Vision, Mission & Values Vision A major diversified, trans-national, integrated energy company, with national leadership and a strong environment conscience, playing a national role in oil security & public distribution. Mission To achieve international standards of excellence in all aspects of energy and diversified business with focus on customer delight through value of products and services, and cost reduction. To maximise creation of wealth, value and satisfaction for the stakeholders. To attain leadership in developing, adopting and assimilating state- of-the-art technology for competitive advantage. To provide technology and services through sustained Research and Development. To foster a culture of participation and innovation for employee growth and contribution. To cultivate high standards of business ethics and Total Quality Management for a strong corporate identity and brand equity. To help enrich the quality of life of the community and preserve ecological balance and heritage through a strong environment conscience. Values - Values we nurture Care - stands for Concern Empathy Understand ing Cooperatio n Empowermen t Innovation - stands for Creativity Ability to learn Flexibilit y Change Passion - stands for Commitmen t Dedicatio n Pride Inspirati on Ownership Zeal & Zest Trust - stands for Delivered Promises Reliability Dependability Integrity Truthfulness Transparency
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Vision, Mission & Values VisionA major diversified, trans-national, integrated energy company, with national leadership and a strong environment conscience, playing a national role in oil security & public distribution.
Mission To achieve international standards of excellence in all aspects of energy and diversified
business with focus on customer delight through value of products and services, and cost reduction.
To maximise creation of wealth, value and satisfaction for the stakeholders. To attain leadership in developing, adopting and assimilating state-of-the-art technology for
competitive advantage. To provide technology and services through sustained Research and Development. To foster a culture of participation and innovation for employee growth and contribution. To cultivate high standards of business ethics and Total Quality Management for a strong
corporate identity and brand equity.
To help enrich the quality of life of the community and preserve ecological balance and heritage through a strong environment conscience.
Profile VisionA major diversified, transnational, integrated energy company, with national leadership and a strong environment conscience, playing a national role in oil security & public distribution.
DistinctionsIndian Oil Corporation Ltd. (IndianOil) is India's largest commercial enterprise, with a sales turnover of Rs. 2,47,479 crore (US $ 61.70 billion) and profits of Rs. 6,963 crore (US $ 1.74 billion) for the year 2007-08.
IndianOil is also the highest ranked Indian company in the prestigious Fortune 'Global 500' listing, having moved up 19 places to the 116th position in 2008. It is also the 18th largest petroleum company in the world.
India’s Downstream Major
Beginning in 1959 as Indian Oil Company Ltd., Indian Oil Corporation Ltd. was formed in 1964 with the merger of Indian Refineries Ltd. (established 1958). IndianOil and its subsidiaries account for approximately 48% petroleum products market share, 34% national refining capacity and 71% 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 (MMTPA, .i.e. 1.2 million barrels per day). These include two refineries of subsidiary Chennai Petroleum Corporation Ltd. (CPCL).
The Corporation's cross-country network of crude oil and product pipelines, spanning more than 10,000 kms 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. 43,393 crore (US $10.8 billion) during the period 2007-12 in augmentation of refining and pipeline capacities, expansion of marketing infrastructure and product quality upgradation as well as in integration and diversification projects.
Network Beyond Compare
As the flagship national oil company in the downstream sector, IndianOil reaches precious petroleum products to millions of people everyday 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 & 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.
IndianOil's ISO-9002 certified Aviation Service commands over 63% market share in aviation fuel business, meeting the fuel needs of domestic and international flag carriers, private airlines and the Indian Defence Services. The Corporation also enjoys a dominant share of the bulk consumer business, including that of railways, state transport undertakings, and industrial, agricultural and marine sectors.
Technology SolutionsIndianOil's world-class R&D Centre is perhaps Asia's finest. Besides pioneering work in lubricants formulation, refinery processes, pipeline transportation and alternative fuels, the Centre is also the nodal agency of the Indian hydrocarbon sector for ushering in Hydrogen fuel economy in the country. It has set up a commercial Hydrogen-CNG station at an IndianOil retail outlet in New Delhi this year. The Centre holds 214 active patents including 113 international patents.
IndianOil joined the league of global technology providers last year with the selection of its in-house developed INDMAX technology (for maximising LPGas yield) for the 4 MMTPA Fluidised Catalytic Cracking (FCC) unit at the Corporation's upcoming 15 MMTPA grass root refinery at Paradip in Orissa, as well as for the FCC unit coming up at BRPL.
