Indian Oil Corporation

From Wikipedia, the free encyclopedia (Redirected from IOCL)

For the American-based oil company, see Indian Refining Company.

Indian Oil Corporation Limited

Type

State-owned enterprise Public

Traded as

BSE: 530965 NSE: IOC

Industry

Oil and Gas

Founded

1964

Headquarters

Mumbai, India

Key people

Ranbir Singh Butola (Chairman)

Products

Oil Petroleum Natural gas

Petrochemical Fuel Lubricant

Revenue

US$ 51.81 billion (2010)[1]

Operating income

US$ 3.74 billion (2010)[1]

Net income

US$ 2.44 billion (2010)[1]

Total assets

US$ 34.36 billion (2010)[1]

Total equity

US$ 12.05 billion (2010)[1]

Employees

34,363 (2010)[1]

Website

Iocl.com

IndianOil tanker at Chhatrapati Shivaji International Airport, Mumbai

Indian Oil Corporation Limited, or IndianOil, (BSE: 530965, NSE: IOC) is an Indian state-owned oil and gas company headquartered at Mumbai, India. It is Indias largest commercial enterprise, ranking 125th on the Fortune Global 500 list in 2010. IndianOil and its subsidiaries account for a 47% share in the petroleum products market, 34.8% share in refining capacity and 67% downstream sector pipelines capacity in India. The Indian Oil Group of

Companies owns and operates 10 of India's 19 refineries with a combined refining capacity of 65.7 million metric tons per year. IndianOil operates the largest and the widest network of fuel stations in the country, numbering about 17606 (15557 regular ROs & 2049 Kissan Sewa Kendra). It has also started Auto LPG Dispensing Stations (ALDS). It supplies Indane cooking gas to over 47.5 million households through a network of 4,990 Indian distributors. In addition, IndianOil's Research and Development Center (R&D) at Faridabadsupports, develops and provides the necessary technology solutions to the operating divisions of the corporation and its customers within the country and abroad. Subsequently, IndianOil Technologies Limited - a wholly owned subsidiary, was set up in 2003, with a vision to market the technologies developed at IndianOil's Research and Development Center. It has been modeled on the R&D marketing arms of Royal Dutch Shell and British Petroleum.
Contents
[hide]

1 History 2 Products 3 Refineries 4 Group companies and joint ventures 5 International rankings 6 Loyalty programs 7 Competitors 8 Concerns 9 Oil Industry Development Board 10 References 11 See also 12 External links

[edit]History

IndianOil began operation in 1964 as Indian Oil Company Ltd. The Indian Oil Corporation was formed in 1964, with the merger of Indian Refineries Ltd. Feroze Gandhi was the first chairman of Indian Oil Corporation Limited.

[edit]Products

IndianOil's product range covers petrol, diesel, LPG, auto LPG, aviation turbine fuel, lubricants, naphtha, bitumen, paraffin, kerosene etc. Xtra Premium petrol, Xtra Mile diesel, Servo lubricants, Indane LPG, Autogas LPG, Indian Oil Aviation are some of its prominent brands. Recently Indian Oil has also introduced a new business line of supplying LNG (liquefied natural gas) by cryogenic transportation. This is called "LNG at Doorstep". LNG headquarters are located at the Scope Complex, Lodhi Road, Delhi.
[edit]Refineries


Digboi Refinery, in Upper Assam, is India's oldest refinery and was commissioned in 1901. Originally a part of Assam Oil Company, it became part of IndianOil in 1981. Its original refining capacity had been 0.5 MMTPA since 1901. Modernisation project of this refinery has been completed and the refinery now has an increased capacity of 0.65 MMTPA. Guwahati Refinery, the first public sector refinery of the country, was built with Romanian collaboration and was inaugurated by Late Pt.Jawaharlal Nehru, the first Prime Minister of India, on 1 January 1962. Barauni Refinery, in Bihar, was built in collaboration with Russia and Romania. It was commissioned in 1964 with a capacity of 1 MMTPA. Its capacity today is 6 MMTPA. Gujarat Refinery, at Koyali in Gujarat in Western India, is IndianOils largest refinery. The refinery was commissioned in 1965. It also houses the first hydrocracking unit of the country. Its present capacity is 13.70 MMTPA. Haldia Refinery is the only coastal refinery of the Corporation, situated 136 km downstream of Kolkata in the Purba Medinipur (East Midnapore) district. It was commissioned in 1975 with a capacity of 2.5 MMTPA, which has since been increased to 5.8 MMTPA Mathura Refinery was commissioned in 1982 as the sixth refinery in the fold of IndianOil and with an original capacity of 6.0 MMTPA. Located strategically between the historic cities of Delhi and Agra, the capacity of Mathura refinery was increased to 7.5 MMTPA.

