Indian Oil Corporation
|Traded as||BSE: 530965
|Industry||Oil and Gas|
|Headquarters||New Delhi, India|
|Mr. B. ASHOK (Chairman)|
|Products||Fuels, lubricants, petrochemicals|
|Revenue||₹445526 crore (US$66 billion) (2015)|
|₹10550 crore (US$1.6 billion) (2015)|
|₹4871 crore (US$720 million) (2015)|
|Total assets||₹128059 crore (US$19 billion) (2015)|
|Owner||Government of India (68.57%)|
Number of employees
|32,962 (31 March 2015)|
Indian Oil Corporation Limited (IndianOil) is India's largest commercial enterprise headquartered in Delhi, with a sales turnover of Rs. 4,50,756 crore (US$ 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, 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, 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).
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, PROPEL petrochemicals, etc. Besides IndianOil, both SERVO and Indane have earned the coveted Superbrand status.
IOCL has various refineries across India.
- Digboi Refinery
- Guwahati Refinery
- Bongaigaon Refinery
- Barauni Refinery
- Gujarat Refinery
- Haldia Refinery
- Mathura Refinery
- Panipat Refinery is being expanded.
- Paradip Refinery - The commissioning of 15 million tonnes per annum refinery has been started in April 2015 and is scheduled to fully commission all the units by March 2016.
- IndianOil is the highest ranked Indian company in the Fortune Global 500 listing, at the 119th position in 2013. 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.
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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- "Alexander's Gas & Oil Connections – India to build up storage of crude oil". Gasandoil.com. 21 September 2004. Retrieved 26 August 2010.
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