Indian Oil Corporation Limited (IOCL), is considered to be India's flagship national oil company with market interests engaging in refining, marketing of natural gas and petrochemicals, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas. The Indian Oil Corporation was founded in 1959 in New Delhi, India as Indian Oil Company Ltd. Indian Oil Corporation Ltd is an Oil, Gas & Coal industry that comes under the Energy sector.
IOC Core Business include 7 major Business division:
Their products include petrol/gasoline, lubricants and greases, diesel/gas oil, bulk/industrial fuels, autogas, cooking gas, kerosene, LPG, aviation fuel, bitumen and marine oils. In addition to its business interests, it also offers specialized products, such as Sulphur, carbon black feedstock, paraffin wax, raw petroleum coke, jute batching oil, mineral turpentine oil, propylene, toluene, microcrystalline wax and petcoke.
About Company Information:
The company functions through a network of about 9 refineries; 10231 LPG distributors; 13,391 kilometers of crude oil, gas pipelines and products; approximately 27,089 fuel stations, with including 7529 Kisan Seva Kendra outlets in the rural markets; 91 LPG bottling plants; 125 terminals and depots; 6,650 consumer pumps for large-volume consumers; 107 aviation fuel stations.
IOCL’s exploration and production portfolio includes 10 Oil and gas blocks in India, and another eight blocks in Canada, Venezuela, Libya, United States, Gabon, Nigeria and Russia.
Moreover, it involves in the explosives and cryogenic, solar power generation, windmill, lube blending and lubricants and base oil marketing activities. The company also has its export unit to export its products. It has a strategic alliance with ENOC Group. The company serves for a wide range of customers such as industrial, consumer, and marine customers, and also domestic and international flag carriers, defence services, private airlines, railways, and state transport undertakings.
In the year 1964, Indian Refineries Ltd joined with Indian Oil Corporation Ltd. On May 2006, Indian Oil Blending Limited- a wholly owned subsidiary was also merged with Indian Oil Corporation. IOCL transferred their undivided equity holding in Indian Strategic Petroleum Reserves Ltd (ISPRL) to a government body " Oil Industry Development Board", functioning under the Ministry of Petroleum & Natural Gas. Therefore, ISPRL discontinued being a wholly-owned subsidiary in May 2006.
In January 2008, IOCL wanted to set up Kwality Walls Kiosks at select Indian Oil petrol stations across the country and to make this happen; it signed an MoU with Hindustan Unilever Ltd (HUL). Also, for implementing an Integrity Pact Programme focused on enhancing transparency in their business transactions, contracts and procurement processes, the company entered into an MoU with Transparency International India (TII). In April 2008, they launched LNG at Doorstep facility at H&R Johnson. It's a first of their kind facility in the country, which is primarily focused at catering to the needs on Liquified Natural Gas(LNG) customers. LNG customers are the one who is mostly not located on the leading natural gas pipelines.
In November 2015, IOCL announced that the first consignment of products from its Paradip refinery comprising of Superior Kerosene, High-Speed Diesel and Liquefied Petroleum Gas which was dispatched on November 22, 2015.
On August 13, 2015, The Board of Directors of IOCL approved investment of Rs.1000 crore in Non-convertible cumulative redeemable preference shares. These shares were to be issued by Chennai Petroleum Corporation Limited (CPCL)- a subsidiary of IOCL.
On July 10 2017, IOC intent to construct the worlds first refinery off gas-to-bioethanol production facility in India by signing a statement with carbon recycling company LanzaTech. On July 24 2017, IOCL announced that it was ranked 168th in the Fortune Global 500 listing for 2017. IOCL was the only Indian company to be the top 200 in the prestigious list.
On November 19 2017, IOC, in collaboration with Ola, launched the country's first electric charging station at its fuel station at RBI Square, Nagpur.
The Indian Oil Corporation Ltd, Equity Shares/stocks are listed on the National Stock Exchange of India Limited (the "NSE") and BSE Limited (the "BSE", together with the NSE, the "Stock Exchanges").
The Key Dates to be noted for Indian Oil Corporation is:
March - Year Ending Month
August - AGM Date (Month)
August - Book Closure Date (Month)
As of May 2019 - Indian oil Corporation Management Team:
Parindu K Bhagat - Independent Director
Ashutosh Jindal - Nominee (Govt)
GK Satish - Director (Busin.Devlop. & Plan)
SSV Ramakumar - Director (Research & Devplmnt)
Kamal Kumar Gwalani - Company Secretary
Vinoo Mathur - Independent Director
Samirendra Chatterjee - Independent Director
Chitta Ranjan Biswal - Independent Director
Jagdish Kishwan - Independent Director
Sankar Chakraborty - Independent Director
Dharmendra Singh Shekhawat - Independent Director
B V Rama Gopal - Director (Refineries)
Ranjan Kumar Mohapatra - Director (Human Resources)
Gurmeet Singh - Director (Marketing)
Akshay Kumar Singh - Director (Pipelines)
Indrani Kaushal - Government Director
How IOC is categorised under Energy sector:
The energy sector is a section of stocks that is related to producing or supplying energy. The companies involved in the exploration and development of oil and gas, refining, drilling or renewable energy power utility companies are mostly categorised under Energy sector.
In this sector, the performance of the industries is purely based on supply and demand for universal energy. When the value of the commodity drops, the oil and gas producers earn less when compared to the conditions where the oil and gas prices are high. But on the other hand, when the crude oil prices drop, the oil refiners benefit from the falling cost to produce petroleum products like gasoline. Besides, this sector is too sensitive and volatile to political events, which historically have accelerated changes in the price of oil.
IOC Competitors and Sector Peers:
Reliance Industries Ltd - RELIANCE
Bharat Petroleum Corporation Ltd - BPCL
Hindustan Petroleum Corporation Ltd - HINDPETRO
Mangalore Refinery And Petrochemicals Ltd - MRPL
Indian Oil Corporation Limited -Contact Information
G-9 Ali Yavar Jung Marg Bandra East, Mumbai, 400 051 India