Indian Oil Corporation Limited (IndianOil) is the country’s largest commercial enterprise, with a sales turnover of Rs. 1,30,203 crore (US$ 29.8 billion) and profits of Rs. 7,005 crore (US$ 1,603 million) for fiscal 2003.
IndianOil is India’s No.1 Company in Fortune’s prestigious listing of the world’s 500 largest corporations, ranked 189 for the year 2004 based on fiscal 2003 performance. It is also the 19th largest petroleum company in the world. IndianOil has also been adjudged No.1 in petroleum trading among the national oil companies in the Asia-Pacific region.
India’s Flagship National Oil Company
Beginning in 1959 as Indian Oil Company Ltd., Indian Oil Corporation Ltd. was formed in 1964 with the merger of Indian Refineries Ltd. (Estd. 1958).
As India’s flagship national oil company, IndianOil accounts for 56% petroleum products market share among PSU companies, 42% national refining capacity and 69% downstream pipeline throughput capacity.
The IndianOil group of companies owns and operates 10 of India’s 18 refineries with a current combined rated capacity of 54.20 million metric tonnes per annum (MMTPA) or one million barrels per day (bpd). These include two refineries of subsidiary Chennai Petroleum Corporation Ltd and one of Bongaigaon Refinery and Petrochemicals Limited. IndianOil owns and operates the country’s largest network of cross-country crude oil and product pipelines of nearly 8,0000 km, with a combined capacity of 56.85 MMTPA.
IndianOil’s countrywide network of over 22,000 sales points is backed for supplies by its extensive, well spread out marketing infrastructure comprising 162 bulk storage terminals, installations and depots, 94 aviation fuelling stations and 87 LPG bottling plants. Its subsidiary, IBP Co. Ltd, is a stand-alone marketing company with a nationwide network of over 3,000 retail sales points.
For the year 2003-04, IndianOil sold 48.60 million tonnes of petroleum products, including exports of 1.81 million tonnes. Its seven own refineries achieved a throughput of 37.66 million tonnes, and the pipeline network transported 44.50 million tonnes of crude oil and petroleum products.
IndianOil reaches Indane cooking gas to the doorsteps of 40 million households in over 2,100 markets through the country’s largest network of 4,350 distributors. The country’s leading SERVO brand lubricants from IndianOil, with over 42% market share and 450 grades, are sold through more than 9,100 Company retail outlets, besides a countrywide network of bazaar traders.
IndianOil’s ISO-9002 certified Aviation Service, with 67% market share, meets the fuel and lubricants needs of domestic and international flag carriers, Defence Services and private aircraft operators
To maintain its strategic edge in the market place, IndianOil has planned investments to the tune of Rs. 24,400 crore during the X Plan period (2002-07), mainly in linear integration & diversification projects, besides refining and pipeline capacity expansions, product quality upgradation and retail operations
Customer delight is the key driver of IndianOil’s marketing operations. Under the XTRA retail outlet brand unveiled during 2003-04, IndianOil is making customers visiting its petrol and diesel stations a number of XTRA offerings, including assured quality and quantity, efficient forecourt service and high levels of housekeeping, choice of regular and branded fuels, 100% electronic dispensing, cashless transactions, loyalty programmes for cash & credit customers, and a number of non-fuel offerings tailor-made to customer profile and requirements
IndianOil is an “academy” company with a score of full-fledged training centres across the country building skills and competencies among IndianOilPeople to face the challenges of the market place. Among these, the IndianOil Institute of Petroleum Management (IIPM) at Gurgaon, the IndianOil Management Centre for Learning at Mumbai, and the IndianOil Management Academy at Haldia have emerged as world-class training and management academies.
IndianOil’s world-class R&D Centre has won recognition for its pioneering work in lubricants formulation, refinery processes, pipeline transportation and alternative fuels. It has developed over 2,100 formulations of SERVO brand lubricants and greases for virtually all conceivable applications – automotive, railroad, industrial and marine – meeting stringent international standards and bearing the stamp of approval of all major original equipment manufacturers. A wholly-owned subsidiary company, IndianOil Technologies Ltd., is commercialising the innovations and technologies of the Centre, which has over 140 national and international patents to its credit. Apart from leadership in development and commercialisation of bio-fuels, the R&D Centre is currently the nodal agency of the hydrocarbon sector in India for ushering in Hydrogen fuel in the country.
IndianOil is currently metamorphosing from a pure sectoral company with dominance in downstream in India to a vertically integrated, transnational energy behemoth. The Corporation is implementing a master plan to emerge as a major player in petrochemicals by integrating its core refining business with petrochemical activities, besides making large investments in E&P and import/marketing ventures for oil and gas in India and abroad.
IndianOil is also strengthening its existing overseas marketing ventures and simultaneously scouting new opportunities for marketing and export of petroleum products to new energy markets in Asia and Africa.
Two overseas subsidiaries are already operational in Sri Lanka and Mauritius, and a regional office at Dubai is coordinating expansion of business activities in Middle East region. Within an year of incorporation, Lanka IOC Pvt. Ltd. (LIOC) has captured a 25% market share in Sri Lanka, with a target to take it to about 40% in the near future. IndianOil is investing US$ 18 million in Mauritius through its subsidiary, Indian Oil Mauritius Ltd. (IOML), to set up a range of marketing infrastructure there.
The Corporation has launched 11 joint ventures in partnership with some of the most respected corporates from India and abroad — Lubrizol, Nyco SA, Petronas, Oiltanking GmbH, Marubeni, to name a few. SERVO lubricants are being marketed in Dubai, Nepal, Bhutan, Kuwait, Malaysia, Bahrain, Indonesia, Sri Lanka, Kyrgyzstan, Mauritius, Bangladesh, etc.
IndianOil has been lending its expertise for nearly two decades to various countries in several areas of refining, marketing, transportation, training and research & development. These include Sri Lanka, Kuwait, Bahrain, Iraq, Abu Dhabi, Tanzania, Ethiopia, Algeria, Nigeria, Nepal, Bhutan, Maldives, Malaysia and Zambia.
IndianOil’s sincere commitment to Quality, Safety, Health and Environment is reflected in the series of national and international certifications and awards earned over the years.
The 19th largest petroleum company in the world, IndianOil, is well on its way to becoming an integrated, transnational energy corporate.
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