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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“These anyway might think it was important
That human history should not be shortened.”
—Robert Frost (1874–1963)
“There is a history in all men’s lives,
Figuring the natures of the times deceased,
The which observed, a man may prophesy,
With a near aim, of the main chance of things
As yet not come to life.”
—William Shakespeare (1564–1616)
“What we call National-Socialism is the poisonous perversion of ideas which have a long history in German intellectual life.”
—Thomas Mann (1875–1955)