IndianOil Performance : 2020-21

IndianOil Gears Up to fight Second Wave
Despite Challenges displays Robust Performance during 20-21

Indian Oil Corporation Ltd. (IndianOil), in line with its philosophy of ‘India First’, led the Industry amidst the devastating pandemic to strengthen and expand the nationwide infrastructure across its Refineries, Pipelines and Marketing divi-sions. IndianOil met its targeted capital expenditure of Rs. 26,233 crore for the year 2020-21 and exceeded it with a total CAPEX spend of Rs 27,194 crore.

Addressing a virtual press conference today, Mr SM Vaidya, Chairman, IndianOil, acknowledged the collective strength, courage, resilience and synergy of the 32,000 plus employees, channel partners’ eco-system of over 4 lakh frontline workers, truck crew and other contract labour for standing united with inspirational fortitude overcoming personal challenges and maintaining all assets functioning normally. He saluted them for keeping the fuel supply lines going and serving the nation even during the peak of the pandemic.

Amidst the severe second wave, IndianOil continues to stand by the Nation by cutting down the production at its petrochemical plant at Panipat to produce Liq-uid Medical Oxygen (LMO) and supplying it to various hospitals in Delhi, Haryana & Punjab. On 19th April 2021, IndianOil dispatched the first load from its Panipat Refinery & Petrochemical Complex and is presently supplying 270 MT of medical grade oxygen per day. IndianOil is among the few entities entrusted by the Govt. of India to coordinate the logistics, transport & supply of oxygen. For this purpose, IndianOil is efficiently leveraging the dedicated app/portal ‘Sanjeevani Express’ to augment and strengthen the supply & logistics of medical grade oxygen across the country. It has already positioned 41 liquid oxygen-carrying vehicles (capacity of 780 MT) and is importing 207 ISO Containers for storage & transportation. The total carrying capacity of LMO will be 1760 MT by the end of May 2021, which will be enhanced to 5820 MT by the end of June 2021. Additionally, another ten road tankers (capacity of 20MT each) are being fabricated at IndianOil’s Cryogenic Plant at Nasik.

Displaying a sense of urgency, IndianOil, in association with the Govt. of Harya-na, has set up Oxygen supply through a pipeline to the newly set up fully equipped 500 bed Covid Care Centre close to the Panipat Refinery. The facility was inaugurated on 16th May ‘21 by Shri Dharmendra Pradhan, Hon’ble MoPNG & Steel and Shri Manohar Lal, Hon’ble Chief Minister of Haryana.

Performance Highlights : 2020-21

Sharing the highlights of IndianOil’s performance in FY 2020-21 with the national media, Mr SM Vaidya said that the Corporation registered domestic sales of 72.71 million metric tonnes (MMT) in 2020-21, besides exports of 3.1 MMT. Its nine re-fineries clocked a throughput of 62.4 MMT. The Corporation’s pipelines network, now spanning over 15,000 km, registered a throughput of 76 MMT of crude oil and products for the year. The Corporation enlarged and diversified its crude oil basket during the year 2020-21 by adding 17 new imported grades to its crude oil basket of 201 grades from over 44 countries

The Corporation sold 4.77 MMT of Gas (RLNG) in 2020-21 against 4.72 MMT in 2019-20, registering 19% growth. Petrochemicals sales in 2020-21 were an all-time high of 2.51 MMT. The Corporation’s share of production from eight produc-ing assets where it has participating interest was 3.86 MMToe in 2020-21.

IndianOil’s most significant achievement for the year was the remarkable agility with which IOCians across divisions leveraged digital technologies for ensuring business continuity and serve its stakeholder family with minimal disruption. All operating locations remained functional during the lockdown period, albeit with reduced staffing and all Covid related work protocol in place.

