Indian Oil Corporation Limited
Loading Annual Report 2020-21

Manufactured Capital

IndianOil is present across the entire energy value chain of the upstream, midstream and downstream hydrocarbon industry. Our manufactured capital is underpinned by efficient resources and an integrated operating model that delivers reliable and consistent performance across all our business segments.

Panipat Refinery & Petrochemicals Complex

  • 62.4 MMT

    of crude processing

  • 2.5 MMT

    of petrochemical production

  • 15,000+ Km

    of pipeline network

  • Planned capex of ₹ 1,00,000 Crore for projects to be completed in coming years, with a focus on ‘Aatmanirbhar Bharat
  • Major expansion projects to widen capacity and developments aligned to our objective of emerging as the ‘Energy of India’
  • Operational presence across the country brings the Company in proximity to its customers

1. Refineries

IndianOil owns 9 refineries in strategic locations across India. Refineries consist of the most critical link to the supply chain of petroleum products, solely responsible for the production of several downstream products. To fulfil market demand for multiple products, the refineries have developed optimum production capacities.

70.05 MMTPA

Refining capacity

89 %

Capacity utilisation achieved in 2020-21


Market share of India’s total refining capacity

Highlights for 2020-21

  • Uninterrupted supply of BS-VI compliant fuels after the introduction of new norms on April 01, 2020
  • Production of premium quality XP100 Petrol from all refineries for high-end two and four-wheeler petrol vehicles
  • Enhanced production of Ethanol Blended Motor Spirit (EBMS) from Mathura refinery and commencement of EBMS supply from Panipat Refinery.
  • Commissioning of new projects at refineries, including catalytic reforming unit at Barauni refinery and INDMAX unit at Bongaigaon refinery for increasing production of high value products like LPG and MS, thereby helping to reduce imports and save logistics costs on LPG supply to India’s north-eastern region
  • Commissioning of fuel quality upgradation facilities like diesel hydrotreater, hydrogen units and sulphur recovery units at Panipat, Gujarat and Haldia refineries
  • 92,588 Standard Refinery Fuel Tons (SRFT) of energy saved, i.e., emission reduction of 0.30 MMT CO2-eq

Road ahead

We intend to enhance our crude refining capacity from 70.05 MMT to 87.55 MMT by 2024-25, to meet the growing demand for petroleum products. Our continuous efforts to increase petrochemical production along with refining capacity expansion is expected to drive profitability in the days ahead.

7.5 % by 2025

proposed target of Petrochemical Intensity Index of IndianOil refineries

Restructuring and planning

Except LPG, the demand for all petroleum products reduced due to the Covid-19 pandemic. However, processing of crude yields only 5-6% of LPG. This resulted in a rapid spurt of fuel stocks at refineries and pipeline product management had to be addressed through meticulous planning. Optimum throughput of LPG was maintained after making arrangements for adequate temporary storage, following strict safety measures.

2. Petrochemicals

PX/PTA Plant at Panipat Refinery

IndianOil is the second largest producer of petrochemicals in India with integrated downstream facilities across its key refineries. The Linear Alkyl Benzene (LAB) plant at its Gujarat refinery, as well as the Paraxylene/Purified Terephthalic Acid (PX/PTA), Polypropylene Plant at Paradip Refinery and Naphtha Cracker Plants at its Panipat Refinery are state-of-the-art integrated units that strengthen our presence in the hydrocarbon value chain. Each of these world-class facilities are equipped with modern infrastructure and introduce new synergies of production.

Market share of our products






total petrochemical capacity


Product Application Development Centres (PADC) at Panipat and Paradip refineries

Highlights for 2020-21

  • Record petrochemical product sale of 2.68 MMT (including exports), further strengthening our market share in petrochemical products
  • Four new PROPEL grades (1045RG, 4015EG, 1350YH and 1200MAS) introduced in the year as import substitutes
  • IndianOil became only the seventh company in the world to get certified with a Minimum Required Strength (MRS) 10 rating, with ‘no knee’ for its PROPEL HDPE PE-100 pipe grade 002DP48
  • Export infrastructure developed to serve overseas markets of Bangladesh, Myanmar, Vietnam, and Sri Lanka on competitive commercial terms (on CFR basis)

Road ahead

We are already developing 3.1 MMPTA additional capacity by 2024-25 with a capital outlay of ₹ 35,000 Crore. It is expected to aid the development of new grades of polymers and help to meet increasing demands from consumer and non-consumer durables sectors. It will also improve our market share and ensure sustained value creation in the coming years.

