223.176.0.189 at 15:45, 9 July 2021

2021-07-09T15:45:09Z

New page

{{short description|Indian public sector oil and gas company}}
{{Use Indian English|date=September 2017}}
{{Use dmy dates|date=September 2020}}
{{Infobox company
| name = Indian Oil Corporation Limited
| logo = Indian Oil Logo.svg
| logo_size = 200px
| logo_alt = Indian Oil's Logo
| logo_caption = ''The Energy of India''
| image =
| image_caption =
| type = [[Government of India|Government Corporation]]
| traded_as = {{unbulleted list|{{BSE|530965}}|{{NSE|IOC}}|[[NIFTY 50|NSE NIFTY 50 Constituent]]}}
| ISIN = INE242A01010
| industry = [[Energy industry|Energy]]: [[Oil and gas industry|Oil and gas]]
| foundation = {{Start date and age|30 June 1959}}
| location = {{plainlist|
*[[New Delhi]] (headquarters)
*[[Mumbai]] (registered office)}}
| predecessor = {{plainlist|
*Indian Refineries Ltd. (1958)
*Indian Oil Company (1959)}}
| area_served = [[India]], [[Sri Lanka]], [[Middle East]], [[Mauritius]] & Worldwide
| parent = [[Ministry of Petroleum and Natural Gas]] , [[Government of India]]
| key_people = Shrikant Madhav Vaidya ([[Chairman]])<ref>{{Cite news|url=https://timesofindia.indiatimes.com/business/india-business/shrikant-madhav-vaidya-takes-over-as-indian-oil-corporation-chairman/articleshow/76732110.cms|title=Shrikant Madhav Vaidya has taken over as the new chairman of Indian Oil Corporation Ltd.|work= Times of India}}</ref>
| products = {{ubl|[[LNG]]|[[Lubricant]]s|[[Natural gas]]|[[Petrochemical]]s|[[Petroleum]]}}
| revenue = {{Decrease}} {{INRConvert|367449|c}} (2021)<ref name=10K>{{cite web|url=https://www.moneycontrol.com/india/stockpricequote/refineries/indianoilcorporation/IOC|title=Indian Oil Corporation Ltd. Financial Statements |website=moneycontrol.com}}</ref>
| operating_income = {{Increase}} {{INRConvert|33143|c}} (2021)<ref name=10K/>
| net_income = {{Increase}} {{INRConvert|20565|c}} (2021)<ref name=10K/>
| assets = {{Increase}} {{INRConvert|354915|c}} (2021)<ref name=10K/>
| equity = {{Increase}} {{INRConvert|102657|c}} (2021)<ref name=10K/>
| num_employees = 33,498 (2021)<ref name=10K/>
| owner = {{nowrap|[[Government of India]] (51.50%)<ref>{{Cite web|url=https://www.ndtv.com/business/stock/indian-oil-corporation-ltd_ioc/holdings|title=Indian Oil Corp.: Holding details|publisher=NDTV|access-date=19 June 2019|archive-url=https://web.archive.org/web/20190618162054/https://www.ndtv.com/business/stock/indian-oil-corporation-ltd_ioc/holdings|archive-date=18 June 2019|url-status=live}}</ref> }}
| subsid = {{plainlist|
*IndianOil (Mauritius) Limited
*[[Chennai Petroleum Corporation Limited]]
*[[Lanka IOC|Lanka IOC PLC]]
*IOC Middle East FZE
*[[Indane (LPG)]]}}
| homepage = {{URL|www.iocl.com}}
}}

