https://indianpedia.org/index.php?action=history&feed=atom&title=Indian_Oil_CorporationIndian Oil Corporation - Revision history2026-07-31T19:51:56ZRevision history for this page on the wikiMediaWiki 1.45.4https://indianpedia.org/index.php?title=Indian_Oil_Corporation&diff=464637&oldid=prevErlindaLamson9 at 14:48, 26 March 20262026-03-26T14:48:23Z<p></p>
<p><b>New page</b></p><div>{{Short description|Indian integrated energy company}}<br />
{{Use Indian English|date=September 2017}}<br />
{{Use dmy dates|date=September 2020}}<br />
{{Infobox company<br />
| name = Indian Oil<br />
| trade_name = Indian Oil<br />
| logo = Indian Oil Logo.svg<br />
| logo_size = 200px<br />
| type = [[Public Sector Undertakings in India|Public]]<br />
| traded_as = {{ubl|{{BSE|530965}}|{{NSE|IOC}}}}<br />
| ISIN = {{ISIN|sl=n|pl=y|INE242A01010}}<br />
| industry = [[Energy industry|Energy]]: [[Oil and gas industry|Oil and gas]]<br />
| foundation = {{Start date and age|30 June 1959}}<br />
| location = {{plain list|<br />
* [[New Delhi]], India (headquarters)<br />
* [[Mumbai]], [[Maharashtra]], India (registered office)}}<br />
| predecessor = {{plain list| <br />
* Indian Refineries Ltd. (1958)<br />
* Indian Oil Corporation (1959)<br />
}}<br />
| area_served = [[India]], [[Sri Lanka]], [[Middle East]], [[Mauritius]]<br />
| key_people = Arvindar Singh Sahney, [[Chairman]]<br />
| products = {{ubl|[[LNG]]|[[Lubricant]]s|[[Natural gas]]|[[Petrochemical]]s|[[Petroleum]]}}<br />
| revenue = {{Increase}} {{INRConvert|862876|c}} (2025)<ref name=10K>{{cite web|url=https://www.bseindia.com/xml-data/corpfiling/AttachLive/f6d6b963-4126-465f-8f77-d6edb564c395.pdf|title=Indian Oil Corporation Ltd. Financial Statements|website=bseindia.com|access-date=30 April 2024|archive-date=30 April 2024|archive-url=https://web.archive.org/web/20240430091833/https://www.bseindia.com/xml-data/corpfiling/AttachLive/06d9a824-5a4e-4742-aaa5-6541e289a8e9.pdf|url-status=dead}}</ref><br />
| operating_income = {{Decrease}} {{INRConvert|17063|c}} (2025)<ref name=10K/><br />
| net_income = {{Decrease}} {{INRConvert|13789|c}} (2025)<ref name=10K/><br />
| assets = {{Increase}} {{INRConvert|506867|c}} (2025)<ref name=10K/><br />
| equity = {{Increase}} {{INRConvert|191025|c}} (2025)<ref name=10K/><br />
| num_employees = 29,941 (2025) <ref name="employee count">https://iocl.com/download/SingleAnnualReport202425.pdf</ref><br />
| divisions = {{plain list| <br />
* IndianOil (Mauritius) Limited<br />
* [[Lanka IOC|Lanka IOC PLC]]<br />
* IOC Middle East FZE<br />
}}<br />
| subsid = * [[Indane (LPG)]]<br />
* [[Chennai Petroleum Corporation Limited]]<br />
*[[Petronet LNG]]<br />
| homepage = {{Official URL}}<br />
}}<br />
<br />
'''Indian Oil Corporation Limited''' ('''IOCL'''), ([[d/b/a]] '''Indian Oil''') is an Indian [[multinational company|multinational]]<ref>{{cite press release|quote=TEL AVIV, Israel, Feb. 14, 2024 /PRNewswire/ -- Phinergy (TASE: PNRG) - which develops metal-air technology that produces electricity by combining oxygen from the air with metals - is delighted to announce that multinational energy giant, Indian Oil Corporation, has completed its second round of investment in the company in the amount of $12.5 million.|url=https://www.prnewswire.com/in/news-releases/indian-oil-corporation-completes-second-round-of-investment-in-phinergy-bringing-its-holding-in-the-company-to-17-302061630.html|title=Indian Oil Corporation completes second round of investment in Phinergy, bringing its holding in the company to 17%|website=PR Newswire}}</ref><ref>{{cite web|quote=Indian Oil Corporation Ltd (IOCL), established in 1959 and headquartered in New Delhi, India, is a multinational that explores and produces petroleum products and is also a manufacturer of petrochemicals.