MUMBAI. Yesterday marks the 52nd anniversary of the official formation of Hindustan Petroleum Corporation Limited (HPCL).
Following the Essor (Acquisition of Undertakings in India) Act passed by Parliament, the Government of India took over the refinery and marketing operations of Esso Eastern Inc. on this day in 1974. These operations were merged with Lube India Limited to officially birth HPCL.
Over more than five decades, HPCL transitioned from a private multinational setup to a proud Maharatna CPSE. Today, it commands over 19% of India’s petroleum marketing share and operates massive refining setups in Mumbai and Visakhapatnam.