'''Indian Oil Corporation Limited (IOCL)''', [[trade name|d/b/a]] '''IndianOil''', is an Indian [[Government of India|government-owned]] oil and gas corporation. It is under the [[ownership]] of [[Ministry of Petroleum and Natural Gas]] , [[Government of India]] headquartered in [[New Delhi]].<ref name="arpt2018">{{cite book |title=Annual report 2017-2018 |publisher=Indian Oil Corporation |location=Mumbai |url=https://rbidocs.rbi.org.in/rdocs/notification/PDFs/71APDIR030215.pdf |access-date=11 October 2018 |archive-url=https://web.archive.org/web/20161018140037/https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/71APDIR030215.pdf |archive-date=18 October 2016 |url-status=live }}</ref> It is the largest commercial oil company in the country, with a net profit of ₹43,242 crore (US$6.1 billion) for the financial year 2020-21.<ref>{{Cite news|title=Annual Profit|work=Golbal500|url=https://www.business-standard.com/article/companies/ioc-posts-all-time-high-profit-in-fy21-of-rs-21-638-cr-versus-year-ago-loss-121051901120_1.html#:~:text=State%2Downed%20oil%20refining%20and,ever%20reported%20by%20the%20firm.|url-status=live|access-date=27 May 2021|archive-url=|archive-date=}}</ref> It is ranked 2nd in Fortune India 500 list for year 2020<ref>{{Cite web|title=Indian Oil - Fortune 500 List 2020 - Fortune India|url=https://www.fortuneindia.com/fortune-500?year=2020|url-status=live|archive-url=|archive-date=|access-date=27 May 2021|website=www.fortuneindia.com|language=en}}</ref> and 151st in [[Fortune Global 500]] list of world's largest companies in the year 2020.<ref>{{cite news|title=Fortune Global 500 list|work=Fortune|url=https://fortune.com/company/indian-oil/global500/|url-status=live|access-date=27 May 2020|archive-url=|archive-date=}}</ref> As of 31 March 2020 Indian Oil's employee strength is 33,498, out of which 17,704 are executives and 15,794 non-executives.<ref>{{Cite web|title=Indian Oil Corporation Ltd Management Discussions|url=https://www.indiainfoline.com/company/indian-oil-corporation-ltd/management-discussions/12002|url-status=live|archive-url=|archive-date=|access-date=27 May 2021|website=IIFL Securities}}</ref> It is India's largest [[Downstream oil industry|downstream]] oil company, a turnover of ₹4,87,152 crore and a net profit of 19,313 crore after taxes for the financial year 2019-20.<ref>{{cite web|title=Annual Report 2019-20|url=https://www.iocl.com/download/IndianOil-Annual-Report-2019-20.pdf|url-status=live|archive-url=|archive-date=|access-date=27 May 2021|website=IOC - official website|publisher=Indian oil corporation}}</ref>

Indian Oil's business interests overlap the entire [[hydrocarbon]] value-chain, including [[refining]], pipeline transportation, marketing of petroleum products, exploration and production of [[crude oil]], [[natural gas]] and [[petrochemical]]s.<ref>{{Cite web|url=https://www.reuters.com/finance/stocks/companyProfile/IOC.NS|title=${Instrument_CompanyName} ${Instrument_Ric} Profile {{!}} Reuters.com|last=Editorial|first=Reuters|website=U.S.|language=en-US|access-date=17 September 2017}}</ref>

Indian Oil has ventured into [[alternative energy]] and globalisation of downstream operations. It has subsidiaries in Sri Lanka (Lanka IOC),<ref>{{Cite web|url=https://www.iocl.com/AboutUs/GroupCompanies(LIOC).aspx|title=IndianOil Corporation {{!}} Lanka IOC PLC|website=www.iocl.com|access-date=17 September 2017|archive-url=https://web.archive.org/web/20170916142148/https://www.iocl.com/AboutUs/GroupCompanies(LIOC).aspx|archive-date=16 September 2017|url-status=live}}</ref> Mauritius (IndianOil (Mauritius) Ltd)<ref>{{Cite web|url=https://www.iocl.com/AboutUs/GroupCompanies(Mauritius).aspx|title=IndianOil Corporation {{!}} IndianOil (Mauritius) Ltd.|website=www.iocl.com|access-date=17 September 2017|archive-url=https://web.archive.org/web/20170916141726/https://www.iocl.com/AboutUs/GroupCompanies(Mauritius).aspx|archive-date=16 September 2017|url-status=live}}</ref> and the [[Middle East]] (IOC Middle East FZE).<ref>{{Cite web|url=https://www.iocl.com/AboutUs/GroupCompanies(MiddleEast).aspx|title=IndianOil Corporation {{!}} Group Companies|website=www.iocl.com|access-date=17 September 2017|archive-url=https://web.archive.org/web/20170916142400/https://www.iocl.com/AboutUs/GroupCompanies(MiddleEast).aspx|archive-date=16 September 2017|url-status=live}}</ref>

