Indian Oil Corporation

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For the America-based oil company, see Indian Refining Company.
Indian Oil Corporation Limited
Public
Traded as BSE: 530965
NSE: IOC
Industry Oil and Gas
Founded 1959
Headquarters New Delhi, India
Key people
 Mr. B. ASHOK (Chairman)
Products Fuels, lubricants, petrochemicals
Revenue ₹445,526 crore (US$66 billion) (2015)[1]
₹10,550 crore (US$1.6 billion) (2015)[1]
₹4,871 crore (US$720 million) (2015)[1]
Total assets ₹128,059 crore (US$19 billion) (2015)[1]
Owner Government of India (58.57%)
Number of employees
 32,962 (31 March 2015)[1]
Website www.iocl.com

Indian Oil Corporation Limited, or Iocl, is an Indian state-owned oil and gas corporation with its headquarters in New Delhi, India. It is the world's 119th largest corporation, according to the Fortune Global 500 list, and the largest public corporation in India when ranked by revenue.[2]

IndianOil and its subsidiaries account for a 49% share in the petroleum products market, 31% share in refining capacity and 67% downstream sector pipelines capacity in India. The IndianOil Group of companies owns and operates 10 of India's 22 refineries with a combined refining capacity of 65.7 million metric tonnes per year. In FY 2012 IOCL sold 75.66 million tonnes of petroleum products and reported a PBT of ₹37.54 billion, and the Government of India earned an excise duty of ₹232.53 billion and tax of ₹10.68 billion.

The company is mainly controlled by Government of India which owns approximately 58.57% shares in the company.[3] It is one of the seven Maharatna status companies of India, apart from Coal India Limited, NTPC Limited, Oil and Natural Gas Corporation, Steel Authority of India Limited, Bharat Heavy Electricals Limited and Gas Authority of India Limited.[4]

Products and services

IndianOil service station in Pipili, Odisha

The main products of IndianOil are petrol, diesel, LPG, auto LPG, aviation turbine fuel, lubricants and petrochemicals: naphtha, bitumen, kerosene etc.

Indian Oil truck carrying fuel across the Himalayas
Indian Oil truck at North Pullu, entrance to Nubra Valley, Ladakh. 2010

Refineries

IOCL has various refineries across India.

International rankings

  • IndianOil is the highest ranked Indian company in the Fortune Global 500 listing, at the 119th position in 2013. It is also the 18th largest petroleum company in the world and the No. 1 petroleum trading company among the national oil companies in the Asia-Pacific region.
  • IOCL was featured on the 2011 Forbes Global 2000 at position 243.
  • It is the fifth most valued brand in India according to an annual survey conducted by Brand Finance and The Economic Times in 2010.[7]

Employees

As of 31 March 2013, the company had 34,084 employees, out of which 2643 were women (7.8%). Its workforce includes 14,981 officers.[8] The attrition rate in IndianOil is around 1.5%.[9] The company incurred INR 78 billion on employee benefits during the FY 2012-13.[8]

Listing and shareholding

IndianOil's equity shares are listed on the Bombay Stock Exchange and National Stock Exchange of India.[10]

As of 23 August 2015, the promoters Government of India held approx. 58.57% of the shares in IndianOil. ONGC held approx. 9% of the shares. Remaining 12% of the shares are held by others.[11] On 23 August 2015, the Government of India reduced its stake by another 10% bringing the number shares held to 58.57%.[12]

Shareholders (as on 23-August-2015) Shareholding[11]
Promoter Group (Government of India) 58.57%
private single body 40.13%
Insurance Companies 01.50%
Individual shareholders 0.83%
Trusts 0.42%
Foreign Institutional Investors (FII) 0.13%
Others 0.07%
Total 100.0%

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.

Oil Industry Development Board

India has begun the development of a strategic crude oil reserve sized at 37.4 million barrels (5,950,000 m3), enough for two weeks of consumption.[13] Petroleum stocks have been transferred from the Indian Oil Corporation (IndianOil) to the Oil Industry Development Board (OIDB).[14] The OIDB then created the Indian Strategic Petroleum Reserves Ltd (ISPRL) to serve as the controlling government agency for the strategic reserve.[15]

References

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External links

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  3. ↑ https://www.iocl.com/download/Clause_35_Shareholding_Pattern_31_03_2014.pdf
  4. ↑ List of Maharatna, Navratna and Miniratna CPSEs |. Dpe.nic.in. Retrieved on 2013-07-28
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