IndianOil Performance : 2017-18
Mr. Sanjiv Singh, Chairman, IndianOil sharing IndianOil's Financial Results 2017-18 at Corporation's Annual Press Conference
Indian Oil Corporation Ltd, the country’s largest commercial enterprise and the top-ranked Indian corporate in Fortune’s ‘Global 500’ listing, put up a superlative show in the year 2017-18 across all its business verticals in its continuing quest to fuel the growth of a resurgent New India. IndianOilPeople went the extra mile to energise and empower all sectors of the economy and all sections of society, reaching a wide range of products & services through over 48,000 customer touch-points spread across the length and breadth of the country.
According to Mr. Sanjiv Singh, Chairman, IndianOil, “The credit for this excellent performance goes to the 33,125 multi-talented and dedicated IndianOilPeople who work in unison across functions and Divisions to serve the country through serving its 1.25 billion citizens. We are observing the current year as the Year of Trust to demonstrate this core corporate value as it is the one thing that changes everything in business and life,” he added.
During the year 2017-18, IndianOil sold 88.76 million tonnes of products (including Petroleum products, Gas, Petrochemicals, Explosives and Exports); IndianOil refineries clocked a throughput of 69 million tonnes; and the cross-country network of pipelines registered the highest ever throughput of 85.67 million tonnes in the year.
IndianOil continued to spearhead the country’s transition to green fuels during the year. In November 2017, the Government of India advanced the rollout of BS-VI compliant fuels in the National Capital Territory (NCT) by two years. The IndianOil teams rose to the occasion and tweaked refinery configurations, flushed supply lines and made sure that the advanced timeline was met.
The fiscal signaled the Corporation’s ambitious plan to nearly double its present installed group refining capacity of 80.7 million metric tonnes per annum (MMTPA) to an estimated 150 MMTPA by the year 2030 through both brownfield and greenfield routes. This includes refineries of IndianOil, subsidiary Chennai Petroleum Corporation Ltd. (CPCL) and the upcoming JV project Ratnagiri Refinery & Petrochemicals Ltd. (RRPCL).
The year 2017-18 marked yet another year of expansion and consolidation as IndianOil pipelines achieved the highest-ever throughput of 84.50 MMT, surpassing the previous record by 3%. The network has now grown to nearly 13,400 km with a cumulative throughput capacity of 94.79 MMTPA (crude oil and product pipelines) and 9.5 MMSCMD (gas pipeline).
An all-time high LPG sales of 10.8 MMT was registered during the year. 1.3 crore new LPG connections were released during the year, including over 72 lakh under Pradhan Mantri Ujjwala Yojana. This is the third consecutive year wherein IndianOil has released more than one crore LPG connections in a financial year. Since the launch of PMUY in May 2016, IndianOil has released more than 1.67 crore new LPG connections under the scheme, out of about 3.5 crore PMUY connections released by the industry.
Keeping all parts of the vast nation well supplied with essential petroleum products is a 24/7 commitment that involves utmost dedication of IndianOilPeople. In its constant pursuit of getting closer to the customer, IndianOil expanded its customer touchpoints to over 48,000 across the nation.
IndianOil’s domestic sales grew by 3.6% to 81.48 million tonnes.
IndianOil Retail is the key determinant of its market leadership. Thus it is the Corporation’s constant endeavour to keep in step with the changing customer aspirations, competitive trends and the new technologies. Therefore Project Dhruva, a holistic retail transformation project is being deployed and scaled up in phases across the pan-India fuel retail network to ensure dominance in the sector. Essentially, it is geared to reinforce customer centricity and enhance network potential.
During the year, over 950 fuel stations were commissioned including 502 Kisan Seva Kendra outlets and 16 large-format fuel stations. Its total network of pump stations across the country stood at over 27,000 in urban and rural markets. IndianOil led the industry in fuel station solarisation with 2,500 fuel stations switching over to solar energy for daily operations. With a total of over 8,800 pump stations now solarised, over 32% of the Company’s retail network now runs on solar power. As part of its tie-up with Energy Efficiency Service Ltd., IndianOil marketed eco-friendly and energy-efficient products like LED bulbs, tube lights and fans worth over Rs. 736 lakh through from over 1,000 fuel stations across the county in just six months.