In May 2018, IOCL became India's most profitable state-owned company for the second consecutive year, with a record profit of ₹21,346 crores in 2017–18, followed by [[Oil and Natural Gas Corporation]], whose profit stood at ₹19,945 crores.<ref>{{cite news |title=IOC most profitable PSU for 2nd yr in a row; displaces ONGC |url=https://www.indiatoday.in/pti-feed/story/ioc-most-profitable-psu-for-2nd-yr-in-a-row-displaces-ongc-1246700-2018-05-31 |publisher=[[India Today]] |date=31 May 2018 |access-date=31 May 2018 |archive-url=https://web.archive.org/web/20180606074512/https://www.indiatoday.in/pti-feed/story/ioc-most-profitable-psu-for-2nd-yr-in-a-row-displaces-ongc-1246700-2018-05-31 |archive-date=6 June 2018 |url-status=live }}</ref> In February 2020, the company signed a deal with the Russian oil company [[Rosneft]] to buy 140,000 barrels per day of crude in year 2020.<ref>{{Cite news|url=https://www.reuters.com/article/us-india-oil-russia-idUSKBN1ZZ1CD|title=India's IOC signs annual deal on option to buy crude from Russia's Rosneft|date=5 February 2020|work=Reuters|access-date=5 February 2020|language=en}}</ref> By 1 April 2020, IndianOil was in absolute readiness to launch [[Bharat stage emission standards|BS-VI (Bharat Stage VI)]] fuels in all its retail outlets in [[Telangana]] and adopt world-class emission norms.<ref>https://www.livemint.com/auto-news/indian-oil-to-supply-bs-vi-fuels-in-telangana-from-april-1-11583985429610.html</ref>

In January 2021, sales were registered at all time high of 410,000 barrels of oil per day till 26th January, 2021. [[Delek]], [[Qatar Petroleum]], [[Saudi Aramco]] are its largest business partners with [[Abu Dhabi National Oil Company]] and [[National Iranian Oil Company]] signing deals to deliver high production output at end of 2020.

==Operations==
[[File:Indian Oil Corporation sign.jpg|thumb|right|World's highest retail outlet, [[Kaza, Himachal Pradesh|Kaza]], [[Himachal Pradesh]]]]
[[File:Indian Oil Petrol Bunk 06122016.jpg|thumb|right|IOCL Petrol Pump under construction in Khammam]]
[[File:Indian Oil fuel truck on way to Ladakh.jpg|thumb|right|An Indian Oil fuel truck on way to Ladakh]]
[[File:Indian oil chembur1.JPG|thumb|right|A typical IOCL petrol pump in cities of India - [[Chembur]], [[Mumbai]]]]
[[File:Ioc basaveshwaranagar.png|thumb|Indian Oil Petrol Bunk in [[Basaveshwaranagar]], [[Bangalore]] at night]]
[[File:IndianOil Refinery.jpg|thumb|right|An IOCL refinery in [[Bihar]] at night]]
[[File:IndianOil tanker in front of terminal 1C at Mumbai airport.JPG|thumb|right|An Indian Oil tanker in front of terminal 1C of [[Chhatrapati Shivaji Maharaj International Airport]]]]

