History of Hindustan Petroleum Corporation Ltd.
1952
- The Comp. 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 Comp. was changed to its present name Hindustan Petroleum Corporation Limited., by virtue of Lube India and ESSO Standard Refining Comp. of India Limited Amalgamation Order 1974 dated July 12, passed by Comp. Law Board, Department of Company Affairs, GOI, New Delhi & as published in the Gazette of India Extra-Ordinary GSR No.320[Es] dated July 15. A certificate to this effect was issued by Registrar of Companies, Mumbai on September 4th.
1976
- With the nationalisation of Caltex Undertakings in India the same were also taken over by Government of India & subsequently merged with HPCL.
1979
- The undertakings of Kosangas Comp. limited were merged with HPCL. As part of disinvestment in PSUs, shares of HPCL were sold by the Government to Financial Institutions, Mutual Funds & 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 & Individual Shareholders.
-It has co-promoted several joint ventures like Mangalore Refinery & Petrochemicals [MRPLs], Hindustan Colas, Petronet India, Punjab Refinery Project, Visakh Power Project, Prize Petroleum Co and 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 & 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 and Petrochemicals Ltd., is the first joint sector refinery being set up in the country after the Government has allowed entry of 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 & 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 & Govt. of Sultanate of Oman, HPCL & 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 & Oman Oil Comp. to form a Joint Venture Company. Accordingly, on March 4, Hindustan Oman Petroleum Comp. limited [HOPCLs] was incorporated. The project is estimated to cost approx. Rs. 4426 crores [at June pricess] & both promoters will have a 26% stake each in the equity. - A Memorandum of Understanding has been was signed on May 24th between HPCL & Colas S.A., France for implementing a project for setting up a Bitumen Emulsions plant. This was followed by execution of Joint Venture agreement on November 25th. It is proposed to form a Joint Venture Comp. [JVCs] 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 Comp. entered into a tie up with Exxon, a leading oil Comp. for blending & marketing EESO brand of lubes.
1995
- During February, the Comp. issued 173,50,000 equity shares of Rs.10 each with detachable warrants of Rs.380 each as follows.
- a. On firm allotment basis:
- is] 34,70,000 equity shares with warrants to Indian Financial institutions
- iis] 3,35,000 shares with warrants to Indian Mutual Funds.
- b. Preferencial allotment basis:
- is] 17,35,000 shares with warrants to share to employees
- iis] 17,75,000 shares with warrants to shareholders of company,
- iiis] 34,70,000 shares with warrants to NRIs, balance 66,05,000 shares were issued to the public.
- During the year Comp. entered into a MOU with Saudi Arabian Oil Co.[Saudi Armacos] for setting up a 1 million tonnes p.a refinery Punjab. Armaco would contribute to the extent of 26% in the equity capital of company.
- During the year Comp. 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 Comp. 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 [HPCLs] 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 equity capital will be just over 51 per cent, ruling out further dilution in the company capital in the near future.
- HPCL has signed an MoU with the government for execution of four projects, the Vizag refinery expansion project, Vizag-Vijaywada pipeline project, diesel hydro de-sulphurisation projects at Mumbai and Vizag & Punjab refinery project.
- The ministry of petroleum & natural gas has set up an expert committee on 15th September, to enquire into the causes leading to the breakout of fire at HPCL Vishakapatnam refining plant.
- The joint venture between Hindustan Petroleum Corporation Ltd & 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 [HPCLs] has signed a commercial agreement with Kondapalli Power Corporation Ltd [KPCLs] for supply of naphtha for latter 355-MW combined cycle power generation unit at Kondapalli in Krishna district of Andhra Pradesh.
- Hindustan Petroleum Corporation Ltd [HPCLs] has awarded the contract to build the refinery to South Korea Hyundai Heavy Industries.
- Hindustan Petroleum Corporation [HPCLs] is believed to have signed an agreement with Esso Mauritius for marketing the latter range of lubricating oils here.
- Hindustan Petroleum Corporation Ltd [HPCLs] has set up a joint venture company with domestic financial institutions [FIss] for oil & gas exploration both in the country & abroad.
- Hindustan Petroleum Corporation Limited has commissioned its state-of-the-art modern LPG filling plant at Usar, Alibagh.
- State owned Hindustan Petroleum Corporation [HPCLs] joint venture with Aditya Birla Group, Mangalore Refineries & Petrochemicals Ltd [MRPLs], is keen to set up an independent marketing network.
1999
- American Express & Hindustan Petroleum Corporation has signed a memorandum of understanding [MoUs] for card acceptance at various gas stations.
- Hindustan Petroleum Corporation Ltd [HPCLs] & Gas Authority of India Ltd [GAILs] have entered into an agreement for setting up a liquefied petroleum gas [LPGs] pipeline & infrastructure from Visakhapatnam to Secunderabad via Rajamundry & Vijayawada.
- The Foreign Investment Promotion Board [FIPBs] has allowed the joint venture of Hindustan Petroleum Corporation [HPCLs] & Total of France, to set up LNG terminals & venture into downstream activities such as marketing of petro-products, etc.
- Hindustan Petroleum Corporation Ltd [HPCLs] is celebrating its silver jubilee year with 'Shakti Utsavs' in major Indian cities.
2000
- Scheme of amalgamation of Industrial Perfumes limited with the company is effective from 9th February, with retrospective effect from 1st January, 1999.
- The Comp. signed a confidentiality agreement with Totalfina of France to look at downstream areas, including retailing, once the domestic oil sector is opened up.
