Indian Oil Corporation
|Traded as||BSE: 530965
|Industry||Oil and gas|
|India Sri Lanka Mauritius Middle East|
|Mr. B. ASHOK (Chairman)|
|Products||Fuels, lubricants, petrochemicals|
|INR 4,37,526 crore (US 73.7 billion) (2014–15)|
|INR 5,273 crore (2014–15)|
|Owner||Government of India (68.57%)|
Number of employees
|32,962 (31 March 2015)|
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, 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.
Products and services
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 in November 2012 has been delayed and is now expected to be operational only in June 2015.
- 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.
- "Financial Statement - Indian Oil Corporation Limited". Bloomberg Businessweek. Retrieved 27 January 2014.
- "IOC mulls expanding capacity at Panipat refinery to 21 million tonne". The Economic Times. Retrieved 29 November 2013.
- "Delay in commissioning of Paradip refinery". 11-08-2012. Check date values in:
- "India's top 10 brands". Rediff.com. Retrieved 26 October 2010.
- "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.
- "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.