|url=https://us.metoree.com/companies/191532/|title=Indian Oil Corporation Ltd - Company Profile and Products|website=Metoree}}</ref> [[Oil and gas industry in India|oil and gas]] company under the [[Public Sector Undertakings in India|ownership]] of the [[Government of India]] and administrative control of the [[Ministry of Petroleum and Natural Gas]]. It is a [[Public sector undertakings in India|public sector undertaking]] which is [[Registered office|registered]] in [[Mumbai]] and headquartered in [[New Delhi]].<ref name="arpt2018">{{cite book |title=Annual report 2017-2018 |publisher=Indian Oil Corporation |location=Mumbai |url=https://rbidocs.rbi.org.in/rdocs/notification/PDFs/71APDIR030215.pdf |access-date=11 October 2018 |archive-url=https://web.archive.org/web/20161018140037/https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/71APDIR030215.pdf |archive-date=18 October 2016 |url-status=live }}</ref> It is the largest [[Public sector undertakings in India|government-owned oil producer]]<ref>{{Cite book |author1=Lee, Mordecai |author2=Neeley, Grant |author3=Stewart, Kendra B. |url=http://worldcat.org/oclc/1263816753 |title=The practice of government public relations |date=20 July 2021 |publisher=Routledge |isbn=978-1-000-39496-2 |oclc=1263816753 |access-date=8 May 2022 |archive-date=8 May 2022 |archive-url=https://web.archive.org/web/20220508103925/https://www.worldcat.org/oclc/1263816753 |url-status=live }}</ref> in the country both in terms of capacity and revenue. It has consolidated refining capacity of 80.55MMTPA.<ref>{{Cite web|url=https://iocl.com/MediaDetails/48582#:~:text=IndianOil%20in%20Media&text=India%20plans%20to%20raise%20its,government%20report%20said%20on%20Thursday.|title=India plans 77% rise in refining capacity by 2030}}</ref><br />
<br />
Indian Oil's business interests overlap the entire [[hydrocarbon]] [[value chain]], including [[refining]], [[pipeline]], marketing of [[petroleum product]]s, [[Hydrocarbon exploration|exploration]] and [[Extraction of petroleum|production]] of [[Petroleum]], [[Natural gas vehicle|natural gas]] and [[petrochemical]]s.<ref>{{Cite web |last= |first= |title=IOC stock page. |url=https://www.reuters.com/finance/stocks/companyProfile/IOC.NS |access-date=17 September 2017 |website=Reuters |language=en-US}}</ref> Indian Oil has ventured into [[renewable energy]] and globalisation of downstream operations. It has subsidiaries in [[Sri Lanka]] ([[Lanka IOC]]),<ref>{{Cite web|url=https://www.iocl.com/AboutUs/GroupCompanies(LIOC).aspx|title=IndianOil Corporation {{!}} Lanka IOC PLC|website=www.iocl.com|access-date=17 September 2017|archive-url=https://web.archive.org/web/20170916142148/https://www.iocl.com/AboutUs/GroupCompanies(LIOC).aspx|archive-date=16 September 2017|url-status=live}}</ref> [[Mauritius]] (IndianOil (Mauritius) Ltd),<ref>{{Cite web|url=https://www.iocl.com/AboutUs/GroupCompanies(Mauritius).aspx|title=IndianOil Corporation {{!}} IndianOil (Mauritius) Ltd.|website=www.iocl.com|access-date=17 September 2017|archive-url=https://web.archive.org/web/20170916141726/https://www.iocl.com/AboutUs/GroupCompanies(Mauritius).aspx|archive-date=16 September 2017|url-status=live}}</ref> and the [[Middle East]] (IOC Middle East FZE).<ref>{{Cite web|url=https://www.iocl.com/AboutUs/GroupCompanies(MiddleEast).aspx|title=IndianOil Corporation {{!}} Group Companies|website=www.iocl.com|access-date=17 September 2017|archive-url=https://web.archive.org/web/20170916142400/https://www.iocl.com/AboutUs/GroupCompanies(MiddleEast).aspx|archive-date=16 September 2017|url-status=live}}</ref><br />
<br />
