Hindustan Petroleum
An Indian public-sector oil and gas company engaged in refining, fuel marketing, lubricants, LPG, aviation fuel and related energy infrastructure.
Last updated November 4, 2026
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Overview
Hindustan Petroleum Corporation Limited, commonly known as HPCL, is one of India's major public-sector oil and gas companies. Headquartered in Mumbai, it operates across the downstream energy value chain, with activities spanning crude-oil refining, petroleum-product marketing, lubricants, liquefied petroleum gas, aviation fuel, pipelines, storage, retail distribution and selected exploration and production interests. Its principal consumer-facing presence is the HP brand, visible through fuel stations, LPG distribution, lubricant products and commercial fuel services throughout India. The company's corporate history reflects the successive nationalisation and consolidation of private petroleum assets in India. Its predecessor was incorporated in 1952 as the Standard Vacuum Refining Company of India. Following changes in ownership and Indian petroleum policy, the business became associated with Caltex Oil Refining India Limited in the 1970s. The Government of India took over that undertaking in 1976, and it was merged with Hindustan Petroleum in 1978. Kosan Gas Company was subsequently absorbed in 1979, strengthening HPCL's position in liquefied petroleum gas. HPCL's core industrial assets include refineries on India's western and eastern coasts. Its Mumbai refinery produces transport fuels and lubricants, while the Visakhapatnam refinery serves the eastern market and has undergone major modernisation and expansion. HPCL also has interests in other refining ventures, including Mangalore Refinery and Petrochemicals Limited and the Guru Gobind Singh Refinery at Bathinda, Punjab. Through HPCL Rajasthan Refinery Limited, it is developing the Barmer refinery project in partnership with the Government of Rajasthan. The company's manufacturing footprint also includes lubricant and grease facilities, LPG storage, bottling plants, terminals, depots and a large network of petroleum-product pipelines. Marketing is central to the HPCL business model. The company sells petrol, diesel, aviation turbine fuel, LPG, lubricants, greases, specialty products and other refined petroleum products to households, motorists, transport operators, industrial customers, airlines and public-sector users. Its retail network is supported by zonal and regional offices, fuel terminals, aviation-service facilities, LPG distributors, inland depots and lubricant distributors. HPCL's lubricant portfolio includes products sold under names such as Laal Ghoda, HP Milcy, Thanda Raja, Koolgard and Racer4. Its consumer programs have included HP Drive Track Plus, a loyalty and payment-linked offering for fuel purchasers. Since 2018, HPCL has been a subsidiary of ONGC after ONGC acquired a majority shareholding from the Government of India. The transaction brought two large state-controlled energy companies under a closer corporate relationship while leaving HPCL as a separately listed company. In October 2019, HPCL received Maharatna status, a designation reflecting its scale and strategic importance among Indian public-sector enterprises. HPCL also maintains research, technology and transition-energy activities. Its HPCL Green R&D Centre in Bengaluru supports work related to fuels, lubricants, process improvement and newer energy technologies. Subsidiary and affiliated activities include gas, biofuels, LNG, exploration and production services, and refinery joint ventures. The company remains primarily a conventional petroleum business, but its infrastructure and research investments place it within India's broader effort to modernise refining, logistics and energy supply. HPCL's current role is therefore defined by a combination of state ownership, nationwide distribution, refinery expansion and gradual diversification into lower-carbon and adjacent energy businesses.
