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. 

For nearly seven decades, the company continues to make significant contributions to India’s energy security and self-reliance, achieving historic firsts in specialised fuels. Backed by cutting-edge R&D, a vast distribution infrastructure and deep-rooted corporate citizenship, the company plays a pivotal role in shaping India’s socio-economic progress.

Business area of company 

Indian Oil 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. The company continues to maintain its leadership position in fuel marketing with the largest market share in petroleum products, including Petrol, Diesel, LPG and Aviation Turbine Fuel.

Business segment of the company 

Refining: Born from the vision of achieving self-reliance in oil refining and marketing for the nation, the company has gathered a luminous legacy of more than 100 years of accumulated experiences in all areas of petroleum refining by taking into its fold, the Digboi Refinery commissioned in 1901.

Pipelines: The company operates a network over 20,000 km long crude oil, petroleum product and gas pipelines with an installed throughput capacity of around 130 million metric tonnes per annum of oil and around 49 million metric standard cubic meters per day of gas. Cross-country pipelines are globally recognized as the safest, cost-effective, energy-efficient, and environment-friendly mode for transportation of crude oil and petroleum products.

Research & Development: The company has taken pioneering role in India in setting up its R&D Centre way back in 1972 at Faridabad, Haryana, which is equipped with state-of-the-art infrastructure and facilities. After establishing a strong super brand SERVO in the field of lubricants and building the competence of supply of lubricants in diverse field of applications, the company diverted its focus on technologies and catalyst in the area of petroleum refining. Currently, the company has commercialized and perfected several of its technologies developed during the last three decades. It has also come out with several catalysts and additives with superior performance.

Marketing: The company has one of the largest petroleum marketing and distribution networks in Asia, with over 60,000 marketing touch points. Its ubiquitous fuel stations are located across different terrains and regions of the Indian sub-continent. From the icy heights of the Himalayas to the Sun-Soaked shores of Kerala, from Kutch on India's western tip to Kohima in the verdant North East, the company is truly 'in every heart, in every part'. The company’s vast marketing infrastructure of petrol/diesel stations, Indane (LPG) distributorships, SERVO lubricants & greases outlets and large volume consumer pumps are backed by bulk storage terminals and installations, inland depots, aviation fuel stations, LPG bottling plants and lube blending plants amongst others. The countrywide marketing operations are coordinated by 16 State Offices and over 100 decentralised administrative offices.

Petrochemicals: India is amongst the fastest growing petrochemicals markets in the world. Taking this into consideration and to enhance its downstream integration, the company is focusing on increasing its presence in the domestic petrochemicals sector besides the overseas markets through systematic expansion of customer base and innovative supply logistics.

Natural Gas: The company ventured into natural gas marketing business in 2004 and has established itself as the second largest player in imported natural gas business in India. The Corporation has been investing continuously into the Natural Gas value chain verticals viz. scaling up LNG sourcing, participation in LNG import terminals, developing cross country natural gas pipelines, laying CGD networks and supplying LNG through road tankers.

E&P: The company’s business development initiatives continue to be driven by emerging opportunities and guided by its corporate vision of becoming “The Energy of India- a globally admired company”. Its business strategy focuses primarily on expansion across the hydrocarbon value chain. To enhance upstream integration, the company has been pursuing exploration & production activities both, within and outside the country in collaboration with consortium partners. The company has established a substantial E&P portfolio with participating interests ranging from 3% to 100% across 15 domestic and 11 international assets. Its overseas assets span diverse regions, including Libya, Gabon, Nigeria, USA, Venezuela, Canada, Russia, Oman, and the UAE.

Explosives: The company is the pioneer and largest provider of Bulk Explosives and Blast-based Services in the country. With a nationwide footprint, the company currently operates 12 Bulk Explosives Plants serving the bulk explosives needs of coal, iron ore, and copper mining industries across India and helping support the nation’s infrastructure and energy sectors.

IndianOil Cryogenics: Established as the pioneering Cryogenic Company in India four decades ago, IndianOil Cryogenics has unparallel expertise in the field. Its journey began with commitment to excellence with Customer first approach. Today, it stands as one of the market leaders offering cutting edge solutions in niche segment of Cryogenics Engineering in the design and production of cutting-edge vacuum super-insulated Cryogenic Storage and Transport Vessels. With a sprawling manufacturing unit spanning 36,000 square meters in Nashik, equipped with state-of-the-art machinery, it caters to diverse industries including Animal Husbandry, Oil & Gas, Refineries, Chemicals, Aviation, Lubricants, Animal Husbandry and Gas.