Indian Oil is ranked 94th on the [[Fortune Global 500]] list of the world's biggest corporations as of 2022.<ref name="fortune">{{cite news | url=https://fortune.com/company/indian-oil/global500/ | title=Fortune Global 500 list | access-date=10 August 2021 | archive-url=https://web.archive.org/web/20190807080136/https://fortune.com/global500/2019/ | archive-date=7 August 2019 | url-status=live }}</ref> As of 31 March 2021, Indian Oil has 31,648 employees, out of which 17,762 are executives and 13,876 non-executives, while 2,776 are women.<ref name=":0">{{Cite web|last=Annual Report 2020-21|title=Financial Performance : Oil and Energy News|url=https://iocl.com/pages/financial-performance-overview|access-date=2021-09-03|website=iocl.com|archive-date=3 September 2021|archive-url=https://web.archive.org/web/20210903125250/https://iocl.com/pages/financial-performance-overview|url-status=live}}</ref><ref>{{Cite web|title=Indian Oil Corporation Ltd Management Discussions|url=https://www.indiainfoline.com/company/indian-oil-corporation-ltd/management-discussions/12002|access-date=27 May 2021|website=IIFL Securities|archive-date=13 June 2021|archive-url=https://web.archive.org/web/20210613062703/https://www.indiainfoline.com/company/indian-oil-corporation-ltd/management-discussions/12002|url-status=live}}</ref><ref>{{cite web|title=Annual Report 2019-20|url=https://www.iocl.com/download/IndianOil-Annual-Report-2019-20.pdf|access-date=27 May 2021|website=IOC - official website|publisher=Indian oil corporation|archive-date=13 June 2021|archive-url=https://web.archive.org/web/20210613062710/https://iocl.com/download/IndianOil-Annual-Report-2019-20.pdf|url-status=live}}</ref><br />
<br />
== History ==<br />
In May 2018, IOCL became India's most profitable [[Government of India Act 1935|government corporation]] for the second consecutive year, with a record profit of ₹21,346 crores in 2017–18.<ref>{{cite news |title=IOC most profitable PSU for 2nd yr in a row; displaces ONGC |url=https://www.indiatoday.in/pti-feed/story/ioc-most-profitable-psu-for-2nd-yr-in-a-row-displaces-ongc-1246700-2018-05-31 |publisher=[[India Today]] |date=31 May 2018 |access-date=31 May 2018 |archive-url=https://web.archive.org/web/20180606074512/https://www.indiatoday.in/pti-feed/story/ioc-most-profitable-psu-for-2nd-yr-in-a-row-displaces-ongc-1246700-2018-05-31 |archive-date=6 June 2018 |url-status=live }}</ref> In February 2020, the company signed a deal with the Russian oil company [[Rosneft]] to buy 140,000 barrels per day of crude in year 2020.<ref>{{Cite news|url=https://www.reuters.com/article/us-india-oil-russia-idUSKBN1ZZ1CD|title=India's IOC signs annual deal on option to buy crude from Russia's Rosneft|date=5 February 2020|work=Reuters|access-date=5 February 2020|language=en|archive-date=5 February 2020|archive-url=https://web.archive.org/web/20200205132008/https://www.reuters.com/article/us-india-oil-russia-idUSKBN1ZZ1CD|url-status=live}}</ref> By 1 April 2020, IndianOil was in absolute readiness to launch [[Bharat stage emission standards|BS-VI (Bharat Stage VI)]] fuels in all its retail outlets in [[Telangana]] and adopt world-class emission norms.<ref>{{Cite web|url=https://www.livemint.com/auto-news/indian-oil-to-supply-bs-vi-fuels-in-telangana-from-april-1-11583985429610.html|title=Indian Oil to supply BS-VI fuels in Telangana from April 1|date=12 March 2020|website=mint|access-date=12 March 2020|archive-date=13 June 2021|archive-url=https://web.archive.org/web/20210613062701/https://www.livemint.com/auto-news/indian-oil-to-supply-bs-vi-fuels-in-telangana-from-april-1-11583985429610.html|url-status=live}}</ref><br />
<br />
In January 2021, sales were registered at an all-time high of 410,000 barrels of oil per day till 26 January 2021. [[Delek]], [[QatarEnergy]], and [[Saudi Aramco]] are its largest business partners, with [[Abu Dhabi National Oil Company]] and [[National Iranian Oil Company]] signing deals to deliver high production output by the end of 2020.<br />
<br />
In March 2022, [[Apollo Hospitals]] replaced Indian Oil Corporation in [[NIFTY 50|Nifty 50]] benchmark index.<ref>{{cite web | url=https://www.moneycontrol.com/news/business/markets/nse-revises-its-eligibility-criteria-and-replaces-stocks-in-its-key-indices-8160991.html | title=Apollo Hospitals replaces IOC in Nifty50 as NSE revises eligibility norms, swaps stocks in key indices | date=24 February 2022 | access-date=27 June 2022 | archive-date=27 June 2022 | archive-url=https://web.archive.org/web/20220627074348/https://www.moneycontrol.com/news/business/markets/nse-revises-its-eligibility-criteria-and-replaces-stocks-in-its-key-indices-8160991.html | url-status=live }}</ref><br />
