IndianOil - India’s largest commercial enterprise
New Delhi   16-Nov-2009
India's flagship national oil company and downstream petroleum major, IndianOil is the country's largest commercial enterprise, with a sales turnover of Rs. 2,85,337 crore - the highest-ever for an Indian company - and a net profit of Rs. 2,950 crore for the year 2008-09. IndianOil is also the highest ranked Indian company in the prestigious <i>Fortune</i> 'Global 500' listing, having moved up 11 places to the 105th position in 2009. Incorporated as Indian Oil Company Ltd. on June 30, 1959, it was renamed as Indian Oil Corporation Ltd. on September 1, 1964, following the merger of Indian Refineries Ltd. with it. IndianOil and its subsidiaries account for approximately 48 per cent petroleum products market share, 34 per cent national refining capacity and 71 per cent downstream sector pipelines capacity in India. For the year 2008-09, the IndianOil group sold 62.6 million tonnes of petroleum products, including 1.7 million tonnes of natural gas, and exported 3.64 million tonnes of petroleum products. The IndianOil Group of companies owns and operates 10 of India's 20 refineries with a combined refining capacity of 60.2 million metric tonnes per annum. These include two refineries of subsidiary Chennai Petroleum Corporation Ltd. The Corporation's cross-country network of crude oil and product pipelines, spanning over 10,000 km and the largest in the country, meets the vital energy needs of the consumers in an efficient, economical and environment-friendly manner. IndianOil is investing Rs. 43,400 crore during the period 2007-12 in augmentation of refining and pipeline capacities, expansion of marketing infrastructure and product quality up gradation as well as in integration and diversification projects. As the flagship national oil company in the downstream sector, IndianOil reaches precious petroleum products to millions of people every day through a countrywide network of about 35,000 sales points. They are backed for supplies by 167 bulk storage terminals and depots, 101 aviation fuel stations and 89 Indane (LPGas) bottling plants. About 7,335 bulk consumer pumps are also in operation for the convenience of large consumers, ensuring products and inventory at their doorstep. IndianOil operates the largest and the widest network of petrol and diesel stations in the country, numbering over 18,278. It reaches Indane cooking gas to the doorsteps of over 53 million households in nearly 2,700 markets through a network of about 5,000 Indane distributors.