Indian Oil Corporation (IOC), India’s flagship national oil company and downstream petroleum major, was incorporated on June 30, 1959 as Indian Oil Company. The company was renamed as Indian Oil Corporation on September 1, 1964 following the merger of Indian Refineries (established 1958) with it. IOC is a public limited company incorporated and domiciled in India. Its shares are listed on Bombay Stock Exchange and National Stock Exchange in India. It also has global aspirations, fulfilled to an extent by the formation of overseas subsidiaries. It is pursuing diverse business interests with the setting up of various joint ventures with reputed business partners from India and abroad to explore global opportunities.

Business area of Indian Oil Corporation

Indian Oil Corporation is India’s flagship Maharatna national oil company with business interests straddling the entire hydrocarbon value chain – from refining, pipeline transportation and marketing, to exploration and production of crude oil and gas, petrochemicals, gas marketing, alternative energy sources and globalisation of downstream operations.

Product and services

• Refining
• Pipelines
• Marketing
• R&D Centre – Technology Licensing
• Petrochemicals
• Natural Gas
• E & P
• Explosives
• Cryogenics

Awards

• Indian Oil Corporation has been voted as a ‘Great Place to Work’ for the year 2019. Ranked 29th on the list featuring the country’s business, academia and government organizations.
• Indian Oil Corporation has been ranked as the third strongest Indian brand in the latest annual report of UK-based Brand Finance. Basis its performance on multiple parameters such as marketing investment, stakeholder equity and business performance, the Company has been assigned a Brand Strength Index (BSI) score of 84.6 out of 100, making it the strongest oil & gas brand in the country.
• Indian Oil Corporation bagged the prestigious ‘Vigilance Excellence Award’ of the Central Vigilance Commission for its outstanding vigilance awareness initiatives during 2019.
• Indian Oil Corporation was felicitated with the Super Buyer Award-2019 in December 2019 for excellence in procurement through the Government e-Market Place.
• Indian Oil Corporation was adjudged first amongst PSUs in the 3rd Innovative Practices Awards-2019 for Sustainable Development Goals (SDGs) by the United Nations Global Compact Network-India at a felicitation ceremony held at Mumbai in May 2019.
• Indian Oil Corporation won recognition as the Best PSU/Corporate for promotion of sports at the annual Sportstar Aces Awards-2019.
• Indian Oil Corporation bagged the award for the best company in the Oil (Refining & Marketing) category at Dun & Bradstreet’s Annual Corporate Awards-2019 event held at Mumbai in June 2019.
• Indian Oil Corporation bagged the AIMA Managing India Award-2019 for Outstanding PSU of the Year.
• Indian Oil Corporation’s Corporate Social Responsibility (CSR) efforts received national recognition from the Government of India with the Ministry of Corporate Affairs felicitating select corporates for outstanding CSR initiatives for the very first time.
• IndianOil bagged the Federation of Indian Petroleum Industry’s (FIPI) ‘Sustainably Growing Corporate of the Year’ award for excellence in sustainability performance and benefits extended to society and the environment, at a glittering awards ceremony held at New Delhi in December 2019.
• IndianOil was bestowed with the ‘Company of the Year’ award in petrochemicals category by FICCI (Federation of Indian Chambers of Commerce and Industry) in November 2019.
• IndianOil bagged the Swachhta Pakhwada Awards-2019, an MoP&NG initiative to honour companies that have done exemplary work during the Swachhta Pakhwada fortnight (July 1-15, 2019). IndianOil’s Panipat Refinery bagged the 2nd Best Swachh Refinery Award and IndianOil itself bagged the 3rd prize among undertakings which undertook the best initiatives during the fortnight.
• IndianOil’s AmyleMax technology has won recognition as the Best Indigenously Developed Technology at the Refineries & Petrochemicals Technology Meet-2020 hosted by the Centre for High Technology in April 2019.
• IndianOil and its lubricant brand SERVO have been conferred the Reader’s Digest Trusted Brands (2019) recognition for another successive year in June 19.
• IndianOil was felicitated as the Best Performer in Maharatna category for promotion of SC/ST entrepreneurs during 2019 by the Ministry of Micro, Small and Medium Enterprises, Govt. of India.
• IndianOil bagged the Express Supply Chain & Logistics Award for the ‘Most Humanitarian Supply Chain in POL Sector’ in recognition of its efforts in maintaining rescue supplies during Cyclone Fani on the east coast, floods in Kerala, and the rescue supplies provided to Indonesia in the aftermath of the Tsunami through the NDRF (National Disaster Response Force).
• IndianOil was conferred the ‘Supply Chain and Logistics Excellence Award’ (SCALE Award) by CII (Confederation of Indian Industries) for the best supply chain management in the petroleum sector.
• IATA (International Air Transport Association) honoured IndianOil with Award of Recognition at the Aviation Fuel Forum held in New Orleans, USA, in December 2019.
• Best Swachh Iconic Place (SIP) Award 2019: SIP is a unique initiative of the Government of India, under which over 30 places of religious, tourist and archaeological importance are being developed with support from various public/private companies as CSR partners.
• IndianOil was recognised as one of the top 10 digitally empowered PSUs of the country at the 17th Infotech Forum organised by Var India, India’s frontline IT magazine, in June 19.
• Several IndianOil locations, including Bongaigaon and Guwahati refineries, Paradip Terminal, Panipat Marketing Complex, LPG bottling plant at Madurai, and Rajkot depot bagged the National Safety Awards in September 2019.
• IOCian and India opener Rohit Sharma was adjudged the best sportsman of the Year (cricket) at the annual Sportstar Aces Awards-2019 given away at Mumbai in January 2020.
• IndianOil was felicitated with Best Practices in CSR Award-2020 among PSUs at the 6th International Conference on CSR organised by the Institute of Public Enterprises, Hyderabad, in January 2020.

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