<br />
== Controversy ==<br />
<br />
== Operations ==<br />
[[File:Indian Oil Corporation sign.jpg|thumb|right|The world's highest retail outlet (at an altitude of 3,740 mtr. above mean sea level) under IOCL, in [[Kaza, Himachal Pradesh|Kaza]], [[Himachal Pradesh]]]]<br />
[[File:Indian Oil Petrol Bunk 06122016.jpg|thumb|right|IOCL Petrol Pump under construction in [[Khammam]]]]<br />
[[File:IndianOil_Fueling_Station_Kapsi.jpg|thumb|An Indian Oil Fueling Station in [[Kapsi]], [[Chhattisgarh]]]]<br />
[[File:Indian Oil Petrol Station.JPG|thumb|right|An Indian Oil Petrol pump near [[Dera Bassi]] in [[Punjab, India]]]]<br />
[[File:Indian Oil fuel truck on way to Ladakh.jpg|thumb|right|An Indian Oil fuel truck on the way to [[Ladakh]]]]<br />
[[File:Indian oil chembur1.JPG|thumb|right|A typical IOCL petrol pump in cities of India - [[Chembur]], [[Mumbai]]]]<br />
[[File:Ioc basaveshwaranagar.png|thumb|Indian Oil Petrol Bunk in [[Basaveshwaranagar]], [[Bangalore]] at night]]<br />
[[File:Ashok Leyland Aviation Fuel Tanker at New Delhi Airport.jpg|thumb|IndianOil aviation fuel tanker in front of Terminal 1D at [[Indira Gandhi International Airport]]]]<br />
[[File:Haldia Refinery.jpg|thumb|An [[Haldia Refinery|oil refinery]] under IOCL in [[Haldia]], [[West Bengal]]]]<br />
<br />
=== Business divisions ===<br />
There are seven major business divisions in the organisation:<br />
# Refineries Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/Refineries.aspx|title=Refining : Oil and Gas Technology : IndianOil|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170916142315/https://www.iocl.com/AboutUs/Refineries.aspx|archive-date=16 September 2017|url-status=live}}</ref><br />
# Pipelines Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/Pipelines.aspx|title=Pipelines : Oil and Gas Pipeline : Gas and Oil Energy|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170916141944/https://www.iocl.com/AboutUs/Pipelines.aspx|archive-date=16 September 2017|url-status=live}}</ref><br />
# Marketing Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/Marketing.aspx|title=Marketing : Oil and Gas Service Companies|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170916141731/https://www.iocl.com/AboutUs/Marketing.aspx|archive-date=16 September 2017|url-status=live}}</ref><br />
# R&D Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/Research_Development.aspx|title=R & D Centre : Indian Oil|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170701231933/https://www.iocl.com/aboutus/Research_Development.aspx|archive-date=1 July 2017|url-status=live}}</ref><br />
# Petrochemicals Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/Petrochemicals.aspx|title=Petrochemicals : World Class Petrochemicals|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170916141311/https://www.iocl.com/AboutUs/Petrochemicals.aspx|archive-date=16 September 2017|url-status=live}}</ref><br />
# Exploration & Production (E&P) Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/e_and_p.aspx|title=Exploration and Production: Oil and Gas Exploration and Production|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170916141352/https://www.iocl.com/AboutUs/e_and_p.aspx|archive-date=16 September 2017|url-status=live}}</ref><br />
# Explosives and Cryogenics Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/Explosives_and_Cryogenics.aspx|title=Exploration and Production: Oil and Gas Exploration and Production|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170916142129/https://www.iocl.com/AboutUs/Explosives_and_Cryogenics.aspx|archive-date=16 September 2017|url-status=live}}</ref><br />
<br />
=== Products and services ===<br />
<br />
