>Citation bot at 14:56, 10 May 2021

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{{Use dmy dates|date=March 2013}}
{{Infobox company
| name = Chennai Petroleum Corporation Limited
| native_name = CPCL
| native_name_lang = hi
|former_name = Madras Refineries Limited
| logo = Chennai Petroleum Corporation logo.svg
| logo_size = 200px
| type = [[Subsidiary]] of [[Indian Oil Corporation]]
| traded_as= {{BSE|500110}} <br> {{NSE|CHENNPETRO}}
| founded = {{Start date|df=yes|1965|11|18}}<ref name="hist">{{cite news|title=Company History - Chennai Petroleum Corporation Ltd.|url=http://economictimes.indiatimes.com/chennai-petroleum-corporation-ltd/infocompanyhistory/companyid-11661.cms|accessdate=1 June 2016|work=[[The Economic Times]]}}</ref>
| hq_location_city = [[Chennai]]
| hq_location_country = [[India]]
| key_people = {{ublist|Shrikant Madhav Vaidya ([[Chairman]])|S N Pandey ([[Chief executive officer|Managing Director]])}}<ref>{{cite news|title=Gautam Roy appointed as CPCL MD|url=http://www.business-standard.com/article/companies/gautam-roy-appointed-as-cpcl-md-114101400732_1.html|work=[[Business Standard]]|date=14 Oct 2014}}</ref><ref>{{cite web|title=Directors - CPCL|url=https://www.cpcl.co.in/corporate_information-directors.htm|website=www.cpcl.co.in|accessdate=1 June 2016|archive-url=https://web.archive.org/web/20160812025214/https://www.cpcl.co.in/corporate_information-directors.htm|archive-date=12 August 2016|url-status=dead}}</ref>
| industry = [[Oil and gas]]
| products = {{ublist|[[Diesel fuel|Diesel]]|[[Kerosene]]|[[Liquified petroleum gas|LPG]]|[[Petrochemicals]]|[[Petrol]]}}
| parent = [[Indian Oil Corporation]] (100%)
| revenue = {{decrease}}{{INRConvert|37189|c}} (2020)<ref name="Financials">{{cite web|url=https://www.moneycontrol.com/india/stockpricequote/refineries/chennaipetroleumcorporation/CPC02|title=Chennai Petroleum Corporation Ltd. Financial Statements |website=moneycontrol.com}}</ref>
| operating_income = {{decrease}}{{INRConvert|-2608|c}} (2020)<ref name="Financials"/>
| net_income = {{decrease}}{{INRConvert|-2083|c}} (2020)<ref name="Financials"/>
| assets = {{decrease}}{{INRConvert|12835|c}} (2020)<ref name="Financials"/>
| equity = {{decrease}}{{INRConvert|1210|c}} (2020)<ref name="Financials"/>
| num_employees = 1,684 (2020)<ref name="Financials"/>
| ISIN = INE178A01016
| website = {{URL|www.cpcl.co.in}}
}}

'''Chennai Petroleum Corporation Limited''' ('''CPCL''') a wholly owned [[subsidiary]] of [[Indian Oil Corporation]] (IOCL) and is an Indian oil and gas corporation headquartered in [[Chennai]], [[India]]. It was formed as a [[joint venture]] in 1965 between the [[Government of India]] (GOI), [[AMOCO]] and [[National Iranian Oil Company]] (NIOC), having a shareholding in the ratio 74%: 13%: 13% respectively. From the grassroots stage CPCL Refinery was set up with an installed capacity of 2.5 million [[tonne]]s per year in a record time of 27 months at a cost of Rs. 430 million without any time or cost overrun.<ref>{{cite news|title=CPCL - History|url=http://profit.ndtv.com/stock/chennai-petroleum-corporation-ltd_chennpetro/reports|accessdate=1 June 2016|work=[[NDTV Profit]]}}</ref>

In 1985, AMOCO disinvested in favour of GOI and the [[shareholding]] percentage of GOI and NIOC stood revised at 62% and 15.38% respectively. Later GOI disinvested 16.92% of the paid up capital in favor of [[Unit Trust of India]], [[mutual fund]]s, [[Insurance company|insurance companies]] and [[bank]]s on 19 May 1992, thereby reducing its holding to 67.7%. The public issue of CPCL shares at a premium of Rs. 70 (Rs. 90 to FIIs) in 1994 was oversubscribed to an extent of 27 times and added a large [[shareholder]] base of over 90000. As a part of the restructuring steps taken up by the Government of India, [[Indian Oil Corporation Limited]] (IOCL) acquired equity from GOI in 2000-01. Currently IOC holds 51.88% while NIOC continued its holding at [[wax]] and [[petrochemical]] feedstocks production facilities.

