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.

Hindustan Petroleum Corporation Limited (HPCL) is an Indian 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. Oil and Natural Gas
Corporation, also second promoter of the company (first promotor is The President of India) ,
owns 51.11% shares in HPCL and others are distributed amongst financial institutes, public and
other investors.[2][3][4] The company is ranked 367th on the Fortune Global 500 list of the world's
biggest corporations as of 2016. HPCL got removed from NIFTY 50 INDEX in March
2019 [5]Recently on 24 October 2019 the company has conferred with Maharatna status.

Hindustan Petroleum Corporation Limited

Type Public

Traded as BSE: 500104

NSE: HINDPETRO

ISIN INE094A01015

Industry Oil and Gas

Founded 1974; 45 years ago

Headquarters Mumbai, Maharashtra, India

 Key people M K Surana
(MD)

Products Petroleum
Natural gas
LNG
Lubricants
Petrochemicals

Revenue ₹298,618 crore (US$43 billion)

(2019)[1]

Operating income ₹10,039 crore (US$1.5 billion)

(2019)[1]

Net income ₹6,690 crore (US$970 million)

(2019)[1]

Total assets ₹107,258 crore (US$16 billion)

(2019)[1]

Owner Oil and Natural Gas

Corporation (51.11%)

Number of 10,352 (2018)[1]

employees

Website www.hindustanpetroleum.com

History[edit]
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. 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.[6]
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/operations grew from ₹2687 crores in 1984–1985 to ₹2,06,529
crores in financial year 2012–2013. During FY 2013-14, its net profit was ₹1740 crores.