• 2019: IndianOil 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.
• 2019: IndianOil bagged the prestigious ‘Vigilance Excellence Award’ of the Central Vigilance Commission for its outstanding vigilance awareness initiatives during 2019.
• 2019: IndianOil was felicitated with the Super Buyer Award-2019 in December 2019 for excellence in procurement through the Government e-Market Place.
• 2019: IndianOil 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.
• 2019: IndianOil won recognition as the Best PSU/Corporate for promotion of sports at the annual Sportstar Aces Awards-2019.
• 2019: IndianOil 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.
• 2019: IndianOil bagged the AIMA Managing India Award-2019 for Outstanding PSU of the Year.
• 2019: 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.
• 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.
• 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.
• 2019: 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.
• 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.
• 2019: 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.
• 2019: IATA (International Air Transport Association) honoured IndianOil with Award of Recognition at the Aviation Fuel Forum held in New Orleans, USA, in December 2019.
• 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.
• 2019: 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.
• 2019: 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.
• 2020: 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.
• 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.
  
• 2021-22: IndianOil bagged the prestigious Asian Oil and Gas Award for Covid Management and New Product of the Year.
• 2021-22: IndianOil won the Best PSU for the Promotion of Sports Award at Sportstar Aces 2022.
• 2021-22: IndianOil received the Asia Corporate Excellence & Sustainability (ACES) Award 2021.
• 2021-22: IndianOil was adjudged the Best PSU 2021 by Dun and Bradstreet.
• 2021-22: IndianOil won the Global Healthy Workplace Award-2021 under large employer category. This award was instituted by Global Centre for Healthy Workplaces (GCHW) based on ‘WHO Healthy Workplace Model’.
• 2022-23: IndianOil tops Business World Real 500 rankings for the second year in a row.
• 2022-23: Highest ranked Company among the Indian corporates in Oil & Gas sector as per Global Rankings on transition released by Bloomberg New Energy Finance.
• 2022-23: Best Humanitarian Service Award by Indian Red Cross Society.
• 2022-23: Indian Institute of Social Welfare & Business Management (IISWBM)-Dave Ulrich HR Excellence Award in the category of ‘The Best Employee Champion 2023’.
• 2023-24: IndianOil received five prestigious FICCI Chemicals & Petrochemicals Awards 2023.
• 2023-24: IndianOil was honoured with four prestigious awards across various categories at the FIPI Oil and Gas Awards 2022.
• 2023-24: Network18, India’s premier media group, conferred the prestigious ‘Green Ribbon Champion’ Award to IndianOil for reutilisation of treated waste water by Mathura Refinery.
• 2023-24: IndianOil was adjudged ‘Winner’ under the category of ‘Issuer of The Year - Commercial Paper’ at the 6th National Summit & Awards - Corporate Bond Market 2023 organised by the Associated Chambers of Commerce & Industry of India (ASSOCHAM).
• 2023-24: IndianOil was conferred with the prestigious Government-eMarketplace (GeM) Award in the category of ‘Highest Single Bid Procurements in the financial year 2022-23’.
• 2024-25: IndianOil became the only Indian energy Company to feature in the Clarivate Top 100 Global Innovators 2024. This recognition, by Clarivate Analytics, acknowledges organisations that demonstrate consistent innovation and influence through intellectual property.
• 2024-25: The Economic Times named IndianOil among the ‘ET Iconic Brands of India 2024’, honouring the brand’s legacy, national impact and trust among stakeholders.
• 2024-25: IndianOil secured the 3rd position for brand strength in the Indian Oil and Gas sector, as evaluated by Brand Finance, a UK-based brand valuation consultancy. This ranking recognises the trust and equity IndianOil commands among consumers and partners alike.
• 2024-25: IndianOil was ranked 1 among Indian Oil and Gas companies in the S&P Dow Jones Sustainability Indices (DJSI) 2024. This globally respected benchmark evaluates companies on economic, environmental and social criteria, highlighting IndianOil’s commitment to sustainable development.