Growth

1958
Indian Refineries Ltd. was formed with Mr Feroze Gandhi as Chairman.

1959
Indian Oil Company Ltd. was established on 30th June 1959 with Mr S. Nijalingappa as the first Chairman.

1960
Agreement for supply of SKO and HSD was signed with the then USSR. M.V: “Uzhgorod” carrying the first parcel of 11,390 tonnes of HSD docked at Pir Pau Jetty in Mumbai on 17th August 1960.

1962
Guwahati Refinery was inaugurated by Pt. Jawaharlal Nehru.

Construction of Barauni Refinery commenced.

1963
Foundation was laid for Gujarat Refinery

Indian Oil Blending Ltd. (a 50:50 Joint Venture between IndianOil and Mobil) was formed.

1964
Indian Oil Corporation Ltd. was born on 1st September, 1964 with the merger of Indian Refineries Ltd. with Indian Oil Company Ltd.

Barauni Refinery was commissioned.

The first petroleum product pipeline from Guwahati to Siliguri (GSPL) was commissioned.

1965
Gujarat Refinery was inaugurated by Dr. S.Radhakrishnan, the then President of India.

Barauni-Kanpur Pipeline (BKPL) and Koyali- Ahmedabad product Pipeline (KAPL) commissioned.

IndianOilPeople maintained the vital supply of Petroleum products to Defence in 1965 War.

1966
The first long-term agreement was signed for harmonious employee relations.

1967
Haldia Baraurii Pipeline (HBPL) was commissioned.

Bitumen and Marine Bunker business began.

1968
Techno-economic studies for Haldia-Calcutta, Bombay-Pune and Bombay-Manmad Pipelines submitted to the Government.

1969
IndianOil undertook the marketing of Madras Refinery products.

1970
IndianOil acquired 60% majority shares of IBP.

The same was offloaded in favour of the President of India under a Directive in 1972.

1971
Dealership/reservation was extended to war widows, disabled Defence personnel, Freedom Fighters, etc. after 1971 War.

1972
R&D Centre was established at Faridabad.

SERVO, the first indigenous lubricant was launched.

1973
Foundation-stone of Mathura Refinery was laid by Mrs Indira Gandhi, the then Prime Minister of India.

1974
Indian Oil Blending Ltd. (IOBL) became the wholly owned subsidiary of IndianOil.

Marketing Division attained a new watershed with a market participation of 64.2%.

1975
Haldia Refinery was commissioned.

Multipurpose Distribution Centres were introduced at 132 Retail Outlets pioneering rural convenience.

1976
Private petroleum companies nationalised.

Burmah Shell became BPC.

1977
R&D Centre launched Nutan wick stove.

1978
Phase-wise commissioning of Salaya-Mathura Crude Oil Pipeline (SMPL) began.

1979
Barauni Refinery and Bongaigaon Refinery and Petrochemicals Ltd. (BRPL) affected by Assam agitation.

1980
The second Oil Shock was witnessed as a result of Iranian Revolution. Crude Oil price flared to a new high of $32 per barrel.

1981
Digboi Refmery and Assam Oil Company’s (AOC) marketing operations were vested in IndianOil. It became Assam Oil Division (AOD) of IndianOil.

1982
Mathura Refinery was commissioned.

Mathura-Jalandhar Pipeline (MJPL) was commissioned.

1983
Massive augmentation of LPG storage and distribution facilities were undertaken.

Proposal for the 6 MMTPA Refinery at Karnal was submitted at an estimated cost of Rs l,181 Crore.