Kochi Refinery

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Kochi Refineries Ltd. is a public sector undertaking set up in pursuance of a formation agreement dated April 27, 1963 between Govt. of India, Phillips Petroleum Company of USA and Duncan Brothers of Calcutta with an authorised capital of Rs.15 crores. Subsequently, the authorised capital was increased to Rs.75 crores and the paid up capital in March, 1989 stood at Rs.68.47 crores after issue of shares on rights basis. During the year, the Phillips Petroleum Company also completed withdrawal of their equity by disinvesting of shares. With this, in March 1989, Government was holding 61.58 percentage of equity shares of the Company. At present authorized capita of KRL is Rs 1150 crore and paid up capital Rs. 138.47 crore. M/s Bharat Petroleum Corporation Limited ( BPCL) holds 54.81% of the total shares, the balance of the shares being held by Government of Kerala, Financial Institutions and the Public. The installed capacity of 2.5 MMTPA was increased to 3.3 in September, 1973 and to 4.5 MMTPA in November, 1994. The capacity of the oil refinery was further increased to 7.5 MMTPA in December, 95.


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