HP PETROL PUMP - KASYAP & SONS CNG PUMP

Chatrapal Singh 23 months ago

Hindustan Petroleum Corporation Limited (HPCL) is a subsidiary of Oil and Natural Gas Corporation which is under the ownership of Ministry of Petroleum and Natural Gas of the Government of India with its headquarters in Mumbai, Maharashtra. It has a 25% market-share in India among public sector undertakings (PSUs) coupled with a strong marketing infrastructure. Its parent company is ONGC which owns a majority stake in the company.[3][4][5][6] The company is ranked 367th on the Fortune Global 500 list of the world's biggest corporations as of 2016. HPCL was removed from NIFTY 50 INDEX in March 2019 [7] On 24 October 2019, the company became a Maharatna PSU.

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 financial year 2012–2013. During FY 2013-14, its net profit was ₹1740 crores.

Yash Goswami 16 months ago

don't visit this petrol pump

Parvez Mew 12 months ago

Good