CPCL has two refineries with a combined refining capacity of 11.5 million tonnes per year. The [[Manali, Chennai|Manali]] Refinery in [[Chennai]] has a capacity of 10.5 million tonnes per year and is one of the most complex refineries in India with fuel, lube, wax and petrochemical feedstocks production facilities. CPCL's second refinery is [[Nagapattnam Refinery]] located at [[Cauvery]] basin at [[Nagapattinam]] in [[Panagudi]]. This unit was set up in Nagapattinam with a capacity of 0.5 million tonnes per year in 1993 and later enhanced to 1.0 million tonnes per year.<ref>{{cite web |url=https://www.cpcl.co.in/business_refineries.htm |title=Business Refineries |website=CPCL |accessdate=17 March 2017 |archive-url=https://web.archive.org/web/20170106215607/https://www.cpcl.co.in/business_refineries.htm |archive-date=6 January 2017 |url-status=dead }}</ref>
Now this 1.0 million tonnes per year refinery is being dismantled to increase its capacity to 9.0 million tonne per year with cost of 27,000 [[crore]]s this new project will be completed by 2022 and will boost the company growth further.
The main products of the company are [[Liquefied petroleum gas|LPG]], Motor Spirit, superior [[kerosene]], [[aviation turbine fuel]], high speed [[diesel fuel|diesel]], [[naphtha]], [[bitumen]], [[Lubricant|lube]] base stocks, [[paraffin wax]], [[fuel oil]], [[hexane]] and [[petrochemical]] feed stocks. The wax plant at CPCL has an installed capacity of 30,000 tonnes per annum, which is designed to produce paraffin wax for manufacture of candle wax, waterproof formulations and match wax. A propylene plant with a capacity of 17,000 tonnes per annum was commissioned in 1988 to supply petrochemical feedstock to neighbouring downstream industries. The unit was revamped to enhance the propylene production capacity to 30,000 tonnes per annum in 2004. CPCL also supplies LABFS to a downstream unit for the manufacture of liner alkyl benzene.

CPCL plays the role of a mother industry supplying feedstocks to the neighbouring industries in Manali. CPCL's products are marketed through IOCL. CPCL's products are mostly consumed domestically except naphtha, fuel oil and lubes which are partly exported.

CPCL has also made pioneering efforts in the field of energy and water conservation by setting up a wind farm and sewage reclamation and sea water desalination plants.

The crude throughput for 2016-17 was 10.256 million metric tonnes (MMT). The company’s turnover for 2016-17 was Rs.40586 crores and the profit after tax was Rs.1030 crores & the crude throughput for 2017-18 was 10.789 million metric tonnes (MMT). The company’s turnover for 2018-19 was Rs.52201 crores and the loss after tax was Rs.213.36 crores.

CPCL's equity shares are listed on the [[Bombay Stock Exchange]] and [[National Stock Exchange of India]].

The production line has been affected multiple times due to nature's adversities in form of drought and excessive rains.<ref>{{cite news|title=Chennai floods: Chennai Petroleum plunges 5% as company shut its refinery|url=http://www.dnaindia.com/money/report-chennai-floods-chennai-petroleum-plunges-5-as-company-shut-its-refinery-2151602|work=[[Daily News and Analysis]]|date=3 Dec 2015}}</ref><ref>{{cite news|title=CPCL resumes rest of the operations at Manali Refinery|url=http://www.business-standard.com/article/companies/cpcl-resumes-rest-of-the-operations-at-manali-refinery-115122400676_1.html|work=[[Business Standard]]|date=24 Dec 2015}}</ref>

It is categorized as a [[Public sector undertakings in India#Governance|Miniratna]]-I company by the government.<ref>{{cite book|last1=compiled|last2=O'Brien|first2=edited by Derek|title=The Penguin-CNBC-TV18 business yearbook, 2009|date=2009|publisher=Published by Penguin Books India in association with CNBC-TV18 Network|location=New Delhi, India|isbn=978-0143065708|page=353}}</ref>

==See also==
*[[List of public sector undertakings in India]]

==References==
{{Reflist}}

==External links==
* [http://www.cpcl.co.in/ Chennai Petroleum Corporation Limited website]

{{Public Sector Undertakings in India}}
{{Energy Ministries and Departments of India}}
{{Energy companies and organizations in India}}

{{Authority control}}

[[Category:Government-owned companies of India]]
[[Category:Companies based in Chennai]]
[[Category:Oil and gas companies of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:India–Iran relations]]
[[Category:National oil and gas companies]]
[[Category:1985 establishments in Tamil Nadu]]

Chennai Petroleum Corporation - Revision history

>Citation bot at 14:56, 10 May 2021