Home  »  Company  »  Hindustan Petroleum Corporation Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Hindustan Petroleum Corporation Ltd. Company History and Annual Growth Details


- The Company was incorporated in the name of Standard Vacuum Refining
Company of India Limited on July 5, 1952 under the Indian Companies
Act, VII of 1913.


- On 31st March the name was changed to ESSO Standard Refining Company
of India Limited.


- On July 15th the name of the company was changed to its present name
Hindustan Petroleum Corporation Limited., by virtue of Lube India and
ESSO Standard Refining Company of India Limited Amalgamation Order 1974
dated July 12, passed by the Company Law Board, Department of Company
Affairs, GOI, New Delhi and as published in the Gazette of India
Extra-Ordinary GSR No.320(E) dated July 15. A certificate to this
effect was issued by the Registrar of Companies, Mumbai on September


- With the nationalisation of Caltex Undertakings in India the same
were also taken over by the Government of India and subsequently merged
with HPCL.


- The undertakings of Kosangas Company Ltd. were merged with HPCL. As
part of the disinvestment in PSUs, shares of HPCL were sold by the
Government to Financial Institutions, Mutual Funds and Banks.
Presently the Government holding in HPCL is 60.31%. The balance is
being held by Financial Institutions, Mutual Funds, Banks, Foreign
Institutional Investors, Employees and Individual Shareholders.

-It has co-promoted several joint ventures like Mangalore Refinery &
Petrochemicals (MRPL), Hindustan Colas, Petronet India, Punjab Refinery
Project, Visakh Power Project, Prize Petroleum Co & South Asia LPG Co.


- The capacity of lube plant was increased by an additional 74,000
tonnes per annum of high viscosity index lube base stocks.


- The crude unit and related off-sites were commissioned in January and
fluid catalytic cracking unit was commissioned in August.

- During the year corporation embarked upon a project to expand the
crude distillation capacity at Mumbai by 2 million tonnes per annum at
an estimated cost of Rs.45 crores. This project was commissioned in


- Mangalore Refineries & Petrochemicals Ltd., is the first joint sector
refinery being set up in the country after the Government has allowed
entry of the private sector in the petroleum refining industry.


- During the year corporation installed the latest C-generations
concept 3*10 MW gas turbines to meet the power requirement at Bombay
Refinery with facilities to generate steam simultaneously.


- During September 3*10 MW gas turbine generators and heat recovery
steam generators were commissioned at a cost of Rs.79.22 crores at


- During March an MOU was entered into between Govt. of India and Govt.
of Sultanate of Oman, HPCL and Oman Oil Co., Ltd., for setting up 6
million TPA refinery on the West Coast of India through a joint venture
company called Hindustan Oman Petroleum Co. Ltd.


- In March 1993, an MOU was signed between the Government of India,
HPCL, Government of Sultanate of Oman and Oman Oil Company to form a
Joint Venture Company. Accordingly, on March 4, Hindustan Oman
Petroleum Company Ltd. (HOPCL) was incorporated. The project is
estimated to cost approx. Rs. 4426 crores (at June prices) and both
promoters will have a 26% stake each in the equity.

- A Memorandum of Understanding has been was signed on May 24th between
HPCL and Colas S.A., France for implementing a project for setting up a
Bitumen Emulsions plant. This was followed by execution of the Joint
Venture agreement on November 25th. It is proposed to form a Joint
Venture Company (JVC) in the name of 'Hindustan Colas Limited' in the
State of Maharashtra with equal equity participation from HPCL and
Colas S.A., France.

- During the year, the company entered into a tie up with Exxon, a
leading oil company for blending and marketing EESO brand of lubes.


- During February, the company issued 173,50,000 equity shares of Rs.10
each with detachable warrants of Rs.380 each as follows.

- a. On firm allotment basis:

- i) 34,70,000 equity shares with warrants to Indian Financial

- ii) 3,35,000 shares with warrants to Indian Mutual Funds.

- b. Preferencial allotment basis:

- i) 17,35,000 shares with warrants to share to employees

- ii) 17,75,000 shares with warrants to shareholders of the company,

- iii) 34,70,000 shares with warrants to NRIs, balance 66,05,000 shares
were issued to the public.

- During the year company entered into a MOU with Saudi Arabian Oil
Co.(Saudi Armaco) for setting up a 1 million tonnes p.a refinery
Punjab. Armaco would contribute to the extent of 26% in the equity
capital of the company.

