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| Type | Public |
|---|---|
| Traded as | BSE: 530965 NSE: IOC |
| Industry | Oil and gas |
| Founded | 1964 |
| Headquarters | New Delhi, India |
| Area served | India |
| Key people | RS Butola (Chairman) |
| Products | Fuels, lubricants, petrochemicals |
| Revenue |  US$ 76.05 billion (2012)[1] |
| Operating income | US$ 3.30 billion (2012)[1] |
| Profit |  US$ 786 million (2012)[1] |
| Total assets | US$ 40.88 billion (2012)[1] |
| Total equity | US$ 11.59 billion (2012)[1] |
| Owner(s) | Government of India |
| Employees | 36,198 (2012)[1] |
| Website | www.iocl.com |
Indian Oil Corporation Limited, or IndianOil, is an Indian state-owned oil and gas corporation with its headquarters in New Delhi, India. The company is the world's 83rd largest public corporation, according to the Fortune Global 500 list, and the largest public corporation in India when ranked by revenue.[2] IndianOil and its subsidiaries account for a 49% share in the petroleum products market, 31% share in refining capacity and 67% downstream sector pipelines capacity in India. The IndianOil Group of Companies owns and operates 10 of India's 22 refineries with a combined refining capacity of 65.7 million metric tonnes per year. The President of India owns 78.92% (1.9162 billion shares) in the company.[citation needed] In FY 2012 IOCL sold 75.66 million tonnes of petroleum products and reported a PBT of 
37.54 billion, and the Government of India earned an excise duty of 232.53 billion and tax of 10.68 billion. It is one of the seven Maharatna status companies of India, apart from Coal India Limited, NTPC Limited, Oil and Natural Gas Corporation, Steel Authority of India Limited, Bharat Heavy Electricals Limited and Gas Authority of India Limited [3]
IndianOil operates the largest and the widest network of fuel stations in the country, numbering about 20,575 (16,350 regular ROs & 4,225 Kisan Seva Kendra). It has also started Auto LPG Dispensing Stations (ALDS). It supplies Indane cooking gas to over 66.8 million households through a network of 5,934 Indane distributors. In addition, IndianOil's Research and Development Center (R&D) at Faridabad supports, develops and provides the necessary technology solutions to the operating divisions of the corporation and its customers within the country and abroad. On 28 May 2012, Indian Oil hinted at reduction in prices of petrol.[4]
Contents |
History [edit]
Indian Oil began operations in 1959 as Indian Oil Company Ltd. The Indian Oil Corporation was formed in 1964, with the merger of Indian Refineries Ltd. Indian Oil is the biggest oil producer and marketeer Oil's product range covers petrol, diesel, LPG, auto LPG, aviation turbine fuel, lubricants, naphtha, bitumen, paraffin, kerosene etc. Xtra Premium petrol, Xtra Mile diesel, Servo lubricants, Indane LPG cooking gas, Autogas LPG, IndianOil Aviation are some of its prominent brands.
Recently Indian Oil has also introduced a new business line of supplying LNG (liquefied natural gas) by cryogenic transportation. This is called "LNG at Doorstep".
Brands [edit]
- IndaneGas - Domestic and Industrial Gas
- AutoGas - Automotive Natural Gas
- Xtra Premium - Automotive Premium Petrol
- Xtra Mile - Automotive Premium Diesel
- Servo - Lubricants and Greases
Refineries [edit]
- Digboi Refinery, in Assam, is India's oldest refinery and was commissioned in 1901. Originally a part of Assam Oil Company, it became part of IndianOil in 1981. Its original refining capacity had been 0.5 MMTPA since 1901. Modernisation project of this refinery was completed by 1996 and the refinery now has an enhanced capacity of 0.65 MMTPA. UOP licensed the technology for the Coking process in this refinery.
- Guwahati Refinery, the first public sector refinery of the country, was built with Romanian collaboration and was inaugurated by Late Pt. Jawaharlal Nehru, the first Prime Minister of India, on 1 January 1962. Its capacity is 1 MMTPA.
- Bongaigaon Refinery became the eighth refinery of IndianOil after merger of Bongaigaon Refinery & Petrochemicals Limited w.e.f. 25 March 2009. It is located at Dhaligaon in Chirang district of Assam, 200 km west of Guwahati.
- Barauni Refinery, in Bihar, was built in collaboration with Russia and Romania. It was commissioned in 1964 with a capacity of 1 MMTPA. Its capacity today is 6 MMTPA.
- Gujarat Refinery, at Koyali (near Vadodara) in Gujarat in Western India, is IndianOil’s second largest refinery. The refinery was commissioned in 1965. It also houses the first hydrocracking unit of the country. Its present capacity is 13.70 MMTPA.
- Haldia Refinery is the only coastal refinery of the Corporation, situated 136 km downstream of Kolkata in the Purba Medinipur (East Midnapore) district. It was commissioned in 1975 with a capacity of 2.5 MMTPA, which has since been increased to 7.5 MMTPA
- Mathura Refinery was commissioned in 1982 as the sixth refinery in the fold of IndianOil and with an original capacity of 6.0 MMTPA. Located strategically between the historic cities of Delhi and Agra, the capacity of Mathura refinery was increased to 8.8 MMTPA.