History
HPCL's origins reach back to 1952, when the Standard Vacuum Refining Company of India was incorporated. The company operated during a period when India's petroleum sector was gradually moving from foreign-controlled enterprises toward greater state direction. In the 1970s, petroleum assets were reorganised through nationalisation legislation and government acquisition. The business became Caltex Oil Refining India Limited, and the Government of India took over the undertaking in 1976. In 1978, Caltex Oil Refining India Limited was merged with Hindustan Petroleum under the CORIL-HPCL Amalgamation Order. The following year, Kosan Gas Company was acquired and merged into HPCL, expanding the company's LPG capabilities. These transactions helped create a national downstream oil company with refining, distribution and household-fuel operations. HPCL subsequently developed a broad Indian marketing network supported by refineries, terminals, depots, pipelines, aviation facilities, LPG bottling plants and retail outlets. Its Mumbai refinery became an important western-coast production base, while the Visakhapatnam refinery served eastern and southern markets. The company also built a substantial lubricants business, including base-oil production, greases and specialty products. In 2003, a petition by the Centre for Public Interest Litigation led India's Supreme Court to restrain the central government from privatising HPCL and Bharat Petroleum without parliamentary approval. The case highlighted the statutory foundations of the companies' nationalisation and constrained possible disinvestment routes. The ownership structure changed significantly in 2017–2018. The Government of India announced that ONGC would acquire a controlling interest in HPCL, and the Union Cabinet approved the transaction in November 2017. ONGC completed the acquisition of 51.11% of HPCL on 30 January 2018. HPCL remained listed and operational as a distinct company, but became part of the ONGC group. In October 2019, it was awarded Maharatna status. In later years, HPCL continued to expand and modernise its refining and logistics footprint. Its activities included the modernisation of Visakhapatnam, expansion plans for Mumbai, new and extended pipelines, LPG storage, the Barmer refinery project in Rajasthan and participation in refining ventures such as Mangalore Refinery and Petrochemicals Limited and the Bathinda refinery. The company also established or expanded research and transition-oriented activities through its green research centre, biofuels entities and LNG-related subsidiaries. HPCL's present business remains concentrated in India's downstream petroleum economy. It refines crude oil, distributes fuels and LPG, supplies aviation customers, manufactures lubricants and specialty products, and operates the infrastructure needed to move and store energy products. Its scale and state ownership make it an important instrument in India's fuel-supply system, while its listed status subjects it to public-market disclosure and corporate governance requirements. The company also faces the wider sectoral challenges of refining-margin cycles, energy-transition policy, emissions reduction, crude-sourcing compliance and the gradual growth of alternative fuels.
- 2019
Maharatna designation
[1]HPCL was granted Maharatna status by the Government of India.
- 2018
ONGC became majority owner
[1]ONGC acquired a 51.11% stake in HPCL and made it a subsidiary, while HPCL continued as a separately listed company.
- 2018
HPCL became an ONGC subsidiary
[4]ONGC acquired the Government of India’s controlling stake in HPCL, creating a major state-owned energy-group relationship while HPCL remained separately listed.
- 2003
Privatisation challenged in court
[1]Following public-interest litigation, the Supreme Court restricted privatisation of HPCL and Bharat Petroleum without parliamentary approval.
- 1984
Visakhapatnam refinery became part of HPCL’s refining base
[2]HPCL's downstream operations incorporated the Visakhapatnam refining business, strengthening its presence on India's eastern coast.
- 1979
Kosan Gas merger
[1]Kosan Gas Company was acquired and merged into HPCL, strengthening its LPG business.
- 1978
Merger into HPCL
[1]Caltex Oil Refining (India) Limited was merged with Hindustan Petroleum under a government amalgamation order.
- 1976
Government takeover and ownership consolidation
[1]The Government of India took over Caltex Oil Refining (India) Limited. The company became part of the expanding Indian public-sector petroleum framework through further government acquisition and restructuring of oil assets.
- 1974
Caltex-era reorganisation and HPCL incorporation
[1]The business was reorganised as Caltex Oil Refining India Limited during the restructuring of India's petroleum assets. Separately, Hindustan Petroleum Corporation Limited was incorporated following the Government of India's acquisition and reorganisation of Burmah Shell's Indian operations.
- 1974
HPCL was incorporated
[2]Hindustan Petroleum Corporation Limited was incorporated following the Government of India’s acquisition and reorganisation of Burmah Shell’s Indian operations.
Products and positioning
A large Indian state-controlled downstream energy company combining refinery assets, nationwide fuel distribution, lubricants, LPG and infrastructure capabilities.
Motor fuel
HP Petrol
HPCL markets petrol, also called motor spirit, through its nationwide retail network, terminals and depots. It is primarily used by private motorists and commercial vehicles with spark-ignition engines.
Motor fuel
HP Diesel
HPCL's high-speed diesel is supplied through retail stations, terminals and industrial distribution channels. Customers include road-transport operators, private vehicle owners, industrial users and institutional fleets.