- During the year company proposed to undertake petrochemical
production from feedstock available from the refineries. The
petrochemicals planned were paraxylene/PTA, polyisobutylene and

- During the same year the company undertook to provide thermal power
from surplus heavy fuel oil. The proposed joint venture is to set up
500 MW power plant an estimated cost of Rs.1865 crores.


- During the year March a joint venture with Colas S.A of France, the
company commenced its first State-of-the-art Bitumen emulsion Plant of
20,000 TPA capacity at Vashi, named Hindustan Coalas Ltd.


- A new Terminal was commissioned at Kakinada with 30000 KL Tankage and
allied facilities at a cost of Rs. 15.06 crores.

- Hindustan Petroleum Corporation Limited (HPCL) is contemplating
setting up 30 more LPG bottling plants over the next five years.

- HPCL is converting the detachable warrant into equity shares of Rs.10
at a premium of Rs.330 per share. Through this conversion of warrant
company is raising Rs.589.90 crore. The amount will be payable in four
instalments of Rs 85 each payable over a period of one year.

- Each warrant is to be converted into one equity share at a price of
Rs.340 a share. With the full conversion of warrants, the government
of India holding HPCL's equity capital will be just over 51 per cent,
ruling out further dilution in the company's capital in the near

- HPCL has signed an MoU with the government for the execution of four
projects, the Vizag refinery expansion project, Vizag-Vijaywada
pipeline project, diesel hydro de-sulphurisation projects at Mumbai and
Vizag and Punjab refinery project.

- The ministry of petroleum and natural gas has set up an expert
committee on 15th September, to enquire into the causes leading to the
breakout of fire at HPCL's Vishakapatnam refining plant.

- The joint venture between Hindustan Petroleum Corporation Ltd and its
former parent before nationalisation, Esso, is on slippery ground.

- Hindustan Petroleum Corporation Ltd signed a fuel supply agreement
with a private firm which would set up a 100 MW liquid fuel based
combined cycle power plant near Kengeri on the city outskirts.


- Hindustan Petroleum Corporation Ltd (HPCL) has signed a commercial
agreement with Kondapalli Power Corporation Ltd (KPCL) for the supply
of naphtha for the latter's 355-MW combined cycle power generation unit
at Kondapalli in Krishna district of Andhra Pradesh.

- Hindustan Petroleum Corporation Ltd (HPCL) has awarded the contract
to build the refinery to South Korea's Hyundai Heavy Industries.

- Hindustan Petroleum Corporation (HPCL) is believed to have signed an
agreement with Esso Mauritius for marketing the latter's range of
lubricating oils here.

- Hindustan Petroleum Corporation Ltd (HPCL) has set up a joint venture
company with domestic financial institutions (FIs) for oil and gas
exploration both in the country and abroad.

- Hindustan Petroleum Corporation Limited has commissioned its
state-of-the-art modern LPG filling plant at Usar, Alibagh.

- State owned Hindustan Petroleum Corporation's (HPCL) joint venture
with Aditya Birla Group, Mangalore Refineries and Petrochemicals Ltd
(MRPL), is keen to set up an independent marketing network.


- American Express and Hindustan Petroleum Corporation has signed a
memorandum of understanding (MoU) for card acceptance at various gas

- Hindustan Petroleum Corporation Ltd (HPCL) and Gas Authority of India
Ltd (GAIL) have entered into an agreement for setting up a liquefied
petroleum gas (LPG) pipeline and infrastructure from Visakhapatnam to
Secunderabad via Rajamundry and Vijayawada.

- The Foreign Investment Promotion Board (FIPB) has allowed the joint
venture of Hindustan Petroleum Corporation (HPCL) and Total of France,
to set up LNG terminals and venture into downstream activities such as
marketing of petro-products, etc.

- Hindustan Petroleum Corporation Ltd (HPCL) is celebrating its silver
jubilee year with 'Shakti Utsavs' in major Indian cities.


- Scheme of amalgamation of Industrial Perfumes Ltd. with the company
is effective from 9th February, with retrospective effect from 1st
January, 1999.

- The Company signed a confidentiality agreement with Totalfina of
France to look at downstream areas, including retailing, once the
domestic oil sector is opened up.

- The Company has decided to float a joint venture information
technology company for its e-commerce and other internet based services

- The Company will set up a Rs 2900 crore power project in
Visakhapatnam as part of the company's difversification strategy.

- HPCL has signed a business initiative with internet service provider
(ISP) Satyam Infoway Ltd. to set up more than 200 cyber cafes at its
retail outlets across the country.

