Yes, Indian Oil Corporation Limited or IOCL is a public company. It is an Maharatna Govt. sector company within the gas and oil sector and is under the control of the administrative department of the Ministry of Petroleum and Natural Gas, Government of India. Established in 1959, IOCL is India’s largest oil producer owned by the government in terms of capacity and revenues.
IOCL operates throughout the entire value chain of hydrocarbons, which includes exploring and producing gas and crude oil refining and marketing of petroleum products pipeline transport, and petrochemicals as well as worldwide downstream activities. Additionally, it is a player within the energy from renewable sources market. The company was placed at 127 on the list on the Fortune Global 500 List in 2025.
Here’s a quick review of IOCL
| Details | Info |
| Founded | 1959 |
| Founder | Government of India |
| Headquarters | New Delhi, India |
| Chairman | Arvindar Singh Sahney |
| Industry | Oil and Gas |
| Products | Petroleum, Petrochemicals, Natural Gas, Lubricants, LNG |
| Subsidiaries | Indane, Chennai Petroleum Corporation Limited, Petronet LNG |
| Owner | Government of India |
| Official Website | www.iocl.com |
Company History
IOCL is a company that has its roots back to Indian Oil Company Limited, that was formed in 1959. It was formed to coordinate imports of petroleum products marketing, distribution and imports. In 1964 Indian Oil Company Limited and Indian Refineries Limited merged to form Indian Oil Corporation Limited.
IOCL constructed its refinery infrastructure during the 60s and 70s and key refineries were established in Barauni, Koyali and Haldia. In 1972, the firm was able to launch Servo the first Indian-owned oil brand. IOCL established the Mathura refinery in 1982.
In the 1990s and early 2000s, IOCL acquired Assam Oil Company and expanded into petrochemicals and exploration and production as well as natural gas marketing. It ended up becoming the most dominant player with a 50 percent of the market share for petroleum-based products. In midway through the twenty-first century, it had diversified into renewable energy. century century the company had expanded into renewables, biofuels hydrogen, and green energy.
IOCL was the most profitable public corporation in May of 2018 with an all-time high profit in the amount of INR 21,346 crore.
Current Status
IOCL has 10 refineries belonging to the group, which have combined capacities in the range of 80.75 MMTPA. It manages a sprawling 20,000 km across-country pipelines that moves more than 100 million tonnes of product every year. The company’s network of more than 40,000 fuel stations in India caters to more than 3 million customers every day.
IOC’s LPG trademark, Indane, reaches over 15 crore people in India. The company is a oil and gas production capacity at 3315 KTA. For the natural gas sector, IOCL operates in 115 districts that span 49 geographic areas.
IOCL is home to more than 14,000 charging stations for electric vehicles and 108 facilities for swapping batteries. The company offers it biofuels using the brands E20 as well as Ethanol 100 through its 8,470 outlets.
Future Outlook
IOCL intends to grow its hydrocarbon operations while moving toward sustainability and net zero goals. The company is looking to expand the refining capacity by 95.4 MMTPA at the end of FY26. IOCL will also plan to expand the production capacity of its petrochemicals up by 13-14 million tons in 2030.
