Hindustan Petroleum Corporation

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