India's flagship national oil company and downstream petroleum
major, Indian Oil Corporation Limited (IOCL), snapped up
105th rank and emerged as the highest ranked
Indian company in the prestigious Fortune Global 500 listing
for 2009. As the largest public sector enterprise of
India, IOCL has been successfully meeting the energy requirements of millions
of people everyday across the length and breadth of the country, cutting
across difficult terrains and rough climatic conditions. It is also engaged in
continuous investments in modern technologies for sustainable energy
flow and economic growth as well as in developing techno-economically
viable and environment-friendly products and services for the benefit of its
consumers. During the 50 years of its operation, the corporation has
achieved stupendous success (2009 has been the Golden Jubilee Year for Indian
Oil)—Indian Oil and its subsidiaries now account for a 48% share in the
petroleum products market, 40% share in refining capacity and 71% downstream
sector pipelines capacity in India; it also owns and operates 10 of India's 19
refineries with a combined refining capacity of 60.2 million metric tons
per year. And in FY2008-09 too, the company notched another year of
sterling performance. According to IOCL's Chairman Sarthak Behuria,
the Corporation's refineries surpassed 100% capacity utilization and
clocked the highest ever throughput of 51.4 million tons. Breaching the
10,000-km mark in length, the pipelines network registered the highest ever
operational throughput of 59.5 million tons of
crude oil and petroleum products.
And this time also, without an iota of surprise, in The Analyst's ranking of top 500 companies in India
for FY2008-09 on the basis of net sales, IOCL has bagged the number one
slot with net sales of Rs 3,09,831.14 cr, far outclassing its private sector rival
Reliance Industries Limited, which grabbed the distant second place
with net sales of Rs 1,43,722.17 cr during the same period. For the
FY2008-09, IOCL's net sales increased by 24.11%, whereas its
Profit After Tax (PAT) declined by 57.65% and reached
Rs 2,346.60 cr. The other players which figured in the refining category
are Bharat Petroleum Corporation Limited, Hindustan Petroleum
Corporation Limited, Mangalore Refinery & Petrochemicals Limited, Essar
Oil Limited and Chennai Petroleum Corporation Limited. Oil India
Limited and ONGC are the two companies which have figured in the crude oil
and natural gas category.
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