===Business divisions===

There are seven major business divisions in the organization:
* Refineries Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/Refineries.aspx|title=Refining : Oil and Gas Technology : IndianOil|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170916142315/https://www.iocl.com/AboutUs/Refineries.aspx|archive-date=16 September 2017|url-status=live}}</ref>
* Pipelines Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/Pipelines.aspx|title=Pipelines : Oil and Gas Pipeline : Gas and Oil Energy|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170916141944/https://www.iocl.com/AboutUs/Pipelines.aspx|archive-date=16 September 2017|url-status=live}}</ref>
* Marketing Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/Marketing.aspx|title=Marketing : Oil and Gas Service Companies|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170916141731/https://www.iocl.com/AboutUs/Marketing.aspx|archive-date=16 September 2017|url-status=live}}</ref>
* R&D Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/Research_Development.aspx|title=R & D Centre : Indian Oil|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170701231933/https://www.iocl.com/aboutus/Research_Development.aspx|archive-date=1 July 2017|url-status=live}}</ref>
* Petrochemicals Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/Petrochemicals.aspx|title=Petrochemicals : World Class Petrochemicals|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170916141311/https://www.iocl.com/AboutUs/Petrochemicals.aspx|archive-date=16 September 2017|url-status=live}}</ref>
* Exploration & Production (E&P) Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/e_and_p.aspx|title=Exploration and Production: Oil and Gas Exploration and Production|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170916141352/https://www.iocl.com/AboutUs/e_and_p.aspx|archive-date=16 September 2017|url-status=live}}</ref>
* Explosives and Cryogenics Division<ref>{{Cite web|url=https://www.iocl.com/AboutUs/Explosives_and_Cryogenics.aspx|title=Exploration and Production: Oil and Gas Exploration and Production|website=www.iocl.com|access-date=18 September 2017|archive-url=https://web.archive.org/web/20170916142129/https://www.iocl.com/AboutUs/Explosives_and_Cryogenics.aspx|archive-date=16 September 2017|url-status=live}}</ref>

=== Products and services ===

Indian Oil accounts for nearly half of India's petroleum products market share, 35% national refining capacity (together with its subsidiary Chennai Petroleum Corporation Ltd., or CPCL), and 71% downstream sector pipelines through capacity. The Indian Oil Group owns and operates 11 of India's 23 <ref>{{cite news |title=India Oil Corporation nears first deal to export fuel to Bangladesh: Sources |url=https://www.thehindubusinessline.com/companies/india-oil-corporation-nears-first-deal-to-export-fuel-to-bangladesh-sources/article31614027.ece |work=@businessline |language=en}}</ref> refineries with a combined refining capacity of 80.7 million [[tonne]]s per year.<ref>{{Cite news|url=https://www.pipeline-conference.com/companies/indian-oil-corporation|title=Indian Oil Corporation|last=Anonymous|date=3 July 2011|work=13th Pipeline Technology Conference|access-date=17 September 2017|language=en|archive-url=https://web.archive.org/web/20170918154418/https://www.pipeline-conference.com/companies/indian-oil-corporation|archive-date=18 September 2017|url-status=live}}</ref> Indian Oil's cross-country pipeline network, for the transport of crude oil to refineries and finished products to high-demand centres, spans over 13,000 km. The company has a throughput capacity of 80.49 million tonnes per year for crude oil and petroleum products and 9.5 million cubic metres per day at [[Standard conditions for temperature and pressure|standard conditions]] for gas. On 19 November 2017, IOCL, in collaboration with [[Ola Cabs|Ola]], launched India's first electric charging station at one of its petrol-diesel stations in Nagpur.<ref>{{Cite news|url=http://www.thehindubusinessline.com/companies/indian-oil-sets-up-indias-first-electric-vehicle-charging-station/article9969318.ece|title=Indian Oil sets up India's first electric vehicle charging station|date=22 November 2017|work=The Hindu BusinessLine|access-date=23 January 2018|archive-url=https://web.archive.org/web/20171122070718/http://www.thehindubusinessline.com/companies/indian-oil-sets-up-indias-first-electric-vehicle-charging-station/article9969318.ece|archive-date=22 November 2017|url-status=live}}</ref> Indian governments’ National Electric Mobility Mission Plan launched in 2013 aims at gradually ensuring a vehicle population of 6 to 8 million electric and hybrid vehicles in India by 2020.<ref>{{cite web|title=National Electric Mobility Mission Plan|url=http://pib.nic.in/newsite/PrintRelease.aspx?relid=116719|website=Government of India Press Information Bureau|access-date=17 March 2018|date=10 March 2015|archive-url=https://web.archive.org/web/20180317232413/http://pib.nic.in/newsite/PrintRelease.aspx?relid=116719|archive-date=17 March 2018|url-status=live}}</ref>

Servo is the lubricants brand under which IOCL operates its lubricant business. Servo is the largest selling lubricant brand in both automotive and industrial segments.

