Indian Oil Corporation
Indian Oil Corporation Limited, or IndianOil, (BSE: 530965, NSE: IOC) is an Indian state-owned oil and gas corporation with its headquarters in New Delhi, India. The company is the world's 83rd largest public corporation, according to the Fortune Global 500 list, and the largest public corporation in India when ranked by revenue. IndianOil and its subsidiaries account for a 49% share in the petroleum products market, 31% share in refining capacity and 67% downstream sector pipelines capacity in India. The IndianOil Group of Companies owns and operates 10 of India's 22 refineries with a combined refining capacity of 65.7 million metric tonnes per year. The President of India owns 78.92% (1.9162 billion shares) in the company. In FY 2012 IOCL sold 75.66 million tonnes of petroleum products and reported a PBT of ₹37.54 billion, and the Government of India earned an excise duty of ₹232.53 billion and tax of ₹10.68 billion. It is one of the five Maharatna status companies of India, apart from Coal India Limited, NTPC Limited, Oil and Natural Gas Corporation and Steel Authority of India Limited
IndianOil operates the largest and the widest network of fuel stations in the country, numbering about 20,575 (16,350 regular ROs & 4,225 Kisan Seva Kendra). It has also started Auto LPG Dispensing Stations (ALDS). It supplies Indane cooking gas to over 66.8 million households through a network of 5,934 Indane distributors. In addition, IndianOil's Research and Development Center (R&D) at Faridabad supports, develops and provides the necessary technology solutions to the operating divisions of the corporation and its customers within the country and abroad. On 28 May 2012, Indian Oil hinted at reduction in prices of petrol.
Read more about Indian Oil Corporation: History, Products, Refineries, Group Companies and Joint Ventures, International Rankings, Loyalty Programs, Competitors, Concerns, Oil Industry Development Board, Manpower Grade Wise
Famous quotes containing the words indian, oil and/or corporation:
“This Indian camp was a slight, patched-up affair, which had stood there several weeks, built shed-fashion, open to the fire on the west.... Altogether it was about as savage a sight as was ever witnessed, and I was carried back at once three hundred years.”
—Henry David Thoreau (1817–1862)
“Opinions are to the vast apparatus of social existence what oil is to machines: one does not go up to a turbine and pour machine oil over it; one applies a little to hidden spindles and joints that one has to know.”
—Walter Benjamin (1892–1940)
“What I am anxious to do is to get the best bill possible with the least amount of friction.... I wish to avoid [splitting our party]. I shall do all in my power to retain the corporation tax as it is now and also force a reduction of the [tariff] schedules. It is only when all other efforts fail that I’ll resort to headlines and force the people into this fight.”
—William Howard Taft (1857–1930)