Lubricants and specialties
HP Lubricants
The lubricant portfolio includes automotive, industrial and specialty lubricants, greases and related products. Reported consumer-facing product names include Laal Ghoda, HP Milcy, Thanda Raja, Koolgard and Racer4. HPCL operates lubricant manufacturing and base-oil facilities in Mumbai and Silvassa. It serves passenger vehicles, two-wheelers, trucks, construction equipment, industrial machinery and other applications, extending HPCL's customer relationship beyond fuel purchases into vehicle maintenance and industrial operations. HP Lubricants covers automotive, industrial and commercial lubrication products, including oils, greases and specialised formulations. It serves passenger vehicles, two-wheelers, trucks, construction equipment, industrial machinery and other applications. The line extends HPCL’s customer relationship beyond fuel purchases into vehicle maintenance and industrial operations.
Liquefied petroleum gas
HP Gas
HP Gas supplies LPG for domestic, commercial and industrial uses through bottling plants, distributors and storage infrastructure. It is one of HPCL's most visible household-energy businesses. HP Gas is HPCL’s LPG distribution business, supplying liquefied petroleum gas primarily for household cooking and also for commercial uses. It operates through distributors, bottling infrastructure and delivery channels. The business has been important to HPCL’s role in domestic energy access and in the distribution of a widely used household fuel. HP Gas supplies LPG for domestic, commercial and industrial uses through bottling plants, distributors and storage infrastructure. It is one of HPCL's most visible household-energy businesses and has been important to HPCL's role in domestic energy access and in the distribution of a widely used household fuel.
Aviation fuel
Aviation turbine fuel
HPCL supplies aviation turbine fuel through service facilities at major Indian airports and serves airline and aviation customers. The business is supported by the company's refining, storage and distribution network. HPCL supplies aviation turbine fuel and associated aviation-fuelling services to airports and airline customers. This business depends on specialised storage, quality control, transport and airport infrastructure. It is part of the company’s institutional and industrial marketing portfolio rather than its consumer retail business. HPCL supplies aviation turbine fuel through service facilities at major Indian airports and serves airline and aviation customers. The business is supported by the company's refining, storage and distribution network and depends on specialised storage, quality control, transport and airport infrastructure. It is part of the company's institutional and industrial marketing portfolio rather than its consumer retail business.
Fuel marketing
Automotive fuels
HPCL markets petrol, diesel and related automotive fuels through its nationwide retail-station network. The business serves private motorists, commercial fleets, transport operators and institutional customers. Retail operations are supported by depots, terminals, pipelines and refinery output, allowing the company to connect domestic fuel production with a large network of branded service stations.
Refining
Refined petroleum products
HPCL's refineries produce transport fuels and a range of intermediate and finished petroleum products, including naphtha, bitumen and other refinery streams. These outputs support HPCL's own marketing network and sales to industrial, infrastructure, aviation, marine and institutional buyers.
Marketing campaigns
- HP Drive Track Plus
India
HPCL has offered HP Drive Track Plus as a customer loyalty and payment-linked program for purchasers of HPCL products, with benefits such as points or cashback subject to applicable government and program terms.
Brand decisions
2019
Maharatna status grantedStrategyBackground
HPCL's scale and strategic role in India's petroleum system qualified it for the highest central public-sector enterprise category.
Action taken
The Government of India granted HPCL Maharatna status.
Aftermath
The designation provided the company with the institutional status associated with India's largest public-sector enterprises.
2018
Transfer of government control to ONGCM&ABackground
The Government of India pursued consolidation among state-owned energy companies and agreed to transfer its controlling HPCL shareholding to Oil and Natural Gas Corporation.
Action taken
ONGC acquired the government’s controlling stake, making HPCL an ONGC subsidiary while HPCL continued as a separately listed company.
Aftermath
HPCL became part of the ONGC Group, creating opportunities for coordination across upstream, refining and marketing activities without eliminating HPCL’s separate operating identity.
2017
Government approved ONGC's acquisition of HPCLM&ABackground
The Government of India sought to reorganise ownership among major state-controlled energy companies while retaining HPCL as an operating business.
Action taken
The Union Cabinet approved ONGC's acquisition of a majority stake in HPCL; the transaction was completed in January 2018.
Aftermath
HPCL became an ONGC subsidiary while continuing as a separately listed company.
- Refinery and logistics expansionStrategy
Background
Growing Indian fuel demand and the need for regional supply capacity led HPCL to pursue refinery modernisation, pipeline projects and the Barmer refinery venture.
Action taken
HPCL advanced projects involving Visakhapatnam and Mumbai refineries, new pipelines, LPG infrastructure and HPCL Rajasthan Refinery Limited.
