Indian Oil Corporation Limited (IOCL)

History

In 1963, Indian Oil Company Limited was merged with Indian Refineries Limited to form Indian Oil Corporation Limited or IOCL, and the company has since grown to become India's biggest oil company.

Performance:

In fiscal 2005, IOCL's turnover was Rs. 1,83,204 crores ($41 billion) with profits of Rs. 4,195 crores ($1.10 billion). Fortune 500 has ranked IOCL at 153rd globally, on the basis of its performance in fiscal 2005.

Activities

The activities of IOCL are classified into two main areas:

• Petroleum products - Crude oil, lubricants and grease, oil base and additives, and other related products.
• Other business - Imported curde oil, gas, oil and gas exploration, engineering, polyester staple fiber and petrochemicals.

Assets and Infrastructure:

As many as 10 of India's 18 refineries are owned and operated by IOCL across different locations spread throughout the country.

IOCL has built a wide network of pipelines across different parts of the country to consolidate its delivery and transportation system. The total length of the pipeline exceeds 9000 kilometers.

Research & Development:

IOCL has a very strong and renowned research and development track record. It has Asia's best R & D center, where its scientists and engineers continuously strive to break new frontiers of product development, delivery, and quality. A significant part of India's Hydrogen fuel research takes place at IOCL's R & D center.

Future:

IOCL intends to retain its position as India's number one oil company. From its present turnover of $41 billion, the company intends to reach a turnover of $60 billion in another 6 years. To that end the company has identified a well defined road map that involves a combination of backward and forward integration into vital areas of the industry. The company is confident that its global profile will immensely help it in its endeavor.

organization:

IOCL is headed by Mr. S. Behuria who is the Chairman of the company.

Headquarters Address:

Indian Oil
3079/3,
J B Tito Marg,
Sadiq Nagar,
New Delhi - 110049
Phone: +91 11 24321704
Website URL: www.iocl.com