Hindustan Petroleum Corporation Ltd - (HINDPETRO)

Hindustan Petroleum Corporation Ltd, a fortune 500 company, is one of the major integrated oil refining and marketing companies in India. The company is a Mega Public Sector Undertaking (PSU) with Navaratna status. The company operates in two business segments: Downstream, and exploration and production of hydrocarbons. The Downstream segment is engaged in refining and marketing of petroleum products. They operate two coastal refineries, one at Mumbai (West Coast) of 6.5 million metric tonnes per annum (MMTPA) and the other in Vishakapatnam, (East Coast) with a capacity of 8.3 MMTPA. They also hold an equity stake of 16.95% in Mangalore Refinery & Petrochemicals Ltd (MRPL), a refinery at Mangalore with a capacity of 9 MMTPA. The company owns the countrys Lube Refinery with a capacity of 335,000 Metric Tonnes. The companys products and services include Refineries, aviation, bulk fuels & specialities, international trade, liquefied petroleum gas (LPG) - HP gas, Lubes - HP lubes. The companys subsidiaries include HPCL Biofuels Ltd and HPCL-Mittal Energy Ltd.Hindustan Petroleum Corporation Ltd was incorporated in the year 1952 with the name Standard Vacuum Refining Company. Then, the name was changed to ESSO India. When ESSO and Lube India were nationalised, the company was renamed to Hindustan Petroleum Corporation Ltd in the year 1974. The Caltex undertaking was nationalized in the year 1976, which were subsequently merged with the company in the year 1978. In the year 1979, the undertakings of Kosan Gas Company, the concessionaires of HPCL in the domestic LPG market, was merged with the company. In December 2000, the Guru Gobind Singh Refineries was incorporated as a wholly owned subsidiary company. The company completed the Rs 378 crore pipeline project from Vijayawada to Secunderabad, which was commissioned on March 2002. They set up a new LPG Bottling plant with capacity of 44 TMTPA in Kota. The company implemented 15 company tank trucks in the year 2004.During the year 2004-05, the company completed their construction of a new grassroot depot at Aonla, Bareilly inUttarpradesh with total cost of Rs 10.25 crore. Also, they completed the construction of another new grassroot depot at Ramagundam, Andhra Pradesh at a total cost of Rs 11.47 crore. Further they commissioned a total of 13100 KL additional tankage at various locations during the year. The company branded their retail outlets under the name CLUB HP. They launched Turbojet branded diesel and the Power branded petrol in India. During the year 2005-06, the companys Mumbai Refinery undertook mega project at an approved cost of Rs 1850 crore to meet the MS/HSD of EURO-III grade in Metro/Mega cities and Bharat stage-II grade in the rest of the country and the Visakh Refinery undertook Clean Fuel Project at an approved cost of Rs 2147.8 crore to meet the MS/HSD of Euro-III grade in Metro-Mega cities and Bharat-II grade in the rest of the country. The company commissioned 647 Retail Outlets during the year.During the year 2008-09, the installation of facilities for production of Euro III / IV Petrol (Motor Spirit) at both the Refineries was completed. In pursuit of promoting alternate fuels, CREDA-HPCL Biofuel Ltd (CHBL) was incorporated on October 14, 2008, as a subsidiary company with equity shareholding of 74% by the company and 26% by Chhattisgarh State Renewable Energy Development Agency (CREDA). CHBL is to undertake cultivation of Jatropha plant, an energy crop used for production of bio- diesel, on 15,000 hectares of land leased by the Government of Chhattisgarh.HPCL Refineries commissioned Clean Fuels Projects and Euro-IV MS production started prior to January 2010 as per Auto Fuels Policy. Mumbai Refinery was the First Indian PSU refinery to commence BS-IV MS production facilities and first batch of BS-IV MS was rolled out in January, 2010. In its continual effort to widen the crude basket, Mumbai Refinery processed 2 new crudes, namely Iran Mix and Ravva crude. In April 2011, the company approved the acquisition of balance 50% shares held by other joint venture partners in Prize Petroleum Company Ltd. In November 2011, the company entered into an MoU with Greater Calcutta Gas Supply Corporation Ltd (GCGSCL) and Gas Authority of India Ltd (GAIL) to carry out Natural Gas business in the City of Kolkata and its adjoining districts.The company is setting up a state of the art Green R&D Centre at Bangalore with an objective to become a technology leader through continuous & innovative R&D efforts. The projects is being executed in a phase manner with a phase-I capital investment of Rs 210 crore.In 2012, HPCL, Mittal Energy joint venture ties-up with IBM for data solutions.The company became a promoter of the Rajasthan refinery by taking a majority stake of 51 per cent in Rs 25,000-crore refinery with anual capacity of 9 million metric tonnes.In 2013, a Memorandum of Understanding (MOU) was signed between Government of Rajasthan (GOR) and the company for setting up a state-of-the-art 9 MMTPA refinery-cum-petrochemical complex in Barmer District of Rajasthan. The company proposed to enter into a 50:50 joint venture with Shapoorji Pallonji Group for LNG terminal for import of liquid gas (LNG) on Gujarat coast. The company procures 1mn barrels of Nigerian Qua Iboe crude oil. The company has been bestowed with the Golden Peacock Award for Excellence in Corporate Governance for the year 2013 by Institute of Directors. The company signs MoU with MOP&NG, Govt. of India for FY 2013-14.In 2014 The companies Mumbai Refinery has bagged the coveted National Energy Conservation Award (First prize) in the Refinery Sector. The company Inaugurates KSP on Worlds Highest Motorable Road. The company bags the Platts Top 250 Global Energy Award. The company als has signed a fresh Memorandum of Understanding with R&T Agents M/s.Link Intime India Pvt. Ltd. The company acquires two gas blocks in Australia for AUD 85 mn.In 2015, Hindustan Petroleum Corporation Ltd (HPCL) has approved the proposal for implementation of capacity expansion of the companys Mumbai refinery from 7.5 MMTPA to 9.5 MMTPA. HPCL - HP-HiGAS Unit, a new commercial scale unit developed based on HPCL R&D technology at Visakh Refinery was inaugurated during the year. The company commenced marketing of Bio-Fuel blended High Speed Diesel (B-5 Diesel) in select retail outlets of the country.