Panipat Refinery is the seventh refinery of IndianOil. The original refinery with 6 MMTPA capacity was built and commissioned in 1998. Panipat Refinery has doubled its refining capacity from 6 MMT/yr to 12 MMTPA with the commissioning of its Expansion Project. Bongaigaon Refinery is the eight refinery of Indian Oil. It became the eighth refinery of Indian Oil Corporation Limited after merger of Bongaigaon Refinery & Petrochemicals Limited with IOCL w.e.f. 25th March 2009. It is located at Dhaligaon in Chirang district of Assam, 200 Kms west of Guwahati.The present crude processing capacity of the refinery is 2.35 MMTPA. The refinery has two Crude Distillation Units of 1.35 MMTPA and 1.00 MMTPA capacities, two Delayed Coker Units each of 0.5 MMTPA capacity, one Coke Calcination Unit of 0.075 MMTPA and a Catalytic Reformer of 160,000 MTPA naphtha feed capacity and an LPG Bottling Plant.

It is believed that the future IOCL refinery Will be Paradeep Refinery. It is expected to be handover at 2012. Subsidiary refineries Chennai Petroleum (9.5 MMTPA)
[edit]Group


companies and joint ventures

 

  

IndianOil Technologies Ltd : IndianOil Technologies Ltd. is the marketing arm of IOCL which markets the entire range of technologies developed at the IndianOil R&D Centre,Faridabad. IndianOil Technologies Ltd. headquarters is located at the IndianOil R&D Centre. IndianOil (Mauritius) Ltd. Lanka IOC PLC - Group company for retail and storage operations in Sri Lanka. It is listed in the Colombo Stock Exchange. It was locked into a bitter subsidy payment dispute with Sri Lanka's Government which has since been resolved.[citation needed] IOC Middle East FZE Chennai Petroleum Corporation Limited Green Gas Ltd. - a joint venture with Gas Authority of India Ltd. for city-wide gas distribution networks. Indo Cat Pvt. Ltd., with Intercat, USA, for manufacturing 15,000 tonnes per annum of FCC (fluidised catalytic cracking) catalysts & additives in India.

Indian Oil - CREDA Biofuels Ltd. , a joint venture with Chattisgarh government for production and marketing of Bio-fuels. Numerous exploration and production ventures with Oil India Ltd., Oil and Natural Gas Corporation

[edit]International

rankings

Indian Oil is the highest ranked Indian company in the Fortune Global 500 listing, 125th position in 2010. It is also the 18th largest petroleum company in the world and the number one petroleum trading company among the National Oil Companies in the Asia-Pacific region. IOCL was featured on the 2010 Forbes Global 2000 at position 313. It is fifth most valued brand in India according to an annual survey conducted by Brand Finance and The Economic Times in 2010. [2]
[edit]Loyalty

programs

XTRAPOWER Fleet Card Program is aimed at Large Fleet Operators. Currently it has 1 million customer base. XTRAREWARDS is a recently launched loyalty program for retail customers where customers can earn reward points on their purchases.in the org
[edit]Competitors

Indian Oil Corporation has two major domestic competitors, Bharat Petroleum and Hindustan Petroleum. Both are state-controlled, like Indian Oil Corporation. There are two private competitors, Reliance Industries and Essar Oil.Other competitors are coming faster.
[edit]Concerns

The volatility in the crude market & subsidy burden on the IOCL has dented the company performance like other PSU oil companies. This is also reflected in its FORTUNE rating this year. Moreover, bureaucratic hurdles in projects are hurting company advancement. IOCL has one of the best technical manpower for execution of jobs.
[edit]Oil

Industry Development Board

India has begun the development of a strategic crude oil reserve sized at 37.4 million barrels, enough for two weeks of consumption.[3] Petroleum stocks have been transferred from the Indian Oil Corporation(IndianOil) to the Oil Industry

