Indian Oil Corporation Limited

The Indian Ministry of Petroleum and Natural Gas owns the global oil and gas business known as Indian Oil Corporation Limited (IOCL). Its main office is in New Delhi. The Ministry of Petroleum and Natural Gas is in charge of overseeing the activities of this public sector initiative. As of 2022, Indian Oil is listed as the 142nd largest firm in the world on the Fortune Global 500 list. In terms of output and income, it is the largest government-owned oil producer in the nation.Its combined refining capacity is 80.55 MMTPA, and by 2024–2025, it plans to raise it to 107 MMTPA. Indian Oil has 31,648 employees as of the end of March 2021, of which 17,762 were executives and 13,876 were not. Women make up 8.77% of the workforce as a whole.

The commercial interests of Indian Oil span the whole hydrocarbon value chain and include refining, pipeline construction, marketing of petroleum products, as well as the exploration and production of petroleum, natural gas, and petrochemicals. Indian Oil has expanded its downstream activities globally and entered the renewable energy sector. It has subsidiaries in Mauritius (IndianOil (Mauritius) Ltd), the Middle East (IOC Middle East FZE), and Sri Lanka (Lanka IOC).

With a record profit of 21,346 crores in 2017–18, IOCL became India’s most profitable government company for the second consecutive year in May 2018. The firm and Rosneft, a Russian oil corporation, inked a contract in February 2020 for the purchase of 140,000 barrels per day of crude oil in 2020. IndianOil was completely prepared by 1 April 2020 to introduce BS-VI (Bharat Stage VI) fuels in all of its retail locations in Telangana and follow top-notch emission standards.

Up to January 26 of 2021, sales of 410,000 barrels of oil per day were at an all-time high. With agreements signed with Abu Dhabi National Oil Company and National Iranian Oil Company to deliver high output, Delek, QatarEnergy, and Saudi Aramco are its major commercial partners.

As a Brand with one of the largest customer interfaces in India, IndianOil reaches precious petroleum fuels to every nook and corner of the country through its network of over 60,000 plus customer touch-points, surmounting the challenges of tough terrain, climate and accessibility. The marketing network is bolstered by 70.05 MMTPA of Refining Capacity and more than 17,000 KM of cross-country pipelines. Moreover, IndianOil’s R&D Centre at Faridabad, one of Asia’s finest in downstream petroleum R&D, offers a competitive advantage to the Corporation through world-class technology and process solutions and innovative products. IndianOil R&D has also been instrumental in pioneering path-breaking research to leverage the potential of Hydrogen and other cleaner fuels for the sustainable progress of the nation.

One of India’s most socially responsive brands, IndianOil, has successfully combined its corporate social responsibility agenda with its business offerings. The Corporation has been partnering with communities in which it operates by supporting numerous initiatives connected with health, family welfare, education, environment protection, potable water, sanitation, empowerment of women and other marginalised groups.