Hindustan

Petroleum

Hindustan Petroleum Corporation

Limited (HPCL), commonly referred to as
HP, is a subsidiary of Oil and Natural Gas
Corporation (ONGC) which is in turn
under the ownership of the Ministry of
Petroleum and Natural Gas, Government
of India. It is headquartered in
Mumbai.[4][5][6] 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]
 Hindustan Petroleum Corporation Limited

Type Subsidiary of Oil and

Natural Gas
Corporation
Traded as BSE: 500104 (http
s://www.bseindia.co
m/stock-share-price/
x/y/500104/)
NSE: HINDPETRO (ht
tps://www.nseindia.c
om/get-quotes/equit
y?symbol=HINDPET
RO)
ISIN INE094A01015 (http
s://iw.toolforge.org/i
 sin/?language=en&is
in=INE094A01015)
Industry Oil and Gas

Founded 1974

Headquarters Mumbai,
Maharashtra, India
Key people Pushp Kumar Joshi
(CMD)[1]

Products Petroleum
Natural gas
LNG
Lubricants
Petrochemicals
Revenue ₹467,964.52 crore
(US$59 billion)
(2023)[2]
Operating income ₹−12,475.43 crore
(US$−1.6 billion)
(2023)[2]
Net income ₹−6,980.23 crore
(US$−870 million)
(2023)[2]
Total assets ₹161,339.51 crore
(US$20 billion)
(2023)[2]
Total equity ₹32,263.27 crore
(US$4.0 billion)
(2023)[2]
Owner Oil and Natural Gas
Corporation(ONGC)
[3]

Number of 9,065 (2022)[2]

employees

Subsidiaries HPCL Biofuels

Limited
CREDA-HPCL
Biofuels Limited
HPCL Rajasthan
Refinery Limited
 HP Gas (domestic
and industrial
natural gas)
Website www
.hindustanpetroleum
.com (https://www.hi
ndustanpetroleum.c
om/)

History

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 (https://indiankanoon.or
g/doc/1769128/) . 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 (https://web.a
rchive.org/web/20161031150739/http://
www.hindustanpetroleum.com/Upload/E
n/UPdf/CORIL-AMALGAMATION-1978.pd
f) . Kosan Gas Company was merged
with HPCL in 1979 by the Kosangas
Company Acquisition Act 1979 (https://w
eb.archive.org/web/20161031024157/ht
tp://www.hindustanpetroleum.com/Uplo
ad/En/UPdf/KOSANGAS-ACQUISITION-A
CT.pdf) .
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 and
operations grew from ₹2,687 crores in
1984–1985 to ₹2,06,529 crores in the
2012–13 financial year. During the 2013–
14 financial year, the company's net profit
was ₹1,740 crores. During the 2021–22
financial year following the COVID-19
pandemic, HPCL's profit was ₹6,383 crore
and its revenue was ₹ 3,72,642 crore (its
highest ever, up by 38%).

Merger and acquisition

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 the entire 51.11% stake, thus
gaining majority ownership.[3]

Operations

HP fuel pump in Coimbatore

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 tonnes per
year, and one in Visakhapatnam (east
coast) with a capacity of 8.3 million
tonnes per year.[12]

In addition, HPCL holds an equity stake

of 16.95% in Mangalore Refinery and
Petrochemicals Limited, a company that
runs a state-of-the-art refinery in
Mangalore with a capacity over 9 million
tonnes per year. HMEL, a joint venture
between HPCL and Mittal Energy
Investments Pte. Ltd, operates another
refinery of 11.3 million tonnes 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.[14]

HPCL also owns and operates the largest

lubricant refinery in India, with a capacity
of 335,000 metric tonnes, producing lube
base oils of international standards. 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 bottling
plants and distributors, lube filling plants
and distributors, inland relay depots, and
retail outlets (petrol pumps).