- The Comp. has decided to float a joint venture information technology Comp. for its e-commerce & other internet based services foray.
- The Comp. will set up a Rs 2900 crore power project in Visakhapatnam as part of company difversification strategy.
- HPCL has signed a business initiative with internet service provider [ISPs] Satyam Infoway limited 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 & the Comp. as the official beverages supplier for their 'Speednet project'.
- Mangalore Refinery & Petrochemicals, the joint venture between Hindustan Petroleum Corporation & 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 largest private Internet Service Providers, Satyam Infoway and Hindustan Petroleum Corporation limited have forged an alliance to set up cyber kiosks at various petrol pumps across the country.
- Hindustan Petroleum Corporation limited has entered the Bangladesh lubricants market with a range of its diesel engine & motor oil.
- Hindustan Petroleum Corporation limited along with ZIP Telecom, front-end operator of Hughes Ispat, will set up public access telephone booths at HPCL retail outlets across Maharashtra.
- The Comp. has set up two regional offices in Jamshedpur as part of its strategy to focus on improving services.
- A subsidiary Comp. '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 Comp. with 51% stake.
2001
- Hindustan Petroleum Corporation limited has introduced its smart card in Bangalore for 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 Corporation.
-M B Lal appointed as Chairman and M D of HPCL.
-Hindustan Petroleum Corporation Ltd has informed that Shri Naresh Narad, Special Secretary, Ministry of Petroleum and Natural Gas has ceased to be a part time ex-officio Director of Corporation with effect from November 11, 2002 consequent upon his movement from Ministry of Petroleum and Natural Gas, as Secretary, Ministry of Heavy Industries and 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 [Finances] of corporation passed away on December 26, 2002 after a brief illness.
- Approves Mangalore Refinery and Petrochemicals limited [MRPLs] control to Birlas
- HPCL is introducing a new system at its 6,000-odd retail outlets across the country. The Comp. plans to set up facilities enabling customers to buy original spare parts & accessories for car
- Ties-up with Gas Authority of India Ltd [Gails], Oil & Natural Gas Corporation [ONGCs] to purchase LPG
- Ties up with Lubrizol for its own brand of high-performance petrol, branded 'Power'
- Unveils branded petrol, diesel [Power and Turbojet respectivelys]
- HP unveils new retail brand - 'Club HP' through which it intends to offer quality personalised vehicle & consumer care through select outlets
- FedEx inks one-year agreement with HPCL to set up transportation services at HPCL 100 'Club HP' retail outlets in eight cities in the country
- HPCL & GAIL sign agreement for formation of new JV Comp. to distribute & market environmentally friendly fuels in & around the cities of Andhra Pradesh
2003
- Cabinet Committee on Disinvestment [CCDs] decides to divest 34.01 per cent equity in Hindustan Petroleum Corporation Ltd [HPCLs] 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 & Petrochemicals Ltd [MRPLs] 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 [HPCLs]
- 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 gass] 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 [ATFs] business
- Government of India appoints Mr. C Ramulu as Director - Finance of Corporation
- Signs agreement with Oil and Natural Gas Corporation [ONGC s] for sourcing crude oil
---HPCL bags eighth slot among `Top 10' in Asiamoney corporate governance poll on Asian companies in the energy sector. And joined the club of select few Asian companies.
-Unveils Smart Card which a customer could use to pay for petrol or diesel bought at HPCL outlets
2004
-HPCL - Marketing Initiatives in Sri Lanka
- Hindustan Petroleum Corporation Ltd [HPCLs] has formed a 50:50 joint venture with Total Gas & Power India [TGPIs], 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 & infrastructure sharing between the two companies
-Signs agreement with US Pizza, a pizza outlet, which would be opening over 500 delivery units at HPCL 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 [HPCLs], 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 [HPCLs] to produce electricity generators, which run on LPG
-HPCL launches unique smart card
-Hindustan Petroleum Corporation signs MoU and Confidentiality agreement with Chevron Texaco
2005
-HPCL signs MoU with RCF [Rashtriya Chemicals Fertilisers Ltd s]
-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 Petroleums] 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 & outer lid pressure cookers & gas stoves.
2007
-Hindustan Petroleum Corporation Ltd [HPCLs] has informed that Shri. Arun Balakrishnan earlier Director [HRs] has taken charge as Chairman and Managing Director of Comp. effective April 01, 2007 [AMs].
-Hindustan Petroleum Corporation Ltd [HPCLs] & ONGC have signed a Memorandum of Understanding [MoUs], covering Product Sale Purchase, Infrastructure Services & Co-operation in Energy and related fields.
-Hindustan Petroleum Corporation Ltd [HPCLs] has informed that Shri. P V Rajaraman, retired IAS Officer & former Chairman of Tamilnadu Industrial Investment Corporation has been co-opted as part-time 'Non-officio' Director on the Board of Company.
- Mr V. Vizia Saradhi assumed charge as the Director, Human Resources, of HPCL on Aug 3.
- Hindustan Petroleum Corporation Ltd [HPCLs] has informed that Shri. V Viziasaradhi has been appointed as Director - Human Resources on the Board of Comp. effective August 03, 2007 [PMs].
2008
-Hindustan Petroleum Corporation Ltd [HPCLs] has informed that Shri. L N Gupta, Joint Secretary - Refineries, Ministry of Petroleum and Natural Gas [MOP&NGs] has been co-opted as part-time ex-officio Director on the Board of HPCL at the Board Meeting held on June 25, 2008 [PMs].