It is said that deals with [[Royal Dutch Shell]] and [[Surgutneftegas]] and [[Chevron Corporation]] have signed exclusive business plans for supply in Asia with [[Indian Oil Company]] worth 20 billion Dollars per year.

=== Refinery locations ===

*[[Barauni Refinery]]
*[[Bongaigaon Refinery]]
*[[Chennai Petroleum Corporation|CPCL, Chennai]]
*[[Nagapattnam Refinery|CPCL, Narimanam]]
*[[Digboi Refinery]]
*[[Guwahati Refinery]]
*[[Haldia Refinery]]
*[[Gujarat Refinery|Koyali Refinery]]
*[[Mathura Refinery]]
*[[Panipat Refinery]]
*[[Paradip Refinery]]

=== Pipelines ===
*Salaya - Mathura crude oil pipeline
*Mundra - Panipat crude oil pipeline
*Paradip-Haldia-Barauni crude oil pipeline
*[[Kandla–Bhatinda Oil Pipeline]]
*Koyali - Mohanpura product pipeline
*Koyali - Ahmedabad product pipeline
*Guwahati - Siliguri product pipeline
*Barauni - Kanpur product pipeline
*Haldia - Mourigram - Rajbandh product pipeline
*Haldia - Barauni product pipeline
*Panipat - Jalandhar LPG pipeline
*Dadri - Panipat R-LNG pipeline
*Koyali - Ratlam product pipeline
*Koyali - Dahej/ Hazira product pipeline
*Panipat - Bhatinda product pipeline
*Panipat - Rewari product pipeline
*Panipat - Ambala - Jalandhar product pipeline
*Mathura - Delhi product pipeline
*Mathura - Bharatpur product pipeline
*Mathura - Tundla product pipeline
*Chennai - Trichy - Madurai product pipeline
*Chennai - Bangalore product pipeline
*Chennai ATF pipeline
*Bangalore ATF pipeline
*Kolkata ATF pipeline
*Paradip - Raipur - Ranchi product pipeline
*Jaipur Panipat Naphtha Pipeline
*Paradip - Hyderabad product pipeline
*Paradip-Haldia-Durgapur LPG Pipeline

== Foreign subsidiaries<ref>{{Cite web|title=IndianOil Group Companies : Oil and Gas Industry|url=https://iocl.com/AboutUs/GroupCompanies_JVs.aspx|access-date=2021-05-27|website=iocl.com}}</ref> ==

* IndianOil (Mauritius) Limited
* IOC Middle East FZE, UAE
*Lanka IOC PLC, Sri Lanka
*IOC Sweden AB, Sweden
*IOCL (USA) Inc., USA
*IndOil Global B.V. Netherlands
*IOCL Singapore Pte. Ltd.

== Employees ==

[[File:The Sky is the Limit - IOC heigth 6.3m 2010 photo by BalanNambiar.JPG|thumb|right|A sculpture on the premises of IOCL Corporate Office, New Delhi, India]]

As of 31 March 2020, the company had 33,498 employees, out of which 2735 were women (8.25%). Its workforce includes 17,704 executives and 15,794 non-executives .<ref name="AR201213">{{cite web|title=IOCL Management Discussions|url=http://www.bseindia.com/bseplus/AnnualReport/530965/5309650313.pdf|url-status=live|archive-url=|archive-date=|access-date=|publisher=BSE India}}</ref> The attrition rate in Indian Oil is around 1.5%.<ref>{{cite web |url=http://hightea.timesjobs.com/candidate/chatTranscript.html?chatId=178 |title=HighTea Chat Transcript with Mr. Biswajit Roy: GM (HRD), Indian Oil Corporation |publisher=Times Jobs |date=22 January 2014 |access-date=26 January 2014}}</ref> The company spent ₹96.57 billion on employee benefits during the FY 2016–17.<ref name=AR201213/>

