG - South Asia LPG Company Pvt Ltd". Archived from the original on 3 May 2015. Retrieved 2 July 2015.