Indian Oil Corporation


Indian Oil Corporation Limited , commonly known as IndianOil is an Indian government-owned oil and gas company headquartered in New Delhi. It is the largest commercial oil company in the country, with a net profit of INR 19,106 crore for the financial the year 2016–17. It is ranked 1st in Fortune India 500 list for year 2016 and 117th in Fortune Global 500 list of world's largest companies in the year 2019. As of 31 March 2017 IndianOil's employee strength is 33,135, out of which 16,545 are in the officer cadre. It is India's largest downstream oil company, with a workforce of more than 33,000 employees, a turnover of Rs. 506,428 crore and a net profit of Rs. 21,346 crore in 2017–18.
IndianOil'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 petrochemicals.
IndianOil has ventured into alternative energy and globalisation of downstream operations. It has subsidiaries in Sri Lanka, Mauritius and the Middle East.
In May 2018, IOCL become 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. In February 2020, the company signed a deal with the Russian oil company Rosneft to buy 40,000 barrels per day of crude in year 2020. From April 1, 2020, The Indian Oil is in absolute readiness to launch BS-VI fuels in all its retail outlets in Telangana and adopt world-class emission norms.

Operations

Business Divisions

There are seven major Business Divisions in the organisation:
Indian Oil accounts for nearly half of India's petroleum products market share, 35% national refining capacity, and 71% downstream sector pipelines through capacity. The Indian Oil Group owns and operates 11 of India's 23 refineries with a combined refining capacity of 80.7 million tonnes per year. 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 metre per day at standard conditions for gas.
On 19 November 2017, IOC, in collaboration with Ola, launched India's first electric charging station at one of its petrol-diesel stations in Nagpur. 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.
Servo is the Lubricants brand under which IOCL operates its Lubricant business. Servo is the Largest selling Lubricant Brand in both Automotive & Industrial segments.

Refinery locations

As of 31 March 2017, the company had 33,135 employees, out of which 2735 were women. Its workforce includes 16,545 officers. The attrition rate in Indian Oil is around 1.5%. The company incurred INR 96.57 Billion on employee benefits during the FY 2016–17.

Listing and shareholding

Indian Oil's equity shares are listed on the Bombay Stock Exchange and National Stock Exchange of India.
As of September 2018, it was owned 57% by the Government of India, and 43% by other entities. The latter included corporate bodies, ONGC, LIC, Foreign portfolio investors, Oil India Limited and Indian Mutual funds.
This was similar to its shareholding in 2017. As of 31 December 2017, the 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.
Indian Oil Corporation buys a stake in Phinergy for manufacturing, development, and sale of aluminum-air batteries for electric vehicles. This joint venture is ready to facilitate the development of Al-Air technology by intending to set up a factory in India.
Shareholders Shareholding
Promoter Group 56.98%
Public43.02%
Total100.0%

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 Industries, Essar Oil & Shell.

Oil Industry Development Board

India has begun the development of a strategic crude oil reserve sized at, enough for two weeks of consumption. Petroleum stocks have been transferred from the Indian Oil Corporation to the Oil Industry Development Board. The OIDB then created the Indian Strategic Petroleum Reserves Ltd to serve as the controlling government agency for the strategic reserve.