History of Chennai Petroleum Corporation Ltd.
1965
- The Comp. was Incorporated on 18th November. A formation agreement was signed on 18th November between Government of India, National Iranian Oil Comp. [NIOCs] Iran and Amoco India Inc. USA for setting up Madras Refineries Ltd.
- With the commissioning of cauvery basis refinery, capacity was enhanced to 7 million TPA & with this the Comp. became multilocational.
1991
- An agreement for supply of Anti-oxidants Feedstock to Balmer Lawrie & Co. limited Chennai was signed in September & the first supply was successfully effected in March 1992.
- The Government of India has given approval to MRL in July for setting up Gas Sweetining & LPG Separation facilities at Nagapattinam.
1992
- MRL signed, for second consecutive year, a Memoraandum of Understanding [MoUs] with Goverment of Inida for year 1991-92.
- During the year, the Comp. crossed 1.2 million accident free employee manhours which was accrued in 172 continous working days.
- In collaboration with Anna University, MRL has prepared a curriculum on 'Safety & Hazards Control in Petroleum Industry' for the Post-Graduate Course in Petroleum Refining.
- The Hexane Plant with a prodction capactiy of 25,000 Metric Tonnes per annum has been commissioned.
- A Sewage Water Treatment Plant with capacity of 2.5 MGD has been commissioned
- As a part of pollution control measure, the effluent treatment plants were modernised to treat the effluents of refinery for meeting the Minimum National Standards [MINASs].
- The old refinery instrumentation control has been modenised. This includes ON-Link Tank Level Information System, the first of its kind in India.
- The Comp. proposes to take up a revamp programme & install the hydro-finishing unit.
- MRL has developed gardens & traffic islands which have received prizes in various competitions. It is proposed to have a green belt around the new Cauvery Basin refinery site at Panagudi, near Nagapattinam.
- The Comp. entered into a long term wage settlement with the non-supervisory employees of Comp. represented by Chennai Refinerires Employees Union valid for four years effective 1st January 1990.
1993
- As per the meeting held on 11th November, a separate offer of 53,83,000 shares aggregating Rs 4306,40,000 to NIOC at Rs 80 per share was made.
- The Comp. proposed to set up a 350 MW power project in joint venture at a Manali by utilising available refinery residue as fuel.
- 1141,31,100 No. of equity shares issued subscribed & paid up. During 1994, the Comp. issued 266,55,300 No. of equity shares at a premium of Rs 70 as follows [is] Firm allotment basis 59,23,400 shares to Mutual Funds; [iis] 59,23,400 shares to Indian fin. Insts; [iiis] 29,61,700 shares to Foreign Fin. Insts; [ivs] The balance were issued on preferential basis. [as] 41,46,300 shares to NRIs; [bs] 3,40,000 shares to employees. Balance 103,22,200 shares to public.
1995
- A new boiler for co-generation of 130 T/HR capacity to meet the increased stream load was commissioned.
- The Comp. proposed to undertake continuous catalytic reformer project to meet zero lead & other changed specification of petrol introduced by Government of India. Also studies were underway for the setting up of 250 MW power project at Manali in collaboration with CEA India Inc. of USA.
- The Comp. proposed to set up a 3 million tpa project at Manali at a cost of Rs 1700 crores. 1996
- The Comp. commissioned the LPG separation unit and steam turbo generator was commissioned at CBR.
- The Comp. obtained the first stage clearance from Government of India to expand its refining capacity at Manila by another 3 MMTPA thereby making the refining capacity of Comp. to 10 MMTPA.
- With the view to augment crude availability for CBR, it was proposed to install crude receipt facilities at Nagapattinam for improving crude upto 1.0 MMTPA per annum.
1997
- In the field of LOBS, the Comp. launched 500N grade of LOBS based on customer demand.
- The project to increase the existing wax deoiling unit plant capacity from 20,000 tpa to 30,000 tpa at a cost of Rs 41.32 crores was commissioned.
- The Comp. offered 53,83,000 equity shares of Rs. 10 each at a premium of Rs. 70 per share on private placement basis pursuant to an agreement between the Government of India & M/s National Iranian Oil Company [NIOCs].
- The Comp. obtained clearance from the Govt. to expand the capacity at Manali by another 3 million tonnes per annum.
- The Company R&D sponsored a project on `Production of tube stocks from Waxy Crudes' at NCL Pune.
- The Comp. sponsored a project at Indian Institute of Petroleum for cube character solution & additive response studies.
- The centre in collaboration with EIL & Indian Institute of Petroleum developed a process package for NMP - Lube Extraction Technology.