Indian Oil accounts for nearly half of India's petroleum products market share, 35% national refining capacity (together with its subsidiary [[Chennai Petroleum Corporation Limited|Chennai Petroleum Corporation Ltd.]] or CPCL), and 71% downstream sector pipelines through capacity. The Indian Oil Group owns and operates 11 of India's 23 <ref>{{cite news |title=India Oil Corporation nears first deal to export fuel to Bangladesh: Sources |url=https://www.thehindubusinessline.com/companies/india-oil-corporation-nears-first-deal-to-export-fuel-to-bangladesh-sources/article31614027.ece |work=@businessline |language=en |access-date=22 May 2020 |archive-date=23 May 2020 |archive-url=https://web.archive.org/web/20200523131510/https://www.thehindubusinessline.com/companies/india-oil-corporation-nears-first-deal-to-export-fuel-to-bangladesh-sources/article31614027.ece |url-status=live }}</ref> refineries with a combined refining capacity of 80.7 million [[tonne]]s per year.<ref>{{Cite news|url=https://www.pipeline-conference.com/companies/indian-oil-corporation|title=Indian Oil Corporation|date=3 July 2011|work=13th Pipeline Technology Conference|access-date=17 September 2017|language=en|archive-url=https://web.archive.org/web/20170918154418/https://www.pipeline-conference.com/companies/indian-oil-corporation|archive-date=18 September 2017|url-status=live}}</ref> Indian Oil's cross-country pipeline network, for the transport of crude oil to refineries and finished products to high-demand centres, spans over 13,000&nbsp;km. The company has a throughput capacity of 80.49 million tonnes per year for crude oil and petroleum products and 9.5 million cubic metres per day at [[Standard temperature and pressure|standard conditions]] for gas. On 19 November 2017, IOCL, in collaboration with [[Ola Cabs|Ola]], launched India's first electric charging station at one of its petrol-diesel stations in Nagpur.<ref>{{Cite news|url=http://www.thehindubusinessline.com/companies/indian-oil-sets-up-indias-first-electric-vehicle-charging-station/article9969318.ece|title=Indian Oil sets up India's first electric vehicle charging station|date=22 November 2017|work=The Hindu BusinessLine|access-date=23 January 2018|archive-url=https://web.archive.org/web/20171122070718/http://www.thehindubusinessline.com/companies/indian-oil-sets-up-indias-first-electric-vehicle-charging-station/article9969318.ece|archive-date=22 November 2017|url-status=live}}</ref> Indian governments' National Electric Mobility Mission Plan launched in 2013 aims at gradually ensuring a vehicle population of 6 to 8 million electric and hybrid vehicles in India by 2020.<ref>{{cite web|title=National Electric Mobility Mission Plan|url=http://pib.nic.in/newsite/PrintRelease.aspx?relid=116719|website=Government of India Press Information Bureau|access-date=17 March 2018|date=10 March 2015|archive-url=https://web.archive.org/web/20180317232413/http://pib.nic.in/newsite/PrintRelease.aspx?relid=116719|archive-date=17 March 2018|url-status=live}}</ref><br />
<br />
Servo is the lubricants brand under which IOCL operates its lubricant business. Servo is the largest selling lubricant brand in both automotive and industrial segments.<br />
<br />
It is said that deals with [[Royal Dutch Shell]] and [[Surgutneftegas]] and [[Chevron Corporation]] have been signed for exclusive business plans for supply in Asia with the [[Indian Oil Company]], which are worth 20 billion dollars per year.<br />
<br />
===Oil refinery locations===<br />
<br />
*[[Barauni Refinery]]<br />
*[[Bongaigaon Refinery]]<br />
*[[Manali Refinery|CPCL, Chennai]]<br />
*[[Nagapattnam Refinery|CPCL, Narimanam]]<br />
*[[Digboi Refinery]]<br />
*[[Guwahati Refinery]]<br />
*[[Haldia Refinery]]<br />
*[[Gujarat Refinery|Koyali Refinery]]<br />
*[[Mathura Refinery]]<br />
*[[Panipat Refinery]]<br />
*[[Paradip Refinery]]<br />
*[[Gujarat Refinery]]<br />
<br />
=== Pipelines ===<br />
*Salaya - Mathura crude oil pipeline<br />
*Mundra - Panipat crude oil pipeline<br />
*Paradip-Haldia-Barauni crude oil pipeline<br />
*[[Kandla–Bhatinda Oil Pipeline]]<br />