== Listing and shareholding ==

Indian Oil's [[Common stock|equity shares]] are listed on the [[Bombay Stock Exchange]] and [[National Stock Exchange of India]].<ref>{{cite web |url=http://economictimes.indiatimes.com/indian-oil-corporation-ltd/infocompanylisting/companyid-11924.cms |title=Listing Information – Indian Oil Corporation Limited |publisher=Economic Times |access-date=27 January 2014 |archive-url=https://web.archive.org/web/20140227185053/http://economictimes.indiatimes.com/indian-oil-corporation-ltd/infocompanylisting/companyid-11924.cms |archive-date=27 February 2014 |url-status=live }}</ref>

As of September 2018, it was owned 57% by the Government of India (through the [[President of India]]), and 43% by other entities. The latter included corporate bodies (20%), [[ONGC]] (14%), [[Life Insurance Corporation|LIC]] (6%), Foreign portfolio investors,(6%)<ref>https://rbidocs.rbi.org.in/rdocs/notification/PDFs/71APDIR030215.pdf</ref> [[Oil India Limited]] (5%) and [[ICICI Prudential Mutual Fund|Indian Mutual funds]] (4%).<ref>{{cite web |title=Share holding pattern 30 September 2018 |url=https://iocl.com/download/LODR-SHP(2018-09-30).pdf |website=IOC Official website |publisher=IOC |access-date=11 October 2018 |archive-url=https://web.archive.org/web/20181011133503/https://iocl.com/download/LODR-SHP(2018-09-30).pdf |archive-date=11 October 2018 |url-status=live }}</ref>

This was similar to its shareholding in 2017. As of 31 December 2017, the [[Corporate promoter|Promoters]] [[Government of India]] held approx. 56.98% of the shares in Indian Oil Corporation. The public held the rest 43.02% of the shares - this includes Mutual Fund Companies, Foreign Portfolio Investors, Financial Institutions/ Banks, Insurance Companies, Individual Shareholders and Trusts.<ref>{{Cite web|url=https://www.iocl.com/download/LODRSHP-(2017-12-31).pdf|title=Indian Oil Corporation {{!}} Shareholding Pattern|date=31 December 2017|website=www.iocl.com|access-date=25 February 2018|archive-url=https://web.archive.org/web/20180225205537/https://www.iocl.com/download/LODRSHP-(2017-12-31).pdf|archive-date=25 February 2018|url-status=live}}</ref>

{| class="wikitable"
|-
! Shareholders (as on 31-March-2020)<ref>{{Cite web|date=31 March 2021|title=Indian Oil Corporation {{!}} Shareholding Pattern|url=https://economictimes.indiatimes.com/indian-oil-corporation-ltd/shareholding/companyid-11924.cms|url-status=live|archive-url=|archive-date=|access-date=|website=}}</ref>!! Shareholding
|-
| Promoter Group ([[Government of India|President of India]])||51.50%
|-
| Central Government ||0.11%
|-
|Foreign Institutional Investors
|5.81%
|-
|Mutual Funds
|4.66%
|-
|General Public
|6.01%
|-
|Financial Institutions
|8.32%
|-
|Others
|23.59%
|-
| Total||100.0%
|}

== Strategic partnerships ==

=== IOC Phinergy Pvt Ltd ===
Indian Oil Corporation (IOC) buys a stake in [[Phinergy]] ([[Israel]]) for manufacturing, development, and sale of [[Aluminium-air batteries|aluminum-air batteries]] (Al-Air batteries) for [[electric vehicle]]s. This joint venture is ready to facilitate the development of Al-Air technology by intending to set up a factory in India.<ref>https://energy.economictimes.indiatimes.com/news/oil-and-gas/indianoil-buys-stake-in-phinergy-of-israel-for-manufacturing-of-aluminium-air-batteries/73935714</ref>

== Competition ==

Indian Oil Corporation has two major domestic competitors - [[Bharat Petroleum]] and [[Hindustan Petroleum]] - and both are state-controlled, like Indian Oil Corporation. Major private competitors include - [[Reliance Petroleum]], [[Essar Oil]] & [[Royal Dutch Shell|Shell]].

