Indian Oil Corporation

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Indian Oil Corporation Limited
Traded as BSE530965
Industry Oil and gas
Predecessor Indian Refineries Ltd. (1958)
Indian Oil Company (1959)
Founded 1964; 54 years ago (1964)
Headquarters New Delhi, India
Area served
India, Sri Lanka, Middle East, Mauritius
Key people
Sanjiv Singh (Chairman)[1]
Products Petroleum, natural gas, and other petrochemicals
Revenue 4.214 trillion (US$59 billion) (2018)[2]
274.4 billion (US$3.8 billion) (2017)[2]
198.5 billion (US$2.8 billion) (2017)[2]
Total assets 2.735 trillion (US$38 billion) (2017)[2]
Number of employees
34,999 (2017)[2]
Subsidiaries IndianOil (Mauritius) Ltd.
IOC Middle East FZE

Indian Oil Corporation Limited (IOCL) (NSEIOC, BSE530965), commonly known as IndianOil is an Indian state owned oil and gas company with registered office at Mumbai and primarily headquartered in New Delhi. It is the largest commercial enterprise in the country, with a net profit of INR 19,106 crore (USD 2,848 million) for the financial year 2016–17.[3] It is ranked 1st in Fortune India 500 list for year 2016[4] and 168th in Fortune's ‘Global 500’ list of world's largest companies in the year 2017.[5] As of 31 March 2017 IndianOil's employee strength is 33,135, out of which 16,545 are in the officer cadre.[6]

IndianOil's business interests overlap the entire hydrocarbon value-chain, including refining, pipeline transportation, marketing of petroleum products, exploration and production of crude oil, natural gas and petrochemicals.[7]

IndianOil has also ventured into alternative energy and globalization of downstream operations. It has subsidiaries in Sri Lanka (Lanka IOC)[8], Mauritius (IndianOil (Mauritius) Ltd)[9] and the Middle East (IOC Middle East FZE)[10]. IndianOil is scouting for new business opportunities in the energy markets across Asia and Africa. It has also formed about 20 joint ventures with reputed business partners from India and abroad to pursue diverse business interests. Indian Oil has its R&D Centre located in Faridabad, Delhi NCR.[11]

In May, 2018, IOC become India's most profitable state-owned company for the second consecutive year, with a record profit of ₹21,346 crore in 2017-18, followed by Oil and Natural Gas Corporation, whose profit stood at ₹19,945 crore.[12]


World's highest retail outlet, Kaza, Himachal Pradesh
IOCL Petrol Pump in Khammam
An Indian Oil fuel truck on way to Ladakh
A typical IOCL petrol pump in suburban India - Chembur, Mumbai
An IOCL refinery at night
An Indian Oil tanker in front of terminal 1C of Chhatrapati Shivaji International Airport

Business Divisions[edit]

There are 7 major Business Divisions in the organization:

  • Refineries Division[13]
  • Pipelines Division[14]
  • Marketing Division[15]
  • R&D Division[16]
  • Petrochemicals Division[17]
  • Exploration & Production (E&P) Division[18]
  • Explosives and Cryogenics Division[19]

Products and services[edit]

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 MMTPA (million metric tonnes per annum).[20] Indian Oil's cross-country pipeline network, for transportation of crude oil to refineries and finished products to high-demand centers, spans over 13,000 km The company has a throughput capacity of 80.49 MMTPA for crude oil and petroleum products and 9.5 MMSCMD for gas. On 19 November 2017, IOC, in collaboration with Ola, launched India’s first electric charging station at one of its petrol-diesel stations in Nagpur.[21] Indian governments’ National Electric Mobility Mission Plan launched in 2013 aims at gradually ensuring a vehicle population of 6 to 7 million electric and hybrid vehicles in India by 2020.[22]

Refinery locations[edit]


Foreign subsidiaries[edit]


A sculpture on the premises of IOCL Corporate Office, New Delhi, India

As of 31 March 2017, the company had 33,135 employees, out of which 2735 were women (8.25%). Its workforce includes 16,545 officers.[23] The attrition rate in Indian Oil is around 1.5%.[24] The company incurred INR 96.57 Billion on employee benefits during the FY 2016–17.[23]

Listing and shareholding[edit]

Indian Oil's equity shares are listed on the Bombay Stock Exchange and National Stock Exchange of India.[25]

As of 31 December 2017, the Promoters Government of India held approx. 56.98% of the shares in Indian Oil Corporation. Public held the rest 43.02% of the shares - this includes Mutual Fund Companies, Foreign Portfolio Investors, Financial Institutions/ Banks, Insurance Companies, Individual Shareholders and Trusts.[26]

Shareholders (as on 31-December-2017)[27] Shareholding
Promoter Group (Government of India) 56.98%
Public 43.02%
Total 100.0%


Indian Oil Corporation has two major domestic competitors - Bharat Petroleum and Hindustan Petroleum - and both are state-controlled, like Indian Oil Corporation. Major private competitors include - Reliance Industries and Essar Oil.