A wholly-owned subsidiary, IndianOil Technologies Ltd., is engaged in commercialising the innovations and technologies developed by IndianOil's R&D Centre.
Customer FirstAt IndianOil, customers always get the first priority. New initiatives are launched round-the-year for the convenience of the various customer segments.
Exclusive XTRACARE petrol & diesel stations unveiled in select urban and semi-urban markets offer a range of value-added services to enhance customer delight and loyalty. Large format Swagat brand outlets cater to highway motorists, with multiple facilities such as food courts, first aid, rest rooms and dormitories, spare parts shops, etc. Specially formatted Kisan Seva Kendra outlets meet the diverse needs of the rural populace, offering a variety of products and services such as seeds, fertilisers, pesticides, farm equipment, medicines, spare parts for trucks and tractors, tractor engine oils and pump set oils, besides auto fuels and kerosene. SERVOXpress has been launched recently as a one-stop shop for auto care services.
To safeguard the interest of the valuable customers, interventions like retail automation, vehicle tracking and marker systems have been introduced to ensure quality and quantity of petroleum products.
Synergy through Subsidiaries A wholly-owned subsidiary, IndianOil Technologies Ltd., is engaged in commercialising the innovations and technologies developed by IndianOil's R&D Centre, across the globe. The year 2008-2009 saw the seamless merger of the refining subsidiary Bongaigaon Refinery & Petrochemicals Ltd with the parent company IndianOil.
Widening HorizonsTo achieve the next level of growth, IndianOil is currently forging ahead on a well laid-out road map through vertical integration— upstream into oil exploration & production (E&P) and downstream into petrochemicals – and diversification into natural gas marketing, besides globalisation of its downstream operations.
In petrochemicals, IndianOil is envisaging Rs. 30,000 crore (US$ 7.4 billion) investment by the year 2011-12. Through the world’s largest single-train Linear Alkyl Benzene (LAB) plant with an annual capacity of 1,20,000 tonnes set up at its Gujarat Refinery, the Corporation has already captured a significant market share of LAB in India, besides
exporting the product to Indonesia, Turkey, Thailand, Vietnam, Norway and Oman. A world-scale Paraxylene/Purified Terephthalic Acid plant (annual capacities: PX - 3,63,000 tonnes, PTA – 5,53,000 tonnes) for polyester intermediates is already in operation at Panipat, while a Naphtha Cracker with a capacity of 800,000 tonnes of ethylene per annum, equipped with downstream polymer units is also coming up at Panipat. A refinery-cum-petrochemicals complex at Paradip, to be completed by the year 2011-12, will strengthen the Corporation’s presence in the sector.
In E&P, IndianOil has bagged eight oil & gas blocks and two Coal Bed Methane blocks under NELP (New Exploration Licencing Policy) rounds in India, in consortium with other companies. It has also acquired participating interest in two onshore blocks in Assam and Arunachal Pradesh. Overseas ventures of the Corporation include two blocks in Sirte Basin and Areas 95/96 in Ghadames basin of Libya, Farsi Exploration Block in Iran, onshore farm-in arrangements in Gabon, an onland block in Nigeria and two onshore blocks in Yemen. IndianOil has incorporated Ind-OIL Overseas Ltd. – a special purpose vehicle for acquisition of overseas E&P assets – in Port Louis, Mauritius, in consortium with Oil India Ltd. (OIL).
In natural gas business, IndianOil is targeting sale of 2 million tonnes in 2008-09. A technology innovation has been initiated to reach LNG (Liquefied Natural Gas) directly to the doorstep of bulk consumers in cryogenic containers for industrial as well as captive power applications. An LNG import terminal is proposed to be set up at Ennore near Chennai. City gas distribution projects are in the pipeline in partnership with other companies.
For over a decade now, IndianOil has been providing technical and manpower secondment services to overseas companies. Consultancy services for reduction of Fluidised Catalytic Cracker (FCC) shutdown time were also provided during the year 2007-08.
The Corporation’s wholly-owned subsidiary, IndianOil Technologies Ltd., is engaged in commercialising the innovations and technologies developed by IndianOil's R&D Centre.
IndianOil has set up subsidiaries in Sri Lanka, Mauritius and the United Arab Emirates (UAE), and is simultaneously scouting for new opportunities in the energy markets of Asia and Africa.