CNG facilities were commissioned at 100 fuel stations during the year, the highest-ever number, with 3.29% increase in market share. With growing CNG market share, IndianOil became the No. 1 CNG company among the PSU oil marketing companies. Digital payment infrastructure provided at over 95% of IndianOil fuel stations, with atleast three modes of cashless acceptance, is generating daily transactions worth Rs. 200 crore.
Institutional Business was also strengthened by reinforcing bonds with the esteemed consumers. In line with thrust on customization, IndianOil developed products such as Polymer Molecular Bitumen (PMB)-40, Bitumen VG-30 and VG- 40. Also, in the wake of the ban on use of furnace oil (FO) in the National Capital Region (NCR), Low Sulphur Heavy Stock (LSHS) Premium was swiftly introduced in the market.
Indane, the popular LPG brand of India continued to lead the second LPG revolution in the country. An all-time high LPG sales of 10.8 MMT was registered during the year. 1.3 crore new LPG connections were released during the year, including over 72 lakh under Pradhan Mantri Ujjwala Yojana. This is the third consecutive year wherein IndianOil has released more than one crore LPG connections in a financial year. Since the launch of PMUY in May 2016, IndianOil has released more than 1.67 crore new LPG connections under the scheme, out of about 3.5 crore PMUY connections by the industry.
By the end of the fiscal, 12.69 crore LPG customers were being supplied by 10,213 Indane distributors across the country. During the year, IndianOil launched Indane Jumbo (425 kg) LPG cylinder for industrial use. Sales of Indane Nanocut, high therm cutting gas for industrial use, grew by 154% during the year.
SERVO world-class lubricants
SERVO is the brand leader in lubricants & greases in India and serves as a one-stop shop for complete lubrication solutions in the automotive, industrial and marine segments. The finished lubricants segment registered a 0.7% growth, with volume gains of 1.5 KL and the highest-ever volume sale in Institutional Lubes segment. New products Futura G Plus for use in both MS and HSD-driven passenger cars and SERVO 4T Bullet for motorcycles were launched while the environment-friendly SERVOGreen registered a stellar growth of 18.2% in overseas markets. New SERVO distributors were appointed for Bangladesh, Kuwait and Iraq. With entry into Congo, Kuwait and Iraq during the year, SERVO’s global footprint now covers 30 international markets.
IndianOil Aviation maintained its market leadership with enhanced share of 61%. New Aviation Fuel Stations (AFS) commenced operations at Puducherry, Kadapa and Shillong, raising their total to 107. To boost regional air connectivity, IndianOil commenced aviation refuelling at nine locations, viz. Shimla, Bhatinda, Porbander, Puducherry, Kaddapa, Bikaner, Jaisalmer, Nashik and Agra during the year. IndianOil Aviation extended full support to the Indian Air Force (IAF) for relief & rescue operations during natural calamities in Gujarat, Rajasthan and Bihar during the year, carrying out over 100 refuellings. IndianOil also closely associated with IAF during war simulation exercises at Kalaikunda, Agra, Bareilly, Jamnagar, and Andaman & Nicobar.
IndianOil Refineries charted a progressive blueprint to strengthen core competencies, through brownfield expansions, integration, value-addition, increased sustainability and adoption of innovative technologies both global and in-house.
With Paradip Refinery running at 100% capacity, the Corporation’s Refineries achieved a record crude oil throughput of 69 MMT during the year 2017-18 as against the previous year’s throughput of 65.20 MMT. The year saw the finest performance of IndianOil refineries (excluding Paradip) on all major energy parameters of fuel & loss (F&L: 8.30%), Specific Energy Consumption (MBN: 72.6) and Energy Intensity Index (EII: 99.0). The refineries also registered the highest ever production of Motor Spirit (Petrol), High Speed Diesel, ATF, LPG, Bitumen, Polypropylene and Linear Alkyl Benzene during the year.
To boost flexibility in crude oil sourcing, the Corporation’s crude oil basket was expanded with inclusion of 16 new grades, of which 11 were of US origin. Processing of cheaper, heavy & high-TAN grades was stepped up to over 58.4% during the year, compared to 51.6% in the previous year. Processing of high-sulphur crude oil was also higher at 18.6% compared to 16.2% in the previous year.
