An energy self-sufficient India can alter the economic, political and manufacturing
landscape of the region. Its quest for energy will create new economic and strategic
challenges, right from mobilising capital to engaging in subtle diplomacy.
IndianOil’s own performance in the financial year 2006-07 was a case of 'exceeding
expectations' with both turnover and profits reaching new highs, product sales registering
a quantum jump, and the refineries as well as pipelines network enhancing their
capacities beyond 60 MMTPA and registering record throughputs. New projects worth
Rs. 10,000 crore were put on stream during the year. Among new businesses, the petrochemicals
and natural gas verticals and participating interests in a clutch of oil & gas
assets in India and abroad has ensured expansion of the upstream portfolio.
IndianOil has ambitious investment plans of Rs. 43,250 crore in the next five years.
By 2011-12, the IndianOil Group, with 80 MMTPA refining capacity in its fold, would
be playing a key role in realising India’s bid to emerge as an export-oriented hub
for finished products. The pipelines network, which provides strategic logistics
advantage to the marketing operations, is also set to cross the 10,000 km mark in
the next two years.
In marketing, IndianOil is set to leverage the combined strength of over 32,000
marketing touch points, with focus on hitherto untapped rural markets, non-fuel
revenues and pure retailing business. IndianOil aspires to be Asia’s leading commercial
R&D organisation in the downstream hydrocarbon sector by building on its capabilities
in developing innovative technologies, products and processes, and nodal research
in alternative fuels.
Beyond core businesses, IndianOil is working to emerge as a major player in the
petrochemicals business by the year 2011-12, with two petrochemical hubs shaping
up at Panipat and Paradip. In natural gas business, it is attempting quantum growth
in LNG imports, infrastructure and marketing, besides city gas distribution. In
the high-risk business of oil exploration & production, IndianOil’s consortium
approach with established players is paying off well in terms of exceptional Government
support and successful forays in India and abroad. Its current interests are focussed
on oil equity and sourcing of natural gas, predominantly from African and CIS countries,
by leveraging its downstream capabilities to form joint venture partnerships with
reputed enterprises overseas.
With India’s energy needs projected to grow by 40% in the next five years, the future
is indeed full of promise for IndianOil; a future the 31,700 strong IndianOil team
shall build as they fuel the dreams of over a billion of their countrymen.