Development Board (OIDB).[4] The OIDB then created the Indian Strategic Petroleum Reserves Ltd (ISPRL) to serve as the controlling government agency for the strategic reserve.[5]
[edit]

About Us
y y Email Print Indian Oil Corporation Ltd. is India's largest company by sales with a turnover of Rs. 271,074 crore and profit of Rs. 10,221 crore for the year 2009-10. IndianOil is the highest ranked Indian company in the latest Fortune Global 500 listings, ranked at the 125th position. IndianOil's vision is driven by a group of dynamic leaders who have made it a name to reckon with. In this section, read about IndianOils business and its spread across the country & abroad. You can also know about IndianOil's current financial performance, special initiatives and recognitions & awards that have come its way.

Updated on November 23, 2010

Our Distinctions y y y y y y y y IndianOil in Top Ten of the Most Recognised & Respected Indian MNCs IndianOil tops BS 1000 rankings IndianOil - One of the Best Companies to Work For: BT Survey IndianOil tops the Fortune India 500 Rankings IndianOil in top five in Business India's Super 100 IndianOil is Indias Biggest Company: ET 500 IndianOil in Platts Top 250 Global Energy Company Rankings IndianOil in top ten of BT 500 PSU rankings

y y y y

IndianOil: Indias largest PSU and Highest Revenue Earner in BW Real 500 rankings IndianOil: One of Indias Most Valuable Brands 2010 IndianOil leads the pack of Indian companies in Fortunes Global 500 list IndianOil in Top 50 Best Companies To Work For

Vision with Values

y y Email Print

Updated on July 23, 2009

Values

y y y y y y y y y y y y y y y y y y y y y

Indianoil nurtures the core values of Care, Initiative, Passion & Trust across the organization in order to deliver value to its stakeholders. Care Stands for Concern Empathy Understanding Co-operation Empowerment Innovation Stands for Creativity Ability to learn Flexibility Change Passion Stands for Commitment Dedication Pride Inspiration Ownership Zeal & Zest Trust Stands for Delivered promises Reliability Dependability Integrity Truthfulness Transparency

Objectives & Obligations

y y Email Print Objectives

To serve the national interests in oil and related sectors in accordance and consistent with Government policies. To ensure maintenance of continuous and smooth supplies of petroleum products by way of crude oil refining, transportation and marketing activities and to provide appropriate assistance to consumers to conserve and use petroleum products efficiently. To enhance the country's self-sufficiency in crude oil refining and build expertise in laying of crude oil and petroleum product pipelines. To further enhance marketing infrastructure and reseller network for providing assured service to customers throughout the country. To create a strong research & development base in refinery processes, product formulations, pipeline transportation and alternative fuels with a view to minimizing/eliminating imports and to have next generation products. To optimise utilisation of refining capacity and maximize distillate yield and gross refining margin. To maximise utilisation of the existing facilities for improving efficiency and increasing productivity. To minimise fuel consumption and hydrocarbon loss in refineries and stock loss in marketing operations to effect energy conservation. To earn a reasonable rate of return on investment. To avail of all viable opportunities, both national and global, arising out of the Government of Indias policy of liberalisation and reforms. To achieve higher growth through mergers, acquisitions, integration and diversification by harnessing new business opportunities in oil exploration & production, petrochemicals, natural gas and downstream opportunities overseas. To inculcate strong core values among the employees and continuously update skill sets for full exploitation of the new business opportunities. To develop operational synergies with subsidiaries and joint ventures and continuously engage across the hydrocarbon value chain for the benefit of society at large. Obligations

Towards customers and dealers:- To provide prompt, courteous and efficient service and quality products at competitive prices. Towards suppliers:- To ensure prompt dealings with integrity, impartiality and courtesy and help promote ancillary industries. Towards employees:- To develop their capabilities and facilitate their advancement through appropriate training and career planning. To have fair dealings with recognised representatives of employees in pursuance of healthy industrial relations practices and sound personnel policies. Towards community:- To develop techno-economically viable and environment-friendly products. To maintain the highest standards in respect of safety, environment protection and occupational health at all production units. Towards Defence Services:- To maintain adequate supplies to Defence and other para-military services during normal as well as emergency situations. Financial Objectives

To ensure adequate return on the capital employed and maintain a reasonable annual dividend on equity capital. To ensure maximum economy in expenditure. To manage and operate all facilities in an efficient manner so as to generate adequate internal resources to meet revenue cost and requirements for project investment, without budgetary support. To develop long-term corporate plans to provide for adequate growth of the Corporations business. To reduce the cost of production of petroleum products by means of systematic cost control measures and thereby sustain market leadership through cost competitiveness. To complete all planned projects within the scheduled time and approved cost.