- Pepsi has entered its second cyberspace venture forging a tie-up with
Satyam and the company as the official beverages supplier for their
'Speednet project'.

- Mangalore Refinery and Petrochemicals, the joint venture between
Hindustan Petroleum Corporation and the AV Birla Group of companies, is
all set to sign a memorandum of understanding with Kuwait Petroleum
Corporation for joint efforts in the downstream sector.

- There was a fire blast in the Refinery at Malkapuram Near
Visakhapatnam, on 17th August.

- India's largest private Internet Service Providers, Satyam Infoway
and Hindustan Petroleum Corporation Ltd. have forged an alliance to set
up cyber kiosks at various petrol pumps across the country.

- Hindustan Petroleum Corporation Ltd. has entered the Bangladesh
lubricants market with a range of its diesel engine and motor oil.

- Hindustan Petroleum Corporation Ltd. along with ZIP Telecom,
front-end operator of Hughes Ispat, will set up public access telephone
booths at HPCL retail outlets across Maharashtra.

- The Company has set up two regional offices in Jamshedpur as part of
its strategy to focus on improving services.

- A subsidiary company 'Guru Gobind Singh Refineries' has been
incorporated on Dec 2000. Land admeasuring approx. 2000 acres has been

- GOI is the major shareholder in the company with 51% stake.


- Hindustan Petroleum Corporation Ltd. has introduced its smart card in
Bangalore for the first time in the country.


- Hindustan Petroleum Corporation Ltd has informed that the Government
of India has appointed Shri Arun Balakrishnan as Director-Human
Resources of the Corporation.

-M B Lal appointed as Chairman & M D of HPCL.

-Hindustan Petroleum Corporation Ltd has informed that Shri Naresh Narad, Special Secretary, Ministry of Petroleum & Natural Gas has ceased to be a part time ex-officio Director of the Corporation with effect from November 11, 2002 consequent upon his movement from Ministry of Petroleum & Natural Gas, as Secretary, Ministry of Heavy Industries & Public Enterprises.

-M S Srinivasan appointed as part-time ex-officio Director on the Board of HPCL.

-Hindustan Petroleum Corporation Ltd has informed that Shri S D Gupta, Director (Finance) of the corporation passed away on December 26, 2002 after a brief illness.

- Approves Mangalore Refinery & Petrochemicals Ltd. (MRPL) control to Birlas

- HPCL is introducing a new system at its 6,000-odd retail outlets across the country. The Company plans to set up facilities enabling customers to buy original spare parts and accessories for the car

- Ties-up with Gas Authority of India Ltd (Gail), Oil and Natural Gas Corporation (ONGC) to purchase LPG

- Ties up with Lubrizol for its own brand of high-performance petrol, branded 'Power'

- Unveils branded petrol, diesel (Power & Turbojet respectively)

- HP unveils new retail brand - 'Club HP' through which it intends to offer quality personalised vehicle and consumer care through select outlets

- FedEx inks one-year agreement with HPCL to set up transportation services at HPCL's 100 'Club HP' retail outlets in eight cities in the country

- HPCL and GAIL sign agreement for formation of new JV Company to distribute and market environmentally friendly fuels in and around the cities of Andhra Pradesh


- Cabinet Committee on Disinvestment (CCD) decides to divest 34.01 per cent equity in Hindustan Petroleum Corporation Ltd (HPCL) to a strategic partner

- Govt fixes Rs 2,500-cr net worth for HPCL bidders

- Forges alliance with Chennai-based KwickTel Communications to launch vehicle tracking system

- HPCL shareholding in Mangalore Refinery and Petrochemicals Ltd (MRPL) dips to 16.89% consequent to MRPL Debt Restructuring Arrangement

- TotalFinaElf withraws from the race for acquiring the 34 per cent stake in Hindustan Petroleum Corporation Ltd (HPCL)

- HPCL becomes the second largest firm in terms of sales with a turnover of over Rs 50,000 crore

- Launches loyalty Plan for its LPG Consumers

- Launches a new scheme where in the LPG (liquefied petroleum gas) delivery boys will carry portable weighing scales, so that HP customer can measure the Gas contend in cylinder before receiving it

- Unveils a high-octane petrol brand in the market named as 'Power '93'

- Ties up with Chevron for Aviation Turbine Fuel (ATF) business

- Government of India appoints Mr. C Ramulu as Director - Finance of the Corporation

- Signs agreement with Oil & Natural Gas Corporation (ONGC ) for sourcing crude oil

---HPCL bags eighth slot among 'Top 10' in Asiamoney's corporate governance poll on Asian companies in the energy sector. And joined the club of a select few Asian companies.

