IndianOil: Taking rapid strides.,,

Over the years, IndianOil's business interests have spanned the entire hydrocarbon value chain from refining, pipeline transportation and marketing of petroleum products to E&P of crude oil and gas and petrochemicals. The company's business operations have been strategically positioned along side several business verticals that comprise refineries, pipelines, marketing, R&D and business development — E&P, petrochemicals and natural gas.

Granted the coveted "Maharatna" status in 2010, IndianOil is the country's highest-ranked Fortune Global 500 Company. Ranked 98th, it is the only Indian company in the top 100 list. In 2011-12, the Corporation had a record turnover of? 4, 09,957crore.

IndianOil was formed in 1964 with the merger of the Indian Refineries Ltd and the IndianOil Company. In 1972, IndianOil set up its world-class R&D facility at Faridabad. In the same year, IndianOil also launched SERVO, the first indigenous lubricant that went on to become one of the most well known brands of this country. In 1994, the company commissioned its first hydrocracker unit. IndianOil entered into a joint venture with Petronet LNG for LPG business. In 2000-03, the company began its E&P business and started its overseas retail business respectively. IndianOil joined the petrochemical business by commissioning single train kerosene to LAB unit. The year 2010 was a landmark year for IndianOil as the Corporation not only started its naptha cracker complex at Panipat but was also accorded the Maharatna status by the Government of India.

IndianOil owns 10 of the country's 20 refineries and has a combined refining capacity of 65.7MMTPA. The cross¬country product and gas pipelines that span 10,899 km, with a capacity of 75.2 MMTPA, is amongst the largest in the country. The Corporation's domestic portfolio includes 13 oil and gas blocks and two CBM blocks. It also has 10 blocks located across Libya, Yemen, Nigeria, Iran, Gabon, Timor-Leste and Venezuela through association with OVL and OIL. IndianOil has been recently awarded two blocks in the Cambay basin.

IndianOil has subsidiaries in Sri Lanka, Mauritius and the United Arab Emirates (UAE) and is presently looking to explore new business opportunities in Africa and Asia. The Corporation has managed to successfully integrate upstream and downstream activities and aspires to be the market leader in natural gas marketing and alternative energy as well. IndianOil is continuously looking to reduce the cost of crude oil sourcing, improve its distillate margin and achieve better energy efficiency.