Indian Oil Corporation Limited
What company does?Oil and gas exploration, production, refining, distribution, marketing and petrochemicals.
Established1959
Entity typeGovernment
HeadquartersIndia
SegmentB2B,B2C
Indian Oil Corporation Limited is a share market listed company
in the Refineries & Marketing industry
.
It got listed on NSE on 24-JUL-1996 under the trading symbol IOC.
On BSE it is listed under trading symbol IOC.
The company operates in
Oil & Gas
,
Energy
and
Petrochemicals
categories.
Company overview
Indian Oil Corporation Limited (IOCL) is India's largest commercial enterprise, with a sales turnover of $85.5 billion and profits of $2.4 billion in the fiscal year 2020-21. It operates one of Asia's largest networks of refineries, pipelines, marketing, and distribution infrastructure.
IOCL is involved in refining, transportation and marketing of petroleum products like petrol, diesel, LPG etc., as well as petrochemicals.
The company has been at the forefront of adopting innovative technologies to improve its operations efficiency and reduce environmental impact. IOCL has also ventured into renewable energy sources such as wind power and biofuels production. One aspect that makes Indian Oil Corporation stand out from its competitors is its extensive reach across the country - it owns 11 out of India’s 23 refineries which contributes to a significant market advantage for their oil-based products.The company collaborates with global players for technological advancements; it partnered with Phinergy from Israel to develop ultra-lightweight metal-air batteries for electric vehicles in an effort to diversify into cleaner energy solutions.
Additionally, IOCL has established joint ventures with other major international companies including Lubrizol USA for manufacturing specialty chemicals used in lubricants industry.