Indian Oil Corporation Ltd

NSE: IOC BSE: 530965

₹142.03

+3.36 (2.42%)

Thu, 05 Nov 2026, 02:47 pm

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Market Cap (in Cr)195579.15

PE Ratio4.14

Dividend5.96

Energy Minerals

Integrated Oil

24.5K

Indian Oil Corporation Ltd Company History

1959

Incorporated as Indian Oil Company Ltd. on 30th June.

1960

Merged with Indian Refineries Ltd.; capital Rs 34,97,25,000.
92,897 shares subscribed by Government.

1961

5,500 and 4,550 shares subscribed by Government.

1962

Signed agreement with Mobil for blending plants in Calcutta and Mumbai.
19,450 shares subscribed by Government.

1963

Floated Indian Oil Blending Ltd. as 50:50 JV with Mobil.

1964

Amalgamated with Indian Refineries Ltd. to form Indian Oil Corporation Ltd.
18,000 shares subscribed by Government.

1965

Entered LPG market with 'Indane' distribution.

1966

2,10,300 shares subscribed by Government.

1967

17,700 shares subscribed by Government.

1968

Commissioned Ubex plant at Gujarat Refinery.
41,150 shares subscribed by Government.

1969

Registered wholly owned subsidiary Indian Oil International Ltd. for Nepal sales.

1972

Government decided to set up Mathura refinery with USSR collaboration.

1974

Terminated Mobil agreement; acquired shares making IOBL wholly owned subsidiary.
Undertook 2.5 mt Haldia refinery in collaboration.

1976

Issued 1,10,000 shares to President of India.

1977

Government approved secondary process facilities project at Rs 40.11 crores.

1979

Undertook bright stock production facilities (completed 1983-84).

1981

Issued 4,10,886 bonus shares in 1:2 proportion.

1982

Completed MSHE/residue conversion project.

1984

Dissolved provident funds trustee company.

1985

Proposed centralised quality assurance laboratory for LPG equipment.

1986

Converted all domestic customers to 'Pin' type equipment.
Commissioned 2 new AFS at Delhi and Imphal; total 77.

1987

Commissioned 2 new AFS at Jaisalmer and Utterlai.
Proposed hydrant refueling extensions.

1988

Added 8 new bottling plants; capacity up by 2,49,000 tonnes to 36% increase.
Added 5 international airlines; total 29.
Concluded 20-year aviation fuel agreement with Ministry of Defense.

1989

Commissioned new grease plant at Vashi, increasing capacity by 3,800 tonnes.

1990

Commissioned one crude oil tank.
Undert took IPS in pipelines.
Extended marine hoses replacement cycle to 42 months.

1991

Commissioned 2 new bottling plants at Calicut and Silchar; capacity to 10,26,000 TPA.

1992

Enhanced bottling capacity to 10,38,000 TPA.
Commissioned two mini blending plants at Todipalli and Khapri.
Developed 82 lubricant formulations and 14 new products.

1993

Released second cylinders to 9,40,000 customers.
Commissioned RALFS at Calcutta bottling plant.
Commissioned 6 new bottling plants.
Promoted peripheral hydrant refueling systems.
Pipeline network transported 24.1 million tonnes.
Launched 6 new products.
R&D developed 80 lubricant formulations.

1994

Subdivided equity shares.
Issued 410,88,600 bonus shares.
Allotted 20,54,43,000 shares to President of India.
R&D Centre earned ISO-9001 Certification.

1995

Added two LPG bottling plants; total 35 plants with 13.29 lakh tonnes capacity.
Digboi refinery achieved 112% capacity utilisation.
Developed 28 new lubricant products; commissioned 35 Servo lube distributors.
Entered collaboration with Tata Chemicals for 6 mt refinery.

1996

SERVO entered Nepal, UAE, Sri Lanka, W. Asia.
Developed 20 new products; commissioned 26 servo lube distributors.
Formed JVs: Indian Oil Tanking Ltd and Petronet India Ltd.

