673 Views

Hindustan Petroleum 

“Market Cap $1.72 B As of May 2014

At a Glance

  • Industry: Oil & Gas Operations
  • Founded: 1974
  • Country: India
  • CEO: S Roy Choudhury
  • Website:www.hindustanpetroleum.com
  • Employees: 11,007
  • Sales: $34.97 B
  • Headquarters: Mumbai

Forbes Lists

#1211 Global 2000

  • #259 in Sales
  • #1192 in Assets
Profile

Hindustan Petroleum Corp. Ltd. operates as an integrated oil refining and marketing company. It is facilitated by a supply and distribution infrastructure comprising terminals, pipeline networks, aviation service stations, LPG bottling plants, inland relay depots and retail outlets, and lube and LPG distributorships. The company operates through the following businesses: Refineries, Aviation, Bulk Fuels and Specialties, International Trade, Liquefied Petroleum Gas, Lubes, Retail, Pipelines and Ventures. The Refineries business produces a wide variety of petroleum fuels, lubricants, specialties and greases in Mumbai and Vishakhapatnam. The Aviation business provides aviation refueling services at various airports in India. The Bulk Fuels and Specialties markets bulk fuels and petroleum products directly to industrial consumers, such as power plants, chemicals, fertilizers and shipping companies and airlines. It is also involved in the export of bulk fuels and finished petroleum products. The International Trade business is engaged in the import of crude oil, import and export of petroleum products and shipping and production planning for refineries. The Liquefied Petroleum Gas business supplies liquefied petroleum gas for domestic and industrial/commercial use through trucks through its loading bases spread across the country. The Lubes business produces and supplies lubricants from new generation cars to ploughing tractors and industrial machinery. The Retail business operates retail outlets that offer petroleum products, liquefied petroleum gas for automobiles, compressed natural gas, and turbojet diesel, as well as HP cards. It operates through two segments: Refining and Marketing of petroleum products, and Exploration and Production of Hydrocarbons. The company was founded on July 5, 1952 and is headquartered in Mumbai, India.

Hindustan Petroleum History

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 Govt. 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 steadily increased from 5.5 million metric tonnes in 1984/85 to 14.80 million metric tonnes (MMT) as of March 2013. On the financial front, the Net income form Sales/operations grew from IN INR2687 crores in 1984-85 to IN INR2,06,529 crores in financial year 2012-13. During FY 2012-13, its net profit was IN INR904 crores.”

*Information from Forbes.com and Wikipedia.org

**Video published on YouTube by “Axon3D