Indian Oil Corporation Information
Indian Oil Corporation Limited, or IndianOil, (BSE: 530965, NSE: IOC) is an Indian state-owned oil and gas company headquartered at Mumbai, India. It is India’s largest commercial enterprise, ranking 125th on the Fortune Global 500 list in 2010. IndianOil and its subsidiaries account for a 47% share in the petroleum products market, 34.8% 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 65.7 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.
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History
IndianOil began operation in 1964 as Indian Oil Company Ltd. The Indian Oil Corporation was formed in 1964, with the merger of Indian Refineries Ltd. Feroze Gandhi was the first chairman of Indian Oil Corporation Limited.
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.
- Indian Oil - CREDA Biofuels Ltd. , a joint venture with Chattisgarh government for production and marketing of Bio-fuels.
- 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, 125th position in 2010. 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 2010 Forbes Global 2000 at position 313. It is fifth most valued brand in India according to an annual survey conducted by Brand Finance and The Economic Times in 2010. [2]
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 Industries and Essar Oil.Other competitors are coming faster.
Concerns
The volatility in the crude market & subsidy burden on the IOCL has dented the company performance like other PSU oil companies. This is also reflected in its FORTUNE rating this year. Moreover, bureaucratic hurdles in projects are hurting company advancement. IOCL has one of the best technical manpower for execution of jobs.
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.[3] Petroleum stocks have been transferred from the Indian Oil Corporation(IndianOil) to the Oil Industry Development Board (OIDB).[4] The OIDB then created the Indian Strategic Petroleum Reserves Ltd (ISPRL) to serve as the controlling government agency for the strategic reserve.[5]
References
- ^ a b c d e f "2010 Form 10-K, Indian Oil Corporation Limited". Hoovers. http://www.hoovers.com/company/Indian_Oil_Corporation_Limited/httkki-1-1njea5.html.
- ^ "India's top 10 brands". business.rediff.com. http://business.rediff.com/slide-show/2010/oct/26/slide-show-1-tata-motors-is-indias-top-brand.htm. Retrieved 26 Oct 2010.
- ^ "Alexander's Gas & Oil Connections - India to build up storage of crude oil". Gasandoil.com. 2004-09-21. http://www.gasandoil.com/goc/news/nts43834.htm. Retrieved 2010-08-26.
- ^ "Strategic oil reserves to come directly under Govt". The Hindu Business Line. 2006-04-02. http://www.thehindubusinessline.com/2006/04/02/stories/2006040202220200.htm. Retrieved 2010-08-26.
- ^ 20 Jun, 2007, 09.18PM IST,PTI (2007-06-20). "'India to form crude oil reserve of 5 mmt'- Oil & Gas-Energy-News By Industry-News-The Economic Times". Economictimes.indiatimes.com. http://economictimes.indiatimes.com/India_to_form_crude_oil_reserve_of_5_mmt/articleshow/2137148.cms. Retrieved 2010-08-26.
See also
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
Categories: Companies listed on the Bombay Stock Exchange | Companies listed on the National Stock Exchange of India | Companies based in Mumbai | Oil and gas companies of India | Government-owned companies in India | Indian Oil Corporation
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