*Koyali - Mohanpura product pipeline<br />
*Koyali - Ahmedabad product pipeline<br />
*Guwahati - Siliguri product pipeline<br />
*Barauni - Kanpur product pipeline<br />
*Patna-Motihari-Baitalpur Product pipeline<br />
*Haldia - Mourigram - Rajbandh product pipeline<br />
*Haldia - Barauni product pipeline<br />
*Panipat - Jalandhar LPG pipeline<br />
*Dadri - Panipat R-LNG pipeline<br />
*Koyali - Ratlam product pipeline<br />
*Koyali - Dahej/ Hazira product pipeline<br />
*Panipat - Bhatinda product pipeline<br />
*Panipat - Rewari product pipeline<br />
*Panipat - Ambala - Jalandhar product pipeline<br />
*Mathura - Delhi product pipeline<br />
*Mathura - Bharatpur product pipeline<br />
*Mathura - Tundla product pipeline<br />
*Chennai - Trichy - Madurai product pipeline<br />
*Chennai - Bangalore product pipeline<br />
*Chennai ATF pipeline<br />
*Bangalore ATF pipeline<br />
*Kolkata ATF pipeline<br />
*Paradip - Raipur - Ranchi product pipeline<br />
*Jaipur Panipat Naphtha Pipeline<br />
*Paradip - Hyderabad product pipeline<br />
*Paradip-Haldia-Barauni-Motihari LPG Pipeline<br />
*Paradip-Somnathpur-Haldia Product Pipeline<br />
<br />
== Foreign subsidiaries==<br />
Subsidiaries include:<ref>{{Cite web|title=IndianOil Group Companies : Oil and Gas Industry|url=https://iocl.com/AboutUs/GroupCompanies_JVs.aspx|access-date=2021-05-27|website=iocl.com|archive-date=14 May 2021|archive-url=https://web.archive.org/web/20210514095724/https://iocl.com/AboutUs/GroupCompanies_JVs.aspx|url-status=dead}}</ref> <br />
* IndianOil (Mauritius) Limited<br />
* IOC Middle East FZE, UAE<br />
*[[Lanka IOC|Lanka IOC PLC]], Sri Lanka <br />
*IOC Sweden AB, [[Sweden]]<br />
*IOCL (USA) Inc., [[United States|USA]]<br />
*IndOil Global B.V. [[Netherlands]]<br />
*IOCL Singapore Pte. Ltd.<br />
<br />
== Employees ==<br />
<br />
[[File:The Sky is the Limit - IOC heigth 6.3m 2010 photo by BalanNambiar.JPG|thumb|right|A sculpture on the premises of IOCL Corporate Office, New Delhi, India]]<br />
<br />
As On 31 March 2024, IOC's Regular Employee<ref>{{Cite web |last=Pant |first=Seema |date=2025-04-28 |title=Indian Oil Corporation Apprentice Recruitment 2025 |url=https://vacancysutra.com/indian-oil-apprentice-vacancy-2025/ |access-date=2025-04-28 |language=en-US}}</ref> Strength Stands At 30,321. Executives Account For 18,570, non-Executives Account For 11,751.<ref name=":0" /><ref name="AR201213">{{cite web|title=IOCL Management Discussions|url=http://www.bseindia.com/bseplus/AnnualReport/530965/5309650313.pdf|access-date=|publisher=BSE India|archive-date=23 September 2015|archive-url=https://web.archive.org/web/20150923195026/http://www.bseindia.com/bseplus/AnnualReport/530965/5309650313.pdf|url-status=live}}</ref> The attrition rate in Indian Oil is around 1.5%.<ref>{{cite web |url=http://hightea.timesjobs.com/candidate/chatTranscript.html?chatId=178 |title=HighTea Chat Transcript with Mr. Biswajit Roy: GM (HRD), Indian Oil Corporation |publisher=Times Jobs |date=22 January 2014 |access-date=26 January 2014}}</ref> The company spent ₹96.57 billion on employee benefits during the FY 2016–17.<ref name="AR201213" /><br />
<br />
== Listing and shareholding ==<br />
<br />
Indian Oil's [[Common stock|equity shares]] are listed on the [[Bombay Stock Exchange]] and [[National Stock Exchange of India]].<ref>{{cite web |url=http://economictimes.indiatimes.com/indian-oil-corporation-ltd/infocompanylisting/companyid-11924.cms |title=Listing Information – Indian Oil Corporation Limited |publisher=Economic Times |access-date=27 January 2014 |archive-url=https://web.archive.org/web/20140227185053/http://economictimes.indiatimes.com/indian-oil-corporation-ltd/infocompanylisting/companyid-11924.cms |archive-date=27 February 2014 |url-status=live }}</ref><br />
<br />