1997

Bottling plants increased to 43, capacity to 16.53 lakh tonnes.
Handled 475 product import tankers, 84 export, 278 crude, 76 LPG.
Allotted 19,540,000 shares to employees.
R&D earned ISO-14001 accreditation.
Commissioned Jubilee outlet in Ongole.

1998

Entered MOU with Premier Oil and Petronas for NELP bids.
Entered agreement with MRL for downstream cooperation.
Entered JV agreement for DME manufacture.
Incorporated Indian Oil Petronas Pvt Ltd for LPG import at Haldia.
Setting up lubricant plant at Faridabad.
Entered MoU with Reliance for marketing products.
Signed FSAs with 16 independent power producers.
Indo Mobil unveiled formula I car; signed with Mercedes Benz.
Entered JV with NYCO-SA and Balmer Lawrie for synthetic lubricants.
Developing oil terminal at Manmad.
Signed MoU with Hindustan Motors for Servo lubricants.
Entered MoU with ENOC for collaboration.
To set up JV with ENOC for tankage in Hamariyah.
Signed MoUs with Petronas, Marubeni, Petrotin, NPMPTT.
Awarded contract to Tecnimont for DHDS unit at Haldia.
Signed MoU with ONGC for projects.
Signed long-term FSA with HLL.
Signed agreement with NFL for 10 years.
Entered MoU with BRPL for crude transport.
To set up fourth oil jetty at Haldia.
Entered MoU with HSEB for 301 MW power project.
Signed MoU with GAIL for LPG pipeline.

1999

Workers proposed two-day strike on recruitment policy.
Mathura and Gujarat refineries awarded Golden Peacock Environment Management Award.
Signed agreement with Premier; negotiating with Petronas for NELP.
Commissioned crude pipeline from Haldia to Barauni.
Proposed expansion of Barauni refinery to 6 mtpa.

2000

Signed MoU with Apollo Hospitals for pharmaceutical stores.
To finalise JV with Emarat for oil trading terminals.
Signed agreement with GPCL for 500-MW power plant.
Reliance and IOC proposed JV for Central Indian pipeline.
Planned JV with ONGC for training and consultancy.
Tied up with Samsung and SK for LNG shipping.
Signed agreement with Tata Engineering for Servo oils.
Introduced interactive voice recording for Indane customers.
Launched Servo in Malaysia.
Launched co-branded credit card with Citibank.
Tied up with MTNL and MasterCard for Internet kiosks.
Signed agreement with BRPL for pipeline hookup.
To sign agreement with Nigeria for 6 mt crude.
In talks with Essar Oil for oilfields.
Entered technical collaboration with Enbridge for pipelines.
Entered storage and retail marketing in Mauritius.
Received Letter of Support for LNG terminal in Kakinada.
To market 1.5 mt LNG from Dabhol.
Signed MoU with Enron for energy and communication.
To set up quality control lab in Mauritius.
Formed JV ONGIO with ONGC.
Valvoline Cummins tied up for Eagle One products.
M. S. Ramachandran joined Board as Director.
Likely to invest in Nagarjuna Oil Corporation.
Launched Servo genuine oils for Tata vehicles.
Signed agreement with BRPL for crude transport.
To sign retail agreement with Dominos Pizza.
DishnetDSL tied-up for Internet hubs at petrol bunks.
Called off strike after negotiations.
To expand Gujarat Refinery to 18 mt by 2002.

2001

Planned capital expenditure of Rs 5,850 crore.
Sought Rs 1,500-2,000 crore loan from OIDB.
Joined race for Enron's stake in Panna-Mukta and Tapti fields.
To expand refining capacity to 61 mt by 2004.
Panipat refinery scheduled for maintenance shutdown.
Tied up with Citibank for co-branded credit cards.
Setting up JV with Calcutta Port Trust and SCI for floating storage.
Awarded Gold Trophies of Scope.
Finalised feasibility for entry into Mauritius.
Entered five-year marketing agreement with CPCL.
Signed MoU with NTPC for petro-fuel power plants.
Cleared Rs 3,365 crore Panipat expansion.
Retained Rs 410 crore from NCD issue.
Raised Rs 135 crore through CP issue.
Joined race for Aditya Birla's stake in MRPL.
Doubled domestic borrowing limit to Rs 20,000 crore.
Started operating LPG plant in Leh.
Acquired GOI stake in CPCL and BRPL, adding 9.35 MMTPA capacity.
Commissioned 310 retail outlets, total 7,549.
Restructured marketing setup with 15 state offices operational.