Marketing
y y Email Print Reaching out to a Billion Hearts

IndianOil has one of the largest petroleum marketing and distribution networks in Asia, with over 35,000 marketing touch points. Its ubiquitous petrol/diesel stations are located across different terrains and regions of the Indian sub-continent. From the icy heights of the Himalayas to the sun-soaked shores of Kerala, from Kutch on India's western tip to Kohima in the verdant North East, IndianOil is truly 'in every heart, in every part'. IndianOil's vast marketing infrastructure of petrol/diesel stations,Indane (LPG) distributorships, SERVO lubricants & greases outlets and large volume consumer pumps are backed by bulk storage terminals and installations, inland depots, aviation fuel stations, LPG bottling plants and lube blending plants amongst others. The countrywide marketing operations are coordinated by 16 State Offices and over 100 decentralised administrative offices.

Several landmark surveys continue to rate IndianOil as the dominant energy brand in the country and an enduring symbol for high quality petroleum products and services. The heritage and iconic association that the brand invokes has been built over four decades of commitment to uninterrupted supply line of petroleum products to every part of the country, and unique products that cater not only to the functional requirements but also the inspirational needs of millions of customers. IndianOil has been adjudged India's No. 1 brand by UK-based Brand Finance, an independent consultancy that deals with valuation of brands. It was also listed as India's 'Most Trusted Brand' in the 'Gasoline' category in a Readers' Digest - AC Nielsen survey. In addition, IndianOil topped The Hindu Businessline's "India's Most Valuable Brands" list. However, the value of the IndianOil brand is not just limited to its commercial role as an energy provider but straddles the entire value chain of gamut of exploration & production, refining, transportation & marketing, petrochemicals & natural gas and downstream marketing operations abroad. IndianOil is a national brand owned by over a billion Indians and that is a priceless value.

Investor Centre
y y Email Print The shares of the company are listed on Bombay Stock Exchange Ltd. and National Stock Exchange Ltd. The shares of the company are compulsorily traded in the dematerialized form. The company has an agreement with NSDL and CDSL to enable the shareholders to deal in the shares of the company in dematerialized form. The Stock Code of the Company at BSE is 530965 and at NSE is IOC. The ISIN No. for the purpose of dematerialisation is INE 242A01010. The company hosts various information like quarterly shareholding pattern, presentation to bankers and financial analysts, statutory notices etc. for the benefit of its shareholders on its website. The company has created an e-mail id is investors@indianoil.co.in to enable shareholders to communicate with the company. The Registrar & Transfer Agent of the company is, M/s Karvy Computershare Pvt. Ltd. Plot No. 17-24, Vittal Rao Nagar, Madhapur, Hyderabad 500 081. The email id is mailmanager@karvy.com

Distinctions
y y Email Print IndianOil: One Mumbai, June 27, 2011 of The Best Companies to Work For

An organisation is as good as its people this age old adage got a fillip when IndianOil was adjudged as one of the Best Companies to Work For in India by the Great Places to Work Institute(GPW), IndianOil in Top New Delhi, April 25, 2011 10 Indian Companies in Forbes Global 2000

IndianOil has once again made it to the list of the Forbes Global 2000, compiled by Forbes magazine for the year 2011. Ranked at the 243rd position, IndianOil stands in the Top Ten of the 57 Indian companies figuring in the list.

IndianOil in Top Ten New Delhi, April 07, 2011

of

the

Most

Recognised

&

Respected

Indian

MNCs

IndianOil has figured in the top ten of global recognition rankings, compiled by Penn Schoen Berland (PSB) in its The Most Recognised and Respected Indian Multinationals survey. IndianOil has been ranked at the eighth position in the list.