IndianOil’s countrywide network of crude oil, liquid and gas pipelines has been its major strength in reaching out to new markets and customers in a safe and eco-friendly manner and sustaining its competitive advantage as the least-cost supplier. IndianOil’s network of cross-country pipelines carrying crude oil and petroleum products now spans ~13,400 km with a cumulative throughput capacity of 94.20 MMTPA (crude and product pipelines) and 9.5 MMSCMD (gas pipeline).
Major achievements during the year include highest-ever pipeline throughput of 85.675 MMT. Single Point Mooring (SPM) facilities on the east and west coasts were expanded and optimised during the year to ensure uninterrupted crude oil supply to refineries. A SPM buoy was replaced at Vadinar on the west coast. Simultaneous berthing of tankers commenced at Paradip for smooth transfer of crude oil to Paradip, Haldia, Barauni, Bongaigaon and Guwahati refineries.
A fibre optics-based pipeline intrusion detection system was implemented in the Panipat-Jalandhar LPG pipeline and is under implementation at other units too. Several pipeline projects with a capital outlay of Rs. 20,000 crore are under implementation. On completion of these projects, IndianOil’s pipeline network would expand to about 20,000 km in length, the capacity of liquid pipelines to about 118 MMTPA and that of gas pipelines to 62.71 MMSCMD.
Research & Development
The year was marked by deployment of major technologies developed by IndianOil R&D at its refineries. An Octamax unit, based on technology developed by IndianOil, was commissioned at the Mathura Refinery to produce high-octane fuel for BS-VI petrol. Intellectual property soared during the year with 50 patents (12 Indian & 38 overseas) granted to IndianOil during the year, taking the total number of active patents to 611. The year 2017-18 also marked many OEM approvals & commercialisation of lubricants, besides major milestones in development of refining technologies.
During the year, a BS-VI emission test facility was commissioned at R&D Centre for all types of fuels such as petrol, diesel, ethanol-blended petrol, bio-diesel, CNG, LNG, Hydrogen-CNG and 2G-ethanol blends as per the superior BS-VI norms. India’s quest for clean energy solutions crossed an important milestone with the commencement of demonstration trials on the country’s first hydrogen fuel cell-powered bus at the R&D Centre. For demonstration and scaling up of technologies developed in-house at IndianOil R&D, a second campus of the R&D Centre is also coming up. The first phase of technology deployment from the new campus is expected to commence from 2019-20.
In line with the Corporation’s commitment to reduce CO2, IndianOil R&D also signed a Statement of Intent with M/s Lanzatech, USA, for conversion of refinery off-gases to ethanol through a bio route. A pilot plant based on this technology has been installed at the R&D Centre. Letters of Intent for collaboration were signed with M/s. Hanergy, Israel, for metal-air battery for energy storage applications, and M/s. YEDA, Israel, for solar-to-green fuel technologies through the compressed solar power route.
Under the IndianOil Start-Up programme, 11 projects were selected for funding and incubation. The projects are being mentored by in-house domain experts along with NRDC, the administering & mentoring organisation.
IndianOil’s growing business verticals of Petrochemicals, Natural Gas, Exploration & Production, Alternative Energy and International Expansion are now integral business drivers for the Corporation.
IndianOil clocked petrochemicals sales of 2.36 million tonnes (including exports) during the year 2017-18. Riding on strong consumer demand and growing patronage, the footprint of IndianOil’s PROPEL brand petrochemicals expanded to 75 countries. In a move aimed at expanding its share-of-voice in the petrochemicals sector, the Corporation organised two key events - the Petrochemicals Conclave (sixth edition) in Gandhinagar and a first-of-its-kind Petrochemical Investors’ Conclave in Bhubaneswar. Hosted under the aegis of the parent Ministry, the Bhubaneswar event highlighted the emerging investment opportunities in the petrochemicals sector in Eastern India riding on the 700-KTA Polypropylene (PP) unit and Mono Ethylene Glycol (MEG) unit coming up at Paradip Refinery. IndianOil has also signed an MoU with IDCO (Industrial Development Corporation of Odisha) for setting up a Plastics Park at Paradip.