2002

RPL-IOC tie-up skidded on Hydrocarbon Vision 2025.
Commissioned co-branded fleet card Powerplus with Sundaram Finance.
M S Ramachandran took over as Chairman.
Signed MoU with Ceylon Petroleum for retail in Sri Lanka.
Signed deal with Nepal Oil Corporation.
V.K. Chaudhri took charge at regional level.
Tied-up with Gujarat Positra for petroleum infrastructure.
Introduced 'tank truck security system' in Andhra Pradesh.
Signed $100 million term contract for diesel and jet fuel to Sri Lanka.
Tied-up with Bhushan Group.
Launched eco-friendly fuel 'Autogas'.
Opened subsidiary and JV Lanka IOC Ltd. in Sri Lanka.
Launched IOC Premium petrol and Superior Diesel.
Signed agreement with Gujarat Port for crude handling.
Appointed N.R. Raje as Director R&D.
Appointed Naresh Kumar Nayyar as Director (Planning & Business Development); Naresh Narad ceased.
Tied up with Tata for lubricant supply.
Tied up with Citibank for co-branded debit card.
Appointed M.S. Srinivasan as additional director.
Tied up with Honeywell for re-engineering project.

2003

Dr A K Bhatnagar ceased as Director.
Introduced eco-friendly auto LPG in eastern India.
Unveiled IOC premium petrol in Chennai.
Appointed N R Raje as Director (R&D).
Railways entered JV with IOC for bio-diesel.
Shri Shivraj Singh, A.K. Arora ceased as Directors; Jaspal Singh appointed Director (Refineries).
Rolled out 'IOC Xtra' programme.
Inked agreement to import 7.5 mt crude from Kuwait.
Entered alliance with Total for R&D, marketing.
Tied up with BSNL to sell products.
Dr. Surajit Mitra ceased as Director.
Entered MoU with Tata Motors.
Signed pact with BP for crude imports.
Appointed P M Sinha, V Ranganathan, V K Agrawal as Additional Directors; others ceased.
Appointed Dr N G Kannan as Director (HR).
Appointed Badal Kumar Das as Additional Director.
Launched gasohol petrol in Visakhapatnam.
Inked loan agreement with BNP Paribas for $100 million.

2004

Launched Xtra Premium petrol in Visakhapatnam.
BIFR granted permission to take legal action against Konaria Ind.
To float SPV for 5 mt strategic oil reserves.
Awarded Rs 20 cr order to BHEL.
Inked pact with Coffee Day Xpress.
Unveiled Servo brand in UAE.
Inked pact with Orissa for Paradip refinery.
Tied up with Essar Steel for LNG sale.
Tied up with BSNL and e-Logistics for truck tracking.
Tied up with Ashok Leyland for freight management.
Launched sale of BSNL products at outlets.
Tied up with L&T and EIL for projects in Iran, Oman, Sudan.
Unveiled IndianOil Citibank Gold Credit Card.
Finalised deal with Reliance for offtake of products.
Inked pact with IIM-A.
Signed MoU with HPCL.
Selected ABB Lummus for heat exchanger replacement.
Awarded national technology award for INDIMAX catalyst.
Kicked off largest LAB plant in Gujarat.
Signed MoU with Nepal Oil Corporation for pipeline.
Forged alliance with JK Tyres.
Inked pact with Usha International.
Appointed P K Sinha as Director.

2005

IOC and OIL consortium won onshore oil block in Libya.
SpiceJet allied with IOC.
Gail and IOC signed JV for city gas projects in Agra and Lucknow.
Joined hands with Turkey co to bid for Tupras Refinery.
Gulf Oil tied up for car care products.
Purchased 4 mn barrels of Nigerian crude.
Inked pact with Ashok Leyland for engine oils.