-Unveils Smart Card which a customer could use to pay for petrol or diesel bought at HPCL's outlets


-HPCL - Marketing Initiatives in Sri Lanka

- Hindustan Petroleum Corporation Ltd (HPCL) has formed a 50:50 joint venture with Total Gas and Power India (TGPI), a wholly-owned subsidiary of Total France, to develop the biggest underground 'Cavern LPG Storage' project at Visakhapatnam

-Gets award for industrial safety by National Safety Council, Kerala Chapter in chemical industries sector

-Inks pact with Shell India Private Ltd for product and infrastructure sharing between the two companies

-Signs agreement with US Pizza, a pizza outlet, which would be opening over 500 delivery units at HPCL's outlets around the country. The understanding is aimed at making the partnership the largest food chain in the country

-Mr S. Roy Choudhary has been appointed as Director-Marketing in Hindustan Petroleum Corporation Ltd (HPCL), effective May 10

-Hindustan Petroleum Corporation Ltd on June 26 signed a memorandum of understanding with Indian Oil Corporation Ltd

-Birla Power Solutions, a Yash Birla Group company, has tied up with Hindustan Petroleum Corp Ltd (HPCL) to produce electricity generators, which run on LPG

-HPCL launches unique smart card

-Hindustan Petroleum Corporation signs MoU & Confidentiality agreement with Chevron Texaco


-HPCL signs MoU with RCF (Rashtriya Chemicals Fertilisers Ltd )

-HPCL ropes in Sania Mirza to endorse retail brands

-Pizza Corner forges alliance with HPCL

-Amex, HPCL unveils co-branded credit card

-HPCL opens new LPG bunk in Visakhapatnam

-HPCL partners with MSFCL for bio-diesel venture

-HPCL signed an agreement with BP plc (formerly known as British Petroleum) to form 50:50 strategic joint venture partnership

-HPCL signs MoU with Gail on November 16, 2005


-HPCL, MyTVS unveils MyTVS Club HP Smart1 cards

-HPCL signs MoU with SINOPEC

-HPCL join hands with Malbro Appliances to market LPG stoves

-Kamat Group joins hand with HPCL for food joints

-Nirlep Appliances Ltd, manufacturer of cookware, has entered into a marketing pack with HPCL for marketing non-stick cookware, regular inner and outer lid pressure cookers and gas stoves.


-Hindustan Petroleum Corporation Ltd (HPCL) has informed that Shri. Arun Balakrishnan earlier Director (HR) has taken charge as Chairman & Managing Director of the Company effective April 01, 2007 (AM).

-Hindustan Petroleum Corporation Ltd (HPCL) and ONGC have signed a Memorandum of Understanding (MoU), covering Product Sale Purchase, Infrastructure Services and Co-operation in Energy & related fields.

-Hindustan Petroleum Corporation Ltd (HPCL) has informed that Shri. P V Rajaraman, retired IAS Officer and former Chairman of Tamilnadu Industrial Investment Corporation has been co-opted as part-time 'Non-officio' Director on the Board of the Company.

- Mr V. Vizia Saradhi assumed charge as the Director, Human Resources, of the HPCL on Aug 3.

- Hindustan Petroleum Corporation Ltd (HPCL) has informed that Shri. V Viziasaradhi has been appointed as Director - Human Resources on the Board of the Company effective August 03, 2007 (PM).


-Hindustan Petroleum Corporation Ltd (HPCL) has informed that Shri. L N Gupta, Joint Secretary - Refineries, Ministry of Petroleum & Natural Gas (MOP&NG) has been co-opted as part-time ex-officio Director on the Board of HPCL at the Board Meeting held on June 25, 2008 (PM).

-HPCL signs MOU with Shree Renuka Sugars Ltd

-HPCL joins hand with CREDA

- HPCL forays ethanol business


- Hindustan Petroleum Corporation Ltd (HPCL) has appointed following firms as statutory / Branch Auditors for the Financial year 2009-10.
V. Sankar Aiyar & Co. : Joint Statutory Auditors
Om Agarwal & Co. : Joint Statutory Auditors
Gandhy & Co. : Branch Auditors for Visakh Refinery.


- Hindustan Petroleum Corporation Ltd (HPCL) has appointed Dr. Gitesh K. Shah as Part-time Non-Official Director on the Board of HPCL effective December 07, 2009.
Oct 28, 5:50 pm
Oct 28, 5:59 pm
Subscribe now to get personal finance updates in your inbox!