IndianOil - In every heart, in every part
New Delhi   10-Nov-2010

The energy industry experienced massive changeover a decade before and after the economic challenges that hit the world. The word “energy” incidentally equates with the Greek word for “challenge.” More than 2000 years since Aristotle, the Greek Philosopher gave the first technical definition of the word ‘energy’ (energeia), the world is still grappling with the energy challenge. According to International Energy Agency (IEA) projections, the world could potentially consume around 40% more energy in 2030 than it does today.

India is ranked the third largest economy in terms of gross domestic product (GDP) in purchasing power parity (PPP) terms after USA and China. With Indian economy projected to grow at a rapid pace over the next two decades, the demand for oil and gas is likely to increase at an annual rate of about 3.5 percent, resulting in the country gaining top position among the largest consumers in the next two decades, making India among the largest consumers of oil and gas in the world and this augurs well for the Indian Energy Sector.

In this challenging and changing energy milieu, Indian Oil Corporation Ltd., the country’s leading national oil company, is geared up to meet the challenges and fuel the growing Indian economy. In over 50 years of its existence, IndianOil has grown manifold. From a fledgling company with a net worth of just Rs. 45 crore and sales value of Rs. 78 crore in the year 1965 to achieving gross turnover of Rs. 2,71,074 crore (inclusive of excise duty) for the year 2009-10. The Profit After Tax (PAT) was Rs 10,221 crore.

Strongly driven by the highest ever sales of petroleum products and boosted by an increasing contribution from its Petrochemicals and Gas businesses, the nation’s largest corporate and its highest ranked Fortune ‘Global 500’ company, Indian Oil Corporation Ltd. (IndianOil) reported an excellent performance for the year 2009-10. IndianOil has also bagged the highest rank of 125 among the featured Indian companies in the list of the world's 500 largest companies for 2010 compiled by Fortune.

The year 2009-10 has been the third consecutive year of crossing the 100% capacity utilization mark despite planned revamp / M&I shut downs for implementation of quality up gradation projects in all the Refineries. In the fiscal year 2009-10, IndianOil Refineries achieved the highest combined distillate yield of 75.3 wt% while garnering a crude throughput of 50.7 Million Metric Tonnes.

 

Nothing can better encapsulate the expanse, reach and depth of IndianOil than the words – “IndianOil in every heart, in every part.” The company operates the largest and the widest network of petrol & diesel stations in Asia with over 35,000 marketing touch points, located across different terrains and regions of the Indian sub-continent. IndianOil is presently investing over Rs. 45,000 crore during XI Plan (2007-12) in augmenting refining and pipeline capacities, expanding marketing infrastructure and upgrading product quality as well as in integration and diversification projects. These will play significant role in providing impetus for achieving the competitive edge for greater productivity, competitive advantage and customer delight.

Considering the rising demand for energy to fuel the country’s growing economy, IndianOil plans to take the group refining capacity to 80.7 million tonnes per annum by the year 2011-12.