Indian Oil Corporation Current Liabilities

What does Indian Oil Corporation do? Indian Oil Corporation Ltd, or IOC for short, is a state-owned company and the largest refinery company in India. It was established in 1959 as Indian Oil Company Limited with the main goal of supplying the country with petroleum products that were previously imported from foreign companies. Today, Indian Oil Corporation is active in the entire petroleum production supply chain, from exploration, production, and processing to the sale of petroleum products and the development of solar energy and biomass. The company has around 44,000 fuel stations in India and serves over 120 million customers per day. It also operates in Nepal, Sri Lanka, Bhutan, and Mauritius. Its main business areas include refining, transportation, and marketing of oil products. In the refining sector, the company owns seven refineries in India and one in Sri Lanka, with a total capacity of 80.7 million metric tons per year. The company produces a wide range of products such as gasoline, diesel, heavy oil, liquefied petroleum gas, kerosene, lubricants, as well as petrochemical products like ethylene, propylene, polypropylene, and polyethylene. Another important business area is pipeline transportation. The company operates a network of around 13,000 kilometers of pipelines in India, allowing it to transport crude oil and petrochemical products and supply its refineries with raw materials. The third pillar of Indian Oil Corporation's business model is the sale of petroleum products. The company operates a network of retail fuel stations in India. It also supplies industrial fuels to companies such as power and manufacturing companies and other large customers. Indian Oil Corporation also has a strong presence in the renewable energy sector. It is the largest producer of biofuels in India and operates a solar and wind energy plant. The company is currently also developing ways to utilize biomass as an alternative energy source. The company has also emerged as a leader in fuel efficiency and offers various low-emission fuels that contribute to reducing environmental impact. One example is the "XP100" fuel system, which provides improved engine efficiency and reduced greenhouse gas emissions. Overall, Indian Oil Corporation Ltd is a significant company in the Indian energy sector. It has a strong presence throughout the petroleum production supply chain and has also taken a leading role in renewable energy and fuel efficiency. With its comprehensive efforts in harnessing solar, wind, and biomass energy sources, as well as its extensive promotion of alternative fuels and energy efficiency, the company seems well-equipped to continue advancing and driving innovation in the Indian energy sector. Indian Oil Corporation is one of the most popular companies on Eulerpool.