IndianOil holds ‘Maharatna’ status, the highest classification accorded to a CPSE enterprise in India. Over the decades, IndianOil has evolved into one of the country’s largest and most strategically significant enterprises, playing a vital role in supporting energy access, industrial activity, economic development and mobility across the nation.
CONNECTING VISION, MISSION, VALUES AND STRATEGY THROUGH SPRINT:
IndianOil’s Vision - to be “The Energy of India and A Globally Admired Company”, is anchored in six dimensions: Ethics, People, Innovation, Environment, Technology and Customers. Simultaneously, SPRINT serves as the enterprise transformation roadmap that translates this Vision into action, guided by the Company’s values of Nation First, Care, Innovation, Passion and Trust. SPRINT comprises six pillars with each contributing to multiple dimensions of the Vision while reinforcing the values and behaviours that define IndianOil’s culture:
- Strengthen Core Businesses enhances operational excellence, competitiveness and energy security, driven by Nation First and a commitment to reliable energy access.
- Propel Cost Optimisation strengthens operational efficiency and resource optimisation, driven by Innovation and a commitment to sustainable value creation.
- Reinforce Customer Centricity strengthens customer relationships and experiences, driven by Passion and a commitment to exceed expectations.
- Integrate Technology and Innovation accelerates digital transformation and future-ready capabilities, embodying the value of Innovation.
- Nurture Leadership and Talent develops leadership, skills and an inclusive culture, advancing the people dimension through Care and Trust.
- Transition Ready positions IndianOil for the evolving energy landscape through investments in renewable and emerging energy solutions, reflecting Nation First and Innovation.
Together, the six SPRINT pillars create an integrated framework that aligns strategy with Vision and Values. By combining operational excellence, customer focus, innovation, people development and sustainability, SPRINT enables IndianOil to build a resilient, future-ready enterprise while advancing its aspiration of being “The Energy of India and A Globally Admired Company.”
Note: IndianOil’s Vision statement encompasses the Mission Statement of the Company.
IndianOil Values - The North Star Guiding Our Thoughts and Actions
India’s demand for energy spans fuels, gas, petrochemicals and newer forms of energy. IndianOil operates across these markets. Our refining and marketing businesses account for the largest share of operations today, while investments in petrochemicals, natural gas, upstream assets and new energy are widening the sources of future business.
REFINING, PIPELINES AND MARKETING
Our refineries process a diverse crude slate into fuels, feedstocks and speciality products for India’s energy markets. Ongoing capacity additions at Panipat, Gujarat and Barauni are taking our group refining capacity towards ~98 MMTPA, providing headroom for demand growth and greater integration with petrochemicals. Our pipeline network connects crude and product movement with major consumption centres, providing an efficient mode of bulk transportation.
Marketing completes this integrated chain. Through our retail outlets, aviation fuelling facilities and an extensive LPG distribution network, we serve mobility, industrial, aviation and household demand across the country. Investments across refining, pipelines and market infrastructure are directed towards maintaining supply reliability while preparing these businesses for changing product and energy requirements.
PETROCHEMICALS
Petrochemicals increase the value derived from refinery streams and broaden our participation beyond transportation fuels. Our portfolio spans polymers, fibre intermediates and performance chemicals, including PP, PX/PTA, LAB and PBR, serving applications across packaging, textiles, plastics and industrial manufacturing.
New capacity and deeper refinery-petrochemical integration are widening the product portfolio and increasing conversion of refinery streams into higher-value products. Development of speciality chemicals and indigenous catalysts also addresses selected import dependencies.
NATURAL GAS
Our natural gas business spans LNG import and regasification, gas marketing and City Gas Distribution. The 5 MMTPA Ennore LNG terminal of our JV Company provides import and regasification infrastructure in southern India, while our pipeline connectivity and marketing activities connect gas supply with industrial and commercial demand.
The Company alongwith its joint ventures have authorisation across 49 geographical areas for City Gas Distribution. These businesses extend gas access to households, transport and industry and broaden IndianOil’s participation across the gas value chain.
EXPLORATION AND PRODUCTION (E&P)
Our upstream portfolio consist of direct participation in oil and gas resources in India and overseas. Currently, we have interests across 12 domestic and 10 overseas E&P blocks, providing exposure to different resource basins and geographies.
The portfolio complements our downstream scale by extending our upstream presence in the hydrocarbon value chain. Partnerships, technology deployment and disciplined development of producing and prospective assets remain central to how we manage this portfolio and its contribution to long-term energy supply.
ALTERNATIVE ENERGY AND OTHER BUSINESSES
Our portfolio is extending into energy forms that are expected to assume a larger role in India’s evolving energy mix. Investments span renewable power, green hydrogen, Sustainable Aviation Fuel (SAF), biofuels, compressed biogas and electric mobility, alongside other emerging business opportunities.
Development activities have commenced for 1 GW of renewable energy capacity through Wholly owned Subsidiary Terra Clean Ltd., with preparatory work underway for an additional 4.3 GW. We are also developing green hydrogen at Panipat, advancing biofuel and CBG pathways and participating in hydrogen mobility trials. IndianOil became the first company in India to obtain ISCC CORSIA certification for SAF production at Panipat Refinery.
IndianOil’s international operations encompass fuel marketing, lubricants, aviation fuels, LPG, exploration and production, and global energy trade. Through its overseas subsidiaries, joint ventures, and participating interests, the Company has established a strategic presence in South Asia, the Indian Ocean region, and the Middle East, while also maintaining interests in international exploration assets. In addition, IndianOil actively undertakes crude oil sourcing and petroleum product trading in key global markets.