Reflecting the changing energy mix in India and taking strides towards making the country a ‘gas-based economy’, IndianOil’s gas business grew by 2% during 2017-18 to 3.866 million tonnes. This includes gas consumption for internal use. Due diligence is underway to acquire equity stake in LNG terminals coming up at Dhamra and Mundra. IndianOil is collaborating with fleet owners and auto manufacturers such as Volvo Eicher Commercial Vehicles Ltd. and Mahindra & Mahindra to promote the use of LNG as transportation fuel.
IndianOil, through its joint venture IndianOil LNG Pvt. Ltd., is setting up a 5- MMTPA LNG terminal at Kamarajar Port in Ennore that is to be commissioned in 2018-19. IndianOil is also developing natural gas pipelines through joint venture companies which includes at 1,500-km natural gas pipeline grid in the Northeast to connect Guwahati to major cities in the region, such as Itanagar, Numaligarh, Dimapu, Imphal, Aizwal, Agartala, Shillong, Silchar and Gangtok.
IndianOil offers natural gas as auto fuel through its City Gas Distribution network in a growing number of cities including Lucknow, Agra, Allahabad, Chandigarh, Panipat, Daman, Ernakulam, Udham Singh Nagar, Dharwad, South Goa, Bulandshahr, Daman and Panipat. IndianOil is operating / implementing City Gas Distribution (CGD) networks in nine Geographical Areas through two joint ventures, Green Gas Ltd. and IndianOil-Adani Gas Pvt.
IndianOil is actively engaged in exploration activities in 9 domestic blocks and 10 overseas blocks, with participating interest ranging from 3% to 100%. The 10 overseas blocks are located in nine countries, i.e., UAE, Russia, Canada, USA, Venezuela, Libya, Nigeria, Gabon and Iran.
Annual production from the Corporation’s E&P assets rose by 65%, from 1.61 MMT in 2016-17 to 2.66 MMT this year. The cumulative production (of all assets since inception) went up by 93%, to 41,073 Mboe by the end of 2017-18 as compared to 21,255.8 Mboe by the end of 2016-17.
The year saw IndianOil’s first domestic exploration asset in Assam maturing from exploration stage to a producing asset. Production of gas and condensate commenced from the pre-NELP block AAP-ON-94/1 (rechristened as Dirok Field). IndianOil has 29.03% participating interest in this block that has reserves of ~7.2 MMBoe. The other consortium partners are HOEC (Operator & 26.9% PI) and OIL (44.1% PI).
IndianOil continued to acquire foreign acreage in diverse geographies across the world to strengthen its upstream portfolio. Major acquisitions were made in UAE & Oman during the year. The acquisition of 3% participating interest in Lower Zakum Concession, Offshore Abu Dhabi, was completed during the year in consortium with ONGC Videsh Ltd. and Bharat PetroResources Ltd. This transaction marked IndianOil’s entry in the highly prospective UAE region. With the acquisition of this asset, IndianOil's share of 2P reserve increased by 150 million barrels of oil equivalent (MMBoe) and daily production increased by ~12,000 Boe/day.
In line with the strategic objective of securing high-quality producing assets to strengthen its upstream portfolio, IndianOil acquired 17% participating interest in the Mukhaizna oil field in Oman from Shell through its wholly-owned subsidiary, IOCL Singapore Pte. Ltd. This is the Corporation’s first producing upstream acquisition in Oman. The Mukhaizna Oil Field is the single largest producing individual oil field in Oman, contributing ~13% of total Omani crude oil production with current production of 1,20,000 bbl/d.
IndianOil’s global footprint continued to expand during the year. A Representative Office in Yangon, Myanmar and a Branch Office in Dhaka, Bangladesh have been set up. IndianOil has also signed several agreements and MoUs with overseas partners during the year for cooperation in upstream & downstream hydrocarbons sector. An MoU was signed with PetroBangla, Bangladesh, for co-operation in supply of Regassified Liquefied Natural Gas (RLNG) to Bangladesh and development of pipeline infrastructure in the country.