IndianOil commissioned a record 3000 new retail outlets, including 1196 Kisan Seva Kendra outlets. With this, its total number of fuel stations have exceeded a total of 32,000. In the LPG business, over 38 lakh new customers were added, and 293 LPG distributorships were commissioned, taking the Indane distributor-ship network to over 12,700. IndianOil also provided 6.68 crore LPG refills to cus-tomers under the Pradhan Mantri Garib Kalyan Yojana.

The Corporation boosted the Hydrogen economy efforts in the country by in-stalling an H-CNG Plant at Delhi for conducting a trial on 50 DTC buses. A State-ment of Intent (SoI) was also signed with M/s Greenstat, Norway, for setting up a Centre of Excellence on Hydrogen (CoE-H) to facilitate transfer and sharing of know-how and experience across the Hydrogen value chain, including hydrogen storage and fuel cells. In another significant step towards E-mobility, IOC Phiner-gy Pvt. Ltd., a 50:50 JV Company with Phinergy Ltd. of Israel, was incorporated to commercialise Aluminum-Air Battery Technology in India. In 2020-21, IndianOil’s research pursuits yielded 169 patents (69 in India and 100 overseas), taking its total filed patents to 1294.

CORE Business


Besides commissioning 3000 new ROs, 251 CNG stations and 525 mobile dispensers were also brought on stream, and 15 Compressed Biogas stations were operationalised. The Swagat brand of highway retail outlets was re-introduced with upgraded facilities. To promote women empowerment at the field level, 83 all-women crew Retail Outlets were launched across India. IndianOil al-so launched new differentiated product offerings for the customers. XP100, In-dia’s first super-premium high performance 100 octane petrol, was launched in December 2020 and differentiated LPG, XtraTej was launched in September 2020.

As part of a branding strategy, IndianOil relaunched the 5 Kg FTL LPG cylinder as CHHOTU, which is becoming increasingly popular. It has registered a 50% increase over the corresponding period last year. In another customer-centric ini-tiative, ‘Combo Cylinder facility’ and the ‘Composite Cylinder facility’ was launched to improve ease of living.

IndianOil Aviation maintained its leadership with a market share of 62.8% and expanded its network of Aviation Fuel Stations to 121. In addition to refuelling the Vande Bharat flights, it also supplied fuel to the 40th Indian Scientific Expedition to Antarctica.

SERVO improved its market share and retained its Numero Uno position in the lubricants market. Despite the pandemic, SERVO registered its highest ever growth of 24.1%, with a volume gain of 98 TMT and 100% growth in profit. It also expanded its footprint to Fiji & Turkey and is now available in 32 countries world-wide.


IndianOil refineries excelled in all physical and energy efficiency parameters. Heavy crude processing by Paradip Refinery was enhanced to 26% against 17% in FY 19-20 by ensuring priority supply of heavy crude through term contract and spot purchase. The geographic diversification of crude basket resulted in an in-creased share of crude from the American region ~9.5% against 6% in FY 19-20.

Refinery expansion, coupled with value-added products and petrochemical integration, is integral to IndianOil’s future growth strategy. In line with this, crucial mega investments decisions were taken for building a 9 MMTPA greenfield refin-ery at CPCL – CBR Nagapattinam and expand Panipat Refinery (15 to 25 MMTPA) and Gujarat Refinery (13.7 to 18 MMTPA).

All Refinery expansion and Petrochemical integration projects and other approved CAPEX plans translate into an Investment commitment of close to Rs 1 lac crore in the next five years, which will catapult the Corporation into a high growth trajec-tory.


During FY 2020-21, Pipelines Division achieved a liquid throughput of 76 Million Metric Tonne. Product Pipelines achieved a throughput of 31.7 MMT. Crude Oil Pipelines achieved a throughput of 44.2 MMT. Gas pipelines achieved the high-est ever throughput of 2685 MMSCM, 12% higher than last year.

During the year, the Durgapur-Banka (193 KM) section of the Paradip-Haldia-Durgapur augmentation LPG project and Ramanathapuram-Tuticorin section (143.5 KM, 3.99 MMSCMD) Ennore-Thiruvallur-Bengaluru-Puducherry-Nagapattinam-Madurai-Tuticorin natural gas pipeline were commissioned and dedicated to the nation by the Hon’ble Prime Minister, Shri Narendra Modi.

