Indian Oil Corporation Limited (IOCL; d/b/a IndianOil) is a central public sector undertaking under the

ownership Ownership is the state or fact of legal possession and control over property, which may be any asset, tangible or intangible. Ownership can involve multiple rights, collectively referred to as title, which may be separated and held by different ...

of the Ministry of Petroleum and Natural Gas,

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 Hous ...

. It is a public sector undertaking whose operations are overseen by the Ministry of Petroleum and Natural Gas. Indian Oil is ranked 142nd on the Fortune Global 500 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 f ...

, including refining, pipeline transportation, marketing of petroleum products,

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 of

crude oil Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crude ...

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 carbon d ...

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 renewabl ...

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

Sri Lanka Sri Lanka (, ; si, ශ්‍රී ලංකා, Śrī Laṅkā, translit-std=ISO (); ta, இலங்கை, Ilaṅkai, translit-std=ISO ()), formerly known as Ceylon and officially the Democratic Socialist Republic of Sri Lanka, is an ...

( Lanka IOC),

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 Arabian Peninsula, Arabia (including the Arabian Peninsula and Bahrain), Anatolia, Asia Minor (Asian part of Turkey except Hatay Pro ...

(IOC Middle East FZE).

History

In May 2018, IOCL became India's most profitable government corporation 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 35 ...

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' subsidi ...

, QatarEnergy,

Saudi Aramco Saudi Aramco ( ar, أرامكو السعودية '), officially the Saudi Arabian Oil Company (formerly Arabian-American Oil Company) or simply Aramco, is a Saudi Arabian public petroleum and natural gas company based in Dhahran. , it is one of ...

are its largest business partners with

Abu Dhabi National Oil Company The Abu Dhabi National Oil Company ( ar, شركة بترول أبوظبي الوطنية) or ADNOC is the State-owned oil company of the United Arab Emirates (UAE). It is the world's 12th largest oil company by production. As of 2021, the compan ...

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 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 for gas. On 19 November 2017, IOCL, in collaboration with

Ola Ola may refer to: Places Panama * Olá, a subdistrict in Coclé Province * Olá District Russia *Ola, Russia, an urban settlement in Magadan Oblast *Ola District, an administrative division in Magadan Oblast *Ola (river), a river in Magadan Ob ...

, 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 ...

and Surgutneftegas and

Chevron Corporation Chevron Corporation is an American multinational energy corporation. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California (shortened to Socal or CalSo), it is headquartered in S ...

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 Barauni Refinery is an oil refinery located in Begusarai city in the state of Bihar, operated by Indian Oil Corporation. It was the dream project of Shri krishna Sinha the first chief minister of Bihar. It was built in collaboration with the ...

* Bongaigaon Refinery * CPCL, Chennai * CPCL, Narimanam *

Digboi Refinery The Digboi Refinery was set up at Digboi in 1901 by Assam Oil Company Ltd. The Indian Oil Corporation Ltd (IOC) took over the refinery and marketing management of Assam Oil Company Ltd. with effect from 1981 and created a separate division. Th ...

* Guwahati Refinery *

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 we ...

* Koyali Refinery * Mathura Refinery *

Panipat Refinery Panipat Refinery is an oil refinery located in Baholi, Panipat, Haryana, India. It was set up in 1998. Panipat Refinery is the seventh refinery belonging to Indian Oil Corporation Limited. It is one of South East Asia's largest integrated pet ...

Paradip Refinery Paradip Refinery is an oil refinery set up by Indian Oil Corporation in Paradip city in the state of Odisha. The installed capacity of refinery is 15 million tonnes per year. This refinery is capable to produce high yield of LPG and propylene. ...

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 Sweden, formally the Kingdom of Sweden,The United Nations Group of Experts on Geographical Names states that the country's formal name is the Kingdom of SwedenUNGEGN World Geographical Names, Sweden./ref> is a Nordic countries, Nordic c ...

*IOCL (USA) Inc., USA *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 are listed on the Bombay Stock Exchange 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, Ma ...

. 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 Murm ...

), and 43% by other entities. The latter included corporate bodies (20%), ONGC (14%), LIC (6%), Foreign portfolio investors,(6%)

Oil India Limited Oil India Limited (OIL) is a central public sector undertaking under the ownership of Ministry of Petroleum and Natural Gas, Government of India. The Ministry of Petroleum and Natural Gas oversees its operations, with its headquarters in ...

(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 vehicle An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. It can be powered by a collector system, with electricity from extravehicular sources, or it can be powered autonomously by a battery (sometimes ch ...

s. 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 a ...

, Essar Oil and Shell.

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 An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) & lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated ...

(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