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IOC - AN INTRODUCTION

Indian Oil Corporation Ltd. is India’s largest


commercial enterprise, with a sales turnover of
Rs.2,85,337 crore and a net profit of Rs.2,950 crore
for the year 2008 – 09. Indian Oil is also the highest
ranked Indian company in the prestigious Fortune
Global 500 listing ( 116 th position in 2008).
Indian Oil Company Ltd. established as an Oil
marketing entity on 30 th june 1959, and was
renamed Indian Oil Corporation Ltd. on 1st September
1964 following the merger of the refining entity
,Indian Refineries Ltd.
Since then, the Indian Oil people with their
dedication and determination have nurtured the
integrated downstream petroleum company into
India’s No. 1 company and the country’s largest
commercial enterprise . It is the ceaseless efforts of
several generations of the Indian oil family that has
today placed the corporation firmly among the
world’s largest corporate , with the distinction of
being 18th largest petroleum company in the world .
Set up with a clear mandate for achieving self-
sufficiency in petroleum refining ,pipelines
transportation and marketing operations for a nascent
nation set on the path of economic growth and
IOC - AN INTRODUCTION
prosperity , Indian Oil is proud to account for nearly
half of India’s petroleum consumption today .
Indian Oil and its subsidies account for 49%
petroleum products market share , 40.4 % refining
capacity and 69 % downstream

sector pipelines capacity in India . The Indian Oil


Group of companies owns and operates 10 of India’s
20 refineries with a combined refining capacity of
60.2 MMPTA. i.e. 1.2 barrels per day. The
Corporation’s cross – country network of crude oil and
product pipelines ,spanning about 9,300 km and the
largest in the country, meets the vital energy needs
of the consumers in an efficient, economical and
environmental – friendly manner.
To achieve the next level of growth, Indian Oil is
currently forging ahead on a well laid – out road
map through vertical integration - upstream into oil
Exploration & Production and downstream into
petrochemicals and diversification into natural gas
marketing, besides globalization of its downstream
operations .
As the leading public sector enterprise of India,
Indian Oil has successfully combined its corporate
social responsibility agenda with its business
offerings, meeting the energy needs of millions of
IOC - AN INTRODUCTION
people everyday across the length and breadth of
the country , traversing a diversity of cultures ,
difficult terrains and harsh climatic conditions . The
corporation takes pride in its continuous investments
in innovative technologies and solutions for
sustainable energy flow and economic viable and
environment- friendly products & services for the
benefit of its consumers.