Indian Oil Corporation Limited (IOCL)
India services 60 million visitors at its petrol pumps every day with a daily consumption of about 5 million barrels.
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 revenue of Rs. 728,460 crore (US$ 93.39 billion) in FY22, 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.
- 33,500-plus workforce
- Over 47,800 customer touch-points
- Operates a network of 13,400 km of cross-country pipelines
- Inventory of over 600 patents
- Total standalone revenue stood at Rs. 252,616.54 crore (US$ 31.64 billion) in the first quarter of FY23.
Indian Oil Corporation Limited (IOCL)–The Energy of India
| Year | Milestone |
|---|---|
| 2022 |
In November 2022, IOCL launched the ‘TB Mukt IndianOil Parivar’ program that aims to eradicate tuberculosis from the IndianOil family by 2025. In February 2022, Indian Oil Corporation (IOCL) announced the opening of 1,000-plus electric vehicle (EV) charging stations across the country, with the goal being to provide EV charging facilities at 10,000 fuel stations in the next three years. In February 2022, IOCL announced that it will set up 'green hydrogen' plants at its Mathura and Panipat refineries by 2024 to replace carbon-emitting units, which will help cut the cost of manufacturing green hydrogen by 40-50%. |
| 2021 |
In July 2021, Indian Oil Corporation Ltd. (IOC) announced its plan to establish a green hydrogen plant at its Mathura refinery. In July 2021, Indian Oil Corporation (IOCL) granted a contract worth US$ 170 million to a consortium, including subsidiaries of Maire Tecnimont, to assist the expansion of the Barauni refinery in Bihar. 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,
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 |
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