Indian Oil Corporation
Indian Oil Corporation Limited (IOCL or IOC; doing business as IndianOil) is an Indian oil and gas company under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. Headquartered in New Delhi, it is a public sector undertaking whose operations are overseen by the Ministry of Petroleum and Natural Gas. Indian Oil is ranked 94th on the Fortune Global 500 list of the world's biggest corporations as of 2022. It is the largest government owned oil producer in the country both in terms of capacity and revenue. It has consolidated refining capacity of 80.55MMTPA which it intends to increase to 107MMTPA by 2024-25. As of 31 March 2021, Indian Oil's employee strength is 31,648, out of which 17,762 are executives and 13,876 non-executives, while 2,776 are women, comprising 8.77% of the total workforce.
| Company type | Central Public Sector Undertaking |
|---|---|
Traded as | |
| ISIN | INE242A01010 |
| Industry | Energy: Oil and gas |
| Predecessor |
|
| Founded | 30 June 1959 |
| Headquarters |
|
Area served | India, Sri Lanka, Middle East, Mauritius & Worldwide |
Key people | Shrikant Madhav Vaidya (Chairman) |
| Products |
|
| Revenue | ₹955,608.86 crore (US$120 billion) (2023) |
| ₹81,320.50 crore (US$10 billion) (2024) | |
Net income | ₹48,514.12 crore (US$6.1 billion) (2024) |
| Total assets | ₹457,623.09 crore (US$57 billion) (2024) |
| Total equity | ₹143,214.34 crore (US$18 billion) (2023) |
| Owner | Ministry of petroleum, Government of India |
Number of employees | 30,439 (2024) |
| Divisions |
|
| Subsidiaries |
|
| Website | www |
Indian Oil's business interests overlap the entire hydrocarbon value chain, including refining, Pipeline, marketing of petroleum products, exploration and production of Petroleum, natural gas and petrochemicals. Indian Oil has ventured into renewable energy and globalisation of downstream operations. It has subsidiaries in Sri Lanka (Lanka IOC), Mauritius (IndianOil (Mauritius) Ltd) and the Middle East (IOC Middle East FZE).