Hindustan Petroleum Corporation Limited
Hindustan Petroleum Corporation Limited is one of the major integrated oil refining and marketing companies in India. The company is a public sector undertakings headquartered in Mumbai, Maharashtra. They engaged in refining of crude oil and marketing of petroleum products. It operates through two segments: Downstream, and Exploration and Production of Hydrocarbons. The downstream segment engages in refining, marketing and transportation of petroleum products. It offers motor spirit, high-speed diesel and liquefied petroleum gas (LPG).
HPCL operates 2 major refineries. They are the west coast refinery in Mumbai and east coast refinery in Vishakapatanam. HPCL refineries upgrade the crude petroleum into many value-added products. The Value-added products from crude petroleum like petrol, diesel, kerosene, liquefied petroleum gas, naphtha, etc. Mumbai is largest lube refinery in India. It produces superior quality lube base oils.
The company’s product and service includes refineries, International trade, retail, aviation, bulk fuels & specialities, lubes( HP Lubes ), LPG( HP Gas ), product pipelines, alternate energy.
HPCL has grown to be a strong player in the hydrocarbon sector. It was one of the first companies to understand the nation’s energy requirements. They operates 119 regional offices and they have 6.17 crores LPG consumers.
ONGC is likely to take control of HPCL as a part of the government announcement to create an integrated public sector oil entity. The government will transfer 51.11 per cent of their HPCL shares to ONGC.
HPCL reported a 31% increase in the net profit for the fourth quarter of 2016-17 is Rs. 1,819 crore corresponding to the 1,388 crore reported quarter of 2015-16. The revenue for the quarter came in at Rs. 57036 crore, registering 31% yoy increase. The market capital of BPCL is Rs 109,048.34 crore.