History
HPCL has steadily grown over the years. The refining capacity steadily increased from 5.5 million metric tonnes in 1984/85 to 13.00 million metric tonnes (MMT) now. On the financial front, the turnover grew from IN₹ 2687 crores in 1984-85 to IN₹ 1,31,802 Crores in Financial year 2008-09.
In 2012, HPCL's fourth quarter net profit jumped to 4631 Crores, which is four times more that the last year's net profit.
In 2003, following a petition by the Centre for Public Interest Litigation (CPIL), the Supreme Court of India restrained the Central government from privatizing Hindustan Petroleum and Bharat Petroleum without the approval of Parliament. As counsel for the CPIL, Rajinder Sachar and Prashant Bhushan said that the only way to disinvest in the companies would be to repeal or amend the Acts by which they were nationalized in the 1970s. As a result, the government would need a majority in both houses to push through any privatization.
Read more about this topic: Hindustan Petroleum
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“History takes time.... History makes memory.”
—Gertrude Stein (1874–1946)
“Let it suffice that in the light of these two facts, namely, that the mind is One, and that nature is its correlative, history is to be read and written.”
—Ralph Waldo Emerson (1803–1882)
“In history the great moment is, when the savage is just ceasing to be a savage, with all his hairy Pelasgic strength directed on his opening sense of beauty;—and you have Pericles and Phidias,—and not yet passed over into the Corinthian civility. Everything good in nature and in the world is in that moment of transition, when the swarthy juices still flow plentifully from nature, but their astrigency or acridity is got out by ethics and humanity.”
—Ralph Waldo Emerson (1803–1882)