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Indian Oil Corporation Limited

Type	PSU (Trading on BSE & NSE)
Founded	1964
Headquarters	New Delhi, India
Key people	Brij Mohan Bansal, Chairman
Industry	Petroleum
Products	Petrol, Diesel, Kerosene, LPG, Petrochemicals
Revenue	▲ रू. 2474.79 billion [1] (2008) (US$51.66 billion)
Net income	US$1.96 billion (2007) ▲ 12.9% from 2006
Total assets	US$33.64 billion (2008)
Total equity	US$10.87 billion (2007)
Employees	~36,217 (2006)
Website	Iocl.com

Indian Oil Corporation, or IndianOil, is an Indian public-sector petroleum company. It is India’s largest commercial enterprise, ranking 105th on the Fortune Global 500 list in 2009. IndianOil and its subsidiaries account for a 47% share in the petroleum products market, 40% share in refining capacity and 67% downstream sector pipelines capacity in India. The Indian Oil Group of Companies owns and operates 10 of India's 19 refineries with a combined refining capacity of 60.2 million metric tons per year.

IndianOil operates the largest and the widest network of fuel stations in the country, numbering about 17606 (15557 regular ROs & 2049 Kissan Sewa Kendra). It has also started Auto LPG Dispensing Stations (ALDS). It supplies Indane cooking gas to over 47.5 million households through a network of 4,990 Indian distributors. In addition, IndianOil's Research and Development Center (R&D) at Faridabad supports, develops and provides the necessary technology solutions to the operating divisions of the corporation and its customers within the country and abroad. Subsequently, IndianOil Technologies Limited - a wholly owned subsidiary, was set up in 2003, with a vision to market the technologies developed at IndianOil's Research and Development Center. It has been modeled on the R&D marketing arms of Royal Dutch Shell and British Petroleum.

History

IndianOil began operation in 1959 as Indian Oil Company Ltd. The Indian Oil Corporation was formed in 1964, with the merger of Indian Refineries Ltd.

Products

IndianOil's product range covers petrol, diesel, LPG, auto LPG, aviation turbine fuel, lubricants, naphtha, bitumen, paraffin, kerosene etc. Xtra Premium petrol, Xtra Mile diesel, Servo lubricants, Indane LPG, Autogas LPG, Indian Oil Aviation are some of its prominent brands.
Recently Indian Oil has also introduced a new business line of supplying LNG (liquefied natural gas) by cryogenic transportation. This is called "LNG at Doorstep". LNG headquarters are located at the Scope Complex, Lodhi Road, Delhi.

Refineries

• Digboi Refinery, in Upper Assam, is India's oldest refinery and was commissioned in 1901. Originally a part of Assam Oil Company, it became part of IndianOil in 1981. Its original refining capacity had been 0.5 MMTPA since 1901. Modernisation project of this refinery has been completed and the refinery now has an increased capacity of 0.65 MMTPA.
• Guwahati Refinery, the first public sector refinery of the country, was built with Romanian collaboration and was inaugurated by Late Pt. Jawaharlal Nehru, the first Prime Minister of India, on 1 January 1962.
• Barauni Refinery, in Bihar, was built in collaboration with Russia and Romania. It was commissioned in 1964 with a capacity of 1 MMTPA. Its capacity today is 6 MMTPA.
• Gujarat Refinery, at Koyali in Gujarat in Western India, is IndianOil’s largest refinery. The refinery was commissioned in 1965. It also houses the first hydrocracking unit of the country. Its present capacity is 13.70 MMTPA.
• Haldia Refinery is the only coastal refinery of the Corporation, situated 136 km downstream of Kolkata in the Purba Medinipur (East Midnapore) district. It was commissioned in 1975 with a capacity of 2.5 MMTPA, which has since been increased to 5.8 MMTPA
• Mathura Refinery was commissioned in 1982 as the sixth refinery in the fold of IndianOil and with an original capacity of 6.0 MMTPA. Located strategically between the historic cities of Delhi and Agra, the capacity of Mathura refinery was increased to 7.5 MMTPA.
• Panipat Refinery is the seventh refinery of IndianOil. The original refinery with 6 MMTPA capacity was built and commissioned in 1998. Panipat Refinery has doubled its refining capacity from 6 MMT/yr to 12 MMTPA with the commissioning of its Expansion Project.

Subsidiary refineries — Bongaigaon Refinery (2.95 MMTPA), Chennai Petroleum (9.5 MMTPA)

Group companies and joint ventures

• IndianOil Technologies Ltd : IndianOil Technologies Ltd. is the marketing arm of IOCL which markets the entire range of technologies developed at the IndianOil R&D Centre, Faridabad. IndianOil Technologies Ltd. headquarters is located at the IndianOil R&D Centre.
• IndianOil (Mauritius) Ltd.
• Lanka IOC PLC - Group company for retail and storage operations in Sri Lanka. It is listed in the Colombo Stock Exchange. It was locked into a bitter subsidy payment dispute with Sri Lanka's Government which has since been resolved.^{[citation needed]}
• IOC Middle East FZE
• Chennai Petroleum Corporation Limited
• Bongaigoan Refinery and Petrochemicals Ltd.
• Green Gas Ltd. - a joint venture with Gas Authority of India Ltd. for city-wide gas distribution networks.
• Indo Cat Pvt. Ltd., with Intercat, USA, for manufacturing 15,000 tonnes per annum of FCC (fluidised catalytic cracking) catalysts & additives in India.
• Numerous exploration and production ventures with Oil India Ltd., Oil and Natural Gas Corporation

International rankings

Indian Oil is the highest ranked Indian company in the Fortune Global 500 listing, the 116^th position(in 2008) based on fiscal 2007 performance. It is also the 18th largest petroleum company in the world and the number one petroleum trading company among the National Oil Companies in the Asia-Pacific region. IOCL was featured on the 2008 Forbes Global 2000 at position 303.

Loyalty programs

XTRAPOWER Fleet Card Program is aimed at Large Fleet Operators. Currently it has 1 million customer base. XTRAREWARDS is a recently launched loyalty program for retail customers where customers can earn reward points on their purchases.in the org

Competitors

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 Petroleum and Essar Oil.

Concerns

Indian Oil Corporation earned concerns about the state of affairs in its marketing business when Manjunath Shanmugam, a marketing manager and an MBA from the prestigious Indian Institute of Management Lucknow, was murdered in 2005 for sealing a corrupt petrol station in the state of Uttar Pradesh (U.P.).^[1]

The corporation's Mathura Refinery unit has also remained constantly in news due to the threat of air pollution created by it.

Oil Industry Development Board

India has begun the development of a strategic crude oil reserve sized at 37.4 million barrels, enough for two weeks of consumption.^[2] Petroleum stocks have been transferred from the Indian Oil Corporation(IndianOil) to the Oil Industry Development Board (OIDB).^[3] The OIDB then created the Indian Strategic Petroleum Reserves Ltd (ISPRL) to serve as the controlling government agency for the strategic reserve.^[4]

See also

• Global strategic petroleum reserves
• IndianOil Institute of Petroleum Management

External links

• - IndianOil Customer Portal /Eledger -Information System Dept -H.O-Mumbai
• - IndianOil Employees Portal /Eledger -Information System Dept -H.O-Mumbai
• - IndianOil Corporation Ltd.Marketing Division -Information System Dept -H.O-Mumbai
• www.IOCL.com
• Lanka IOC PLC
• IOCL on Fortune Global 500
• Interview of IOC Director
• IOCL on Forbes 2000 List
• XTRAPOWER Fleet Card
• IndianOil Technologies Ltd.
• The Employees portal

References