Indian Oil Corporation Limited (IOCL;

d/b/a A trade name, trading name, or business name, is a pseudonym used by companies that do not operate under their registered company name. The term for this type of alternative name is a "fictitious" business name. Registering the fictitious name w ...

IndianOil) is a central public sector undertaking under the ownership of the

Ministry of Petroleum and Natural Gas The Ministry of Petroleum and Natural Gas (MOP&NG) is a ministry of the government of India responsible for the exploration, production, refining, distribution, marketing, import, export, and conservation of petroleum, natural gas, petroleum ...

Government of India The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, ...

. It is headquartered in

New Delhi New Delhi (, , ''Naī Dillī'') is the capital of India and a part of the National Capital Territory of Delhi (NCT). New Delhi is the seat of all three branches of the government of India, hosting the Rashtrapati Bhavan, Parliament Ho ...

. It is a

public sector undertaking A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government ...

whose operations are overseen by the Ministry of Petroleum and Natural Gas. Indian Oil is ranked 142nd on the

Fortune Global 500 The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by ''Fortune'' magazine. Methodology Until 1989, it listed onl ...

list of the world's biggest corporations as of 2022. It is the largest government owned oil producer in the country, with a net profit of $6.1 billion for the financial year 2020-21. As of 31 March 2021, Indian Oil's employee strength is 31,648, out of which 17,762 are executives and 13,876 non-executives, while 2,776 are women, comprising 8.77% of the total workforce. Indian Oil's business interests overlap the entire

hydrocarbon In organic chemistry, a hydrocarbon is an organic compound consisting entirely of hydrogen and carbon. Hydrocarbons are examples of group 14 hydrides. Hydrocarbons are generally colourless and hydrophobic, and their odors are usually weak or ...

value chain A value chain is a progression of activities that a firm operating in a specific industry performs in order to deliver a valuable product (i.e., good and/or service) to the end customer. The concept comes through business management and was fir ...

, including refining, pipeline transportation, marketing of

petroleum products Petroleum products are materials derived from crude oil (petroleum) as it is processed in oil refineries. Unlike petrochemicals, which are a collection of well-defined usually pure organic compounds, petroleum products are complex mixtures. The m ...

exploration Exploration refers to the historical practice of discovering remote lands. It is studied by geographers and historians. Two major eras of exploration occurred in human history: one of convergence, and one of divergence. The first, covering most ...

and

production Production may refer to: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products (goods and services) * Production as a stati ...

of crude oil,

natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...

and

petrochemical Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable so ...

s. Indian Oil has ventured into alternative energy and globalisation of downstream operations. It has subsidiaries in Sri Lanka (

Lanka IOC Lanka IOC PLC is a subsidiary of Indian Oil Corporation which operates retail petrol and diesel stations in Sri Lanka. LIOC is Sri Lanka's only private sector organisation retailing fuels with an island-wide distribution network of 211 retail out ...

Mauritius Mauritius ( ; french: Maurice, link=no ; mfe, label= Mauritian Creole, Moris ), officially the Republic of Mauritius, is an island nation in the Indian Ocean about off the southeast coast of the African continent, east of Madagascar. It ...

(IndianOil (Mauritius) Ltd) and the

Middle East The Middle East ( ar, الشرق الأوسط, ISO 233: ) is a geopolitical region commonly encompassing Arabia (including the Arabian Peninsula and Bahrain), Asia Minor (Asian part of Turkey except Hatay Province), East Thrace (Europ ...

(IOC Middle East FZE).

History

In May 2018, IOCL became India's most profitable

government corporation A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the governme ...

for the second consecutive year, with a record profit of ₹21,346 crores in 2017–18. In February 2020, the company signed a deal with the Russian oil company Rosneft to buy 140,000 barrels per day of crude in year 2020. By 1 April 2020, IndianOil was in absolute readiness to launch BS-VI (Bharat Stage VI) fuels in all its retail outlets in

Telangana Telangana (; , ) is a state in India situated on the south-central stretch of the Indian peninsula on the high Deccan Plateau. It is the eleventh-largest state and the twelfth-most populated state in India with a geographical area of and 3 ...

and adopt world-class emission norms. In January 2021, sales were registered at an all time high of 410,000 barrels of oil per day till 26 January 2021.

Delek Delek Group is an Israeli conglomerate and one of Israel's largest companies, Delek Group is involved in the energy and infrastructure, with investments in upstream and downstream energy, water desalination and power plants. Delek Group' subsid ...

QatarEnergy QatarEnergy ( ar, قطر للطاقة), formerly Qatar Petroleum (QP), is a state owned petroleum company of Qatar. The company operates all oil and gas activities in Qatar, including exploration, production, refining, transport, and storage. The ...