Scaling up efforts during the pandemic

While logistic and supply chain disruptions caused temporary setbacks in operations, the team fought back to support the nation at a time of crisis. Biocompatibility and Drug Master File (DMF) approval for (poly propylene) PP grade 1200MC was obtained in record time. The 1200MC grade has since been established for medical devices and disposable syringes. We also introduced PP grade 1350YH, a niche product, to address emerging requirements of personal hygiene products like sanitary pads, diapers, face masks, etc.

3. Pipelines

IndianOil pioneered the oil pipelines network in the country and today, we manage and operate the largest oil pipeline network in India. Our more than 15,000 Km, cross-country pipeline network has been globally benchmarked as the safest, cost effective, energy efficient and environmentally friendly mode of transportation for crude oil and petroleum products. It is a firm testimony of our engineering brilliance that enables us to efficiently link key production and consumption sites across the country.

76 MMT

of throughput achieved in 2020-21

Highlights for 2020-21

  • Initiated blending of heavy crude (8% MAYA) with regular HS crude for the very first time
  • As an industry first initiative, Aviation Turbine Fuel (ATF) was pumped with LS-ATF as alternative interface plug, resulting in nil Superior Kerosene Oil (SKO)
  • DRA Injection trials were conducted in multi-product pipelines handling ATF to optimise specific energy consumption and reduce costs
  • EBMS (E-10) pumping in pipelines is now operational

Road ahead

Transportation of EBMS through cross-country pipelines will now be accelerated. The use of LS-ATF as plug for aviation and non-aviation fuels will streamline operations with higher throughput. Pipeline projects valued over ₹ 24,963 Crore are under implementation on standalone basis, which upon completion, would increase the pipline network length to around 21,000 kms and capacity increased to 143.83 MMTPA and 49.5 MMSCMD respectively for liquid and gas pipelines.

Technology driven throughput

Industrial Internet of Things (IIoT) based performance monitoring and predictive analysis system for forecasting health of critical assets (mainline pump, motor and VFD) was introduced during the year. It included several technologies for monitoring reliability, pilferage, maintenance and automation of the pipeline division. A centralised management system was also implemented to evaluate corrosion growth and risk assessment of the pipeline network.

Share of pipeline network in India*

Present (2021)



Note*: Through own and JVs


  • IndianOil is the first in the industry to transport the green fuel, EBMS, through cross-country multiproduct pipelines, facilitating a single point handling of ethanol.
  • As per the Solomon Study, average capacity utilisation by the world’s best 174 pipelines was recorded as 69% while the capacity utilisation stood at 87.9% for IndianOil’s 17 pipelines.


Aligned to the Government of India’s vision of increasing the nation’s share of natural gas in the primary energy mix to 15% by 2030, IndianOil is creating world-class infrastructure for natural gas pipelines, regasification terminals, and CGD infrastructure on standalone basis and through JVs.

1,100 +Km

of gas pipeline network (including JV’s)

2,691 MMSCM

of throughput achieved in 2020-21

Highlights for 2020-21

  • IndianOil recorded total gas sales of 5.38 MMT, including own consumption, during 2020-21 compared to 5.42 MMT during the same period last year
  • To ensure smooth and cost effective RLNG supplies to refineries and customers, amid high spot LNG prices in February 2021, IndianOil adopted dual port discharge of our long-term LNG cargo. This proved to be cheaper than the domestic spot rates.

PESO license obtained for LNG mobile dispensing at IndianOil’s R&D facility in Faridabad, aryana, a first-of-its-kind initiative for conducting trials of LNG as a fuel for heavy duty trucks.

