Joint Ventures & Subsidiaries

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Refining and Marketing of Petroleum products is the core business of the Corporation. Opportunities have been explored to access new revenue streams, and augment downstream businesses. Accordingly, HPCL has formed subsidiaries and joint venture companies for refining, bitumen emulsion, pipeline, city gas distribution (CGD), LPG cavern, natural gas pipelines, LNG terminal and biofuels.

Joint Ventures

Logo of HMEL HPCL-Mittal Energy Ltd.(HMEL)

HPCL-Mittal Energy Ltd. (HMEL) is a joint venture between HPCL and Mittal Energy Investments Pte. Ltd., Singapore with equity holding of 48.99% each.

HMEL, operates a 11.3 MMTPA refinery at Bathinda in Punjab. HMEL refinery is an energy efficient, environment-friendly, high distillate yielding complex which has been designed to produce high value added petroleum products.

During 2018-19, HMEL recorded highest ever crude throughput of 12.47 MMT and achieved consolidated total revenue of Rs 63,144 Crore & consolidated Profit After Tax (PAT) of Rs 1,468 Crore. HMEL’s commitment to safety is embedded in its core values and the same has been recognized at various national and international forums. During 2018-19, HMEL has been conferred with 5 Star Rating by British Safety Council in Process Safety Management (PSM) audit.

Logo of HINCOL Hindustan Colas Pvt Ltd. (HINCOL)

HINCOL is a joint venture of HPCL and Colas S.A., France with equity shareholding of 50% each. HINCOL is engaged in manufacturing and marketing of Bitumen emulsions and modified Bitumen. HINCOL also undertakes various pavement maintenance activities including micro surfacing, slurry sealing & fog sealing and continues to be the market leader in the value added Bitumen segment in India. HINCOL owns and operates 9 strategically located manufacturing plants having ISO 9001, ISO 14001 & OHSAS 18001 certifications.

During 2018-19, HINCOL registered overall sales growth of 9.4% with highest ever annual volume of 229 TMT. In Bitumen emulsions, HINCOL achieved a robust growth of 17.4%. The Company recorded total revenue of Rs 785.81 Crore and highest ever Profit After Tax (PAT) of Rs 104.03 Crore. To cater to the demand of growing road construction and maintenance activities in India, HINCOL is expanding capacity by setting up new plants at Visakhapatnam, Guwahati and Bathinda.

HINCOL has been paying dividend for the last 19 years and has declared dividend of 700% for 2018-19.

Logo of SALPG South Asia LPG Co Pvt. Ltd.(SALPG)

South Asia LPG Company Pvt. Ltd. (SALPG) is a joint venture between HPCL and Total Holding India with equity holding of 50% each. SALPG owns and operates an underground LPG cavern having 60 TMT capacity and associated receiving & despatch facilities at Visakhapatnam.

During 2018-19, SALPG cavern received 1.460 MMT of LPG. SALPG has achieved total revenue of Rs 199.72 Crore and recorded Profit After Tax (PAT) of Rs 102.89 Crore.

SALPG has been continuously paying dividend for the last 9 years. For the year 2018-19, SALPG board has recommended highest ever total dividend of 120%.

Logo of BGL Bhagyanagar Gas Ltd. (BGL)

Bhagyanagar Gas Ltd. (BGL) is a joint venture of HPCL and GAIL with equal equity holding of 49.97% each.

BGL has a CGD network comprising of 1,006 km Medium Density Poly-Ethylene (MDPE) pipeline & 127 km steel pipeline and is serving 36,810 domestic customers. BGL also operates 70 CNG stations in the cities of Hyderabad, Vijayawada & Kakinada in the states of Andhra Pradesh and Telangana.

During 2018-19, BGL has achieved sales volume of 29,505 MT of CNG and 170 lakh Standard Cubic Meter (SCM) of PNG, registering a growth of 37% in PNG sales. BGL has recorded highest ever total revenue of Rs 187.62 Crore and highest ever Profit After Tax (PAT) of Rs 19.23 Crore during the year.