Separate MoUs were signed with SOCAR Trading SA, Azerbaijan and Petroleum Oil and Gas Corporation of South Africa (SOC) Limited (PetroSA), South Africa, for collaboration across upstream and downstream sectors. An MoU was signed with TOTAL Oil India Pvt Ltd. India to explore the possibility of joint activities in production and marketing of specialty bitumen and bitumen derivatives in India; and collaboration in Research & Development for new formulations for specialty bitumen. IndianOil has been nominated by MoPNG as a nodal office for International Technical & Economic Collaboration (ITEC) capacity building programme for international participants in downstream sector.
With 167.6 MW wind-power projects commissioned in Gujarat, Andhra Pradesh and Rajasthan, the renewable power generated during the year was 288 million units (kWh), which corresponds to an emission reduction of 236 TMTCO2e (thousand metric tonnes carbon dioxide equivalent).
The total electricity generation from solar PV system during 2017-18 is 26 million units (kWh), which corresponds to an emission reduction of 21 TMTCO2e. Carbon and water footprinting of all Refineries, Pipelines installations, IiPM and R&D Centre was completed. For 2016-17, the carbon footprint was 19 million metric tonnes of carbon dioxide equivalent and water footprint was 98 billion litres.
IndianOil is replacing all the conventional lighting with LED lighting across its installations. So far, 3.11 lakh conventional lights have been replaced with LED. During April 2017 to February 2018, 1.69 lakh LED lights were installed. During 2017-18, 1.15 lakh trees were planted at various locations and units. Waste paper recycling is a major initiative taken by IndianOil. During the year, 118 tonnes of waste paper was recycled.
IndianOil has installed 558 rainwater harvesting systems that harvested 3.3 billion litres during 2017-18. It commissioned three waste-to-energy plants each of 5 tonnes per day capacity under the Swachch Bharat Abhiyan. These plants generated approx. 38,000 units (kWh) of power during the year. Two such systems were comissioned at Pahadiya Mandi and IDH Hospital during 2017-18. The electricity produced from generated biogas is used to energise street lights in the vicinity of each plant. IndianOil has signed MoUs with nine parties to retail Bio-CNG and compost through IndianOil retail channels.
CORPORATE SOCIAL RESPONSIBILITY
IndianOil is a responsible business entity and has a comprehensive CSR programme that focuses on specific areas like hygiene & sanitation, education & skilling, environment , sustainability, protection of national heritage and promotion of art & culture and rural development. Some important initiatives during the year were:
- The foundation stone for the permanent campus of the Skill Development Institute (SDI) set up by IndianOil at Bhubaneswar was laid by the Hon’ble President of India in March 2018.
- IndianOil, in collaboration with ICT-Mumbai is setting up the Institute of Chemical Technology Mumbai–IndianOil campus at Bhubaneswar to offer innovative programmes such as an integrated M. Tech., executive M. Tech. for industrial personnel as well as Ph.D. programmes. Hon’ble President of India inaugurated the campus.
- IndianOil Vidushi is a new flagship project that aims to provide specialised coaching for girl students for JEE Mains and Advanced. It will have an intake of 60 girl students/year at the two centres in Noida and Bhubaneswar starting from June 2018.
- IndianOil is also providing support to Govt. ITIs. Under IndianOil Gyanodaya, a Scholarships Scheme has been implemented for Govt. ITI/Polytechnic students. 9000 students will benefit from this scheme
- IndianOil undertook more than 10,000 cleanliness activities under Swachh Bharat Abhiyaan across the country. The activities included construction of public convenience complexes, installation of dustbins at public places, cleanliness awareness campaigns, tree plantation, etc.
- Under IndianOil’s flagship CSR schemes, Jal-jeevan & Surya Prakash, a 1,000 litres/hour RO water plant and 30 solar street lights were installed in Hope Town in South Andaman district.
- 50 computers were provided to a girls’ school in Haryana, benefitting nearly 2000 students to further the cause espoused by the Govt. of India under ‘Beti Padhao, Beti Bachao’ scheme.
- IndianOil constructed an enclosure for Asiatic lions in the 356-acre Mangaluru Biological Park that has a population of about 1000 animals. The park has a separate zoo spread over 185 acres and attracts nearly 6 lakh visitors annually.
