HPCL
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Native name
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हिन्दुस्तान पेट्रोलियम निगम लिमिटेड |
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| Public | |
| Traded as | : , : HINDPETRO |
| Industry | Oil and Gas |
| Founded | 1974 |
| Headquarters | Mumbai, Maharashtra, India |
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Key people
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M K Surana (CEO, Chairman, Managing Director) |
| Products | Oil, natural gas, petroleum, lubricant, petrochemical |
| Revenue | ₹212,300 crore (US$33 billion) (2015) |
| ₹4,697 crore (US$730 million) (2015) | |
| ₹1,488 crore (US$230 million) (2015) | |
| Total assets | ₹67,550.64 crore (US$10 billion) (2015) |
| Owner | Government of India (51.11%) |
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Number of employees
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11,226 (2012) |
| Website | www |
Hindustan Petroleum Corporation Limited (HPCL) (: , : HINDPETRO) is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. It has about 25% market-share in India among public-sector companies (PSUs) and a strong marketing infrastructure. The Government of India owns 51.11% shares in HPCL and others are distributed amongst financial institutes, public and other investors. The company is ranked 367th on the Fortune Global 500 list of the world's biggest corporations as of 2016.
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 privatising 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 nationalised in the 1970s. As a result, the government would need a majority in both houses to push through any privatisation.
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 form sales/operations grew from IN ₹2687 crores in 1984-85 to IN ₹2,06,529 crores in financial year 2012-13. During FY 2013-14, its net profit was IN ₹1740 crores.
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