Indian Oil Corporation Limited history, profile and history video
Indian Oil Corporation Limited (IndianOil) is an oil company. The Company’s operations include refineries, pipelines, marketing, research and development (R&D) Centre and Business Development, enterprise and planning (E&P), petrochemicals and natural gas. IndianOil and its subsidiaries own and operate 10 of India’s refineries and its cross-country network of crude oil, product and gas pipelines. Its portfolio of brands includes Indane LPGas, SERVO lubricants, XtraPremium petrol, XTRAMILE diesel and Propel Petrochemicals. In exploration and production, IndianOil’s domestic portfolio includes 13 blocks, out of which in two blocks IndianOil is having 100% participating interest as an operator. The overseas portfolio consists of nine blocks spread across Libya, Iran, Gabon, Nigeria, Yemen & Venezuela. The Digboi Refinery processed 0.62 million tons of crude oil during the fiscal year ended March 31, 2012 (fiscal 2012).”
IndianOil is India’s flagship national oil company with business interests straddling the entire hydrocarbon value chain – from refining, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas, marketing of natural gas and petrochemicals. It is the leading Indian corporate in the Fortune ‘Global 500’ listing, ranked at the 88th position in the year 2013.
With over 34,000 strong workforce, IndianOil has been helping to meet India’s energy demands for over half a century. With a corporate vision to be the Energy of India, IndianOil closed the year 2013-14 with a sales turnover of Rs. 4,73,210 crore and profits of Rs 7,019 crore.
At IndianOil, operations are strategically structured along business verticals – Refineries, Pipelines, Marketing, R&D Centre and Business Development – E&P, Petrochemicals and Natural Gas. To achieve the next level of growth, IndianOil is currently forging ahead on a well laid-out road map through vertical integration— upstream into oil exploration & production (E&P) and downstream into petrochemicals – and diversification into natural gas marketing and alternative energy, besides globalisation of its downstream operations. Having set up subsidiaries in Sri Lanka, Mauritius and the United Arab Emirates (UAE), IndianOil is simultaneously scouting for new business opportunities in the energy markets of Asia and Africa.”
*Information from Forbes.com and Iocl.com
**Video published on YouTube by “Indian Oil Corporation Limited“