- As a part of indigenisation of reverse osmosis membranes in collaboration with Central salt & marine chemicals research institute the R&D unit commissioned a reverse osmosis pilot plant of 50,000 litres per day capacity to study the membrane performance.
- MRL was formed as a joint venture between the Government of India [GOIs], Amco India Inc. USA and National Iranian Oil Comp. [NIOCs], Tehran, Iran with initial equity contribution in the ratio of 74:13:13.
- The Comp. offered 53,83,000 No. of equity shares of Rs 10 each at a premium of Rs 70 per share on private placement basis pursuant to an agreement between the Government of India & M/s National Iranian Oil Company.
- The Comp. received a sum of Rs 2786,00,000 from NIOC and accordingly 34,82,500 No. of equity shares were allotted to NIOC. The balance of 19,00,500 shares were to be allotted on receipt of balance amount.
- Madras refineries Ltd has signed a memorandum of understanding with the Ministry of Petroleum & Natural Gas for 1997-98.
- The joint sector Southern Petrochemical Industries Corporation Ltd [SPICs] has proposed to go along with the State-owned Madras Refineries Ltd [MRLs] to implement the PFY project in Tamil Nadu.
- Around 800 workers of Madras Refineries Limited went on a tool-down strike following a call by executive committee of Madras Refineries Employees Union [MREUs].
- The Comp. had suspended the general secretary & the joint secretary [Manali units] of union following an incident during negotiations with the management, when the two poured kerosene on themselves & threatened to commit self-immolation if the management did not concede their demands.
- Another joint venture is also considered between Petronas, IOC and MRL for setting up an underground cavern storage facility at the Ennore liquefied natural gas import station.
- CARE has assigned a PR+ rating to the CP programme of Rs 25 crore of Madras Refineries Ltd & has retained in PR1 + rating assigned to the intercorporate borrowing of Rs 125 crore.
1998
- The Comp. proposed to set up a permanent jetty facility to make available the required quantiuty of crude at Cauvery basin, Nagapattinam.
- The Comp. signed a MOU with Indian Oil Corporation Ltd to work jointly on projects of mutual benefit including a refinery project in Southern India, identify various projects fore collaboration including pursuance of techno-economic Feasibility reports & on estabhlishing the Techno-economic viability of identified projects from joint venture companies to implement the same.
- Madras Refineries Ltd [MRLs] has signed a memorandum of understanding [MoUs] on May 22 with the Union Government for 1998-99.
- Madras Refineries Ltd [MRLs] has opted for 20 per cent equity in the roughly 350 km-long Chennai-Trichy-Madurai product pipeline, being set up by Petronet India Limited.
1999
- The Tamil Nadu Electricity Board signed a power purchase agreement with Madras Refineries Ltd.
- Madras Refineries Ltd has reached an agreement with two SPIC group companies - Manali Petrochemicals Ltd [MPLs] & SPIC Organics Ltd [SORLs] - under which the two companies would withdraw their cases against MRL relating to a dispute over pricing of propylene.
- The Comp. has signed a tripartite agreement with CDSL & Karvy Consultants Ltd, share transfer agent of company, for purpose of admission of equity shares of Comp. to the depository system of CDSL.
2000
- Indian Additives limited a joint venture of company, & Chevron Chemical Comp. US, has ceased to be a subsidiary of company.
- The Comp. has changed its name to Chennai Petroleum Corporation limited [CPCLs] with effect from 6th April.
- The Comp. has signed a MoU with Indian Institute of Safety and Environment, Chennai to conduct Safety courses.
- The Comp. has shut its 70,000-barrel-per-day No. 1 crude distillation unit to correct a technical fault.
- The Symbol of Comp. shall be changed from MADRASREFN to CHENNPETRO effective from August 9.
- The Comp. is expanding the capacity of its Cauvery Basin Refinry at Panangudi near Nagapattinam to one million tonne from the current 0.5 million tonne.
- Chennai Petroleum Corporation limited [CPCLs] was given the award for 'the Best Employer-Employee Relationship' by Rotary Club of Chennai.
- The Chennai Petroleum Corporation limited has launched crumb rubber modified bitumen for laying high quality & cost effective roads.
2001
- The Chennai Corporation & EDL India Pvt. limited entered into an MoU, to set up a 14.85 MW waste-to-energy project using municipal solid waste.
- There was a fire in the FCC unit of Manali refinery on February 20. The fire was completely put out within 50 minutes & the unit was shut down.
- Chennai Petroleum Corporation limited has signed an MoU with the Union Ministry of Petroleum & Natural Gas for 2001-02.
