Indian Oil Corporation (IOC) is India's largest commercial oil company, founded in 1959. It has grown through strategic expansions, technological advancements, and acquisitions to become a global energy player.
Indian Oil Company Ltd. was incorporated on June 30, 1959, with the objective of refining and marketing petroleum products. #IOC #India #oil
On September 1, 1964, the company was renamed Indian Oil Corporation Ltd. (IOC) after the merger of Indian Oil Company and Indian Refineries Ltd. #IOC #India #merger
IOC's first refinery at Guwahati, Assam, was commissioned with a capacity of 0.85 million tonnes per annum (MTPA), marking the start of indigenous refining. #refinery #IOC #India
The Barauni Refinery in Bihar started operations in 1969, with an initial capacity of 2 MTPA, strengthening India's refining capacity. #refinery #IOC
IOC's Haldia Refinery in West Bengal was commissioned in 1972, with a capacity of 2.5 MTPA, aiding in meeting eastern India's demand. #refinery #IOC
The foundation stone for Mathura Refinery was laid in 1974, and it was commissioned in 1982, with a capacity of 6 MTPA. #refinery #IOC
IOC started the Panipat Refinery project in Haryana in 1981, which was commissioned in 1988 with a capacity of 6 MTPA. #refinery #IOC
Indian Oil Corporation achieved a turnover of over Rs 10,000 crore in 1988, becoming the first Indian company to do so. #finance #IOC #milestone
IOC entered the lubricants market with the SERVO brand in 1991, which later became a leading brand in India. #lubricants #IOC
Indian Oil Corporation acquired a majority stake in IBP Co. Ltd., a former oil marketing company, expanding its retail footprint. #acquisition #IOC
IOC established Indian Oil (Mauritius) Ltd. in 1994 to explore international markets and supply petroleum products. #international #IOC
IOC expanded the capacity of Digboi Refinery (Assam) from 0.5 to 0.65 MTPA in 1995, modernizing the oldest operating refinery in Asia. #refinery #IOC
IOC formed a joint venture with TotalEnergies (then Total) for lubricants production and marketing in India, later dissolved. #jointventure #lubricants #IOC
Indian Oil Corporation issued American Depository Receipts (ADRs) and got listed on the NYSE in 1997, raising international capital. #finance #NYSE #IOC
Panipat Refinery expanded capacity to 6.8 MTPA in 1998, and later expansions made it one of the largest refineries in India. #refinery #expansion #IOC
IOC became the first Indian oil company to set up auto LPG dispensing stations in 1999, promoting cleaner fuel. #LPG #cleanenergy #IOC
Indian Oil Corporation acquired a 26% stake in Numaligarh Refinery Ltd. (NRL) in 2000, strengthening its presence in Northeast India. #acquisition #refinery #IOC
IOC signed a deal with Iran in 2001 to acquire a 40% stake in the Farsi oil block, marking its first upstream overseas investment. #upstream #international #IOC
IOC announced a naphtha cracker project at Panipat in 2002 to produce petrochemical feedstock, diversifying into petrochemicals. #petrochemicals #IOC
IOC started supplying aviation fuel to Sri Lanka in 2003, expanding its bunkering and aviation fuel operations internationally. #aviation #international #IOC
Indian Oil Corporation became the first Indian company to achieve a turnover of over Rs 1 lakh crore in 2003. #finance #milestone #IOC
IOC partnered with BP in 2004 to set up 5,000 retail fuel outlets across India, but the venture was later called off. #jointventure #retail #IOC
IOC acquired a 26% stake in a joint venture with Rosneft and Oil India Ltd. to develop Sakhalin-1 oil fields in Russia. #upstream #Russia #IOC
The Paradip Refinery project in Odisha was commissioned in 2006 (construction started earlier) with a current capacity of 15 MTPA, one of India's largest. #refinery #IOC
IOC launched XTRAPERF diesel, a high-performance fuel, in 2007, meeting Euro III emission norms. #cleanfuel #IOC
Indian Oil Corporation acquired a 49% stake in Suntera Nigeria Ltd., an oil exploration company, expanding its African footprint. #acquisition #Nigeria #IOC
Indian Oil Corporation celebrated its 50th anniversary in 2009, commemorating its growth into a $60 billion revenue company. #anniversary #IOC
Indian Oil Corporation began commercial production of Bharat Stage IV (BS-IV) compliant fuels in 2010, across its refineries. #cleanfuel #BSIV #IOC
IOC along with Oil India Ltd. won two oil exploration blocks in Iran in 2011, but later faced delays due to sanctions. #upstream #Iran #IOC
The Panipat Refinery expanded its capacity to 15 million tonnes per annum in 2012, making it IOC's largest refinery. #expansion #refinery #IOC
Indian Oil Corporation started its first compressed biogas (CBG) plant in 2013 at Namakkal, Tamil Nadu, as part of its renewable energy foray. #renewableenergy #biogas #IOC
IOC acquired a 26% stake in the Rovuma Area 1 offshore gas block in Mozambique in 2014, securing LNG sources. #LNG #Mozambique #IOC
IOC set up its first electric vehicle charging station in Nagpur in 2015, marking entry into e-mobility infrastructure. #EV #charging #IOC
Indian Oil Corporation was granted Maharatna status in 2016, giving it greater financial autonomy and decision-making powers. #PSU #Maharatna #IOC
The Paradip Refinery achieved full capacity of 15 MTPA in 2017, boosting IOC's total refining capacity to over 80 MTPA. #refinery #Paradip #IOC
Indian Oil Corporation reported a turnover of over Rs 6 lakh crore in FY2017-18, ranking among top global oil companies. #finance #IOC
Indian Oil Corporation began supplying Bharat Stage VI (BS-VI) compliant fuels in Delhi from April 2019, ahead of national rollout. #cleanfuel #BSVI #IOC
IOC launched India's first hydrogen fuel cell bus in 2020, showcasing its commitment to green hydrogen technology. #hydrogen #fuelcell #IOC
Indian Oil Corporation set a target to achieve net-zero carbon emissions by 2046, aligning with India's climate goals. #netzero #climate #IOC
IOC acquired a 50% stake in a joint venture with Larsen & Toubro and ReNew Power for green hydrogen production in 2022. #greenhydrogen #jointventure #IOC
Indian Oil Corporation commissioned its first green hydrogen plant at the Panipat Refinery in 2023, with a capacity of 1 ton per day. #greenhydrogen #refinery #IOC
Indian Oil Corporation launched a battery swapping network for two-wheelers and three-wheelers in 2024, expanding its EV ecosystem. #EV #batteryswapping #IOC