5.38 MMT

of sales in 2020-21


B2B customers - (nine added in 2020-21)

Road ahead

Expansion of Ennore LNG Terminal capacity from 5 MMTPA to 10 MMTPA has been planned along with capacity booking at other upcoming terminals.


Auto-LNG dispensing stations to be set up by IndianOil across the Golden Quadrilateral and North–South National Highways of India by the end of 2021

Regasification terminals (in MMT)

5. Marketing

We possess one of the largest petroleum marketing and distribution networks in Asia. Our pan India network of fuel stations, bulk storage terminals, inland depots, aviation fuel stations, LPG bottling plants and lube blending plants help to meet the energy needs of billions of Indians.


Terminals/ Depots


Aviation Fuel Stations


Lube blending plants in India


LPG bottling plants in India


LPG distributors (293 added in 2020-21)


Retail outlets (including KSK’s)


Consumer pumps across India


CNG stations across India


LPG bottling capacity (TMTPA)

3.75 Crore

beneficiaries of LPG under Pradhan Mantri Ujjawala Yojana, as on March 31, 2021

Case study

Earlier, LPG bottling plants had to be operated manually. Today, however, most operations are performed automatically, including the filling of LPG in cylinders. Installation of vision readers and downstream automatic check scales, valve-leak detection machines, integrated weight correction units and O-ring leak detection machines have enhanced the efficiency of our bottling units.

Case study

While the world grappled with a devastating pandemic, we remained focused on our objective to deliver LPG refills to customers without any interruptions.


  • Reduced manpower (due to labour migration and restriction in physical movement)
  • Age constraints (difficulty in utilising the services of delivery staff above 50 years in identified red zones)


  • Introduction of e-invoice/ e-receipt through email and SMS
  • Replaced physical signature of customers with Delivery Authentication Code (DAC) OTP
  • Customers empowered with digital payment options

Despite odds, our team adopted methods to reach customers in the remotest corners and ensured steady supply of LPG across the country, even during the pandemic. We introduced Health Insurance Policy cover for delivery personnel, ensuring the health and safety of our people as well as their families.

33 Lakhs

refills achieved on April 30, 2021, the highest ever single day last mile delivery

6. Exploration & Production

Utilising the synergies of an integrated business model, we are pursuing growth opportunities in the upstream hydrocarbon value chain. In collaboration with strategic partners, we continue to expand our footprint in domestic and overseas markets. IndianOil plans to acquire E&P assets, preferably those that are producing or near-term producing assets worldwide, depending on their commercial viability. In addition, IndianOil actively scouts for prospective assets in India through open acreage licensing policy, discovered small field round, and abroad licensing rounds of other countries or domestic/overseas farm-in opportunities, either on its own or in association with other companies, to build a balanced portfolio of E&P assets.

IndianOil is a non-operating partner in Mukhaizna project in Oman


domestic upstream blocks


overseas foreign upstream blocks

6.26 MMTPA

production target by 2023-24

9.68 MMTPA

production target by 2029-30


IndianOil’s E&P business evaluates various upstream farm-in opportunities worldwide, from time to time, with sizeable liquid hydrocarbon reserves, low production costs and the possibility of bringing Equity Oil to India.

7. Cryogenics

IndianOil has a thriving Cryogenics business with expertise in design & production of state-of-the-art vacuum super-insulated cryogenic storage and transport vessels. We are one of the largest manufacturers of cryogenic containers in the country. A market leader with nearly four decades of experience in cryogenic and vacuum engineering, we serve various industries like Refineries, Chemicals, Aviation, Lubricants, Animal Husbandry, Gas etc., through specialised and custom-built product lines.

The Cryogenics Group sold over 30000 cryo cans during 2020-21. The group also sold highest number of refuellers, Aviation containerised tanks with module and customised heavy duty refuellers during the year.

Al Nuaman LNG Tanker

8. Explosives

IndianOil is the pioneer and largest provider of bulk Explosives and blast based services in country. A commitment to innovation and technology is driving differentiation in key mining sectors. Since 2014-15, the production and sales of bulk explosives has grown by 165%. Various cost optimisation measures introduced during the year resulted in increase in the margins.