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October 08, 2015 7:38 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Indian Oil Corporation Limited

Company Overview

Indian Oil Corporation Limited, together with its subsidiaries, engages 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, ...

3079/3, J B Tito Marg

Sadiq Nagar

New Delhi,  110049


Founded in 1959

32,962 Employees


91 11 2626 0000

Key Executives for Indian Oil Corporation Limited

Director of Finance, Director, Member of Remuneration Committee, Member of Stakeholders' Relationship Committee, Member of Projects Evaluation Committee, Member of Corporate Social Responsibility (Csr) & Sustainable Development Committee, Member of Oil Price Risk Management Committee, Member of Spot Lng Purchase Committee, Member of Lng Sourcing Committee and Member of Disputes Settlement Committee
Age: 57
Total Annual Compensation: $1.6M
Executive Director of Law and Company Secretary
Total Annual Compensation: $3.4M
Director of Human Resource, Director, Member of Remuneration Committee and Member of Stakeholders' Relationship Committee
Age: 58
Total Annual Compensation: $1.1M
Director of Planning & Business Development, Director, Chairman of Spot Lng Purchase Committee, Member of Corporate Social Responsibility (Csr) & Sustainable Development Committee and Member of Oil Price Risk Management Committee
Age: 53
Total Annual Compensation: $2.3M
Director of Refineries, Director, Member of Health, Safety & Environment Committee, Member of Oil Price Risk Management Committee, Member of Lng Sourcing Committee, Member of Spot Lng Purchase Committee and Member of Marketing Strategies Committee
Age: 55
Total Annual Compensation: $2.8M
Compensation as of Fiscal Year 2015.

Indian Oil Corporation Limited Key Developments

Indian Oil Corp Signs Agreement for Diesel Supply to Punjab Roadways at Discounted Price

Indian Oil Corp. has entered into an agreement with Punjab Roadways and Punbus for supplying them diesel at a concession of INR 1.05 a litre for a period of five years. The deal stating that these two units have successfully finalized this contract for getting the discount on the present prices of the fuel. IOC's this discount amount is among the higher it has ever offered to state transport undertakings in the northern Indian state. It will help the state to save over INR 190 million. In addition, the oil company has been agreed to offer additional infrastructure, including on-line diesel monitoring dispensing units and digital tyre inflators for reducing pilferage, by which Punjab Roadways and Punbus will be benefited.

Indian Oil Corporation Ltd Announces Cessation of Devang Khakhar as Independent Director

Indian Oil Corporation Ltd. has informed that Devang Khakhar has ceased to be an Independent Director on the Board of the company with effect from September 15, 2015 consequent upon the completion of his term.

Indian Oil Corp. Ltd to Invest INR 1.75 Trillion over Next Five to Seven Years

Indian Oil Corp. Ltd. will invest INR 1.75 trillion over the next 5 to 7 years after the scheduled opening of its Paradip refinery in October 2015. Out of this, INR 500 billion will go into its core business of refining, which will involve capacity expansion across its four refineries at Koyali in Gujarat, Mathura in Uttar Pradesh, Panipat in Haryana and Barauni in Bihar. This will add capacity almost equal to its yet-to-be-operational 15 million tonnes per annum (mtpa) Paradip refinery in Odisha. The state-owned firm will invest another INR 500 billion to expand its pipeline network to 17,000km from 11,000km and into its marketing operations of selling fuel and distributing liquefied petroleum gas. The company will also invest close to INR 750 billion into newer businesses of petrochemicals, exploration and production, and natural gas infrastructure. By the time this phase of investment is over, IOC will look at expanding its Paradip refinery to 20 mtpa from 15 mtpa and look at setting up of a new refinery on the west coast of India.

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