== Oil Industry Development Board ==

India has begun the development of a strategic crude oil reserve sized at {{convert|37.4|Moilbbl|m3}}, enough for two weeks of consumption.<ref>{{cite web |url=http://www.gasandoil.com/goc/news/nts43834.htm |title=Alexander's Gas & Oil Connections – India to build up storage of crude oil |publisher=Gasandoil.com |date=21 September 2004 |access-date=26 August 2010 |archive-url=https://web.archive.org/web/20090418001150/http://www.gasandoil.com/goc/news/nts43834.htm |archive-date=18 April 2009 |url-status=dead }}</ref> Petroleum stocks have been transferred from the Indian Oil Corporation to the Oil Industry Development Board (OIDB).<ref>{{cite web |url=http://www.thehindubusinessline.com/2006/04/02/stories/2006040202220200.htm |title=Strategic oil reserves to come directly under Govt |publisher=The Hindu Business Line |date=2 April 2006 |access-date=26 August 2010 |archive-url=https://web.archive.org/web/20090212181220/http://www.thehindubusinessline.com/2006/04/02/stories/2006040202220200.htm |archive-date=12 February 2009 |url-status=live }}</ref> The OIDB then created the Indian Strategic Petroleum Reserves Ltd (ISPRL) to serve as the controlling government agency for the strategic reserve.<ref>{{cite web |url=http://economictimes.indiatimes.com/India_to_form_crude_oil_reserve_of_5_mmt/articleshow/2137148.cms |title='India to form crude oil reserve of 5 mmt'- Oil & Gas-Energy-News By Industry-News-The Economic Times |publisher=Economictimes.indiatimes.com |date=20 June 2007 |access-date=26 August 2010 |archive-url=https://www.webcitation.org/65GuVP1JU?url=http://economictimes.indiatimes.com/India_to_form_crude_oil_reserve_of_5_mmt/articleshow/2137148.cms |archive-date=7 February 2012 |url-status=live }}</ref>

== See also ==
{{Portal|Companies|Energy}}
* [[List of companies of India]]
* [[List of largest companies by revenue]]
* [[List of corporations by market capitalization]]
* [[Make in India]]
* [[Forbes Global 2000]]
* [[Fortune India 500]]
*[[Rajiv Gandhi Institute of Petroleum Technology]]<ref>{{cite web|url=http://www.topnews.in/sonia-lay-foundation-rajiv-gandhi-petroleum-institute-rae-bareli-221339|title=Sonia to lay foundation for Rajiv Gandhi Petroleum Institute in Rae Bareli - TopNews|website=www.topnews.in|access-date=20 October 2016|archive-url=https://web.archive.org/web/20180509151043/https://www.topnews.in/sonia-lay-foundation-rajiv-gandhi-petroleum-institute-rae-bareli-221339|archive-date=9 May 2018|url-status=live}}</ref>
*[[Indane (LPG)]]

== References ==
{{reflist|2}}

== External links ==
* {{official}}

{{Public Sector Undertakings in India}}
{{Nifty 200 companies}}
{{Energy Ministries and Departments of India|state=collapsed}}
{{Energy companies and organizations in India|state=collapsed}}
{{S&P CNX Nifty companies}}

{{authority control}}

[[Category:Indian Oil Corporation| ]]
[[Category:Oil and gas companies of India]]
[[Category:Government-owned companies of India]]
[[Category:Companies based in Delhi]]
[[Category:Non-renewable resource companies established in 1964]]
[[Category:Indian companies established in 1964]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:NIFTY 50]]
[[Category:National oil and gas companies]]
[[Category:1964 establishments in Delhi]]

Indian Oil Corporation - Revision history

ErlindaLamson9 at 14:48, 26 March 2026

CleanupBot II: Removed empty portal template using script

223.176.0.189 at 15:45, 9 July 2021

← Older revision		Revision as of 06:40, 14 August 2023
Line 188:		Line 188:

	== See also ==		== See also ==
	~~{{Portal\|Companies\|Energy}}~~
	* [[List of companies of India]]		* [[List of companies of India]]
	* [[List of largest companies by revenue]]		* [[List of largest companies by revenue]]