, Saudi Aramco are its largest business partners with Abu Dhabi National Oil Company and

National Iranian Oil Company The National Iranian Oil Company (NIOC; fa, شرکت ملّی نفت ایران, Sherkat-e Melli-ye Naft-e Īrān) is a government-owned national oil and natural gas producer and distributor under the direction of the Ministry of Petroleum of ...

signing deals to deliver high production output at end of 2020 In March 2022,

Apollo Hospitals Apollo Hospitals Enterprise Limited is an Indian multinational healthcare group headquartered in Chennai. Along with the eponymous hospital chain, the company also operates pharmacies, primary care and diagnostic centres, telehealth clinics, ...

replaced Indian Oil Corporation in Nifty 50 benchmark index

Operations

Ashok Leyland Aviation Fuel Tanker at New Delhi Airport

Business divisions

There are seven major business divisions in the organization: # Refineries Division # Pipelines Division # Marketing Division # R&D Division # Petrochemicals Division # Exploration & Production (E&P) Division # Explosives and Cryogenics Division

Products and services

Indian Oil accounts for nearly half of India's petroleum products market share, 35% national refining capacity (together with its subsidiary Chennai Petroleum Corporation Ltd., or CPCL), and 71% downstream sector pipelines through capacity. The Indian Oil Group owns and operates 11 of India's 23 refineries with a combined refining capacity of 80.7 million

tonne The tonne ( or ; symbol: t) is a unit of mass equal to 1000 kilograms. It is a non-SI unit accepted for use with SI. It is also referred to as a metric ton to distinguish it from the non-metric units of the short ton ( United State ...

s per year. Indian Oil's cross-country pipeline network, for the transport of crude oil to refineries and finished products to high-demand centres, spans over 13,000 km. The company has a throughput capacity of 80.49 million tonnes per year for crude oil and petroleum products and 9.5 million cubic metres per day at

standard conditions Standard temperature and pressure (STP) are standard sets of conditions for experimental measurements to be established to allow comparisons to be made between different sets of data. The most used standards are those of the International Union ...

for gas. On 19 November 2017, IOCL, in collaboration with Ola, launched India's first electric charging station at one of its petrol-diesel stations in Nagpur. Indian governments' National Electric Mobility Mission Plan launched in 2013 aims at gradually ensuring a vehicle population of 6 to 8 million electric and hybrid vehicles in India by 2020. Servo is the lubricants brand under which IOCL operates its lubricant business. Servo is the largest selling lubricant brand in both automotive and industrial segments. It is said that deals with

Royal Dutch Shell Shell plc is a British multinational oil and gas company headquartered in London, England. Shell is a public limited company with a primary listing on the London Stock Exchange (LSE) and secondary listings on Euronext Amsterdam and the New Yo ...

and

Surgutneftegas Surgutneftegas ( rus, ПАО «Сургутнефтегаз», p=sʊrɡʊtnʲɪftʲɪˈɡas) is a Russian oil and gas company created by merging several previously state-owned companies owning large oil and gas reserves in Western Siberia. The ...

and Chevron Corporation have been signed for exclusive business plans for supply in Asia with the Indian Oil Company, which are worth 20 billion dollars per year.

Refinery locations

* Barauni Refinery * Bongaigaon Refinery * CPCL, Chennai * CPCL, Narimanam * Digboi Refinery *

Guwahati Refinery Guwahati Refinery was set up at Noonmati in Guwahati on 1 January 1962. Guwahati Refinery is the first Public Sector refinery of India and belongs to Indian Oil Corporation Limited. The refinery was inaugurated by Late Pandit Jawahar Lal Nehru, ...

Haldia Refinery Haldia Refinery is an oil refinery operated by Indian Oil Corporation, located in Haldia city in the state of West Bengal. This refinery has a capacity of 8 million tonnes per year. For processing 2.5 MMTPA of Middle East crude, two sectors wer ...

* Koyali Refinery * Mathura Refinery * Panipat Refinery * Paradip Refinery

Pipelines

*Salaya - Mathura crude oil pipeline *Mundra - Panipat crude oil pipeline *Paradip-Haldia-Barauni crude oil pipeline * Kandla–Bhatinda Oil Pipeline *Koyali - Mohanpura product pipeline *Koyali - Ahmedabad product pipeline *Guwahati - Siliguri product pipeline *Barauni - Kanpur product pipeline *Haldia - Mourigram - Rajbandh product pipeline *Haldia - Barauni product pipeline *Panipat - Jalandhar LPG pipeline *Dadri - Panipat R-LNG pipeline *Koyali - Ratlam product pipeline *Koyali - Dahej/ Hazira product pipeline *Panipat - Bhatinda product pipeline *Panipat - Rewari product pipeline *Panipat - Ambala - Jalandhar product pipeline *Mathura - Delhi product pipeline *Mathura - Bharatpur product pipeline *Mathura - Tundla product pipeline *Chennai - Trichy - Madurai product pipeline *Chennai - Bangalore product pipeline *Chennai ATF pipeline *Bangalore ATF pipeline *Kolkata ATF pipeline *Paradip - Raipur - Ranchi product pipeline *Jaipur Panipat Naphtha Pipeline *Paradip - Hyderabad product pipeline *Paradip-Haldia-Durgapur LPG Pipeline *Paradip-Somnathpur-Haldia Product Pipeline

Foreign subsidiaries

Subsidiaries include: * IndianOil (Mauritius) Limited * IOC Middle East FZE, UAE * Lanka IOC PLC, Sri Lanka *IOC Sweden AB, Sweden *IOCL (USA) Inc.,

USA The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

*IndOil Global B.V.

