Yes, Hindustan Petroleum Corporation Limited or HPCL is a government company. It is a Maharatna public sector oil and gas undertaking, operating under the administrative control of Ministry of Petroleum and Natural Gas, Government of India. Founded on 5th July 1952, HPCL is a subsidiary of the Oil and Natural Gas Corporation Limited or ONGC. It was ranked 367th on the Fortune Global 500 List of the world’s biggest corporations in the year 2016.
HPCL is primarily engaged in refining crude oil, marketing and distribution of petroleum products like LPG, petrol, diesel, aviation fuel, lubricants and more, and operations in exploration and production, pipelines, renewables and biofuels.
Here is a quick overview of HPCL
| Details | Info |
| Founded | 5th July 1952 |
| Founder | Government of India |
| Headquarters | Mumbai, Maharashtra, India |
| Chairman | Vikas Kaushal |
| Industry | Oil and Gas |
| Products | Petroleum, Natural Gas, Lubricants, Petrochemicals, LNG |
| Parent Company | ONGC |
| Subsidiaries | HPCL Biofuels Limited, Prize Petroleum Company Limited, HPCL LNG Limited, HPCL Middle East FZCO |
Company History
HPCL was incorporated on 5th July 1952 as Standard Vacuum Refining Company of India Limited. In the year 1974, its name was changed to Caltex Oil Refining India Limited after it was taken over by the Government of India and merged it with two other foreign oil companies, Esso Standard and Lube India Limited. The company was subsequently restructured into a public sector company and named HPCL.
Kosan Gas Company merged with HPCL under the Kosangas Company Acquisition Act, 1979. HPCL was listed on BSE and NSE in the year 1992. In the year 2003, the Supreme Court of India stopped the privatisation of HPCL without parliamentary approval. On 19th July 2017, the Government of India announced the acquisition of HPCL by ONGC. HPCL was granted a Maharatna status in October 2019.
Current Status
HPCL has a strong downstream presence in India’s hydrocarbon sector. Its refinery infrastructure features Mumbai refinery with a capacity of 9.5 MMTPA, Visakhapatnam refinery with a capacity of 13.7 MMTPA, Mumbai Lube refinery with a capacity of 428 TMT, MRPL refinery with a capacity of 15 MMTPA and HMEL refinery with a capacity of 11.3 MMTPA.
The company operates a network of 22,050 retail outlets, 6,353 LPG distributors, 5 lube blending plants, 56 LPG bottling plants, 307 lube distributors, 55 aviation fuel stations, 1,705 CNG outlets, 42 exclusive lube depots, 2 LPG import facility locations, 126 clearing and forwarding agents, 35 inland relay depots and 1,638 SKO dealerships. It also owns and operates a pipeline network of 4,435 kilometres.
Future Outlook
HPCL has an overall positive future outlook, driven by major capacity expansions, operational efficiencies and a shift towards sustainability. The company is looking to increase its biofuel production capacity to 300 TMT by 2027-28, in alignment with India’s energy transition goals.