Logo of Avantika Gas LtdAavantika Gas Ltd.

Aavantika Gas Ltd. (AGL) is a joint venture of HPCL and GAIL with equal equity holding of 49.99% each.

AGL has a CGD network comprising of 1951 km MDPE pipeline & 102 km steel pipeline and is serving 51,203 domestic customers. AGL also operates 39 CNG stations in the cities of Indore, Ujjain, Pithampur and Gwalior in the state of Madhya Pradesh.

During 2018-19, AGL has achieved sales volume of 26,373 MT of CNG and 176 lakh SCM of PNG, registering a growth of 21% and 51% respectively over the previous year. AGL has also reported highest ever total revenue of Rs 202.66 Crore and highest ever Profit After tax (PAT) of Rs 25.94 Crore during 2018-19.

Logo of Petronet MHB ltd. Petronet MHB Ltd. (PMHBL)

Petronet MHB Ltd. (PMHBL) is a joint venture of HPCL and ONGC with equity shareholding of 32.72% each and balance 34.56% of equity being held by banks & financial institutions. PMHBL owns and operates a multiproduct petroleum pipeline to transport MRPL refinery’s products to various parts of Karnataka.

PMHBL has achieved throughput of 3.36 MMT during 2018-19. PMHBL has reported highest ever total revenue of Rs 203.02 Crore during 2018-19 as compared to Rs 171.13 Crore in the previous year and recorded highest ever Profit After Tax (PAT) of Rs 111.77 Crore as compared to Rs 83.46 Crore achieved in 2017-18.

During 2018-19, PMHBL has installed solar power plants at various locations including Mangaluru, Hassan and Devangonthi stations and sectionalizing valve stations with total capacity 3.63 MWp.

Logo of MRPL Mangalore Refineries and Petrochemicals Ltd. (MRPL)

Mangalore Refinery and Petrochemicals Ltd. (MRPL) is a joint venture of HPCL and ONGC wherein ONGC holds 71.63% of equity, HPCL holds 16.96% equity, and balance equity is held by public. MRPL is a schedule ‘A’ Miniratna, Central Public Sector Enterprise (CPSE) and operates 15 MMTPA refinery at Mangaluru in Karnataka.

During 2018-19, MRPL achieved highest ever refining throughput of 16.43 MMT and recorded consolidated total revenue of Rs 73,853 Crore & Consolidated Profit After Tax (PAT) of Rs 351.26 Crore.

MRPL is implementing projects for enabling production of BS VI grade auto fuels at refinery with effect from 1st April, 2020.

Logo of MAFFFL Mumbai Aviation Fuel Farm Facility Pvt. Ltd. (MAFFFL)

Mumbai Aviation Fuel Farm Facility Pvt. Ltd. (MAFFFL) is a joint venture of Mumbai International Airport Private Limited (MIAL), IOCL, BPCL and HPCL with equity holding of 25% each.

The Company is engaged in operation & maintenance of the existing aviation fuel farm facilities and provides Into-plane services at Chhatrapati Shivaji International Airport (CSIA), Mumbai. The Company will construct, maintain and operate the new integrated fuel farm facility on an open access basis. The construction of integrated fuel farm is in full swing at Chhatrapati Shivaji International Airport (CSIA), Mumbai.

MAFFFL achieved throughput of 17.91 lakh KL during 2018-19. MAFFFL has registered highest ever total revenue of Rs 145.42 Crore during the year as compared to Rs 139.38 Crore in the previous year and recorded highest ever Profit After Tax (PAT) of Rs 51.84 Crore as compared to Rs 47.22 Crore in previous year registering an increase in PAT by 9.8%.

During 2017-18, the cumulative overall progress of the integrated fuel farm project is about 68%.

