Hindustan Petroleum Corporation of India Ltd is a Fortune 500 company, with an annual sales turnover of over Rs 93912.34 crore (Rs 939.12 billion) with 16 per cent refining and marketing share in India and a strong market infrastructure.

The corporation operates 2 major refineries producing a wide variety of petroleum fuels and specialties, in Mumbai and Vishakapatnam. HPCL holds an equity stake of 16.95 per cent in Mangalore Refinery & Petrochemicals. In addition, HPCL is planning to set up a refinery in Punjab.

HPCL also owns and operates the largest lube refinery in India. HPCL's refining capacity has increased from 5.5 million tonnes in 1984/85 to 13.70 million metric tonnes (MMT) now. On the financial front, the turnover grew from Rs 2,687 crore (Rs 26.87 billion) in 1984-85 to an impressive Rs 91,448 crore (Rs 914.48 billion) in 2006-07.

The history of HPCL dates back to 1952. The company was incorporated in the name of Standard Vacuum Refining Company of India Limited on July 5, 1952. On 31st March 1962, the name was changed to ESSO Standard Refining Company of India Limited.

In 1974, Hindustan Petroleum Corporation Limited came into being after the takeover and merger of erstwhile Esso and Lube India Undertaking, Caltex Oil Refining Ltd and Kosan Gas Company. HPCL is thus a result of the merger of four organisations.

HPCL's maxim is 'Future full of Energy'.

Image: An oil refinery. | Photograph: Qassem Zein/AFP/Getty Images