Pipelines Division continues to expand, and now its network length has crossed beyond 15,000 km. In 2020-21, Pipelines Division obtained an investment ap-proval of 2 projects for an estimated cost of Rs. 2017 crore involving the LPG pipe-line from Muzaffarpur to Motihari at an estimated cost of Rs.403 crore and the ca-pacity augmentation of the Salaya-Mathura crude oil pipeline system to meet the additional crude oil requirement for Koyali refinery after its capacity augmentation to 18 MMTPA at an estimated cost of Rs.1,614 crore.

Research & Development

IndianOil R&D Centre pursued cutting-edge research in both core and sunrise areas, including deployment of indigenous BS-VI technologies, widening the footprint of refining technologies, differentiated fuels and inhouse development of fuel additives. It also initiated a series of steps for promoting carbon capture, plastic neutrality, and biofuels.

It emerged as a pioneering force in Hydrogen and Fuel Cell related research. Besides the ongoing H-CNG experiment in Delhi on plying 50 CNG BS-IV DTC buses on Hydrogen spiked fuel, it is also setting up 1 MTPD pilot plants based on four innovative hydrogen production technologies. It will be operating 15 Fuel Cell buses in the Delhi NCR region.

INDMAX technology was selected for 1.9 MMTPA Petro FCC unit to produce propylene, LPG & high-octane Gasoline by Numaligarh Refinery Ltd – the first success outside IndianOil’s refineries in the domestic refining sector.


IndianOil is continuously expanding its gas business vertical. Total natural gas sales, including own consumption during the year, was 4.77 MMT against 4.72 MMT last year. IndianOil’s CGD footprint has also grown, and it is now authorised to operate in 17 Geographical Areas (GAs) on a standalone basis, out of which 8 GAs are approved in the 9th round and 9 GAs in the 10th round. The total project cost of the 17 GAs is Rs.13,873 crore.

Petrochemicals vertical is also continuously scaling new highs in physical performance. Highest ever annual Petrochemical sales of 2.5 MMT was achieved in FY 20-21. Petrochemicals sales grew by 20%, and Polymers registered an increase of 27%. IndianOil’s share of production from its eight producing assets during the year was 3863 Thousand Metric Tonnes of Oil Equivalent (TMToe), and revenue was around US$ 342.83 million.

IndianOil is developing three natural gas pipelines – Mehsana-Bhatinda, Bhatinda-Jammu-Srinagar and Mallavaram-Bhopal-Bhilwara-Vijaipur – through JVCs.

Alternative & Renewable Energy

Aligning IndianOil’s business objectives with national priorities, the focus on Bio-energy and Renewables was enhanced. Under the ambitious SATAT scheme of MoP&NG on Compressed Bio-Gas (CBG), IndianOil has awarded 1103 LOIs and convincingly surpassed the target of 900 LOIs. IndianOil has also initiated marketing of CBG from 11 Plants at 18 retail outlets spread over five states, with the total sale of CBG in 2020-21 exceeding 900 MT.

A Solar PV capacity of 6.23 MW was added during the year, taking the total Solar Power capacity to 65.05 MW. The Wind Power capacity remains at 167.6 MW. The total power generation from Renewable Energy during the year was 329.45 GWh, resulting in emission mitigation of 273.4 Thousand Metric Tonnes of Carbon diox-ide equivalent (TMTCO2e). Cumulatively, ~7.5 lakh conventional lights have been replaced with LED lights across IndianOil. 2.90 lakh trees were planted at various locations and units last year. During the festive season in November 2020, IndianOil launched a unique initiative - #TreeCheers, where 2.26 lakh tree sap-lings were planted on behalf of customers who refuelled their new vehicles at Indi-anOil fuel stations.