Chennai Petroleum Corporation Limited (CPCL), formerly known as Madras Refineries Limited (MRL) was formed as a joint venture in 1965 between the Government of India (GOI), AMOCO and National Iranian Oil Company (NIOC) having a share holding in the ratio 74%, 13% and 13% respectively.
In 1985, AMOCO disinvested its stake in favour of the GOI and the shareholding percentage of GOI and NIOC stood revised at 84.62% and 15.38% respectively. Later GOI disinvested 16.92% of the paid up capital in favour of Unit Trust of India, mutual funds, insurance companies and banks on 19th 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 38 times and added a large shareholder base. As a part of the restructuring steps taken up by the Government of India, Indian Oil Corporation acquired equity from GOI in 2000-01.
Business area of the company
The company is in the business of refining crude oil to produce & supply various petroleum products.
Petrochemical Feed Stocks
Awards and recognitions
CPCL was awarded the following prizes: Special prize for best reduction in steam leaks for the year 2013. 2nd prize for fumace/Boiler efficiency for the year 2012. Special prize for CBR for Insulation effectiveness of fumace for the year 2012 by Centre for High Technology (CHT)
The Golden Peacock award for Occupational Health and Safety for the year 2013 by Institute of Directors (10D).
Greentech safety award in silver category for Petroleum sector by Greentech Foundation.
CPCL has been selected for Safety Award under Group A (Chemical Industries) for the year 2011 for two categories-Scheme-I Highest Reduction in Weighted Frequency Rate Over Previous Years. Scheme-II Longest Accident free period in man hours in Group A by Government of Tamilnadu.
Chennai Petroleum Corporation Limited's (CPCL) Cauvery Basin Refinery has been awarded the Green Award for Industries by the Tamil Nadu Pollution Control Board (TNPCB), for the unique measures adopted by the Company for the preservation of environment by Tamil Nadu Pollution Control Board (TNPCB).
Chennai Petroleum Corporation Limited% (CPCL), New Dining Hall in Refinery-Ill has received IGBC's (Indian Green Building Council) Silver Rating for having been constructed complying with Green Building Standards. With the Globe perceiving the concept of Energy conservation & its efficient utilization, CPCL's instigation towards the mission of energy conservation has secured it a place in this year's IGBC Ratings by IGBC's (Indian Green Building Council).
The Petrofed Innovator of the Year-Team' award for the year 2013 was bagged by Chennai Petroleum Corporation Limited (CPCL) jointly with Indian Oil Corporation Limited (IOCL). The award was presented for the innovation in the Indigenous development and commercial application technology for 'Co-processing of Non-edible Vegetable Oils in Petroleum Refineries' leading to better product quality. Demonstration of this technology was successfully carried out in CPCL's Plant-13 (Diesel Hydrotreater) and the end product was obtained with high quality as envisaged by Petrofed.
Chennai Petroleum Corporation (CPCL)'s Manali Refinery and Cauvery Basin Refinery have been selected for the 'Safety Star Award' and 'Safety Appreciation Award' for 2012' respectively by the National Safety Council, Tamilnadu Chapter in appreciation of the high level of safety measures exercised by the Company by National Safety Council, Tamilnadu.
CPCL has been awarded with 'Governance Now PSU Award' for 'Green Initiatives' and 'Research Innovation' in the Miniratna category I Of CPSEs by Miniratna category I Of CPSE.
CPCL secured Raibhasha Shield by Town Official language Implementation committee by Town Official language Implementation committee.
SAFECON- Best Safety Practices Award for CBR was received from Directorate of Industrial Safety and Health and CII by Directorate of Industrial Safety and Health and CII.
CPCL was awarded the 'Highest Tax payer Award 2015-16 by Central Excise Department. This honor was conferred on CPCL for being the top assessee in Chennai Zone, and in a larger way for its contribution towards revenue and industrial growth by Central Excise Department.
CPCL has been awarded the OGCF - 2016 Award for Furnace / Boiler Efficiency by Centre for HighTechnology by CHT - Centre for HighTechnology.
The Export Excellence Award for the year 2014 was awarded to CPCL under 'Top Exporter in Southern Region' in Gold category, for the active role played in the Exports made by CPCL by FIEO SR Export Award.
CPCL's Cauvery Basin Refinery (CBR) has been awarded the prestigious GREEN AWARD for the second consecutive year by TamilNadu Pollution Control Board (TNPCB) for the various environmental protection measures undertaken by CBR by TamilNadu Pollution Control Board.
CPCL has been awarded the Best Enterprise Award by WIPS, under the aegis of SCOPE for the year 2016 under Mini ratna category by Forum of women in Public sector.