Indian Oil Corporation (IOC) is India’s flagship national oil company with its business interests spanning the entire hydrocarbon value chain – from refining, pipeline transportation and marketing of petroleum products to exploration and production of crude oil and gas and marketing of natural gas and petrochemicals. It is the leading Indian corporate in the Fortune ‘Global 500’ listing, ranked at the 96th position in the year 2014.
- Indian Oil is scouting for new business opportunities in the energy markets of Asia and Africa
- It has over 34,000 strong workforce
- Indian Oil closed the year 2013-14 with a sales turnover of Rs 4575.53 billion
- It owns and operates 10 of India’s 22 refi neries with a combined refi ning capacity of 65.7 Million Metric Tonnes Per Annum
BLAZE TO BRILLIANCE
At Indian Oil, 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, IOC is currently forging ahead on a well laid out road map through vertical integration— upstream into oil exploration and production (E&P) and downstream into petrochemicals – and diversification into natural gas marketing and alternative energy, besides globalisation of its downstream operations.
With over 34,000 strong workforce, Indian Oil has been helping to meet India’s energy demands for over half a century. With a corporate vision to be the ‘Energy of India’, Indian Oil closed the year 2013- 14 with a sales turnover of Rs 4,575.53 billion and profits of Rs 70.19 billion Indian OiI has forayed into alternative energy options such as wind, solar, bio-fuels and nuclear power. A 21 MW wind power project is operational in the Kutch district of Gujarat. The solar power initiative is being spearheaded on a pilot basis in Orissa, Karnataka and the North-East and a pan-India phased rollout is underway.
ENGAGEMENT THAT ENTHRALS
Having set up subsidiaries in Sri Lanka, Mauritius and the United Arab Emirates (UAE), Indian Oil is simultaneously scouting for new business opportunities in the energy markets of Asia and Africa. Indian Oil’s cross-country network of crude oil and product pipelines spans 11,214 km with a capacity of 77.258 MMTPA of crude oil and petroleum products and 10 MMSCMD of gas. It owns and operates 10 of India’s 22 refineries with a combined refining capacity of 65.7 Million Metric Tonnes Per Annum.
Indian Oil has a sprawling world-class R&D centre that is perhaps Asia’s finest. It conducts pioneering work in lubricants formulation, refinery processes, pipeline transportation and alternative fuels, and is also the nodal agency of the Indian hydrocarbon sector for ushering in hydrogen fuel economy in the country. The Bio- Energy Research Centre has signed an agreement with Lanzatech to develop micro-algae technology which entails development of an acetate-to-lipid pathway and evaluation of its viability for CO2 gas fermentation technology.
Indian Oil Corporation is poised to become an integrated energy company with facilities at multiple locations and ever-expanding market opportunities. As the flagship public sector enterprise of India, Indian Oil has also successfully combined its corporate social responsibility agenda with its business offerings, meeting the energy needs of millions of people every day across the country.