What it does: It is engaged in Refining, Storage, Distribution and Marketing of petroleum products and is a major player in the hydrocarbon industry in India.
Vision: To be a world-class energy company known for caring and delighting the customers with high-quality products, innovative services across domestic & international markets with aggressive growth and delivering superior financial performance.
The company will be a model of excellence in meeting social commitment, environment, health and safety norms and in employee welfare & relations
Mission: HPCL along with its joint ventures will be a fully integrated company in the hydrocarbons sector of exploration and production, refining and marketing; focusing on enhancement of productivity, quality & profitability, caring for customers and employees, caring for environmental protection and cultural heritage. It will also attain scale dimensions by diversifying into other energy-related fields and by taking up transnational operations
Size and presence: Around 10,352 (2020) throughout India
Best known for: Hindustan Petroleum Corporation Limited (HPCL) is a Maharatna Central Public Sector Enterprise (CPSE) and an S&P Global Platts Top 250 Global Energy Company. HPCL has a strong presence in the downstream hydrocarbon sector of the country with a sizable share in petroleum product marketing and also has business footprints across other energy verticals & various overseas geographies.
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 the Government 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 privatising 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 nationalised in the 1970s. As a result, the government would need a majority in both houses to push through any privatisation.[9]
HPCL has been steadily growing over the years. The refining capacity increased from 5.5 million metric tonnes (MMT) in 1984/85 to 14.80 million metric tonnes as of March 2013. On the financial front, the net income from sales/operations grew from ₹2687 crores in 1984–1985 to ₹2,06,529 crores in the financial year 2012–2013. During FY 2013-14, its net profit was ₹1740 crores.
Social Contributions
HPCL supports projects that create empowered individuals and communities through sustainable social and economic development. Our Initiatives are broadly classified under Focus Areas: Child-Care, Education, Healthcare, Skill Development, Environment & Community Development and Sports. The initiatives have further strengthened the image of the corporation as a socially responsible Corporate Citizen. Corporation has been very successful in bringing positive changes in the lives of the most vulnerable and marginalized sections of society such as children with special needs, Girl Child from tribal areas, Long-distance truckers, Socially-disadvantaged groups, unemployed & women etc.