Hindustan Petroleum Corporation Ltd:
Hindustan Petroleum Corporation Limited is engaged in marketing and refining petroleum products in the Indian region, as well as internationally. The company controls the downstream petroleum and another aspect. It provides different petroleum products such as diesel, kerosene and petrol, naphtha lubricants and petroleum gas. The company also offers household insecticides, bitumen; aviation fuels that also very much important for many industries.
Hindustan Petroleum Corporation limited imports of crude oils and exports different petroleum products to the overseas country. The company is trading internationally for importing and exporting petroleum products from several countries. It has been controlling petrol pumps and providing transportation services for carrying petroleum products.
Hindustan Petroleum Corporation limited mainly manufactures hydrocarbons for industrial purposes and also has planted for manufacturing ethanol-cogent. The company operates wind power plants in many states of India. Hindustan Petroleum Corporation Limited was founded in 1952. The business operations are based in Mumbai.
About Company Information:
In 1952, Hindustan Petroleum Corporation Limited started its business operations. The company was formerly known as Standard Vacuum Refining Company. In this year the company changed its name to ESSO India. In the same year, the company got nationalized. The Indian government has a fair share in the business operations of the company.
During the year of 1974 to1979, Standard Vacuum Refining Company renamed to Hindustan Petroleum Corporation Limited. Nationalization of the Caltex undertaking was done in the year of 1976. The company collaborated with the Petroleum Corporation in 1978. In 1979, the Kosan Gas Company had entered into a joint venture with the company.
During 2000 to 2002 the Hindustan Petroleum Corporation limited introduced a solely-owned subsidiary company, namely Guru Gobind Singh Refineries. In 2002 the new subsidiary company finished the pipeline project, which started from Vijayawada and ended up in Secunderabad. The company started a plant of LPG bottling with the producing capacity of 44 MTPA, situated at Kota.
During 2004 to 2005, Hindustan Petroleum Corporation limited implemented 15 tank trucks which were used for the transportation of petroleum products. In this year, a grassroots depot was constructed by the company. It cost them 10.25 crore. In the same year, another grassroots depot was constructed, situated at Ramagundam. The company launched the CLUB HP outlets, which became a very famous brand in future. The company also commissioned additional tankage of over 13000 KL. In the same year, the company came up with Turbojet, a branded diesel and also other branded petrol had been launched by the company.
During 2005-2006 the Mumbai Refinery of Hindustan Petroleum Corporation limited had taken a megaproject costing approximately Rs.1850 crore. Even in this period, the Visakhapatnam Refinery of the company had taken over the Clean Fuel Project. This had cost the company Rs.2147.8 crores. In this time, the company commissioned over 640 outlets.
During 2008-2009, the Hindustan Petroleum Corporation limited started to produce Euro-III/IV Petrol in the refineries. The efficient machinery was installed because of the production. In 2008 the company promoted the alternative fuels and because of that, it had started a subsidiary company named CREDA-HPCL Biofuel Limited. 26% of the equity share of the company had been held by the state government agency of Chattisgarh. Rest of the equity share had been owned by the company.
In 2017, the Board of Directors of Hindustan Petroleum Corporation limited gave a decision about the recommencement of the Memorandum of Understanding, which had been signed between the company and the Rajasthan State government, for the Rajasthan Refinery Project. For completing the project, the company had to set up grassroots refineries, having a capacity of 9 MMTPA, in the different districts of Rajasthan. In the same year, the company achieved the highest production of crude oil.
In 2019, Hindustan Petroleum Corporation Limited has been controlling 133 regional offices. The company has 68 depots, 43 aviation facilities, 49 plants of LPG bottling and 15,440 retail outlets. The company has also acquired 5866 distributors LPG and 42 terminals.
How Hindustan Petroleum Corporation Ltd, is categorised as Petroleum Sector, and Refineries Industry :
The electrical equipment sector in India plays a pivotal role in the Indian economy, contributing direct employment to more than half a million persons and indirect employment to over a million. In recent years, the electrical equipment sector has witnessed sluggish growth owing to the decline in domestic demand and an increase in imported products. Electrical equipment is widely classified as generation equipment, transmission & distribution (T&D) equipment and other allied equipment.
Hindustan Petroleum Corporation Ltd is categorised as Petroleum Sector and Refineries Industry. The Electrical Equipment Industry comprises of companies that manufacture a range of products for a diverse customer base. The products include electrical motors, heating, ventilation and air conditioning systems and components, commercial and industrial lighting fixtures, and, among others, electrical power equipment. As the government prepares to meet the demand of power to every house in the nation, the investors in power generation and transmission & distribution is bound to rise. This will present a window of opportunity for domestic power equipment manufacturers.
Hindustan Petroleum Corporation Ltd, Competitors and Sector Peers:
Bongaigaon Refinery & Petrochemicals Ltd.[Merged] BONREF
Cals Refineries Ltd. CALLTD
Chennai Petroleum Corporation Ltd. CHEPET
Hindustan Petroleum Corporation Ltd. HINPET
Indian Oil Corporation Ltd. INDIOI
Kochi Refineries Ltd.(Merged) KOCREF
Mangalore Refinery And Petrochemicals Ltd. MANREF
Reliance Industries Ltd. RELINL
Reliance Petroleum Ltd.(Merged) RELPEL