Lanka IOC Ltd. operates about 150 petrol & diesel stations in Sri Lanka, and has a very efficient lube marketing network. Its oil terminal at Trincomalee is also Sri Lanka's largest petroleum storage facility. Lanka IOC commissioned an 18,000 tonnes per annum capacity lubricants blending plant and a state-of-the-art fuels and lubricants testing laboratory at Trincomalee during 2007-08 besides commencing bunkering business.
IndianOil (Mauritius) Ltd. has an overall market share of nearly 20% and commands a 32% market share in aviation fuelling business, apart from its bunkering business. It operates a modern petroleum bulk storage terminal at Mer Rouge port, besides 13 petrol & diesel stations. In addition to the ongoing expansion of retail network, IOML has commissioned the first ISO-9001 product-testing laboratory in Mauritius.
The Corporation's UAE subsidiary, IOC Middle East FZE, which oversees business expansion in the Middle East, has commenced blending SERVO lubricants and marketing petroleum products and lubricants in the Middle East, Africa and CIS countries.
Performance during financial year 2008-2009 IndianOil's Gross Turnover (inclusive of excise duty) for the year 2008-09 reached a new high of Rs. 2,85,337 crore, up by 15.3 % as compared to Rs. 2,47,457 crore in the previous year. The Profit After Tax was Rs. 2,950 crore.
The Corporation sold 62.6 million tonnes of petroleum products during the year 2008-09, as compared to 59.30 million tonnes during the previous year. This includes sale of natural gas, which has gone up to 1.7 million tonnes in 2008-09. In addition, product exports rose to 3.64 million tones from 3.38 million tones in the previous year.
The Corporations eight refineries surpassed 100% capacity utilisation and clocked the highest ever throughput of 51.4 million tonnes. Its pipelines network too registered the highest ever operational throughput of 59.5 million tonnes of crude oil and petroleum products. Among new businesses, Natural Gas Marketing and Petrochemicals together generated revenues of over Rs 5,100 crore during the year 2008-2009.
IndianOil. India Inspired. As a leading public sector enterprise of India, IndianOil has successfully combined its corporate social responsibility agenda with its business offerings, meeting the energy needs of millions of people everyday across the length and breadth of the country, traversing a diversity of cultures, difficult terrains and harsh climatic conditions. The Corporation takes pride in its continuous investments in innovative technologies and solutions for sustainable energy flow and economic growth and in developing techno-economically viable and environment-friendly products & services for the benefit of its consumers.
IndianOil Major Units Registered Office Registered Office IndianOil Bhavan,
G-9, Ali Yavar Jung Marg,Bandra (East), Mumbai -400 051
IndianOil (Mauritius) Ltd. Mer RougePort Louis Maruritius
IOC Middle East FZE LOB 14209, Jebel Ali Free Zone,P.O.Box: 261338
Lanka IOC PLC Lanka IOC Head OfficeLevel 20, West Tower,World Trade Center, Echelon Square, Colombo - 01, Sri Lanka.
IndianOil Major Projects
IndianOil continues to lay emphasis on infrastructure development. Towards this end, a number of schemes have been initiated with increasing emphasis on project execution in compressed schedules as per world benchmarking standards. Schemes for improvement and increased profitability through debottlenecking / modifications / introduction of value added products are being taken up in addition to grassroots facilities. Project systems have been streamlined in line with ISO standards.
GRASSROOTS REFINERY PROJECT AT PARADIP (ORISSA)
Project Cost: Rs. 29,777.00 crore
Expected Commissioning: March, 2012
Benefit: The project will help in partly meeting deficit of distillates viz. LPG, Naphtha, MS, Jet/Kero, Diesel and other products, in the eastern part of the country. The complex will generate intermediate petrochemicals feedstock.
Brief Description: A 15 MMTPA grassroots refinery is being constructed at Paradip in the State of Orissa. The refinery will have, apart from a Crude and Vacuum Distillation Unit, a Hydrocracking Unit, a Delayed Coker Unit and other secondary processing facilities. This will be the most modern refinery in India with nil residue production and the products would meet stringent specifications. 3344 acre of land has been taken over by IndianOil and necessary infrastructure development jobs prior to setting up of the main refinery are progressing.
