Indian Oil Corporation
|Traded as||BSE: 530965
|India, Sri Lanka, Mauritius, and Middle East|
|Mr. B.ASHOK (Chairman)|
|Products||Fuels, lubricants, petrochemicals etc|
|INR 4,50,756 crore(US$ 73.7 billion)(2015)|
|Profit||INR 5,273 crore(2014-15)|
|Owner||Government of India (68.57%)|
Number of employees
Indian Oil Corporation (IndianOil) is India's largest commercial enterprise, with a sales turnover of Rs. 4,50,756 crore (US$ 73.7 billion) and profits of Rs. 5,273 crore for the year 2014-15. It is also the leading Indian corporate in Fortune's prestigious 'Global 500' listing of the world's largest corporates (and first among Indian enterprises), ranked at the 119th position for the year 2015.
As India's flagship national oil company, with a 33,000-strong work-force currently, IndianOil has been meeting India’s energy demands for over half a century. With a corporate vision to be 'The Energy of India' and to become 'A globally admired company,' IndianOil's business interests straddle the entire hydrocarbon value-chain – from refining, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas, marketing of natural gas and petrochemicals, besides forays into alternative energy and globalisation of downstream operations.
Having set up subsidiaries in Sri Lanka, Mauritius and the UAE, the Corporation is simultaneously scouting for new business opportunities in the energy markets of Asia and Africa. It has also formed about 20 joint ventures with reputed business partners from India and abroad to pursue diverse business interests.
IndianOil accounts for nearly half of India's petroleum products market share, 31% 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 10 of India's 22 refineries with a combined refining capacity of 65.7 MMTPA (million metric tonnes per annum), i.e., approx. 1.31 million barrels per day. The 15-MMTPA refinery under commissioning at Paradip on the east coast will raise the capacity to over 80 MMTPA.
The Corporation's cross-country pipelines network, for transportation of crude oil to refineries and finished products to high-demand centres, spans over 11,220 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.
The Corporation has a portfolio of leading energy brands that includes Indane LPG cooking gas, SERVO lubricants, XTRAPREMIUM petrol, XTRAMILE diesel, XTRAPOWER Fleet Card, PROPEL petrochemicals, etc. Besides IndianOil, both SERVO and Indane have earned the coveted Superbrand status. XTRAPOWER Fleet Card Program is the largest payment and loyalty program in India in terms of value transacted.
IndianOil's network of over 43,000 customer touch-points reaches petroleum products to every nook and corner of the country. These include over 24,400 petrol & diesel stations, including 6,200 Kisan Seva Kendra outlets (KSKs) in the rural markets. The Corporation has a 65% share of the bulk consumer business, and almost 6,400 dedicated pumps are in operation for the convenience of large-volume consumers like the defence services, railways and state transport undertakings, ensuring products and inventory at their doorstep. They are backed for supplies by 136 bulk storage terminals and depots, 98 aviation fuel stations and 91 LPG bottling plants.
Indane LPG cooking gas reaches the doorsteps of 8.8 crore households in about 3,264 markets through a network of 7,934 distributors. IndianOil's Aviation Service commands a 63.6% market share in aviation fuel business, serving national and international flag carriers, private airlines and the Indian defence services. During the XII Plan period (2012-17), the Corporation is investing Rs. 56,200 crore in a host of projects that include augmentation of refining capacity, expansion of petrochemicals infrastructure, and building the E&P portfolio.
IndianOil's sprawling R&D Centre at Faridabad near Delhi is one of Asia's finest, and plays a key role in supporting the Corporation's business interests by developing economical, environment-friendly technology solutions. It has won recognition for four decades of pioneering work in lubricants formulation, refinery processes, pipeline transportation and alternative fuels, and holds 384 active patents, of which 233 are international patents.
The vibrant research undertaken by the Centre in tribology is showcased by IndianOil's SERVO® productline, with over 4,000 lubricant & grease formulations to suit all conceivable applications. The Centre has also developed several in-house refinery process technologies and catalysts to suit Indian conditions. Its alternative energy programmes include bio-energy, solar energy, Hydrogen energy, H-CNG blends, synthetic fuels and shale oil. The Centre is also focussed on cutting-edge research in the areas of nanotechnology, petrochemicals & polymers, coal gasification/ liquefaction, and gas-to-liquid technologies.
IndianOil is the second largest player in the domestic petrochemicals market, besides exports to about 60 countries. The Corporation offers a full slate of petrochemical products and intermediates under the brand name PROPEL.
