Indian Oil Corporation
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|Traded as||BSE: 530965
|Industry||Oil and Gas|
|Headquarters||New Delhi, India|
|Sanjiv Singh (Chairman)|
|Products||Fuels, lubricants, petrochemicals|
|Revenue||₹4.45526 trillion (US$69 billion) (2015)|
|₹105.50 billion (US$1.6 billion) (2015)|
|₹48.71 billion (US$760 million) (2015)|
|Total assets||₹1.28059 trillion (US$20 billion) (2015)|
Number of employees
Indian Oil Corporation (IndianOil) is an Indian petrochemical company. It is the largest commercial enterprise in the country, with a net profit of 19,106 crore (USD 2,848 million) for the financial year 2016–17.
It is the leading Indian Corporate in Fortune's prestigious ‘Global 500’ listing of world's largest corporates at 168th position for the year 2017, and has a 33,000 strong workforce.
IndianOil's business interests overlap the entire hydrocarbon value-chain, including refining, pipeline transportation, marketing of petroleum products, exploration and production of crude oil, natural gas and petrochemicals. Also, IndianOil has ventured into alternative energy and globalisation of downstream operations. With subsidiaries in Sri Lanka, Mauritius and the UAE, IndianOil is scouting for new business opportunities in the energy markets across Asia and Africa. It has also formed about 20 joint ventures with reputed business partners from India and abroad to pursue diverse business interests. Indian Oil has its R&D Centre located in Faridabad, Delhi NCR.
IndianOil 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 IndianOil Group owns and operates 11 of India's 23 refineries with a combined refining capacity of 80.7 MMTPA (million metric tonnes per annum). IndianOil's cross-country pipeline network, for transportation of crude oil to refineries and finished products to high-demand centres, spans over 12,848 km. With a throughput capacity of 80.49 MMTPA for crude oil and petroleum products and 9.5 MMSCMD for gas, this network meets the vital energy needs of the consumers in an efficient, economical and environment-friendly manner. With a portfolio that is bedecked with leading energy brands like XTRAPREMIUM petrol, XTRAMILE diesel and PROPEL petrochemicals, IndianOil's SERVO lubricants and Indane LPG have earned the coveted Superbrand status.
- Digboi Refinery
- Guwahati Refinery
- Bongaigaon Refinery
- Barauni Refinery
- Gujarat Refinery
- Haldia Refinery
- Mathura Refinery
- Panipat Refinery is being expanded.
- Paradip Refinery – The 15 million tonnes per annum refinery in Paradip in Coastal Odisha has been inaugurated by PM Narendra Modi on 7 February 2016.
- Salaya - Mathura crude oil pipeline
- Mundra - Panipat crude oil pipeline
- Paradip-Haldia-Barauni crude 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
- Paradip - Hyderabad product pipeline
- IndianOil Mauritius
- Lanka IOC PLC
- IOC Middle East FZE
As of 31 March 2013, the company had 34,084 employees, out of which 2643 were women (7.8%). Its workforce includes 14,981 officers. The attrition rate in IndianOil is around 1.5%. The company incurred INR 78 billion on employee benefits during the FY 2012–13.
As of 23 August 2015, the promoters Government of India held approx. 58.57% of the shares in IndianOil. ONGC held approx. 9% of the shares. Remaining 12% of the shares are held by others. On 23 August 2015, the Government of India reduced its stake by another 10% bringing the number shares held to 58.57%.
|Shareholders (as on 23-August-2015)||Shareholding|
|Promoter Group (Government of India)||58.57%|
|private single body||40.13%|
|Foreign Institutional Investors (FII)||0.13%|
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
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. Petroleum stocks have been transferred from the Indian Oil Corporation (IndianOil) 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.
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- "Fortune Global 500 List (India)". Golbal500. Retrieved 26 May 2017.
- "IOC mulls expanding capacity at Panipat refinery to 21 million tonne". The Economic Times. Retrieved 29 November 2013.
- "PM Narendra Modi Inaugurates Indian Oil's Paradip Refinery". NDTV.com. 7 February 2016.
- "IOCL – Annual Report 2012-13" (PDF). BSE India. Retrieved 26 January 2014.
- "HighTea Chat Transcript with Mr. Biswajit Roy: GM (HRD), Indian Oil Corporation". Times Jobs. 22 January 2014. Retrieved 26 January 2014.
- "Listing Information – Indian Oil Corporation Limited". Economic Times. Retrieved 27 January 2014.
- "Govt to sell 10% stake in Indian Oil Corporation on Monday". The Times of India.
- "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.
- "'India to form crude oil reserve of 5 mmt'- Oil & Gas-Energy-News By Industry-News-The Economic Times". Economictimes.indiatimes.com. 20 June 2007. Retrieved 26 August 2010.