Netherlands ) , anthem = ( en, "William of Nassau") , image_map = , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of the Netherlands , established_title = Before independence , established_date = Spanish Netherl ...

*IOCL Singapore Pte. Ltd. *Tisco is trying to establish same units of petroleum products.s_a7

Employees

As of 31 March 2021, the company had 31,648 employees, out of which 2,775 were women (8.77%). Its workforce includes 17,762 executives and 13,886 non-executives. The attrition rate in Indian Oil is around 1.5%. The company spent ₹96.57 billion on employee benefits during the FY 2016–17.

Listing and shareholding

Indian Oil's

equity shares Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States. They are known as equity shares or ordinary shares in the UK and other Comm ...

are listed on the

Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange i ...

and

National Stock Exchange of India National Stock Exchange of India Limited (NSE) is the leading stock exchange under the ownership of various group of domestic and global financial institutions, public and privately owned entities and individuals. It is located in Mumbai, M ...

. As of September 2018, it was owned 51% by the Government of India (through the

President of India The president of India ( IAST: ) is the head of state of the Republic of India. The president is the nominal head of the executive, the first citizen of the country, as well as the commander-in-chief of the Indian Armed Forces. Droupadi Mur ...

), and 43% by other entities. The latter included corporate bodies (20%), ONGC (14%), LIC (6%), Foreign portfolio investors,(6%) Oil India Limited (5%) and Indian Mutual funds (4%). This was similar to its shareholding in 2017. As of 31 December 2017, the Promoters

held approx. 56.98% of the shares in Indian Oil Corporation. The public held the rest of the shares – 43.02%. This includes Mutual Fund Companies, Foreign Portfolio Investors, Financial Institutions/ Banks, Insurance Companies, Individual Shareholders and Trusts. IOCL's Market cap as of December 2022 was Rs. 1,10,075.05 crore.

Strategic partnerships

IOC Phinergy Pvt Ltd

Indian Oil Corporation (IOC) buys a stake in

Phinergy Phinergy is an Israeli clean energy company developing metal-air technology, turning metals – namely aluminum and zinc - into a new way to store, transport and generate clean and safe energy. Applications include energy backup for critical sites ...

(

Israel Israel (; he, יִשְׂרָאֵל, ; ar, إِسْرَائِيل, ), officially the State of Israel ( he, מְדִינַת יִשְׂרָאֵל, label=none, translit=Medīnat Yīsrāʾēl; ), is a country in Western Asia. It is situated ...

) for manufacturing, development, and sale of aluminum-air batteries (Al-Air batteries) for electric vehicles. This joint venture is ready to facilitate the development of Al-Air technology by intending to set up a factory in India.

Competition

Indian Oil Corporation has two major domestic competitors –

Bharat Petroleum Bharat Petroleum Corporation Limited (BPCL) is an Indian central public sector undertaking under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It operates three refineries in Bina, Kochi and Mumbai. BPCL is ...

and Hindustan Petroleum – and both are state-controlled, like Indian Oil Corporation. Major private competitors include –

Reliance Petroleum Reliance Petroleum is an Indian petroleum company that specializes in oil and energy, owned by Mukesh Ambani of Reliance Industries Limited (RIL), one of India's largest private sector companies. It is based in Ahmedabad, Gujarat, India and ...

, Essar Oil and

Shell Shell may refer to: Architecture and design * Shell (structure), a thin structure ** Concrete shell, a thin shell of concrete, usually with no interior columns or exterior buttresses ** Thin-shell structure Science Biology * Seashell, a hard o ...

Oil Industry Development Board

India has begun the development of a strategic crude oil reserve sized at , enough for two weeks of consumption. Petroleum stocks have been transferred from the Indian Oil Corporation to the Oil Industry Development Board (OIDB). The OIDB then created the Indian Strategic Petroleum Reserves Ltd (ISPRL) to serve as the controlling government agency for the strategic reserve.

References

External links

* {{authority control Oil and gas companies of India Government-owned companies of India Companies based in Delhi Non-renewable resource companies established in 1964 Indian companies established in 1964 NIFTY 50 National oil and gas companies 1964 establishments in Delhi Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange