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Hindustan Petroleum Corporation Ltd. Company History and Annual Growth Details

1952

- 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.

1962

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

1974

- 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 4th.

1976

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

1979

- 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.

1983

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

1985

- 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 April.

1988

- 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.

1989

- 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.

1991

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

1993

- 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.

1994

- 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.

1995

- 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 institutions

- 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 acrylonitrile.

- 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.

1996

- 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.

1997

- 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 future.

- 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.

1998

- 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.

1999

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

- 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.

2000

- 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 foray.

- 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 acquired.

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

2001

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

2002

- 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

2003

- 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

2004

-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

2005

-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



2006

-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.

2007

-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).

2008

-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

2009

- 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.


2010

- 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.


2011

- HPCL wins Oil and Gas Marketing Company of the Year award.

- Oil India Limited (OIL) and Hindustan Petroleum Corp Ltd (HPCL) have signed a memorandum of understanding (MoU) to start a joint business in mutual interest sector.

- Hindustan Petroleum Corporation Ltd has informed BSE that the Company has 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.

2012

- HPCL, Mittal Energy joint venture ties-up with IBM for data solutions.

- HPCL has now become 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.

2013

-HPCL has informed BSE that a Memorandum of Understanding (MOU) was signed between Government of Rajasthan (GOR) and M/s. Hindustan Petroleum Corporation Limited (HPCL) for setting up a state-of-the-art 9 MMTPA refinery-cum-petrochemical complex in Barmer District of Rajasthan.

-HPCL to enter into a 50:50 joint venture with Shapoorji Pallonji Group for LNG terminal for import of liquid gas (LNG) on Gujarat coast.

-HPCL procures 1mn barrels of Nigerian Qua Iboe crude oil.

-Launches of 5 Kg LPG Cylinder Sale through COCO ROs in Hyderabad.

-HPCL has been bestowed with the Golden Peacock Award for Excellence in Corporate Governance for the year 2013 by Institute of Directors.

-HPCL signs MoU with MOP&NG, Govt. of India for FY 2013-14.

2014
-HPCLs Mumbai Refinery has bagged the coveted 'National Energy Conservation Award (First prize)' in the Refinery Sector for the year 2014.
-HPCL Inaugurates KSP on World s Highest Motorable Road.
-HPCL bags the Platts Top 250 Global Energy Award.
-HPCL has signed a fresh Memorandum of Understanding with R&T Agents M/s.Link Intime India Pvt. Ltd.
-HPCL acquires two gas blocks in Australia for AUD 85 mn.

2015
-Hindustan Petroleum Corporation Ltd (HPCL) has approved the proposal for implementation of capacity expansion of the company's Mumbai refinery from 7.5 MMTPA to 9.5 MMTPA.
-Hindustan Petroleum Corporation Limited's HP Nagar East Colony, Mumbai has been awarded a PLATINUM RATING
-HPCL - ‘HP-HiGAS Unit’, a new commercial scale unit developed based on HPCL R&D technology at Visakh Refinery inauguration done
-HPCL - Oil Marketing Companies commenced marketing of Bio-Fuel blended High Speed Diesel (B-5 Diesel) in select retail outlets of the country.

2016
-Hindustan Petroleum Corporation Ltd Acquisition of shares of Petronet MHB Ltd. From Petronet India Ltd.
-Hindustan Petroleum Corporation Ltd has issue of Fully paid bonus shares in the ratio of 2 (two) Bonus Equity Share of Rs. 10 each for every 1 (one) existing equity share of Rs. 10 each
-Hindustan Petroleum Corporation Ltd receives Golden Peacock Award 2016

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