HPCL has a state-of-the-art information

technology infrastructure to support its
core business. The data center is at
Hitech city in Hyderabad.
Facilities

HP oil refinery in Visakhapatnam

HPCL operates refineries in India,

including:

Mumbai Refinery: 9.5 million metric

tons capacity (fuel and lubes)
Visakhapatnam Refinery: 8.3 million
metric tons capacity (fuel)
Mangalore Refinery: 9.69 million metric
tons capacity (HPCL has a 16.65%
stake)[16]
 Guru Gobind Singh Refinery (Bathinda):
9 million metric tons capacity (HPCL
and Mittal Energy each have a 49%
stake)[17]
Barmer Refinery: planned for a 9
million metric tons capacity (HPCL has
a 74%, Government of Rajasthan has a
24% stake)[14]

In addition, HPCL operates other

manufacturing facilities, including:

Silvassa Lube: a state-of-the-art plant

for grease and specialties, and one of
the most advanced fully automated
installations in Asia
 Lube & Grease manufacturing facility
(Mazagaon, Mumbai)
LPG storage Cavern: one of the biggest
storage facilities of LPG in Asia at
Vizag—SALPG[18]
Pipelines: MPSPL, MDPL, VVSPL,
MHMSPL, RKPL, ASPL, RBPL
Several terminals and depots
Many liquified petroleum gas bottling
plants
HPCL Green R&D Centre (Bangalore)

Products

HP petrol pump
 HP cooking gas delivery vehicle

HPCL produces a wide variety of

petroleum fuels and specialties:

Petrol (known as "motor spirit" in the

oil industry) – HPCL markets its petrol
at its retail pumps all over India. Its
principal consumers are personal
vehicle owners.
Diesel (known as "high-speed diesel" in
the oil industry) – HPCL markets its
diesel at its retail pumps, terminals,
and depots. Its consumers include
personal vehicle owners, transport
agencies, and industries.
Lubricants – HPCL is the market
leader in lubricants and associated
products. It commands over 30% of
the market share in this sector. The
popular brands of HP lubes are Laal
Ghoda, HP Milcy,[19] Thanda Raja,
Koolgard, and Racer4.[20]
Liquefied petroleum gas – HPCL's
brand of liquified petroleum gas is
popular across India for domestic and
industrial uses.
Aviation fuel[21] – With major air
service facilities in all major airports of
India, HPCL is a key player in this
sector, supplying turbine fuel to major
airlines. It also supplies fuel to the US.
 Emulsions – HPCL manufactures
White spirit oil.

HPCL also offers HP Drive Track Plus

cards for consumers purchasing their
products, and provides cashback as per
the government cashback offers.

International rankings
HPCL is a Fortune Global 500 company
and was ranked at position 259 in
2013. In 2016, HPCL was ranked 367.
HPCL was featured on the Forbes
Global 2000 list for 2013 at position
1217.
HPCL was the 10th most valuable
brand in India according to an annual
 survey conducted by Brand Finance
and The Economic Times in 2010.[22]

Major ongoing projects

Uran–Chakan–Shikrapur LPG Pipeline
(UCSPL)
Vijayawada–Dharmapuri Pipeline
(VDPL)
Palanpur Vadodara Pipeline (PVPL)
Visakhapatnam Refinery
Modernization Project
Barmer Refinery RAJASTHAN
Mumbai Refinery Expansion Project

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.

HPCL Biofuels Limited

CREDA-HPCL Biofuels Limited
HPCL Rajasthan Refinery Limited
HP Gas (domestic and industrial
natural gas)
See also
Companies
portal
Energy
portal

Hindustan Platinum
List of companies of India
List of largest companies by revenue
List of public corporations by market
capitalization
Make in India
Forbes Global 2000
Fortune India 500
Rajiv Gandhi Institute of Petroleum
Technology
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External links
Wikimedia Commons has media
related to Hindustan Petroleum.
Official website (https://www.hindusta
npetroleum.com/)

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title=Hindustan_Petroleum&oldid=1161252720"

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