As of September 2018, it was owned 51% by the Government of India (through the [[President of India]]), and 43% by other entities. The latter included corporate bodies (20%), [[ONGC]] (14%), [[Life Insurance Corporation|LIC]] (6%), Foreign portfolio investors (6%),<ref name="arpt2018" /> [[Oil India Limited]] (5%) and [[ICICI Prudential Mutual Fund|Indian Mutual funds]] (4%).<ref>{{cite web |title=Share holding pattern 30 September 2018 |url=https://iocl.com/download/LODR-SHP(2018-09-30).pdf |website=IOC Official website |publisher=IOC |access-date=11 October 2018 |archive-url=https://web.archive.org/web/20181011133503/https://iocl.com/download/LODR-SHP(2018-09-30).pdf |archive-date=11 October 2018 |url-status=live }}</ref><br />
<br />
This was similar to its shareholding in 2017. As of 31 December 2017, the [[Corporate promoter|Promoters]] [[Government of India]] held approx. 56.98% of the shares in Indian Oil Corporation. The public held the rest of the shares – 43.02%. This includes Mutual Fund Companies, Foreign Portfolio Investors, Financial Institutions/ Banks, Insurance Companies, Individual Shareholders and Trusts.<ref>{{Cite web|url=https://www.iocl.com/download/LODRSHP-(2017-12-31).pdf|title=Indian Oil Corporation {{!}} Shareholding Pattern|date=31 December 2017|website=www.iocl.com|access-date=25 February 2018|archive-url=https://web.archive.org/web/20180225205537/https://www.iocl.com/download/LODRSHP-(2017-12-31).pdf|archive-date=25 February 2018|url-status=live}}</ref> IOCL's Market cap as of December 2022 was Rs. 1,10,075.05 crore.<ref>{{Cite web |title=Top 100 stocks by Market Capitalization {{!}} BSE Listed stocks Market Capitalization |url=https://www.bseindia.com/markets/equity/eqreports/topmarketcapitalization.aspx |access-date=2022-12-19 |website=www.bseindia.com |archive-date=25 July 2019 |archive-url=https://web.archive.org/web/20190725202033/https://www.bseindia.com/markets/equity/EQReports/TopMarketCapitalization.aspx |url-status=live }}</ref><br />
<br />
{| class="wikitable"<br />
|-<br />
! Shareholders (as on 31 March 2020)<ref>{{Cite web|date=31 March 2021|title=Indian Oil Corporation {{!}} Shareholding Pattern|url=https://economictimes.indiatimes.com/indian-oil-corporation-ltd/shareholding/companyid-11924.cms|access-date=|website=|archive-date=13 June 2021|archive-url=https://web.archive.org/web/20210613062701/https://economictimes.indiatimes.com/indian-oil-corporation-ltd/shareholding/companyid-11924.cms|url-status=live}}</ref>!! Shareholding<br />
|-<br />
| Promoter Group ([[Government of India|President of India]])||51.50%<br />
|-<br />
| Central Government ||0.11%<br />
|-<br />
|Foreign Institutional Investors <br />
|5.81%<br />
|-<br />
|Mutual Funds<br />
|4.66%<br />
|-<br />
|General Public <br />
|6.01%<br />
|-<br />
|Financial Institutions <br />
|8.32%<br />
|-<br />
|Others <br />
|23.59%<br />
|-<br />
| Total||100.0%<br />
|}<br />
<br />
== Strategic partnerships ==<br />
=== IOC Phinergy Pvt Ltd ===<br />
Indian Oil Corporation (IOC) buys a stake in [[Phinergy]] ([[Israel]]) for manufacturing, development, and sale of [[Aluminium-air batteries|aluminum-air batteries]] (Al-Air batteries) for [[electric vehicle]]s. This joint venture is ready to facilitate the development of Al-Air technology by intending to set up a factory in India.<ref>{{Cite web|url=https://energy.economictimes.indiatimes.com/news/oil-and-gas/indianoil-buys-stake-in-phinergy-of-israel-for-manufacturing-of-aluminium-air-batteries/73935714|title=IndianOil buys stake in Phinergy of Israel for manufacturing of aluminium-air batteries - ET EnergyWorld|website=ETEnergyworld.com|access-date=13 March 2020|archive-date=6 March 2020|archive-url=https://web.archive.org/web/20200306133310/https://energy.economictimes.indiatimes.com/news/oil-and-gas/indianoil-buys-stake-in-phinergy-of-israel-for-manufacturing-of-aluminium-air-batteries/73935714|url-status=live}}</ref><br />
<br />
== Competition ==<br />
Indian Oil Corporation has two major domestic competitors – [[Bharat Petroleum]] and [[Hindustan Petroleum]] – and both are state-controlled, like Indian Oil Corporation. Major private competitors include – [[Reliance Petroleum]], [[Essar Oil, Now renamed as Nayara|Nayara Energy]] and [[Royal Dutch Shell|Shell]].<br />
