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Hindustan Petroleum
Hindustan Petroleum Corporation Limited (HPCL) (, ) is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra and with (Navratna ) status. HPCL has been ranked 260th in the Fortune Global 500 rankings of the world's biggest corporations (2013) and 4th among India's Companies for the year 2012.〔(【引用サイトリンク】title= Hindustan Petroleum )〕 HPCL has about 25% marketing share in India among PSUs and a strong marketing infrastructure. The Government of India owns 51.11% shares in HPCL and others are distributed amongst financial institutes, public and other investors.
==History==
HPCL was incorporated in 1974 after the takeover and merger of Erstwhile Esso Standard and Lube India Limited by the (Esso (Acquisition of Undertakings in India) Act 1974 ). Caltex Oil Refining (India) Ltd.- CORIL was taken over by Govt. of India. in 1976 and merged with HPCL in 1978 by the (CORIL-HPCL Amalgamation Order, 1978 ). Kosan Gas Company was merged with HPCL in 1979 by the (Kosangas Company Acquisition Act, 1979 ).
In 2003, following a petition by the Centre for Public Interest Litigation (CPIL), the Supreme Court of India restrained the Central government from privatizing Hindustan Petroleum and Bharat Petroleum without the approval of Parliament. As counsel for the CPIL, Rajinder Sachar and Prashant Bhushan said that the only way to disinvest in the companies would be to repeal or amend the Acts by which they were nationalized in the 1970s. As a result, the government would need a majority in both houses to push through any privatization.
HPCL has been steadily growing over the years. The refining capacity steadily increased from 5.5 million metric tonnes in 1984/85 to 14.80 million metric tonnes (MMT) as of March 2013. On the financial front, the Net income form Sales/operations grew from IN 2687 crores in 1984-85 to IN 2,06,529 crores in financial year 2012-13. During FY 2013-14, its net profit was IN 1740 crores.
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