Hindustan Petroleum Corporation Ltd (HPCL) a fortune 500 company is one of the major integrated oil refining and marketing companies in India. The company is a Mega Public Sector Undertaking (PSU) with Navratna status. The company operates in two business segments: Downstream and exploration and production of hydrocarbons. The Downstream segment is engaged in refining and marketing of petroleum products. HPCL operates two coastal refineries one at Mumbai (West Coast) of 7.5 million metric tonnes per annum (MMTPA) and the other in Vishakapatnam (East Coast) with a capacity of 8.3 MMTPA. HPCL in collaboration with M/s Mittal Energy Investments Pte. Ltd. is operating a 9 MMTPA capacity refinery at Bathinda Punjab with 49% equity stake. HPCL also holds an equity stake of 16.95% in Mangalore Refinery & Petrochemicals Ltd (MRPL) a refinery at Mangalore with a capacity of 9 MMTPA. The company owns the country's Lube Refinery with a capacity of 428000 Metric Tonnes. The company's products and services include Refineries aviation bulk fuels & specialities international trade liquefied petroleum gas (LPG) - HP gas Lubes - HP lubes. The company's subsidiaries include HPCL Biofuels Ltd and HPCL-Mittal Energy Ltd.Hindustan Petroleum Corporation Ltd was incorporated in the year 1952 with the name Standard Vacuum Refining Company. Then the name was changed to ESSO India. When ESSO and Lube India were nationalised the company was renamed to Hindustan Petroleum Corporation Ltd in the year 1974. The Caltex undertaking was nationalized in the year 1976 which were subsequently merged with the company in the year 1978. In the year 1979 the undertakings of Kosan Gas Company the concessionaires of HPCL in the domestic LPG market was merged with the company. In December 2000 the 'Guru Gobind Singh Refineries' was incorporated as a wholly owned subsidiary company. The company completed the Rs 378 crore pipeline project from Vijayawada to Secunderabad which was commissioned on March 2002. They set up a new LPG Bottling plant with capacity of 44 TMTPA in Kota. The company implemented 15 company tank trucks in the year 2004.During the year 2004-05 the company completed their construction of a new grassroot depot at Aonla Bareilly in Uttar Pradesh with total cost of Rs 10.25 crore. Also they completed the construction of another new grassroot depot at Ramagundam Andhra Pradesh at a total cost of Rs 11.47 crore. Further they commissioned a total of 13100 KL additional tankage at various locations during the year. The company branded their retail outlets under the name 'CLUB HP'. They launched 'Turbojet' branded diesel and the 'Power' branded petrol in India. During the year 2005-06 the company's Mumbai Refinery undertook mega project at an approved cost of Rs 1850 crore to meet the MS/HSD of EURO-III grade in Metro/Mega cities and Bharat stage-II grade in the rest of the country and the Visakhapatnam Refinery undertook Clean Fuel Project at an approved cost of Rs 2147.8 crore to meet the MS/HSD of Euro-III grade in Metro-Mega cities and Bharat-II grade in the rest of the country. The company commissioned 647 Retail Outlets during the year.During the year 2008-09 the installation of facilities for production of Euro III / IV Petrol (Motor Spirit) at both the Refineries was completed. In pursuit of promoting alternate fuels CREDA-HPCL Biofuel Ltd (CHBL) was incorporated on October 14 2008 as a subsidiary company with equity shareholding of 74% by the company and 26% by Chhattisgarh State Renewable Energy Development Agency (CREDA). CHBL is to undertake cultivation of Jatropha plant an energy crop used for production of bio- diesel on 15000 hectares of land leased by the Government of Chhattisgarh.HPCL Refineries commissioned Clean Fuels Projects and Euro-IV MS production started prior to January 2010 as per Auto Fuels Policy. Mumbai Refinery was the First Indian PSU refinery to commence BS-IV MS production facilities and first batch of BS-IV MS was rolled out in January 2010. In its continual effort to widen the crude basket Mumbai Refinery processed 2 new crudes namely Iran Mix and Ravva crude. In April 2011 the company approved the acquisition of balance 50% shares held by other joint venture partners in Prize Petroleum Company Ltd. In November 2011 the company entered into an MoU with Greater Calcutta Gas Supply Corporation Ltd (GCGSCL) and Gas Authority of India Ltd (GAIL) to carry out Natural Gas business in the City of Kolkata and its adjoining districts.The company is setting up a state of the art Green R&D Centre at Bangalore with an objective to become a technology leader through continuous & innovative R&D efforts. The projects is being executed in a phase manner with a phase-I capital investment of Rs 210 crore.In 2012 HPCL Mittal Energy joint venture ties-up