Oil Industry Development Board[edit]

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.[28] Petroleum stocks have been transferred from the Indian Oil Corporation to the Oil Industry Development Board (OIDB).[29] The OIDB then created the Indian Strategic Petroleum Reserves Ltd (ISPRL) to serve as the controlling government agency for the strategic reserve.[30]

See also[edit]


  1. ^ PTI (2017-06-01). "Sanjiv Singh takes over as IOC Chairman". The Hindu Business Line. Retrieved 2017-09-18. 
  2. ^ a b c d e "Financial Statement – Indian Oil Corporation Limited". Yahoo!. Retrieved 13 September 2017. 
  3. ^ "Fortune Global 500 List (India)". Golbal500. Retrieved 26 May 2017. 
  4. ^ "Indian Oil - Fortune 500 List 2016 - Fortune India". Retrieved 2017-09-17. 
  5. ^ "Indian Oil". Fortune. Retrieved 2017-09-17. 
  6. ^ "Indian Oil Corporation :: RTI Information Manual". Retrieved 2017-09-17. 
  7. ^ Editorial, Reuters. "${Instrument_CompanyName} ${Instrument_Ric} Company Profile |". U.S. Retrieved 2017-09-17. 
  8. ^ "IndianOil Corporation | Lanka IOC PLC". Retrieved 2017-09-17. 
  9. ^ "IndianOil Corporation | IndianOil (Mauritius) Ltd". Retrieved 2017-09-17. 
  10. ^ "IndianOil Corporation | Group Companies". Retrieved 2017-09-17. 
  11. ^ "R & D Centre : Indian Oil". 
  12. ^ "IOC most profitable PSU for 2nd yr in a row; displaces ONGC". India Today. May 31, 2018. 
  13. ^ "Refining : Oil and Gas Technology : IndianOil". Retrieved 2017-09-18. 
  14. ^ "Pipelines : Oil and Gas Pipeline : Gas and Oil Energy". Retrieved 2017-09-18. 
  15. ^ "Marketing : Oil and Gas Service Companies". Retrieved 2017-09-18. 
  16. ^ "R & D Centre : Indian Oil". Retrieved 2017-09-18. 
  17. ^ "Petrochemicals : World Class Petrochemicals". Retrieved 2017-09-18. 
  18. ^ "Exploration and Production: Oil and Gas Exploration and Production". Retrieved 2017-09-18. 
  19. ^ "Exploration and Production: Oil and Gas Exploration and Production". Retrieved 2017-09-18. 
  20. ^ Anonymous (2011-07-03). "Indian Oil Corporation". 13th Pipeline Technology Conference. Retrieved 2017-09-17. 
  21. ^ "Indian Oil sets up India's first electric vehicle charging station". The Hindu BusinessLine. 22 November 2017. 
  22. ^ "National Electric Mobility Mission Plan". Government of India Press Information Bureau. 10 March 2015. Retrieved 17 March 2018. 
  23. ^ a b "IOCL – Annual Report 2012-13" (PDF). BSE India. Retrieved 26 January 2014. 
  24. ^ "HighTea Chat Transcript with Mr. Biswajit Roy: GM (HRD), Indian Oil Corporation". Times Jobs. 22 January 2014. Retrieved 26 January 2014. 
  25. ^ "Listing Information – Indian Oil Corporation Limited". Economic Times. Retrieved 27 January 2014. 
  26. ^ "Indian Oil Corporation | Shareholding Pattern" (PDF). 31 December 2017. Retrieved 25 February 2018. 
  27. ^ "Indian Oil Corporation | Shareholding Pattern" (PDF). 31 December 2017. Retrieved 25 February 2018. 
  28. ^ "Alexander's Gas & Oil Connections – India to build up storage of crude oil". 21 September 2004. Retrieved 26 August 2010. 
  29. ^ "Strategic oil reserves to come directly under Govt". The Hindu Business Line. 2 April 2006. Retrieved 26 August 2010. 
  30. ^ "'India to form crude oil reserve of 5 mmt'- Oil & Gas-Energy-News By Industry-News-The Economic Times". 20 June 2007. Retrieved 26 August 2010. 
  31. ^ "Sonia to lay foundation for Rajiv Gandhi Petroleum Institute in Rae Bareli - TopNews". 

External links[edit]