RESIDUE UPGRADATION AND MS/HSD QUALITY IMPROVEMENT PROJECT AT GUJARAT REFINERY
Project Cost: Rs. 5,882.00 crore
Expected Commissioning: January, 2010
Benefit: The objectives of the project are multifold. It shall ensure meeting product quality requirement of MS/HSD to EURO-III/IV levels, processing increased quantity of high sulphur crude and improvement in distillate yield.
Brief Description: The project envisages setting up of a number of units like VGO-HDT, ATF-Merox, FCC-Merox, LPG-Merox, ISOM, Coker, DHDT, HGU (PDS) and SRU.
IMPROVEMENT IN DIESEL QUALITY AND CAPACITY EXPANSION AT HALDIA REFINERY (WEST BENGAL)
Project Cost: Rs. 2,869.00 crore
Expected Commissioning: December, 2009
Benefit: Improvement in quality of HSD conforming to Euro-II/Euro-IV equivalent norms. In addition, it will improve the distillate yield and crude processing capacity of the refinery.
Brief Description: The project comprises installation of facilities for improvement in Diesel quality and Distillate yield (Hydrocracker) at Haldia and the capacity expansion of the Refinery from 6 MMTPA to 7.5 MMTPA. This involves Once through Hydrocracking Unit (OHCU), Hydrogen Unit, Sulphur Recovery Units, revamp of Crude Distillation Units and related utilities & offsite facilities.
NAPHTHA CRACKER AND POLYMER COMPLEX AT PANIPAT (HARYANA)
Project Cost: Rs. 14,439.00 crore
Expected Commissioning: November 2009
Benefit: This project is a cornerstone for IndianOil's entry into petrochemicals and a new business line for growth. For the State of Haryana, this project shall lay the foundation for creation of a world-class petrochemicals hub, which will engender significant industrial activity in the coming years.
Brief Description: The project envisages setting up of a Naphtha Cracker based on captive utilisation of naphtha from Panipat, Mathura and Koyali refineries of IndianOil. With a capacity of 800,000 MT/year of ethylene production, the Cracker complex will have associated units viz. hydrogenation, butadiene extraction, benzene extraction etc. besides downstream polymer units like swing unit (LLDPE/HDPE), a dedicated HDPE unit, Polypropylene unit and MEG unit.
MS QUALITY UPGRADATION PROJECT AT PANIPAT REFINERY (HARYANA)
Project Cost: Rs. 1,131.00 crore
Expected Commissioning: December, 2009
Benefit: The implementation of this project will improve the quality of MS to conform to Euro-II/Euro-IV equivalent norms.
Brief Description: The major process units under this project are PENEX (Isomerisation), Naphtha HTU, Reformate Splitter and FCC Gasoline Desulpurisation Unit.
FCC GASOLINE DESULPHURISATION UNIT AT MATHURA REFINERY (UTTAR PRADESH)
Project Cost: Rs. 348.00 crore
Expected Commissioning: December, 2009
Benefit: The implementation of this project will improve the quality of MS to conform to Euro-IV equivalent norms.
Brief Description: In this project a FCC Gasoline Desulpurisation Unit would be installed.
MS QUALITY UPGRADATION PROJECT BARAUNI REFINERY (BIHAR)
Project Cost: Rs. 1,492.00 crore
Expected Commissioning: June, 2010
Benefit: The implementation of this project will improve the quality of MS to conform to Euro-III equivalent norms.
Brief Description: The major process units under this project are Isomerisation, Naphtha Hydrotreater, Reformate Splitter, FCC Gasoline Desulpurisation Unit and Hydrogen Generation Unit.
MS QUALITY UPGRADATION PROJECT AT GUWAHATI REFINERY (ASSAM)
Project Cost: Rs. 372.00 crore
Expected Commissioning: June, 2010
Benefit: The implementation of this project will improve the quality of MS to conform to Euro-III equivalent norms.
Brief Description: The major process units under this project are Isomerisation, Light Naphtha Splitter, Naphtha Hydrotreater and Indmax Gasoline Splitter.
MS QUALITY UPGRADATION PROJECT AT DIGBOI REFINERY (ASSAM)
Project Cost: Rs. 356.00 crore
Expected Commissioning: June, 2010
Benefit: The implementation of this project will improve the quality of MS to conform to Euro-III equivalent norms.
Brief Description: The major process units under this project are Isomerisation, Naphtha Splitter, Naphtha Hydrotreater and Reformate Splitter.