The IndianOil Foundation
- The world class tourist-friendly Infrastructure facilities developed by IOF at the UNESCO world heritage site of Sun Temple at Konark were inaugurated during the year. The facilities include ample vehicle parking and public amenities such as toilet blocks, cafetaria, etc., an air-conditioned Interpretation Centre designed in the form of a new-age museum with an auditorium to seat 65 people, 5 display galleries with sculptures, murals and display panels depicting the history of the Sun Temple and the local culture.
- Similar facilities are being developed at Kanheri Caves, Mumbai; the Ashok Pillar at Kolhua, Bihar; the Khajuraho group of temples, Madhya Pradesh; the Bhoganandishwara Temple in Nandi Hills, Karnataka; the Chittorgarh Fort in Rajasthan; the Harappan site of Dholavira in Gujarat; and the Khaje Kalan Ghat in Patna.
Support to Sports
IndianOil’s policy of sports promotion harvested rich dividends during the year that saw a rich haul of medals and recognitions in the kitty of its sportstars. Some highlights are as follows:
- Ace shuttler Kidambi Srikanth had a dream run in the international circuit in 2017 became the first Indian player to claim four super series titles in a year ( Indonesia Open, Australia Open, French Open & Denmark Open).
- Rohan Bopanna in 2017 teamed up with Canadian Gabriela Dabrowski to win the French Open mixed doubles title, becoming only the fourth Indian to have won a Grand Slam.
- D Harika claimed a hat trick of bronzes at the World Championships in Tehran and was also adjudged the best woman player at the Reykjavik Open where she claimed six wins, two draws, two losses to finish seventeenth.
- SK Uthappa represented India in Men’s Hockey Asia Cup 2017 in October 2017. Indian team won the Gold Medal in the Tournament.
- Rohit Sharma, Ajinkya Rahane and Cheteshwar Pujara have been part of Indian team in different formats of the game and have been performing brilliantly for Team India.
- Prithvi Shaw was the captain of the Indian Under-19 team which won the Junior World cup in New Zealand in February.
- The Indian contingent to the Commonwealth Games-2018 at Gold Coast had 11 IOCians who brought a rich haul of 11 medals. Out of total 11 medals, 4 medals were won by Manika Batra in Women’s TT (2 Gold, 1 Silver and 1 Bronze) and 3 by ace TT player A Sharath Kamal (Gold, Silver and Bronze). Other medals won by Shri K Srikanth – 2 (Gold and Silver) 1 Gold by Sikki Reddy, 1 Silver medal by Mehuli Ghosh in 10m rifle shooting.
Indian Oil Corporation (IndianOil) is India's flagship national oil company with business interests straddling the entire hydrocarbons value chain - from refining, pipeline transportation and marketing of petroleum products, to exploration & production of oil and gas, marketing of natural gas, petrochemicals etc., It has presence in downstream operations, is emerging as a technology provider and is scaling up presence in the alternative energy space such as Biofuels, Wind Power and Solar Energy. A Maharatna enterprise, IndianOil is India's top corporate (Rank 168) in the Fortune 500 Global listing for 2017.
The IndianOil group of companies owns and operates 11 of India's 23 refineries and its 80.07 million metric tonnes per annum refining capacity is 35% of the national refining capacity. Its pan-India network of pipelines, largest in the country spans nearly 13,400 km and efficiently transports crude oil and petroleum products in a safe, economical and eco-friendly way.
IndianOil serves its vast customer base spread across the country through its unmatched network of over 48,000 customer touch points. This includes 27,000+ fuel stations, over 7,500 of which are Kisan Seva Kendra outlets in the rural markets.
IndianOil's Indane brand of LPG cooking gas serves over 12 crore households through over 10,000 distributors. Its 107 aviation fuel stations together refuel over 1,750 flights a day i.e. more than one flight per minute.
IndianOil: A Globally Admired Company
IndianOil was declared as Leader in the Downstream Category at the Platt’s Global Energy Award-2017. This global recognition is often compared to the Oscar Awards. Its successful downstream forays in Sri Lanka, Mauritius and UAE and its recent entry into Bangladesh, Myanmar heralds its emergence as global player.