- Panipat Refinery is the seventh and largest refinery of IndianOil. The original refinery with 6 MMTPA capacity was built and commissioned in 1998. Panipat Refinery has since expanded its refining capacity to 15 MMTPA.
- Paradip Refinery- The commissioning of 15 million tonnes per annum refinery in November 2012 has been delayed and is now expected to be operational only in September 2013.[5]
Subsidiary refineries – Chennai Petroleum (10.5 MMTPA)
Group companies and joint ventures [edit]
.JPG)
- IndianOil (Mauritius) Ltd.
- Lanka IOC PLC – Group company for retail and storage operations in Sri Lanka. It is listed in the Colombo Stock Exchange. It was locked into a bitter subsidy payment dispute with Sri Lanka's Government which has since been resolved.[citation needed]
- IOC Middle East FZE
- Chennai Petroleum Corporation Limited
- Green Gas Ltd. – a joint venture with Gas Authority of India Ltd. for city-wide gas distribution networks.
- Indo Cat Pvt. Ltd., with Intercat, USA, for manufacturing 15,000 tonnes per annum of FCC (fluidised catalytic cracking) catalysts & additives in India.
- IndianOil – CREDA Biofuels Ltd., a joint venture with Chattisgarh government for production and marketing of Bio-fuels.
- Numerous exploration and production ventures with Oil India Ltd., Oil and Natural Gas Corporation
- India Synthetic Rubber Ltd - A joint venture between IOCL, Taiwan Synthetic Rubber Corporation(Taiwan) and Marubeni(Japan)
International rankings [edit]
IndianOil is the highest ranked Indian company in the Fortune Global 500 listing, at the 83rd position in 2012. It is also the 18th largest petroleum company in the world and the No. 1 petroleum trading company among the national oil companies in the Asia-Pacific region. IOCL was featured on the 2011 Forbes Global 2000 at position 243. It is the fifth most valued brand in India according to an annual survey conducted by Brand Finance and The Economic Times in 2010.[6]
Loyalty programs [edit]
XTRAPOWER Fleet Card Program is aimed at Large Fleet Operators. Currently it has 1 million customer base. XTRAREWARDS is a recently launched loyalty program for retail customers where customers can earn reward points on their purchases.[citation needed]
Concerns [edit]
Indian Oil Corporation Limited, has the dubious distinction of following a HR Policy, by which it has denied promotion to thousands of its professionally qualified officers for long, without having any charge against them. It has used promotion & transfer as a tool to punish its honest and uncompromising officers. The corporation has bred inefficiency, regional bias and corruption through ages, since it enjoys assured profitability by virtue of govt. policies.
Like Railways, in Indian Oil too, Board level appointments are made in consideration of favours received by the Ministry.
Competitors [edit]
Indian Oil Corporation has two major domestic competitors, Bharat Petroleum and Hindustan Petroleum. Both are state-controlled, like Indian Oil Corporation. There are two private competitors, Reliance Industries and Essar Oil.
Oil Industry Development Board [edit]
India has begun the development of a strategic crude oil reserve sized at 37.4 million barrels (5,950,000 m3), enough for two weeks of consumption.[7] Petroleum stocks have been transferred from the Indian Oil Corporation(IndianOil) to the Oil Industry Development Board (OIDB).[8] The OIDB then created the Indian Strategic Petroleum Reserves Ltd (ISPRL) to serve as the controlling government agency for the strategic reserve.[9]
See also [edit]
- List of companies of India
- Global strategic petroleum reserves
- IndianOil Institute of Petroleum Management
- Fortune India 500
- List of public sector undertakings in India
- Fortune Global 500
- Government-owned corporation
- Navratna
References [edit]
- ^ a b c d e f "Indian Oil Corporation Limited Financial Statements". Indian Oil Corporation.
- ^ "Global 500". Fortune Global 500. Retrieved 9 July 2012.
- ^ [1]
- ^ "Indian Oil Corporation hints at cut in petrol price". Retrieved 28 May 2012.
- ^ "Delay in commissioning of Paradip refinery". 11-08-2012.
- ^ "India's top 10 brands". business.rediff.com. Retrieved 26 October 2010.
- ^ "Alexander's Gas & Oil Connections – India to build up storage of crude oil". Gasandoil.com. 21 September 2004. Retrieved 26 August 2010.
- ^ "Strategic oil reserves to come directly under Govt". The Hindu Business Line. 2 April 2006. Retrieved 26 August 2010.
- ^ 20 June 2007, 09.18 pm IST, PTI (20 June 2007). "'India to form crude oil reserve of 5 mmt'- Oil & Gas-Energy-News By Industry-News-The Economic Times". Economictimes.indiatimes.com. Retrieved 26 August 2010.
External links [edit]
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