<br />
== Oil Industry Development Board ==<br />
India has begun the development of a strategic crude oil reserve sized at {{convert|37.4|Moilbbl|m3}}, enough for three weeks of consumption.<ref>{{cite web |url=http://www.gasandoil.com/goc/news/nts43834.htm |title=Alexander's Gas & Oil Connections – India to build up storage of crude oil |publisher=Gasandoil.com |date=21 September 2004 |access-date=26 August 2010 |archive-url=https://web.archive.org/web/20090418001150/http://www.gasandoil.com/goc/news/nts43834.htm |archive-date=18 April 2009 |url-status=dead }}</ref> Petroleum stocks have been transferred from the Indian Oil Corporation to the Oil Industry Development Board (OIDB).<ref>{{cite web |url=http://www.thehindubusinessline.com/2006/04/02/stories/2006040202220200.htm |title=Strategic oil reserves to come directly under Govt |publisher=The Hindu Business Line |date=2 April 2006 |access-date=26 August 2010 |archive-url=https://web.archive.org/web/20090212181220/http://www.thehindubusinessline.com/2006/04/02/stories/2006040202220200.htm |archive-date=12 February 2009 |url-status=live }}</ref> The OIDB then created the [[Strategic Petroleum Reserve (India)|Indian Strategic Petroleum Reserves Ltd (ISPRL)]] to serve as the controlling government agency for the strategic reserve.<ref>{{cite web |url=http://economictimes.indiatimes.com/India_to_form_crude_oil_reserve_of_5_mmt/articleshow/2137148.cms |title='India to form crude oil reserve of 5 mmt'- Oil & Gas-Energy-News By Industry-News-The Economic Times |publisher=Economictimes.indiatimes.com |date=20 June 2007 |access-date=26 August 2010 |archive-url=https://web.archive.org/web/20090111113327/http://economictimes.indiatimes.com/India_to_form_crude_oil_reserve_of_5_mmt/articleshow/2137148.cms |archive-date=11 January 2009 |url-status=live }}</ref><br />
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== See also ==<br />
{{Portal bar|Companies|Energy}}<br />
* [[Oil India]]<br />
* [[Oil and gas industry in India]]<br />
* [[List of companies of India]]<br />
* [[List of largest companies by revenue]]<br />
* [[List of corporations by market capitalisation]]<br />
* [[Make in India]]<br />
* [[Forbes Global 2000]]<br />
* [[Fortune India 500]]<br />
* [[Rajiv Gandhi Institute of Petroleum Technology]]<ref>{{cite web|url=http://www.topnews.in/sonia-lay-foundation-rajiv-gandhi-petroleum-institute-rae-bareli-221339|title=Sonia to lay foundation for Rajiv Gandhi Petroleum Institute in Rae Bareli - TopNews|website=www.topnews.in|access-date=20 October 2016|archive-url=https://web.archive.org/web/20180509151043/https://www.topnews.in/sonia-lay-foundation-rajiv-gandhi-petroleum-institute-rae-bareli-221339|archive-date=9 May 2018|url-status=live}}</ref><br />
* [[Indane (LPG)]]<br />
* [[Durand Cup]]<br />
<br />
== References ==<br />
{{reflist}}<br />
<br />
== External links ==<br />
* {{Official website}}<br />
<br />
{{Public Sector Undertakings in India}}<br />
{{Nifty 200 companies}}<br />
{{Energy Ministries and Departments of India|state=collapsed}}<br />
{{Energy companies and organisations in India|state=collapsed}} <br />
{{S&P CNX Nifty companies}}<br />
{{authority control}}<br />
<br />
[[Category:Indian Oil Corporation| ]]<br />
[[Category:Oil and gas companies of India]]<br />
[[Category:Government-owned companies of India]]<br />
[[Category:Companies based in Delhi]]<br />
[[Category:Non-renewable resource companies established in 1964]]<br />
[[Category:Indian companies established in 1964]]<br />
[[Category:NIFTY 50]]<br />
[[Category:Government-owned oil and natural gas companies of India]]<br />
[[Category:1964 establishments in Delhi]]<br />
[[Category:Companies listed on the National Stock Exchange of India]]<br />
[[Category:Companies listed on the Bombay Stock Exchange]]</div>ErlindaLamson9