Logo of GIGL GSPL India Gasnet Ltd (GIGL)

GSPL India Gasnet Ltd. (GIGL) is a joint venture of Gujarat State Petronet Ltd. (GSPL), Indian Oil Corporation Ltd. (IOCL), Bharat Petroleum Corporation Ltd. (BPCL) and HPCL. HPCL has 11% equity participation in the company and balance equity is held by GSPL (52%), IOCL (26%) & BPCL (11%).

GIGL has been authorised to lay two cross country gas pipelines viz 1,640 km long Mehsana to Bathinda Pipeline (MBPL) and 740 km long Bathinda to Srinagar Pipeline (BSPL). Work for initial sections of the project covering about 440 km of pipeline length including Barmer-Pali pipeline, Palanpur-Pali pipeline and Jalandhar-Amritsar pipeline was completed during 2018-19 and operations were commenced in third quarter of 2018-19. After that, the Company has transported about 0.90 MMSCMD of gas and has recorded total revenue of Rs 25.80 Crore.

Logo of GITL GSPL India Transco Ltd (GITL)

GSPL India Transco Ltd. (GITL) is a joint venture of GSPL, IOCL, BPCL and HPCL. HPCL has 11% equity participation in the company and balance equity is being held by GSPL (52%), IOCL (26%), & BPCL (11%).

GITL has been authorised to lay 1,881 long km pipeline from Mallavaram to Bhilwara. The initial section of the project for laying the pipeline from interconnection point of Reliance Gas Transmission India Limited (RGTIL) at Kunchanapalli to Ramagundam Fertilizers & Chemicals plant at Ramagundam is in the advanced stage of completion.

Logo of HSEPL HPCL Shapoorji Energy Pvt. Ltd. (HSEPL)

HPCL Shapoorji Energy Pvt. Ltd. (HSEPL) is a joint venture between HPCL and SP Ports Pvt. Ltd. with equity shareholding of 50% each.

HSEPL has been formed to build and operate a 5 MMTPA LNG regasification terminal at Chhara Port in Gir Somnath district of Gujarat. Major facilities at LNG terminal include marine facilities for berthing & unloading of LNG carrier, storage tanks, regasification facilities and associated utilities.

Environmental Clearance (EC) for the project has been obtained from Ministry of Environment, Forest and Climate Change (MoEF&CC) during 2018-19. Petroleum Explosive Safety Organization (PESO) has also granted the approval for construction of facilities at Chhara LNG terminal.

Process of award of Engineering, Procurement & Construction (EPC) contracts for marine facilities, LNG storage tanks and Regasification facilities through international competitive bidding is in advanced stage.

Logo of GGPL Godavari Gas Pvt. Ltd. (GGPL)

Godavari Gas Pvt. Ltd. (GGPL) is a joint venture between Andhra Pradesh Gas Distribution Corporation Limited (APGDC) and HPCL with equity stakes in the ratio of 74:26.

GGPL has been formed to develop and operate city gas distribution network in East Godavari and West Godavari districts of Andhra Pradesh. GGPL has a CGD network comprising of a 246 km of MDPE pipeline & 3.3 km of steel pipeline and is serving 26,162 domestic customers. GGPL also operates 15 CNG stations in East Godavari and West Godavari districts.

During 2018-19, GGPL has achieved sales volume of 598 MT of CNG and 10.63 lakh SCM of PNG, registering a growth of 39% in CNG sales. GGPL has recorded total revenue of Rs 5.54 Crore.

Logo of RRPCL Ratnagiri Refinery and Petrochemicals Ltd. (RRPCL)

Ratnagiri Refinery & Petrochemicals Ltd. (RRPCL) is a joint venture company promoted by IOCL, BPCL and HPCL with equity participation in the ratio of 50:25:25. RRPCL has planned to set up a 60 MMTPA refinery along with integrated petrochemical complex at west coast of Maharashtra. During 2018-19, Saudi Aramco and ADNOC have also partnered with RRPCL to jointly execute the project along with IOCL, BPCL and HPCL. Preliminary feasibility study including basic technical configuration of the project and supply-demand market study for petrochemicals have been completed. Preproject activities including detailed configuration and detailed feasibility study have been initiated for the project.

