Oil Corporation: An Overview Of The Indian Oil Company Limited

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Indian Oil Corporation
Introduction:
Indian Oil Corporation Limited, or Indian Oil, it is an Indian state-owned oil and gas corporation with its main head office in New Delhi, India. It stands 83rd largest company among the top 500 fortune global companies throughout the globe, and the largest public corporation in India when ranked by gross.
Indian Oil started operations in 1959 as Indian Oil Company Limited. The Indian Oil Corporation was established in 1964, with the organization of Indian Refineries Limited.
The primary products of Indian Oil are petrol, diesel, LPG, auto LPG, and petrochemicals: bitumen, kerosene , naphtha etc.
Recently Indian oil registered a turnover of Rs 9,947.56 crore during 2012-13 compared to Rs 9,863.33 crore the previous year
The company has paid the record highest bonus of 300 per cent and the earnings per shares has increased to Rs 59.781 in 2012-13 compared to Rs 57.33 in 2011-12.

Record profit after tax registered growth of 4.13 per cent with a profit of Rs 3,789.34 crore as compared to Rs 3,346.82 crore in the former year.
VISION AND MISSSION OF INDIAN OIL CORPORATION LIMITED
Vision
A major diverse, trans-national, with national leadership ,integrated energy company, , playing a national role in oil security & public distribution and a strong environment conscience.
Mission
• To achieve international standards of perfection in all aspects of energy and diverse business with focus on customer satisfaction through value of products and services, and cost discount.
• To maximize creation of Revenue, expense and comfort for the stakeholders.
• To attain leadership in developing, support and understand state-of-the-art technology for opposing advantage.
• To provision technology and services throu...

... middle of paper ...

...l, the company has a presence in various other related activities such as pipelines petrochemicals petroleum storage, lube additives, petrochemicals, exploration gas, training and consultancy, etc.
• The company has already entered overseas markets such as Maldives ,Sri Lanka, and Oman and is presently entering Turkey through a JV. The company is in talks with Celiac of Turkey to set up a 10 million TPA supporting refinery with an investment of $2.1 billion and establish retail business. Indian Oil Corporation is also measuring the possibility of entering Indonesia.
Indian Oil corporation has also started research the overseas markets for increasing its wideness of operations. Its interests include downstream activities in Sri Lanka Nepal, Maldives, Oman, Maldives, interest in the lubes business in Sri Lanka ,Maldives, Dubai, Bangladesh ,Dubai , Sri Lanka, etc.

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