DADRI-PANIPAT R-LNG SPUR PIPELINE
Project Cost: Rs. 298.00 crore
Expected Commissioning: May, 2009
Benefit: The 132 km long 30 inch diameter spurline carrying regassified LNG (R-LNG) will stretch from GAIL India’s Dadri terminal in UP to Panipat.
Brief Description: The proposed R-LNG pipeline would provide for an economical means of feeding natural gas to Panipat refinery.
AUGMENTATION OF MUNDRA – PANIPAT CRUDE OIL PIPELINE
Project Cost: Rs. 165.00 crore
Expected Commissioning: February, 2009
Benefit: This is a low cost expansion scheme of Mundra-Panipat crude oil pipeline system for meeting the additional crude oil requirement of Panipat refinery to the tune of 3 MMTPA.
Brief Description: Project consists of laying a 22 inch diameter 20 KM long loopline in Kot-Beawar section and conversion of Radhanpur scraper station to pumping station while adding pumping units at Mundra, Kot, Sanganer and Rewari.
PANIPAT REFINERY EXPANSION FROM 12 MMTPA TO 15 MMTPA
Project Cost: Rs. 1,007.83 crore
Expected Commissioning: December, 2009
Benefit: To meet the growing deficit of petroleum products in the high demand Northwest region of India.
Brief Description: The project consists of capacity revamp of Crude and Vacuum Distillation Units (CDU / VDU), Once through Hydrocracking Unit (OHCU), Delayed Coking Unit, and installation of second stage reactors in Diesel Hydrotreating Unit (DHDT).
CHENNAI - BANGALORE PRODUCT PIPELINE
Project Cost: Rs. 273.00 crore
Expected Commissioning: December, 2009
Benefit: The pipeline will facilitate effective evacuation of products from CPCL refinery in Chennai and ensure uninterrupted, regular and economical transportation of petroleum products to Bangalore-fed areas in a cost-effective manner.
Brief Description: Project consists of laying 14/12-inch diameter 290 km long product pipeline from CPCL refinery, Chennai to existing TOP at Devanagonthi (Bangalore).
Recognitions IndianOil has been recognised as a leading player in the country’s energy sector with its well known brands. Log into this section to know more about the awards bestowed upon the company for sustained deliverance of quality. This recognition speaks volumes about the focussed executive management at IndianOil that directs and motivates the firm and its employees towards larger goals.
Products IndianOil is not only the largest commercial enterprise in the country it is the flagship corporate of the Indian Nation. Besides having a dominant market share, IndianOil is widely recognized as India’s dominant energy brand and customers perceive IndianOil as a reliable symbol for high quality products and services.
Benchmarking Quality, Quantity and Service to world-class standards is a philosophy that IndianOil adheres to so as to ensure that customers get a truly global experience in India. Our continued emphasis is on providing fuel management solutions to customers who can then benefit from our expertise in efficient sourcing and least cost supplies keeping in mind their usage patterns and inventory management.
IndianOil is a heritage and iconic brand at one level and a contemporary, global brand at another level. While quality, reliability and service remains the core benefits to our customers, our stringent checks are built into operating systems, at every level ensuring the trust of over a billion Indians over the last four decades.
Our Retail Brand template of XtraCare(Urban), Swagat(Highway) and Kisan Seva Kendras(Rural) are widely recognized as pioneering brands in the petroleum retail segment. IndianOil’s leadership extends to its energy brands - Indane LPG, SERVO Lubricants, Autogas LPG, XtraPremium Branded Petrol, XtraMile Branded Diesel, XtraPower Fleet Card, IndianOil Aviation and XtraRewards cash customer loyalty programme.
FINANCIAL STATEMENTS FOR INDIAN OIL CORP. LTD. (IOC)
Although debt as a percent of total capital increased at Indian Oil Corp. Ltd. over the last fiscal year to 45.87%, it is still in-line with the Oil, Gas and Consumable Fuels industry's norm. Additionally, even though there are not enough liquid assets to satisfy current obligations, Operating Profits are more than adequate to service the debt. Accounts Receivable are among the industry's worst with 9.20 days worth of sales outstanding. This implies that revenues are not being collected in an efficient manner. Last, Indian Oil Corp. Ltd. is among the most efficient in its industry at managing inventories, with only 59.72 days of its Cost of Goods Sold tied up in inventory.
BALANCE SHEETCurrency inMillions of Indian Rupees
As of: Apr 022005
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Cash and Equivalents 13,737.1 10,528.5 10,767.3 10,602.2