2002
- Chennai Petroleum Corporation Ltd has informed that Mr L Sabaretnam, CEO of ICL Sugars Ltd has been appointed as a Part-time Non-Official Independent Director on the Board of company.
-Gowrishankar ceases to be a Director of Chennai Petroleum Corporation.
-Chennai Petroleum Corporation Ltd has informed that Mohit Sinha ceased to be a Director on the Board of company.
-Chennai Petroleum Corporation Ltd has informed BSE that Mr M B L Agarwal, Executive Director [Internal Audits], Indian Oil Corporation Ltd ceased to be a Director on the Board of Chennai Petroleum Corporation Ltd [CPCLs] effective August 01, 2002. In his place, Mr T L Jain, Executive Director [Southern Regions] Indian Oil Corporation Ltd, has been appointed as a part time Director on the Board of CPCL.
-Chennai Petroleum Corporation Ltd has informed BSE that pursuant to letter from the Ministry of Petroleum & Natural Gas, Government of India, Mr S V Narasimhan, Director [Finances] Chennai Petroleum Corporation Ltd has assumed additional charge of post of Managing Director, CPCL effective October 01, 2002 consequent to the superannuation of Mr S Rammohan Chairman & Managing Director of Company.
-Chennai Petroleum Corporation Ltd has informed BSE that Mr M S Ramachandran, Chairman, Indian Oil Corporation Ltd & Mr A K Arora Director [Refineriess], IOCL have been appointed as part time Directors on the Board of CPCL effective October 01, 2002.
-S V Narasimhan appointed as MD of Chennai Petro.
-2003
- Chennai Petroleum Corporation Ltd has informed BSE that Mr R Sankaran, General Manager [Projects and Developments] of Comp. has assumed charge of post of Director [Technicals] of Comp. with effect from January 01, 2003 in place of Mr M P Srinivasan who has superannuated on December 31, 2002.
-Chennai Petroleum Corporation Ltd has announced following changes in its Board:
Mr P S Rao, Executive Director, Indian Oil Corporation Ltd has been appointed as part time director on the board of CPCL in place of Mr A K Mishra effective June 1, 2003.
Mr Chandan Dasgupta, Executive Director, Indian Oil Corporation Ltd has been appointed as a part time director on the Board of CPCL in place of Mr T L Jain effective june 1, 2003.
-Chennai Petroleum Corporation has informed BSE that the Comp. has set up a Crude Oil Jetty Facility within the ports of Nagapatnam at the cost of Rs960 million to meet crude oil requirements of Cauvery basin Refinery.
-Mr.Jaspal Singh,Director [Indian Oil Corporations] & Prabha Das have been appointed as the part time Directors on the Board of CPCL.
-Mr.Mahmood Vaezi of International Policy, Centre for Strategic Research,Naftrian Intertrade Comp. Ltd, Tehran, Iran has been nominated as the Director on the Board of company.
-Mr.K.Skandan, Secretary to Government of TamilNadu, Industries Department has been appointedas part time Independent Director on theBoard of CPCL.
-Mr. K Skandan, IAS, ceased to be a Director
-The Chennai Port Trust has signed an agreement with various oil companies, including Chennai Petroleum Corporation Ltd [CPCLs], to set up a Tier i Oil Spill Response facility at the Chennai port.
2004
-Chennai Petroleum Corporation Limited has informed that equity shares of Comp. have been delisted from The Stock Exchange - Ahmedabad wef January 19, 2004.
1. Mr. N.C. Sridharan, General Manager [Finances] will hold additional charge of post of Director [Finances] w.e.f. January 20, 2004 for a period of three months or until further order, whichever is earlier, in addition to his own duties, as communicated by Ministry of Petroleum & Natural Gas vide letter dated January 12, 2004.
2. Mr. R. Sankaran, Director [Technicals] will hold additional charge of post of Director [Operationss] w.e.f. February 1, 2004 for a period of six months or until further order, whichever is earlier, in addition to his own duties, as communicated by Ministry of Petroleum & Natural Gas vide letter dated January 12, 2004.
-Chennai Petroleum Corporation Ltd has informed that its equity shares have been delisted from the Delhi Stock Exchange Ltd [DSEs] w.e.f. February 19, 2004.
-Chennai Petroleum Corporation Ltd has informed that Mr A Kasturi Rangan Executive Director [Operationss], Chennai Petroleum Corporation Ltd has been appointed as Director [Operationss], Chennai Petroleum Corporation Ltd
2005
-Equity shares of Comp. have been delsited from The Calcutta Stock Exchange Association Limited w.e.f December 09,2004.
-IOC inks pact with CPCL to provide project consultancy on crude pipeline