IndianOil: One New Delhi, March 22, 2011

of

the

top

Global

500

Brands

IndianOil has made it to list of top Global 500 Brands list compiled by Brand Finance for the year 2011. Listed at the 232nd position in the list, the Corporations brand value in the year 2011 is pegged at $ 4.3 billion as compared to $ 4.0 billion in the previous year. IndianOil tops New Delhi, March 11, 2011 BS 1000 rankings

For the second year in a row, IndianOil has topped the Business Standard BS 1000' ranking of Indias biggest companies by net sales. IndianOil One of New Delhi, January 24, 2011 the Best Companies to Work For: BT Survey

IndianOil has figured among the best employers in the Indian workplace as per the tenth annual edition of the Best Companies to Work For survey unveiled by the BusinessToday magazine in its latest edition.

Awards & Accreditations

y y Email Print

IndianOil New Delhi, May 11, 2011

sweeps

PetroFed

Awards

IndianOil continued its dream run at the PetroFed Awards, bagging four awards for the year 2009 and six for 2010 at a glittering ceremony hosted by the Petroleum Federation of India (Petrofed). IndianOil conferred New Delhi, April 11, 2011 SCOPE Award for Human Resource Management

At a glittering ceremony at the Vigyan Bhavan today, Her Excellency Smt. Prathiba Devisingh Patil, Hon'ble President of India today conferred the SCOPE Meritorious Award 2009-10 for Best Practices in Human Resource Management upon IndianOil. IndianOil bags Chemtech Mumbai, March 03, 2011 Cew Award-2011 for INDMAX Technology

In recognition of the invaluable contribution to the hydrocarbon industry, IndianOil has been conferred the Outstanding Achievement in Research & Development Award for INDMAX Technology by the CHEMTECH Foundation. Dr. R.K. Malhotra, Director (R&D), received the award from His Excellency Mr. Kateekal Sankaranarayanan, Governor of Maharashtra, at the CHEMTECH - PHARMA-BIO Awards Function held at Mumbai on February 24, 2011. HR leadership Mumbai , February 16, 2011 Award to Director (HR)

In a resounding recognition of his people-skill and validation of employee-centric policies, Mr. Sudhir Bhalla, Director (HR), was conferred the prestigious 'HR Leadership Award' during the Global HR Excellence Awards 2010-11 ceremony held at the recently-concluded World HRD Congress at Mumbai from February 10-12, 2011. IndianOil bags New Delhi, February 14, 2011 WIPS Award for Womens Development

IndianOil bagged the Best Enterprise Award for Womens Development' for the year 2010. The award was received by Mr. DSL Prasad, ED, Tamil Nadu State Office, from Dr. U D Choubey, Director General, SCOPE, in the presence of Mr. M.M. Rajendran, former Governor of Orissa, at the 21st National Convention of Forum of Women in Public Sector held in Chennai recently. IndianOil wins Mumbai, February 02, 2011 Customer & Brand Loyalty Award

In a sweeping recognition of customers faith in IndianOil products and services, IndianOil won the Customer & Brand Loyalty Award in the oil & gas sector for the fourth year in a row at the 4th Loyalty Awards.

Indane Gas
y y Email Print

Indane is today one of the largest packed-LPG brands in the world and has been conferred the coveted Consumer Superbrand status by the Superbrands Council of India. Having launched LPG marketing in the mid-60s, IndianOil has been credited with bringing about a kitchen revolution, spreading warmth and cheer in millions of households with the introduction of the clean and efficient cooking fuel. It has led to a substantial improvement in the health of women, especially in rural areas by replacing smoky and unhealthy chulha. Indaneis today an ideal fuel for modern kitchens, synonymous with safety, reliability and convenience. With the status of an exclusive business vertical within the Corporation, the Indane network delivers 1.2 million cylinders a day to the doorsteps of over 53 million households, making IndianOil the second largest marketer of LPG globally, after SHV Gas of The Netherlands. Indane is available in compact 5 kg cylinders for rural, hilly and inaccessible areas, 14.2 kg cylinders for domestic use, and 19 kg and 47.5 kg for commercial and industrial use.

LPG is a blend of Butane and Propane readily liquefied under moderate pressure. LPG vapour is heavier than air; thus it normally settles down in low-lying places. Since LPG has only a faint scent, a mercaptan odorant is added to help in its detection. In the event of an LPG leak, the vapourisation of liquid cools the atmosphere and condenses the water vapour contained in it to form a whitish fog, which is easy to observe. LPG in fairly large concentrations displaces oxygen leading to a nauseous or suffocating feeling. Suraksha LPG hose, flame retardant aprons and energy efficient Green Label stoves are recommended to enhance safety measures while using LPG as cooking fuel.