2006

Signed MoU with NSCF for ethanol supply.
BIAL and IOC tied up for fuel station.
Inked pact with U21Global for management training.
Joined hands with IFP for management programmes.

2007

Appointed S Sundareshan as Director.
Signed MoU with Chattisgarh govt. for biodiesel production.
Signed MOU with UAE Exchange.
Signed agreement with Pragati Power for R-LNG supply.

2008

Tied up with HUL for Kwality Walls Kiosks at petrol stations.
MoU with Govt. focuses on cleaner energy sources.
Signed MoU with Transparency International India.
Inaugurated 'LNG at Doorstep' facility.

2009

Moved up to 105th in Fortune Global 500.
Received MoU Excellence Award 2007-08.
Signed MoU with Adani Energy for City Gas Distribution.
Chairman Sarthak Behuria conferred SCOPE Individual Excellence Award.
Signed MoU with PA LLC of Florida.
Issued bonus shares in 1:1 ratio.

2010

Appointed Sudhir Bhargava as Director.
Appointed Dr. R. K. Malhotra as Director (R&D).

2011

Digboi Refinery bagged third prize for environmental campaign.
Raised over Rs 1,400 crore from bond markets.
Ranked 98th in Fortune Global 500.

2012

OIL and IOCL acquired stake in Carrizo’s Niobrara basin assets.
Launched SERVO 4T SYNTH engine oil.
Launched Mobile Healthcare Scheme.
Launched Rural Mobile Health Scheme on all-India basis.
Bagged Corporate Sustainability Vision Award.

2013

Plans capacity expansion at Doimukh depot.
Inked MoU for Rs 5,000 cr natural gas terminal in Odisha.

2014

Conferred SCOPE Meritorious Award for CSR and Responsiveness.
R&D won National Awards for Technology Innovation.
Won BML Munjal Award for Business Excellence.

2015

Commenced construction of 4 MW solar power project at Muttam.
Inked MoU with Nepal Oil Corporation.

2016

Signed agreement to buy stake in Taas-Yuriakh oil field.
Announced Rs 1.80-trn investment plan in next 6 years.
Received USTDA grant for refinery modernisation.
Board approved expansion of Barauni Refinery.
Issued bonus shares in 1:1 ratio.

2017

To set up 28 petrol outlets on TSRTC lands.
To set up second generation ethanol plant in Panipat.
Signed deal with LanzaTech to build off gas-to-bioethanol unit.

2018

Bought third shipload of US crude oil.
Announced bonus shares in 1:1 ratio.
To buy 4% stake in LanzaTech.
Providing LPG connections to Arunachal under PMUY.

2019

Decks cleared for Rs 800 crore ethanol plant in Gorakhpur.
Received environment clearance for Rs 766cr 2G ethanol plant in Panipat.

2020

Saw 30% rise in LPG cylinder demand.

2021

Received upgrade in credit ratings.
Acquired 5% stake in Indian Energy Exchange's subsidiary.
Investment approval for new crude oil pipeline from Mundra to Panipat.

2022

Bagged Global Healthy Workplace Award as first Indian PSU.
Launched 3rd phase of 'Parivartan-Prison to Pride'.
Signed MoU with National Tiger Conservation Authority for Cheetah relocation.
Signed agreement with NTPC for renewable energy powering refineries.
Became first Oil Marketing Company to produce and market AVGAS 100 LL.

2023

Formation of Joint Venture Companies for setting up Compressed Biogas (CBG) projects.
Launched benefits and services for Maruti Suzuki Rewards members.
Welcomed Para-Archer Sheetal Devi into sporting roster.
Entered MoU with Paralympics Committee of India.

2024

Investment approval for Yarn Project at Bhadrak.
Signed MOU with RINL for supply of hydraulic and lubricating oils and greases for 5 years.
BOD approved construction of Greenfield Terminal at Bihta, Patna, Bihar.
Acquired Mercator Petroleum Limited.