Indian Oil Corporation Ltd (IOCL) is India's flagship national company with business interests straddling the whole hydrocarbon value chain - from refining pipeline transportation and marketing of petroleum products to exploration & production of petroleum & gas marketing of gas and petrochemicals. It is an Indian public sector oil and gas company headquartered in New Delhi.
Indian Oil Corporation Ltd was established within the year 1959 as Indian company Ltd. It is the largest commercial oil company in the country, with a net profit of ₹19,106 crores (US$2.848 billion) for the financial year 2016–17. It is ranked 1st in Fortune India 500 list for the year 2016 and 117th in Fortune Global 500 list of world's largest companies in the year 2019.
Indian Oil Corporation Ltd’s equity shares are listed on all the famous stock exchanges of India like National Stock Exchange Ltd., Bombay Stock Exchange Ltd., MCX Stock Exchange and many more. The Indian Oil Corporation Ltd believes in mutual respect and transparency and the staff is trained to be simple, straightforward, down-to-earth and approachable.
In May 2018, IOCL became India's most profitable state-owned company for the second consecutive year, with a record profit of ₹21,346 crores in 2017–18, followed by Oil and Natural Gas Corporation, whose profit stood at ₹19,945 crores.
In the year 1964 Indian Refineries Ltd merged with Indian Oil Corporation Ltd. Indian Oil Blending Ltd, a wholly-owned subsidiary, was merged with Indian Oil in May 2006. The company transferred their entire equity holding in Indian Strategic Petroleum Reserves Ltd (ISPRL) to the refining industry Development Board, a government body functioning under the Ministry of Petroleum & Natural Gas. Consequently, ISPRL ceased to be a wholly-owned subsidiary in May 2006. The company formed one subsidiary namely IOC Middle East FZE in Jebel Ali trade Zone Dubai with the target of selling lubricants and other petroleum products in Middle East Africa and CIS regions.
Indian Oil accounts for almost half India's market share of oil products, 35% domestic refining capacity (including the subsidiary Chennai Petroleum Corporation (CPCL)) and 71% downstream power pipelines. The Indian Oil Group holds and operates 11 of the 23 refineries in India, with a total annual refining capacity of 80,7 million tonnes. Indian Oil's transboundary pipeline network stretches over 13,000 km to transport crude oil to the refinery and finished products to high demand centres. The Company has an annual capacity for crude oil and petroleum products with a volume of 80,49 million metres per year and a normal capacity of 9,5 million m3 per day to transport petroleum products. The first electric charging station in India in Nagpur was introduced by the IOC in partnership with Ola on 19 November 2017.
IOC, in collaboration with Ola, launched India’s first electric charging station at one of its petrol-diesel stations in Nagpur.
On 24 July 2017, IOCL announced that it was ranked 168th in the Fortune ‘Global 500’ listing for 2017. IOCL was the only Indian company in the top 200 in the prestigious list.
On 31 December 2015 Indian Oil Corporation announced that it has entered into a binding Gas Sale and Purchase Agreement (GSPA) with Petronet LNG Limited (PLL) for procurement of an additional quantity of 0.3 MTPA of LNG with effect from January 2016.
In 2012 Oil India Limited (OIL) and Indian Oil Corporation (IOCL) jointly acquired a stake in Carrizo's liquid-rich shale assets in the Niobrara basin in Colorado USA.
During the year 2009-10, the company commissioned 238 new retail outlets and 414 Kisan Seva Kendra (KSK) outlets taking their total tally to 18643.
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A comparative analysis of the Crude Oil Sector is available on the website. It helps to analyze the company's competitive position and its operating results over a specific period. It gives an investor a sense of whether the company is growing, stable or deteriorating. This gives investors clarity about which stock they should invest in.
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Our website has information about 12 other crude oil companies which give insight about the financials of the company. Companies include Reliance Industries, Oil and Natural Gas Corporation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, Oil India, Mangalore Refinery & Petrochemicals, Rain Industries, Chennai Petroleum Corporation, Hindustan Oil Exploration Company, South Asian Petrochem and Asian Oilfield Service.