IndianOil’s prowess in terms of successfully running 11 diverse refineries and our ability to process close to 200 types of crude oil also is recognised widely in the industry both in India & abroad. IndianOil’s state-of-the-art refinery at Paradip was hailed as Vikasdeep by Shri Narendra Modi, Hon’ble Prime Minister of India. Today as it is running full steam and as it is progressively integrated with petrochemicals complex it is proving to be gateway to prosperity and development in the states of eastern India.
Recently, HE Dr. Mohammed Barkindo, Secretary General fulfilled his long cherished dream by making a pilgrimage tour to IndianOil’s iconic Digboi refinery which is the world’s oldest operating refinery and located in the historic town where the oil industry was born in India.
IndianOil’s R&D Centre one of the finest in Asia is being expanded to boost its research prowess beyond lubes & refining technology; to areas like bio-fuels, nano-technology and battery storage among other horizon technologies.
Please visit www.iocl.com to know more.
|IndianOil Peformance 2017-18 |
| IndianOil sold 88.76 million tonnes of products including exports. Domestic POL sales at 81.48 million tonnes saw a growth of 3.6% over previous year. |
| With Paradip Refinery now working at full steam, IndianOil refineries achieved a crude oil throughput of 69 million metric tonnes (MMT) during the year. Mathura & Panipat Refineries commenced BS-VI grade auto fuel supplies well in time to meet the April 1, 2018 timeline for NCT Delhi. |
|IndianOil pipelines achieved the highest-ever throughput of 85.67 MMT, surpassing the previous record by 3.9% |
| IndianOil’s Petrochemicals marketed under the brand name PROPEL, registered the highest-ever sale of 2.36 million tonnes (including exports) entrenching itself as the second largest player in this growing business segment. IndianOil’s gas business grew by nearly 2% MMT during the year 2017-18 to 3.86 million tonnes. |
| An all-time high LPG sales of 10.8 MMT (million metric tonnes) was registered during the year. 1.3 crore new LPG connections were released during the year, including over 72 lakh under Pradhan Mantri Ujjwala Yojana. |
| IndianOil’s Smokeless Village Initiative under Pradhan Mantri Ujjwala Yojana Implementation bagged the first position under the Social Responsibility category at the 2nd World Petroleum Congress in Istanbul, Turkey. IndianOil also bagged the WPC Excellence Award for its innovative and ground-breaking INDMAX technology. |
|During the year, IndianOil achieved CAPEX (Prov.) of Rs. 20,345.21 crore, 100.91% of the overall CAPEX target of Rs. 20,161.79 crore. |
|The year also saw IndianOil’s first domestic exploration asset maturing from exploration stage to a producing asset. Production of gas and condensate commenced from the Dirok field in Assam. |
|RRPCL is being developed as the world’s largest integrated refinery-cum-petrochemicals complex in Maharashtra by an Indian consortium of IndianOil, BPCL and HPCL with Saudi Aramco and ADNOC. |
|The concept of ‘Smart terminals’ was introduced at 21 more locations during the year, taking their cumulative tally to 84. Over 3,000 more fuel stations were automated in a record time of five months, along with revamp of existing automation systems in 1,000 fuel stations. The cumulative number of automated fuel stations has now crossed the 13,000 mark, which is nearly 50% of IndianOil’s total retail network. VSAT connectivity provided to all automated ROs is ensuring real-time data transfer 24x7. |
|The year also saw growing adoption of technologies developed at IndianOil R&D within its refineries. Strengthening the ‘Make in India’ movement, the Octamax Unit that runs on home-grown technology, was successfully commissioned at Mathura Refinery. |
|To reduce input cost, IndianOil procured 12.1 MMT of cheaper opportunity crudes (heavy low-sulphur, heavy high-sulphur and high-TAN) during the year as compared to 11.3 MMT in the previous year. Over 125 crude combinations covering American regions have been included in the LS and HS tender basket of IndianOil. For the first time in India’s history, IndianOil imported crude oil from the USA, thus expanding its crude sourcing portfolio. |
|IndianOil recorded the highest-ever products export of 7.274 MMT during the year. |
| In sync with the expected demand for electric mobility, IndianOil is exploring opportunities to manufacture and retail Lithium-ion batteries. Fast-charging stations are also being planned. A pilot charging station has been put up at an IndianOil pump station each in Nagpur and New Delhi. |