Indian Oil Corporation

Indian Oil Corporation

Personal information
Full name	Indian Oil Corporation
Company type	public
Founded	(1991-09-05) 30 June 1959 (66 year ago) New Delhi, India

Indian Oil Corporation Limited (IOCL or IOC)trading as IndianOil, is an Indian multinational[3][4] oil and gas company under the ownership of the Government of India and administrative control of the Ministry of Petroleum and Natural Gas.It is a public sector undertaking which is registered in Mumbai and headquartered in New Delhi.[5] It is the largest government-owned oil producer[6] in the country both in terms of capacity and revenue. It has consolidated refining capacity of 80.55MMTPA.

Indian Oil Corporation (IOCL) emerged as India’s most profitable public sector enterprise for the second consecutive year in 2017–18, reporting a record profit of ₹21,346 crore. In February 2020, the company strengthened its global energy ties by signing a crude oil supply agreement with Rosneft to purchase 140,000 barrels per day. By 1 April 2020, IndianOil successfully rolled out BS-VI (Bharat Stage VI) fuels across its retail outlets in Telangana, aligning with advanced global emission standards and reinforcing its commitment to cleaner energy.
In January 2021, IOCL recorded an all-time high in sales, reaching approximately 410,000 barrels of oil per day by 26 January. The company maintains strong strategic partnerships with major global energy players, including Delek, QatarEnergy, and Saudi Aramco. Additionally, supply agreements were signed with Abu Dhabi National Oil Company and National Iranian Oil Company to ensure steady crude production and supply.
In March 2022, IOCL was replaced by Apollo Hospitals in the NIFTY 50 benchmark index, marking a significant shift in market representation. Despite this change, Indian Oil Corporation continues to play a crucial role in India’s energy security, refining, and fuel distribution network.

As of 2025, the Government of India remains the majority shareholder in Indian Oil Corporation (IOCL), holding approximately 51.5% of the company’s equity stake. The remaining shares are held by public shareholders, including domestic institutional investors, mutual funds, foreign portfolio investors (FPIs), insurance companies, and retail investors. With the government retaining majority ownership, IOCL continues to function as a public sector undertaking (PSU) while being listed on Indian stock exchanges and widely held by institutional and individual investors.

Indian Oil Corporation (IOCL) has built a strong business career as India’s largest commercial oil company, operating across the entire hydrocarbon value chain including refining, pipeline transportation, marketing, petrochemicals, and natural gas. Established in 1959 and later formed through the merger of Indian Oil Company Ltd. and Indian Refineries Ltd., IOCL has expanded its refining capacity to become one of Asia’s top refiners, with an extensive network of fuel stations across India. The company also invests in renewable energy, biofuels, hydrogen projects, and international oil exploration, while maintaining strategic global partnerships to secure crude supply, making it a key pillar of India’s energy security and economic growth.

Indian Oil Corporation (IOCL) follows an ideology centered on energy security, nation-building, and sustainable growth. As a government-owned enterprise, its core mission is to ensure uninterrupted supply of petroleum products across urban and rural India while supporting economic development. The company emphasizes affordability, accessibility, and self-reliance in energy, aligning with national priorities. In recent years, IOCL has also integrated environmental responsibility into its vision by investing in cleaner fuels, renewable energy, green hydrogen, and reduced carbon emissions, reflecting its commitment to balancing commercial performance with social and environmental responsibility.

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