Indian Oil Corporation was incorporated in 1964 as a result of a merger between Indian Oil Company Limited (incorporated in 1959) and Indian Oil Refineries Limited (incorporated in 1958). Indian Oil Corporation or Indian Oil Corporation Limited is the largest oil company of India.
Indian Oil Corporation Limited is a Fortune 500 Company. Indian Oil ranks as the top Indian company to be featured in the prestigious Fortune 500 list this year (2007). Indian Oil Corporation also ranks as the 20th biggest petroleum company worldwide.
The oil refineries of Indian Oil Corporation are located at various parts of India. The IOCL has constructed an extensive network of pipelines across the various locations of India for the very purpose of consolidation of its supply and distribution system. The total length of IOC's pipeline is more than 9,000 kms.
The products and services of Indian Oil Corporation can be categorized into the following types:
Products:
- Fuels and Feedstock
- Lubes and Greases
- Petrochemicals and Specialities
- Liquefied Petroleum Gas or LPG
- Motor spirit or Gasoline
- Superior kerosene oil or Kero
- High Speed Diesel or Gas Oil
- Aviation Turbine Fuel or Jet Kero
Services:
- Refining
- Pipelines
- Marketing
- Training
- Research & Development (R&D)
- Safety & Health
- Inventions
The track record of research and development of Indian Oil Corporation is quite strong. The R&D center of IOC is regarded as the best in Asia. IOCL's research and development center is responsible for carrying out a significant portion of the hydrogen fuel research in India. IOCL wants to maintain its position as the top Indian petroleum company and it is confident that it would be able to do so.
The following are the names of 10 refineries owned by Indian Oil Corporation Limited:
- Haldia Refinery
- Panipat Refinery
- Digboi Refinery
- Gujarat Refinery or Koyali Refinery
- Barauni Refinery
- Guwahati Refinery
- Mathura Refinery
- CPCL-Chennai
- Narimanam
- Bongaigaon Refinery (subsidary)
The group companies of Indian Oil Corporation include the following:
- Lanka IOC Ltd.
- Indian Oil Mauritius Ltd.
- IOME or IOCL Middle East FZE
- Indian Oil Technologies Ltd.
- Chennai Petroleum Corporation Ltd. or CPCL
- Bongaigaon Refinery and Petrochemicals Ltd. (BRPL)