February 28, 2015 3:07 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Indian Oil Corporation Limited

Company Overview

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, propylen...

3079/3, J.B. Tito Marg

Sadiq Nagar

New Delhi,  110049

India

Founded in 1959

33,793 Employees

Phone:

91 11 2626 0000

Key Executives for Indian Oil Corporation Limited

Whole-Time Director, Member of Establishment Committee, Member of Planning & Projects Committee, Member of Contracts Committee and Member of Health, Safety and Environment Committee
Age: 59
Total Annual Compensation: $2.9M
Compensation as of Fiscal Year 2014.

Indian Oil Corporation Limited Key Developments

Indian Oil Corporation Ltd. Announces Change in Directorate

Indian Oil Corporation Ltd. announced that Shri Anish Aggarwal has been appointed as Director(Pipelines) of the Company with effect from February 01, 2015 consequent upon the superannuation of Shri V. S. Okhde, Director(Pipelines) on January 31, 2015.

Indian Oil Corporation Limited to Build New MEG Plant at its Paradip Refinery

Indian Oil Corporation Limited has finalised a $605 million investment plan to build a new monoethylene glycol (MEG) plant at the firm's Paradip refinery in Orissa that is expected to be completed in the second quarter of 2015. The IOC board of directors has also approved a budget of $17 million for a detailed feasibility report which will include a survey of the domestic MEG market. The plant's capacity will be based on the outcome of this report. The company aims to be the lowest cost producer of MEG in India since the plant will be based on using refinery gas as feedstock.

Indian Oil Corporation Limited Announces Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014

Indian Oil Corporation Limited announced unaudited standalone earnings results for the third quarter and nine months ended December 31, 2014. For the quarter, the company reported net sales/income from operations (net of excise duty) of INR 1,069,273.4 million against INR 1,174,151.8 million a year ago. Loss from operations before other income, finance cost and exceptional items was INR 36,981.3 million against INR 17,951.2 million a year ago. Loss before tax was INR 32,846.1 million against INR 9,614.5 million a year ago. Net loss after tax was INR 26,368.0 million or INR 10.86 per basic and diluted share against INR 9,614.5 million or INR 3.96 per basic and diluted share a year ago. For nine months, the company reported net sales/income from operations (net of excise duty) of INR 3,428,984.7 million against INR 3,375,078.5 million a year ago. Loss from operations before other income, finance cost and exceptional items was INR 25,826.3 million against INR 23,140.7 million a year ago. Loss before tax was INR 10,123.2 million against INR 23,707.6 million a year ago. Net loss after tax was INR 10,123.2 million or INR 4.17 per basic and diluted share against INR 23,707.6 million or INR 9.76 per basic and diluted share a year ago.

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