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Indian Oil Corporation Limited (IOCL)

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Indian Oil Corporation Limited (IOCL)

  • 33,500 plus workforce
  • Over 47,800 customer touchpoints
  • Operates a network of 13,400 km of cross-country pipelines
  • Inventory of over 600 patents
  • Consolidated total income of Rs. 519,441.19 crore (US$ 70.02 billion) in FY21

With a 33,500 plus workforce and an extensive refining, distribution and marketing infrastructure and advanced R&D facilities, Indian Oil plays a significant role in fuelling the socio-economic development of the country. With a mandate to ensure India's energy security and self-sufficiency in refining & marketing of petroleum products, Indian Oil has, in the past six decades, provided energy access to millions of people across the length and breadth of the country through its ever-expanding network of over 47,800 customer touch-points. With a turnover of Rs. 6,05,924 crore (US$ 86.70 billion) and a market capitalisation of Rs. 1,71,511 crore (US$ 26.61 billion) in FY20, it is recognised as one of India's most valuable companies. The company continues to be the largest contributor to the national exchequer in the form of duties and taxes.

Company Website:

Indian Oil Corporation Limited (IOCL)–The Energy of India


In May 2021, Indian Oil Corporation kicked off the supply of diesel that is blended with biodiesel made from used cooking oil

In March 2021,

  • The IOCL and the Industrial Infrastructure Development Corporation (IDCO) signed an MoU for Paradip Plastic Park in Odisha. Until March 2030, an incentive of Rs. 2,000 for each MT of polypropylene granules (from the Paradip Refinery) will be offered to manufacturing units in the Paradip Plastic Park
  • The IOCL has entered a joint venture with Israeli firm Phinergy to manufacture Aluminium-Air systems in India and boost India's flagship programme–Make in India–and recycle used aluminium to strengthen India's energy security
  • BHEL received order worth Rs. 400 crore (US$ 55.1 million) for setting up a sulphur recovery unit at Indian Oil's Paradip Refinery in Odisha
  • Indian Oil Corp. will invest Rs. 329.46 billion (US$ 4.46 billion) to expand capacity of its Panipat refinery by two-thirds to 500,000 barrels per day (bpd) by September 2024


In February 2021, Sheetal Cool Products Limited signed an MoU with the IOCL to set up Sheetal Outlets at the IOCL Fuel Pumps in Gujarat

2020 In December 2020, IOCL announced plans to invest Rs. 1,689 crore (US$ 228.81 million) in new projects in Andhra Pradesh. The investment comprises Rs. 1,522 crore (US$ 206.19 million) for petroleum products infrastructure and Rs.167 crore (US$ 22.62 million) for LPG storage facilities.
On September 15, 2020, PM Mr. Narendra Modi inaugurated two new LPG cooking gas bottling plants at Champaran and Banka in Bihar, along with the Durgapur-Banka section of the Paradip-Haldia-Durgapur LPG pipeline for more than Rs. 900 crore (US$ 122 million)
Mathura refinery completed the revamp of its all units to produce BS-VI grade fuels ahead of the deadline for roll out of newer emission norms from April 2020
IOCL have plans to invest Rs. 500 crore (US$ 71.54 million) at Chitradurga in Karnataka
2019 ExxonMobil India LNG signed a MoU with IOCL
Planned to establish a 9 million metric tonnes per annum (MMTPA) greenfield refinery at Nagapattinam in Tamil Nadu
2018 The company approves buyback worth Rs 4,435 crore (US$ 634.57 million) Remains the country's most profitable state-run company for second year in a row
2016 Signs agreement to buy stake in Taas-Yuriakh oil field
2010 Awarded “Maharatna" status by the Govt. of India
2005 IOCL’s Mathura refinery becomes India’s first refinery to produce Euro-III Compliant diesel & petrol
2004 Company enters into the gas business
Enters petrochemical business by commissioning the world’s largest single train kerosene to LAB unit
2003 First Indian petroleum company to start overseas retail business
2000 Becomes the first Indian company to cross Rs 100 billion (US$ 2.22 billion) in turnover
Entry into E&P business,is awarded twoexploration blocks underNELP-I
1997 Company enters into LPG business through a JV with Petronet LNG
1994 Commissions India’s first Hydrocracker unit
1972 Becomes first Indian oil & gas company to establish Research & Development Center
1964 IOCL formed through merger of Indian Refineries Ltd and Indian Oil Company Ltd
First petroleum product pipeline commissioned: Guwahati-Siliguri pipeline


Oil And Gas
The Oil and Gas industry is expected to attract US$ 25 billion investment in exploration and production by 2022.