with IBM for data solutions. The company became a promoter of the Rajasthan refinery by taking a majority stake of 51 per cent in Rs 25000-crore refinery with anual capacity of 9 million metric tonnes.In 2013 a Memorandum of Understanding (MOU) was signed between Government of Rajasthan (GOR) and the company for setting up a state-of-the-art 9 MMTPA refinery-cum-petrochemical complex in Barmer District of Rajasthan. The company proposed to enter into a 50:50 joint venture with Shapoorji Pallonji Group for LNG terminal for import of liquid gas (LNG) on Gujarat coast. The company procures 1mn barrels of Nigerian Qua Iboe crude oil. The company has been bestowed with the Golden Peacock Award for Excellence in Corporate Governance for the year 2013 by Institute of Directors. The company signs MoU with MOP&NG Govt. of India for FY 2013-14.In 2014 the company's Mumbai Refinery bagged the coveted 'National Energy Conservation Award (First prize)' in the Refinery Sector. The company Inaugurates KSP on World's Highest Motorable Road. The company bags the Platts Top 250 Global Energy Award. The company acquires two gas blocks in Australia for AUD 85 mn.In 2015 Hindustan Petroleum Corporation Ltd (HPCL) has approved the proposal for implementation of capacity expansion of the company's Mumbai refinery from 7.5 MMTPA to 9.5 MMTPA. HPCL - `HP-HiGAS Unit' a new commercial scale unit developed based on HPCL R&D technology at Visakhapatnam Refinery was inaugurated during the year. The company commenced marketing of Bio-Fuel blended High Speed Diesel (B-5 Diesel) in select retail outlets of the country.On 27 May 2016 the Board of Directors of HPCL approved acquisition of 2.16 crore equity share of Petronet MHB Ltd. (PMHBL) at Rs 12.04 per share from Petronet India Ltd totaling to Rs 26.09 crore.The Board of Directors of HPCL at its meeting held on 20 July 2016 recommended issue of bonus shares in the ratio of 2 bonus shares for every 1 existing equity share. The board also approved Rs 20928-crore project to increase the capacity of Visakhapatnam refinery to 15 MMTPA from 8.33 MMTPA with residue up-gradation facility meeting BS VI fuel specification compliance. On 21 July 2016 HPCL announced that the name plate capacity of its Mumbai refinery stands enhanced to 7.5 MMTPA from 6.5 MMTPA due to various process improvements and debottlenecking schemes implemented by the company.Following approved from HPCL's Board of Directors as well as shareholders the Reserve Bank of India on 5 August 2016 notified increase in the ceiling on investment in HPCL's shares by foreign institutional investors (FIIs) from 24% to 40% of the paid up capital of the company. HPCL commissioned Mangalore-Hassan-Mysore-Solur LPG pipeline (356 km) in October 2016 with a cost of Rs 838 crore and ahead of scheduled time of completion. To reduce carbon footprints and promote renewable energy HPCL commissioned a 50.5 MW wind power project in Rajasthan in December 2016 taking the total wind power capacity to 101 MW.On 7 December 2016 HPCL announced that it has signed a Consortium Agreement with Indian Oil Corporation Limited and Bharat Petroleum Corporation Limited to carry out pre project activities for setting up of 60 MMTPA West Coast Refinery and a Petrochemical Project in the State of Maharashtra through a Joint Venture Company.The Board of Directors of HPCL at its meeting held on 17 April 2017 approved resumption of Rajasthan Refinery Project and signing of revised MOU with the state government of Rajasthan for implementation of the project. The project involves the setting up of 9 MMTPA grass root refinery at Pachpadra in Barmer district in Rajasthan.The Board of Directors of HPCL at its meeting held on 26 May 2017 recommended issue of fully paid bonus shares in the ratio of 1 bonus equity share of Rs 10 each for every 2 existing equity shares of Rs 10 each.HPCL registered highest ever Profit after Tax of Rs 6209 crore on standalone basis with gross sales of Rs 213489 crore for the year ended 31 March 2017 (FY 2017). HPCL refineries at Mumbai and Visakhapatnam maximized crude processing and achieved the highest ever combined refining throughput of 17.81 MMT with capacity utilization of 113% in FY 2017 compared to throughput of 17.23 million tonnes in FY 2016. HPCL successfully rolled out daily pricing of petrol and diesel across India effective from 16 June 2017 to smoothen flow of products from supply locations to the consumer and align the prices to the international prices on daily basis. On 6 July 2017 HPCL announced that it has raised $500 million from fixed rate senior unsecured notes in overseas markets. The company intends to use all of the proceeds of the issue to fund capital expenditure for its ongoing and future domestic projects in accordance with the ECB guidelines of India.