Aftermath
The projects are intended to increase processing, storage and distribution capacity, although individual project completion dates vary.
- Refinery, pipeline and energy-transition expansionStrategy
Background
India’s fuel demand, refining requirements and energy-transition policies have encouraged public-sector oil companies to expand infrastructure and diversify beyond conventional fuel marketing. Growing Indian fuel demand and the need for regional supply capacity led HPCL to pursue refinery modernisation, pipeline projects and the Barmer refinery venture. India's fuel demand, refining requirements and energy-transition policies have encouraged public-sector oil companies to expand infrastructure and diversify beyond conventional fuel marketing.
Action taken
HPCL has pursued refinery modernisation and expansion, pipeline and logistics projects, the Rajasthan Refinery initiative and selected gas and renewable-energy activities. HPCL advanced projects involving Visakhapatnam and Mumbai refineries, new pipelines, LPG infrastructure and HPCL Rajasthan Refinery Limited. It has also pursued refinery modernisation and expansion, pipeline and logistics projects, the Rajasthan Refinery initiative and selected gas and renewable-energy activities.
Aftermath
These projects are intended to increase processing capability, improve supply-chain reach and preserve relevance as India’s energy mix evolves. The timing and scope of individual projects should be checked against current company disclosures. The projects are intended to increase processing, storage and distribution capacity, improve supply-chain reach and preserve relevance as India's energy mix evolves, although individual project completion dates vary.
Recent events
Reported
MC² Foundation launches MC²+ Ignite energy innovation accelerator[6]
MC² Foundation launched MC²+ Ignite, an energy innovation accelerator, at IIT Madras on August 19, with the Secretary of India's Ministry of Petroleum and Natural Gas and the CMDs of major Indian oil and gas companies present. The programme will select about 30 startups, which will be eligible for up to ₹2 crore in milestone-linked convertible funding, and has partnered with IIT Madras, IIT Kanpur, IIT Kharagpur, C-CAMP and Venture Center, Pune.
Reported
HPCL agrees to acquire HSEPL shares from S P Ports[7]
Hindustan Petroleum Corporation Limited entered into a share purchase agreement to acquire 50% of HPCL Shapoorji Energy Private Limited from S P Ports Private Limited. The acquisition was expected to be completed by March 31, 2021.
Reported
Union Bank of India and HPCL launch UNI – CARBON CARD[8]
Union Bank of India launched the UNI – CARBON CARD, a co-branded credit card with HPCL on NPCI's RuPay platform.
- Unconfirmed
Shuchi Anant Virya and HPCL announce EV charging partnership[9]
Shuchi Anant Virya announced a partnership with Hindustan Petroleum Corporation Limited to set up a pan-India network of public EV charging points at HPCL retail outlets.
Reported
HP New Year Bonanza campaign launched[10]
Hindustan Petroleum Corporation’s Secunderabad Retail Region launched the HP New Year Bonanza sales promotion campaign. Eligible customers could enter an online draw to win prizes, and the campaign covered 370 petrol bunks in the region.
Reported
VoltUp partners with HPCL on battery-swapping centres[11]
VoltUp said it had partnered with Hindustan Petroleum Corporation Ltd (HPCL) to open battery-swapping centres. The partnership planned 50 centres across India within six months; the article said the first two had been unveiled in Jaipur.
Sources12 sources
- 1Hindustan Petroleum reference articleen.wikipedia.org
- 2Hindustan Petroleum official websitehindustanpetroleum.com
- 3Oil and Natural Gas Corporation official websiteongcindia.com
- 4HPCL became an ONGC subsidiaryongcindia.com
- 5HP Drive Track Plushindustanpetroleum.com
- 6MC²基金会推出MC²+ Ignite能源创新加速器aninews.in
- 7HPCL agrees to acquire HSEPL shares from S P Portsfreepressjournal.in
- 8印度联合银行与HPCL推出UNI – CARBON CARDfreepressjournal.in
- 9Shuchi Anant Virya与HPCL宣布电动汽车充电合作cartrade.com
- 10HP New Year Bonanza促销活动启动thehindu.com
- 11VoltUp与HPCL合作建设电池换电中心thehindu.com
- 12Start-up VoltUp partners with HPCL for battery swapping centresbusiness-standard.com
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