HPCL is a Fortune 500 company, with an annual turnover of Rs. 1,16,428 Crores and sales/income from operations of Rs 1,31,802 Crores (US$ 25,618 Millions) during FY 2008-09, having about 20% Marketing share in India and a strong market infrastructure. Corresponding figures for FY 2007-08 are: Turnover of Rs 1,03,837 Crores and sales/income from Operations of Rs.1,12,098 Crores (US$ 25,142 Million). Hindustan Petroleum is India's second-largest oil refiner (Indian Oil is #1, Bharat Petroleum is #3) and accounts for more than 16% of the country's total refining requirements. The company has two major refineries -- one in Mumbai, the other in the southern Indian city of Vishakapatnam -- and produces lubricants, aviation fuel, liquefied petroleum gas, and light diesel oil. Hindustan Petroleum also holds a 17% stake in a refinery at Mangalore and is establishing another refinery in the state of Punjab. Other businesses include pipelines, a lube refinery (with a 40% share of the lube oil market), and 8,330 gas stations nationwide. The Indian government owns 51% of the company, which was established in 1974.