Indian Oil Corporation Limited

Indian Oil Corporation Limited

Indian Oil Corporation Limited (IOCL) was formed on September 1, 1964, through the merger of Indian Oil Company (est. 1959) and Indian Refineries Ltd. (est. 1958) to create an integrated national oil company. As India's largest commercial enterprise, it grew to secure a dominant market share of petroleum products, refining capacity, and pipelines, serving as the nation's premier energy backbone. 

Key Historical Milestones

• 1959: Indian Oil Company established to market products, largely to counter foreign oil company dominance.
• 1960: First import of diesel from the Soviet Union in August, breaking the monopoly of foreign firms.
• 1962: Inauguration of India's first public sector refinery in Guwahati, Assam.
• 1964: Merger of Indian Oil Company and Indian Refineries Limited forms Indian Oil Corporation Limited.
• 1965: Launch of Indane cooking gas, making it the largest provider in India.
• 1972: Establishment of the R&D center, leading to the creation of the SERVO lubricants brand.
• 1981: Acquisition of the

  Assam Oil Company

  
  in Digboi, the world's oldest operating refinery.
• 2000s-Present: Expansion into petrochemicals, natural gas, and renewables, consistently ranking in the Fortune Global 500.

Growth and Impact

• Infrastructure: Operates the largest network of pipelines and refineries, including locations at Barauni, Gujarat, and Paradip.
• Global Presence: Expanded operations to countries like Mauritius, Sri Lanka, and the Middle East.
• National Role: Plays a critical role in energy security, supplying fuel to India's defence forces and managing the nation's strategic oil reserves.