April 1, 2002 saw the conclusion of total deregulation of the Indian hydrocarbon industry over a four-year period.
As the tide of opportunities sweeps in, IndianOil is all set to realise its Vision of evolving into ‘a major, diversified, transnational, integrated energy company.’
IndianOil is metamorphosing from a pure sectoral company with dominance in downstream in India to a vertically integrated, transnational energy behemoth. The Corporation is making investments in E&P and import/marketing ventures for oil and gas in India and abroad, and is implementing a master plan to emerge as a major player in petrochemicals by integrating its core refining business with petrochemical activities.
IndianOil is strengthening its existing overseas marketing ventures and simultaneously scouting new opportunities for marketing and export of petroleum products in foreign markets. Two wholly-owned subsidiaries are already operational in Sri Lanka and Mauritius, and regional offices at Dubai and Kuala Lumpur are coordinating expansion of business activities in Middle East and South East Asia regions.
The Corporation has launched eleven joint ventures (listed separately) in partnership with some of the most respected corporates from India and abroad — Lubrizol, Nyco SA, Elf, Petronas, Oiltanking GmbH, Marubeni, Mitsubishi, to name a few. SERVO lubricants are being exported to 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 (current ones listed separately) earned over the years.
The 17th largest petroleum company in the world, IndianOil, is well on its way to becoming an integrated, transnational Energy Corporate.