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Indian Oil Corporation Ltd.

BSE: 530965 Sector: Oil & Gas
NSE: IOC ISIN Code: INE242A01010
BSE LIVE 15:51 | 21 Aug 412.90 -13.90
(-3.26%)
OPEN

433.00

HIGH

438.00

LOW

410.40

NSE 15:59 | 21 Aug 413.20 -14.15
(-3.31%)
OPEN

433.90

HIGH

438.00

LOW

411.35

OPEN 433.00
PREVIOUS CLOSE 426.80
VOLUME 450183
52-Week high 450.65
52-Week low 269.58
P/E 13.03
Mkt Cap.(Rs cr) 200,500
Buy Price 0.00
Buy Qty 0.00
Sell Price 412.90
Sell Qty 141.00
OPEN 433.00
CLOSE 426.80
VOLUME 450183
52-Week high 450.65
52-Week low 269.58
P/E 13.03
Mkt Cap.(Rs cr) 200,500
Buy Price 0.00
Buy Qty 0.00
Sell Price 412.90
Sell Qty 141.00

Indian Oil Corporation Ltd. (IOC) - Company History

Indian Oil Corporation Ltd (IndianOil) is India's flagship national oil company with business interests straddling the entire hydrocarbon value chain - from refining pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas marketing of natural gas and petrochemicals. The company is the leading Indian corporate in the Fortune 'Global 500' listing ranked at the 98th position in the year 2011.The company's operations include refineries pipelines and marketing. Their portfolio of brands includes Indane LPGas SERVO lubricants XTRAPREMIUM petrol and XTRAMILE diesel and Propel Petrochemicals. In exploration and production IndianOil's domestic portfolio includes 11 oil and gas blocks and two coal bed methane blocks while the overseas portfolio consists of 10 blocks spread across Libya Iran Gabon Nigeria Timor-Leste Yemen and Venezuela. Indian Oil Corporation Ltd was established in the year 1959 as Indian Oil Company Ltd. In the year 1964 Indian Refineries Ltd merged with Indian Oil Corporation Ltd. Indian Oil Blending Ltd a wholly owned subsidiary was merged with IndianOil on May 2006. The company transferred their entire equity holding in Indian Strategic Petroleum Reserves Ltd (ISPRL) to the Oil Industry Development Board a government body functioning under the Ministry of Petroleum & Natural Gas. Consequently ISPRL ceased to be a wholly owned subsidiary in May 2006. The company formed one subsidiary company namely IOC Middle East FZE in Jebel Ali Free Trade Zone Dubai with the objective of marketing lubricants and other petroleum products in Middle East Africa and CIS regions. In June 2006 they incorporated a joint venture company namely Indo-Cat Pvt Ltd with Intercat.Inc of USA for manufacture and marketing of FCC catalysts and additives.In the year 2007 the company received plenty of awards Oil Industry Safety Directorate Awards Most Admired Retailer of the Year award CIO 100 Award 2007 SAP ACE - Awards for Customer Excellence and the only petroleum company as The Most Trusted Brand in ET's Brand Equity's annual survey. The SERVO acquires prestigious MAN Global approvals IndianOil's R&D Centre gets special recognition for Bioremediation and also SERVO secures entry into NSF White Book - H1 Category during the period. The company won Retailer of the Year - Rural Impact Award and their XtraPower won Loyalty Summit Award during the year 2008.In January 2008 the company and Hindustan Unilever Ltd (HUL) signed an MoU for setting up Kwality Walls Kiosks at select IndianOil petrol stations across the country. Also the company entered into an MoU with Transparency International India (TII) for implementing an Integrity Pact Programme focused on enhancing transparency in their business transactions contracts and procurement processes. In April 2008 the company launched LNG at Doorstep facility at the Pen unit of H&R Johnson the facility first of their kind in the country wich are primarily aimed at catering to the needs of Liquefied Natural Gas (LNG) customers who are not located on the main natural gas pipelines. The company was conferred with the 'Maharatna' status by the Government of India which provides enhanced autonomy and larger flexibility for its operation.During the year 2009-10 the company commissioned 238 new retail outlets and 414 Kisan Seva Kendra (KSK) outlets taking their total tally to 18643. The company's Indane LPG brand earned the coveted status of Superbrand. On the lines of KSK the Rajiv Gandhi Grameen LPG Vitarak Yojana was launched to penetrate rural markets. During the year the company was granted the Petroleum Exploration License for one of the two Type-S blocks in Cambay basin for which it is the operator. Upon getting the license exploration activities were initiated in the block. The company was awarded a project for the development extraction upgradation and marketing of heavy oil in Carabobo heavy oil region of Venezuela in consortium with Repsol Petronas ONGC Videsh Ltd. and Oil India Ltd.During the year 2010-11 the company enrolled about 46.8 lakh new Indane LPG customers and commissioned 245 new Indane distributors taking their total to 618.3 lakh and 5311 respectively. The LPG Bottling capacity was enhanced to 5518 TMTPA with capacity addition of 326 TMT. In order to provide LPG to rural India the company commissioned 145 distributors under the Rajiv Gandhi Gramin LPG Vitaran Yojana under the auspices of Ministry of Petroleum & Natural Gas. As a part of their CSR activity 10052 new connections were released to BPL families.During the year the company formed a joint venture company was formed with Nuclear Power Corporation of India Ltd (NPCIL) for setting up Nuclear power plants. In July 2010 the company commissioned their first gas pipeline between Dadri and Panipat and thus they commenced gas supplies to Panipat Refinery. In a bid to scale up their gas infrastructure a 5 MMTPA LNG Import & Re-gassification Terminal Project was planned at Ennore Tamil Nadu. This LNG Terminal would be the first of its kind on the East coast of India. Furthermore in consortium with GSPC HPCL and BPCL the company won gas pipeline bids for Mallavaram to Bhilwara and Vijaypur via Bhopal Mehsana to Bhatinda and Bhatinda to Jammu and Srinagar.In 2012 Oil India Limited (OIL) and Indian Oil Corporation (IOCL) have jointly acquired a stake in Carrizo's liquid rich shale assets in the Niobrara basin in Colorado USA. IndianOil (IOC) also launched a new engine oil SERVO 4T SYNTH with advanced synthetic chemistry for use by two-wheelers. Petroleum & Natural Gas and Corporate Affairs launched IndianOil's Mobile Healthcare Scheme a Corporate Social Responsibility (CSR) initiative of IndianOil. Indian Oil Corporation's (IndianOil) Rural Mobile Health Scheme (Sachal Swasthya Seva) launched as part of its corporate social responsibility (CSR) agenda was formally inaugurated on all-India basis. IndianOil India's largest commercial enterprise and the highest ranked Indian company in the Fortune `Global 500'listing has bagged the coveted Corporate Sustainability Vision Award 2012.In 2013 IOC planned for capacity expansion at Doimukh depot and also IOCL inked MoU for Rs 5-k cr natural gas terminal in OdishaIn 2014 IndianOil conferred SCOPE Meritorious Award for CSR and Responsiveness by the Hon'ble President of India. IndianOil R&D also wins National Awards for Technology Innovation -IndianOil wins BML Munjal Award for Business ExcellenceIn 2015 Indian Oil Corporation commenced construction work on its proposed 4 MW solar power project at Muttam village in the district. IOC also inked MoU with Nepal Oil Corporation.