IndianOil made its big-ticket entry into petrochemicals with the commissioning of the country's largest LAB (Linear Alkyl Benzene, used in the production of detergents) plant at its Koyali Refinery in August 2004. An integrated PX/PTA (Paraxylene/Purified Terephthalic Acid) complex came up at Panipat in Haryana in 2006. The PTA plant is the single largest unit in India, with a world-scale capacity of 5,53,000 MTPA, and produces polyester intermediates. A world-class Naphtha Cracker with downstream polymer units, set up at Panipat in 2010, is the largest operating cracker capacity in India producing polymer (plastics) intermediates.
To further consolidate its presence in the petrochemicals business, IndianOil is setting up a polypropylene plant and an ethylene glycol plant at its Paradip Refinery.
As part of its Exploration & Production portfolio, IndianOil has participating interest in 10 domestic and seven overseas blocks. Out of the 10 domestic blocks, the Corporation is the operator (with 100% participating interest) in two onshore exploration blocks in the Cambay Basin, and holds non-operating participating interest ranging from 20% to 43.5% in the remaining eight. The seven overseas blocks are located in Libya, Gabon, Nigeria, Yemen, Venezuela, Canada and USA.
IndianOil took up natural gas marketing in 2004. Since then, the Corporation has expanded its customer base significantly by leveraging its inherent strengths and countrywide reach. Its innovative 'LNG at the doorstep' initiative has benefited bulk users located away from gas pipelines.
IndianOil is co-promoter of PLL (Petronet LNG Ltd.), which has set up LNG (Liquefied Natural Gas) import terminals at Dahej & Kochi, and has marketing rights for 30% of the LNG procured by PLL. It is also in the process of sourcing more quantities of LNG directly to meet the increasing domestic requirements, and is setting up a 5-MMTPA terminal at Ennore near Chennai for LNG imports.
IndianOil currently operates city gas distribution networks in Agra and Lucknow through Green Gas Ltd., its joint venture with GAIL (India) Ltd. Similar networks are coming up at Allahabad and Chandigarh, to be followed by Ernakulam, Daman and Panipat. Furthermore, in consortium with GSPC, HPCL and BPCL, IndianOil has won bids for laying gas pipelines from Mallavaram to Bhilwara and Vijaypur via Bhopal, from Mehsana to Bhatinda, and from Bhatinda to Jammu and Srinagar. The Corporation has also formed a consortium with M/s. Adani Gas Ltd. to develop city gas distribution networks on a pan-India basis.
Green Energy Initiatives
IndianOil has ambitious plans to broaden its energy basket with alternative energy options such as wind, solar, bio-fuels and nuclear power.
Wind power systems to the tune of 69.3 MW have been installed in the States of Gujarat and Andhra Pradesh. A 5-MW grid-connected solar power plant at Rawra, Rajasthan, is operational since 2012. Solar power systems of about 900 kW have also been installed at various IndianOil installations and offices across the country. Steps are underway to set up an additional 200 MW of wind power and 60 MW of solar power systems.
As a major initiative in reducing carbon emissions, the Corporation has so far converted over 2,600 fuel stations to operate on solar energy. The cumulative capacity of 8.6 MW from these solar photo-voltaic power systems, with an annual generation capacity of 103 lakh units, has carbon emission reduction potential of 8,500 tonnes per year. IndianOil's extensive retail network in rural areas was leveraged to sell over 1.4 lakh rechargeable solar lanterns to help replace the traditional kerosene wick lamps in rural households which are not yet connected to grid power.
IndianOil has the largest captive plantation – covering 8,000 hectares – for bio-fuel production in India in the States of Chhattisgarh, Madhya Pradesh and Uttar Pradesh. To straddle the complete bio-fuel value chain, IndianOil has formed two joint ventures, IndianOil CREDA Biofuels Ltd. and IndianOil Ruchi Biofuels LLP. Currently, ethanol production from lignocellulosic sources such as rice straw, cotton stalk, bamboo, etc., is also being actively explored.
As the flagship public sector enterprise of India, IndianOil has successfully combined its corporate social responsibility agenda with its business offerings, meeting the energy needs of millions of people every day, across the country - from Kashmir in the north to Kanya Kumari in the south, from Kutch in the west to Kohima in the east.
Besides, the Corporation partners communities in which it operates by supporting innumerable initiatives connected with health, family welfare, education, environment protection, provision of potable water, sanitation, and empowerment of women and other marginalised groups. IndianOil has always been in the forefront in times of national emergencies, and IndianOilPeople have time and again rallied to help victims of natural calamities by maintaining uninterrupted supply of petroleum products, and contributing to relief and rehabilitation measures in cash and kind.
- List of companies of India
- Global strategic petroleum reserves
- IndianOil Institute of Petroleum Management
- List of public sector undertakings in India
- Government-owned corporation
- Kandla-Bhatinda Oil Pipeline
- | news, "Financial Statement - Indian Oil Corporation Limited"
- Official website
- News on  at Fortune.com
-  at Jagran Josh
-  at The Hindu
- IndianOil on Facebook