Hindustan Petroleum

Last updated

Hindustan Petroleum Corporation Limited
Company type Public Subsidiary
ISIN INE094A01015
Industry Petroleum
Founded5 July 1952;72 years ago (1952-07-05)
Headquarters Mumbai, Maharashtra, India
Key people
Rajneesh Narang(CMD) [1]
Products
RevenueIncrease2.svg₹463,886.08 crore (US$56 billion) (2024) [2]
Increase2.svg₹18,692.29 crore (US$2.2 billion) (2024) [2]
Increase2.svg₹16,014.61 crore (US$1.9 billion) (2024) [2]
Total assets Increase2.svg₹182,784.68 crore (US$22 billion) (2024) [2]
Total equity Increase2.svg₹46,921.35 crore (US$5.6 billion) (2024) [2]
Number of employees
8,154 (2024) [2]
Parent Oil and Natural Gas Corporation [3]
Subsidiaries
  • Prize Petroleum Company Limited
  • HPCL Biofuels Limited
  • HPCL Middle East FZCO
  • HPCL LNG Limited
Website hindustanpetroleum.com

Hindustan Petroleum Corporation Limited (HPCL) is an Indian public sector undertaking in petroleum and natural gas industry, headquartered in Mumbai. It is a subsidiary of the Oil and Natural Gas Corporation (ONGC), which is owned by the Government of India and under the administration of Ministry of Petroleum and Natural Gas. [4] [5] [6]

Contents

Since 2018, Oil and Natural Gas Corporation has owned majority of its stake. [3] It is ranked 367th on the Fortune Global 500 list of the world's biggest corporations as of 2016. [7] On 24 October 2019, it became a Maharatna (PSU). [8]

History

A view of HPCL from Yarada Hill, Visakhapatnam HPCL from Yarada hill.jpg
A view of HPCL from Yarada Hill, Visakhapatnam

HPCL was incorporated on 5 July 1952 as Standard Vacuum Refining Company of India Limited. In 1974, it changed its name 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]

On 19 July 2017, the Government of India announced the acquisition of HPCL by the Oil and Natural Gas Corporation (ONGC). [10] On 1 November 2017, the Union Cabinet approved ONGC for acquiring a majority 51.11% stake in HPCL. On 30 January 2018, ONGC acquired 51.11% stake, thus gaining majority ownership. [3]

Operations

An HP fueling station in Kapsi, Chhattisgarh Hindustan Petroleum Fueling Station Kapsi.jpg
An HP fueling station in Kapsi, Chhattisgarh
HP fuel pump in Coimbatore Hindustan Petroleum Fuel Pump.JPG
HP fuel pump in Coimbatore
HP petrol bunk at Basaveshwaranagara, Bangalore Hp basaveshwaranagar.png
HP petrol bunk at Basaveshwaranagara, Bangalore

HPCL wholly owns two major refineries in India: [11] one in Mumbai (west coast) with a capacity of 9.5 million tonss per year, and one in Visakhapatnam (east coast) with a capacity of 8.3 million tons per year. [12]

In addition, HPCL holds an equity stake of 16.95% in Mangalore Refinery and Petrochemicals Limited, a company that runs a refinery in Mangalore with a capacity over 9 million tons per year. HMEL, a joint venture between HPCL and Mittal Energy Investments Pte. Ltd, operates another refinery of 11.3 million tons per year in Bathinda, Punjab. [13] HPCL has signed a memorandum of understanding with the Government of Rajasthan for constructing a refinery near Barmer; it would be operated under a joint venture company called HPCL Rajasthan Refinery Limited (Popularly known as HRRL). [14]

HPCL also owns and operates the largest lubricant refinery in India, with a capacity of 335,000 metric tons, producing lube base oils.[ citation needed ] This refinery accounts for over 40% of India's total lube base oil production. 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 bottling plants and distributors, lube filling plants and distributors, inland relay depots, and retail outlets (petrol pumps).

HPCL has a information technology infrastructure to support its core business. The data center is at HITEC City in Hyderabad.

Facilities

HP oil refinery in Visakhapatnam Visakhapatnam oil refinary.jpg
HP oil refinery in Visakhapatnam

HPCL operates refineries in India, including:

In addition, HPCL operates other manufacturing facilities, including:

Products

HP petrol pump HP Petrol Bunk 31102016.jpg
HP petrol pump
HP cooking gas delivery vehicle Tata ACE - HP Gas Carrier.JPG
HP cooking gas delivery vehicle

HPCL produces a wide variety of petroleum fuels and specialties:

HPCL also offers HP Drive Track Plus cards for consumers purchasing their products, and provides cashback as per the government cashback offers.

International rankings

Major ongoing projects

Subsidiaries

Hindustan Petroleum Gas

HPCL is focused on the appraisal and development of hydrocarbon accumulations in onshore and offshore projects. Operating projects include the Hirapur Marginal oil fields of the Cambay basin (near Gandhinagar, Gujarat) under a service contract with ONGC, and the pre-NELP production sharing contract for the Sanganpur field (Mehsana) with M/s Hydrocarbon Development Company (P) Ltd.

See also

Related Research Articles

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<span class="mw-page-title-main">Mumbai Refinery (HPCL)</span>

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<span class="mw-page-title-main">Visakhapatnam Refinery</span>

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References

  1. ↑ Limited, Hindustan Petroleum Corporation. "Bod".{{cite web}}: |last= has generic name (help)
  2. 1 2 3 4 5 6 https://www.bseindia.com/xml-data/corpfiling/AttachLive/351daa32-5d7e-4893-8431-6905c8c96db6.pdf.{{cite web}}: Missing or empty |title= (help)
  3. 1 2 3 "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). Privatization and Labor 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. 1 2 "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. ↑ "Welcome to Mangalore Refinery and Petrochemicals Ltd". Archived from the original on 21 October 2019. Retrieved 28 June 2013.
  17. ↑ "Home - HMEL". Archived from the original on 3 July 2015. Retrieved 2 July 2015.
  18. ↑ "SALPG - South Asia LPG Company Pvt Ltd". Archived from the original on 3 May 2015. Retrieved 2 July 2015.
  19. ↑ ":: Hp Lubes ::". Archived from the original on 29 May 2012. Retrieved 6 December 2019.
  20. ↑ http://www.hpracer4.com/ Archived 8 February 2011 at the Wayback Machine Racer4
  21. ↑ http://www.hpaviation.in Archived 23 April 2019 at the Wayback Machine HP Aviation
  22. ↑ "India's top 10 brands". business.rediff.com. Archived from the original on 28 October 2010. Retrieved 26 October 2010.