Our competitive position draws on resources and capabilities built over six decades. They span physical infrastructure, technological know-how, human capital, institutional relationships, customer loyalty and brand equity. They are capital-intensive, geographically embedded and accumulated over time, making them difficult to replicate at comparable scale.
INTEGRATED VALUE CHAIN SCALE AND REACH
Our 10 refineries (including CPCL refinery) with ~80 MMTPA capacity, being scaled towards ~98 MMTPA, are backed by over 20,000 km of pipelines. At the customer end, 42,000+ retail outlets and 12,940 LPG distributorships provide nationwide reach. The integration of crude sourcing, refining, logistics and last-mile retail is capital-intensive and geographically embedded. Land availability, pipeline rights-of-way and retail outlet authorisations make replication at comparable scale difficult for a new entrant — domestic or foreign.
GOVERNMENT SUPPORT AND STRATEGIC MANDATE
As a Maharatna PSU with majority Government of India ownership, IndianOil has a distinct role in India’s energy security and strategic infrastructure. Our institutional standing provides access to strategic infrastructure approvals and supports the execution of projects aligned with national energy requirements.
MARKET REACH AND BRAND TRUST
Distribution density across India provides access to customers built over decades of operations. Reliability of supply, including during disruptions such as the recent West Asia crisis, adds to this relationship. The combination of nationwide reach, customer loyalty and brand equity gives IndianOil an advantage that cannot be replicated through physical investment alone.
TALENT DEPTH AND INSTITUTIONAL KNOWLEDGE
Our workforce of around 30,000 employees carries accumulated operational knowledge across refining, pipelines and marketing. This experience is particularly relevant to the safe and reliable operation of complex assets, evidenced by 99.5% operational availability. Reskilling for energy transition roles and digital and AI capabilities is preparing our workforce for changing business requirements.
IN-HOUSE R&D AND PROCESS TECHNOLOGY
Our R&D Centre has developed proprietary technologies such as INDMAX which provide in-house capabilities in refinery processes, catalyst development and lubricant formulation. With 1,898 cumulative patent filings as of March 2026, our technology base contributes to yield improvement, lower energy intensity and diversification into petrochemicals, Sustainable Aviation Fuel and green hydrogen.
BALANCE SHEET AND CAPITAL ACCESS
Our financial scale, AAA credit rating and access to domestic and international capital markets provide funding capacity for large, long-tenor investments at competitive terms. This capacity is particularly relevant as we fund refinery additions and petrochemical integration alongside investments in green hydrogen, renewables and Sustainable Aviation Fuel.
IndianOil’s growth has been intrinsically linked with India’s economic growth, playing a pivotal role in strengthening the nation’s energy security and advancing its vision of self-reliance. Indian Oil Corporation Limited was formed on September 1, 1964, upon the merger of Indian Refineries Limited (incorporated in 1958) with Indian Oil Company Limited (incorporated in 1959), to build India’s refining capabilities and develop a robust petroleum distribution network.
From early refineries at Guwahati, Barauni, and Koyali, IndianOil has expanded steadily over the decades into a diversified, integrated energy enterprise with a nationwide presence. In recognition of its scale, strategic importance, and operational excellence, the Government of India conferred the prestigious 'Maharatna' status on IndianOil in 2010, a distinction reserved for the country's largest and most globally competitive public sector enterprises. The Company has also consistently featured among the Fortune Global 500, reflecting its growing global stature.
Today, IndianOil operates one of India’s largest integrated energy businesses, continuing to drive the nation’s progress through reliable energy solutions while contributing to the vision of an Atmanirbhar (self-reliant) India.
Through every phase of India’s energy transition—from kerosene lighting to clean cooking with LPG, from leaded fuels to BS-VI fuels, and now towards cleaner and greener solutions—IndianOil’s product portfolio has evolved to reflect the nation’s changing aspirations. Over the decades, the Company has earned the confidence of generations of Indians, establishing itself as one of the country’s most trusted energy brand.
A timeline of defining moments that shaped IndianOil and India’s energy journey.
1958–59
Indian Refineries Ltd. (1958) and Indian Oil Company Ltd. (1959) were established to build India’s indigenous petroleum capability.
1964
Indian Refineries Ltd. was merged with Indian Oil Company Ltd. on September 1, 1964 and name of the Company was changed to Indian Oil Corporation Ltd.
1962–70
Commissioning of refineries at Guwahati (Assam), Barauni (Bihar) & Koyali (Gujarat), thus laying the foundation for self-reliant refining capacity in India.
1970s–80s
Rapid expansion of the cross-country pipeline grid and a pan-India retail and LPG (Indane) marketing network.
1995
IndianOil becomes the first Indian company to break into the Fortune ‘Global 500’ list of the world’s largest Companies.
2000s
Foray into petrochemicals, natural gas, exploration & production and overseas operations; acquisition of IBP and stake in CPCL.
2010
Conferred ‘Maharatna’ status by the Government of India – among the first PSUs to receive this distinction.
2016
Commissioning of the state-of-the-art Paradip Refinery in Odisha, one of India’s most modern refineries.
2020
Nationwide rollout of BS-VI ultra-clean fuels; India’s first EV & battery-swapping stations launched.
2020s
Major investments in green hydrogen (Panipat), 2G ethanol, compressed bio-gas, city gas distribution and EV charging.
2025–26
Highest-ever crude throughput of 75.45 MMT at 107.4% capacity utilisation, record sales of 105.12 MMT and net profit of ₹36,802 Crore.