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indian oil corp ltd (IOC) Details

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, propylene, raw petroleum coke, sulphur, and toluene. The company operates approximately 10 refineries; a network of 11,214 kilometers crude oil, products, and gas pipelines; 23,993 petrol and diesel stations, including 6,002 Kisan Seva Kendras in the rural markets; 98 aviation fuel stations and 90 LPG gas bottling plants; and approximately 6,300 bulk consumer pumps in 3,130 markets, as well as has a network of 7,035 LPG distributors. Indian Oil Corporation Limited’s exploration and production portfolio comprises nine oil and gas blocks and two coal bed methane blocks in India; and nine blocks in Libya, Iran, Gabon, Nigeria, Timor-Leste, Yemen, and Venezuela. Further, it is engaged in the explosives and cryogenic businesses; wind mill and solar power generation activities; lube blending and marketing of petroleum products; and plantation of Jatropha, and extraction of oil for bio-diesels. The company also exports its products. It serves consumer, industrial, and marine, as well as domestic and international flag carriers, private airlines, and the Indian defense services sectors. The company was founded in 1959 and is based in New Delhi, India.

33,793 Employees
Last Reported Date: 08/4/14
Founded in 1959

indian oil corp ltd (IOC) Top Compensated Officers

Whole-Time Director, Member of Establishment ...
Total Annual Compensation: 2.9M
Compensation as of Fiscal Year 2014.

indian oil corp ltd (IOC) 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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