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indian oil corp ltd (IOC) Details

Indian Oil Corporation Limited, together with its subsidiaries, is engaged in refining, transporting, and marketing petroleum products in India. It is also involved in the exploration and production of crude oil and gas; and marketing of natural gas and petrochemicals. The company’s products include LPG, natural gas, petrol/gasoline, diesel/gas oil, aviation turbine fuel/jet fuel, lubricants and greases, marine fuels and lubricants, kerosene, bulk/industrial fuels, bitumen, petrochemicals, and crude oil. In addition, it offers special products, such as benzene, carbon black feed stock, food grade hexane, jute batching oil, micro crystalline wax, mineral turpentine oil, paraffin wax, propylene, raw petroleum coke, sulphur, and toluene. The company operates approximately 10 refineries; a network of 11,214 kilometers crude oil, products, and gas pipelines; 23,993 petrol and diesel stations, including 6,002 Kisan Seva Kendras in the rural markets; 98 aviation fuel stations and 90 LPG gas bottling plants; and approximately 6,300 bulk consumer pumps in 3,130 markets, as well as has a network of 7,035 LPG distributors. Indian Oil Corporation Limited’s exploration and production portfolio comprises nine oil and gas blocks and two coal bed methane blocks in India; and nine blocks in Libya, Iran, Gabon, Nigeria, Timor-Leste, Yemen, and Venezuela. Further, it is engaged in the explosives and cryogenic businesses; wind mill and solar power generation activities; lube blending and marketing of petroleum products; and plantation of Jatropha, and extraction of oil for bio-diesels. The company also exports its products. It serves consumer, industrial, and marine, as well as domestic and international flag carriers, private airlines, and the Indian defense services sectors. The company was founded in 1959 and is based in New Delhi, India.

33,793 Employees
Last Reported Date: 08/4/14
Founded in 1959

indian oil corp ltd (IOC) Top Compensated Officers

Director of Pipelines, Whole-Time Director, M...
Total Annual Compensation: 2.9M
Director of Marketing, Whole-Time Director, M...
Total Annual Compensation: 4.3M
Compensation as of Fiscal Year 2014.

indian oil corp ltd (IOC) Key Developments

Indian Oil Corporation Ltd Appoints A. K. Sharma as Director (Finance)

Indian Oil Corporation Ltd. announced that Shri A. K. Sharma has been appointed as Director (Finance) of the company with effect from October 27, 2014.

SFU Furthers Collaboration with Indian Oil on Hydrogen and Fuel Cell Tech Research

Simon Fraser University and Indian Oil Corporation (IOC) Ltd., furthered the collaboration they announced earlier this year with the signing of a Memorandum of Understanding in New Delhi. The signing took place during the B.C. Premier's India Mission and builds on an agreement between SFU and IOC to partner on hydrogen and fuel cell research. The research will focus particularly on clean energy technology and advanced materials. Under the arrangement, Indian Oil is providing a fellowship towards the SFU PhD program which will allow Indian citizens to spend one year at SFU and a further three years at Indian Oil's R&D Centre. SFU will provide a stipend and tuition award during the year at SFU.

Indian Oil Corporation and Celanese Corporation Agree to Explore World-Scale TCX(R) Fuel Ethanol Plant in India

Indian Oil Corporation (IOCL) and Celanese Corporation signed an MOU (memorandum of understanding) on October 1 to explore the potential of a joint investment in a fuel ethanol plant to be built in India, based on Celanese's TCX(R) Technology. The project is expected to be located at Paradip in Odisha State of India and will utilize petroleum coke (petcoke) from Indian Oil's refineries as the key feedstock. Other potential locations will also be investigated. The potential investment would create significant value addition by converting petcoke, a by-product in the refining process, to a low-cost, high-octane and clean-burning gasoline blending component (ethanol) and potentially other co-product petrochemical derivatives.

 

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