Top 10 Public Sector (PSU) Companies in India 2015
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6. Indian Oil Corporation Limited
Indian Oil Corporation Limited or IndianOil is a state owned oil and gas corporation with headquarters in New Delhi.
Image: company website
The government of India owns 69% stake in the company. The company is the 96th largest corporation in the world according to Fortune Global 500 list.
It is also one of the seven Maharatna status companies of India.
IndianOil began its operations in the year 1958 as Indian Oil Company Limited. Indian Oil Corporation was formed when Indian Oil Company was merged with Indian Refineries Limited. The main products produced by IndianOil are petrol, diesel, LPG, kerosene, lubricants and petrochemicals, naphtha, bitumen, etc. IndianOil is responsible for operating the largest and the widest network of fuel stations in the country.
The different of the company under which it sells its products are as follows:
• Indane Gas
• Xtra Premium
• Xtra Mile
• IndianOil Aviation
• LNG at Doorstep
The important services offered by the company include refining, marketing, pipelines and R&D. IOCL has various refineries in India located in places such as in Assam:
• Digboi Refinery which is the oldest refinery in India incorporated in 1901
• Guwahati Refinery which is the first Indian public sector refinery
• Bongaigaon Refinery which is the eigth refinery of IndianOil
in Bihar: Baruneri Refinery which was built in collaboration with Russia and Romania, in Gujarat: Gujarat Refinery at Koyali which is IndianOil’s second largest refinery, in West Bengal: Haldia Refinery which is the only coastal refinery of the corporation, Mathura Refinery in Uttar Pradesh, Panipat Refinery in Haryana and Paradip refinery in Odisha.
IndianOil faces competition from two major publicly owned producers namely Bharat Petroleum and Hindustan Petroleum and two major private players namely, Reliance Industries and Essar Oil.