Logo of HOGPL HPOIL Gas Pvt. Ltd. (HOGPL)

HPOIL Gas Pvt. Ltd. (HOGPL) is a joint venture between HPCL and OIL India Ltd. (OIL) and was incorporated on 30th November, 2018 with equity shareholding of 50% each.

HOGPL has been formed to develop and operate CGD networks in geographical areas of Ambala – Kurukshetra districts in the state of Haryana and Kolhapur district in the state of Maharashtra. HOGPL has achieved financial closure during 2018-19.

HOGPL has obtained the allocation of 6,000 SCMD of APM (Administered Price Mechanism) gas and has also entered into gas facilitation agreement with nearby CGD entities for CNG sourcing.

Subsidiary Companies

Logo of Prize Petroleum Company Ltd Prize Petroleum Company Ltd.

Prize Petroleum Company Ltd. (PPCL) is a wholly owned subsidiary of HPCL and is involved in the business of Exploration and Production (E&P) of Hydrocarbons as well as providing services for management of E&P blocks. During 2018-19, PPCL achieved total production of 31,265 barrels of crude oil from domestic oil field at Hirapur (Gujarat).

PPCL has a wholly owned subsidiary namely Prize Petroleum International Pte Ltd. (PPIPL), incorporated in Singapore. PPIPL has participation interest of 11.25% and 9.75% in two E&P blocks, T/L1 and T/18P respectively, in Australia. PPIPL has achieved its share of production of 4,29,541 BoE (Barrels of Oil Equivalent) from Yolla producing field (T/L1).

During 2018-19, PPCL has recorded total revenue of Rs 100.07 Crore on consolidated basis as compared to Rs 106.27 Crore achieved during previous year.

Logo of HBL HPCL Biofuels Ltd. (HBL)

HPCL Biofuels Ltd. (HBL) is a wholly owned subsidiary company of HPCL. HBL was promoted as a backward integration initiative to enable HPCL’s foray in manufacturing of ethanol for blending in Petrol. HBL has two integrated Sugar -Ethanol-Cogeneration plants at Sugauli and Lauriya districts in the state of Bihar.

During 2018-19, HBL has recorded total revenue of Rs 235.22 Crore and cane crushing of 707 TMT with highest ever average sugar recovery of 9.76%. HBL achieved sugar production of 68,124 MT, ethanol production of 8,558 KL and power generation of 73,595 MWh during 2018-19.

Logo of HRRL HPCL Rajasthan Refinery Ltd. (HRRL)

HPCL Rajasthan Refinery Ltd. (HRRL) is a joint venture of HPCL and Government of Rajasthan with 74% equity participation by HPCL and 26% by Government of Rajasthan. HRRL is setting up a 9 MMTPA greenfield refinery cum petrochemical complex in the state of Rajasthan. The cost of the project is estimated to be Rs 43,129 Crore.

The financial closure of the project has been completed in 2018-19. Process Licensors are finalized for 13 Process units and engineering is in progress. Site grading, developments of internal roads, construction of boundary wall etc. are in progress at project site.

Logo of HMEFZCO HPCL Middle East FZCO

HPCL Middle East FZCO, a wholly owned subsidiary of HPCL, has been formed for marketing of lubricants and other petroleum products across various markets of Middle East & Africa and in the region of Commonwealth of Independent States (CIS).

The company is registered under the DAFZA (Dubai Airport Free Zone Authority) with office at the DAFZA Complex and has trade license for trading in lubricants & greases, petrochemicals and refined oil products.

HPCL Middle East FZCO has commenced operations during 2018-19 and has registered sales of 24 MT of value added lubricants with total revenue of 0.12 million AED (Rs 0.23 Crore) during the year.

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