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A Giant Is Born IndianOil was incorporated on June 30 1959 under the name and style of Indian Oil Company Ltd Upon merger with Indian Refineries Ltd on September 1 1964 the name of the company was changed to Indian Oil Corporation Limited IndianOil has its Registered Office at IndianOil Bhavan G-9 Ali Yavar Jung Marg Bandra East Mumbai - 400 051 India Guwahati Refinery the first public sector refinery of the country was built with Romanian collaboration and was inagurated by the first Prime Minister of India Pandit JawaharLal Nehru on 1st January 1962 As on 1st April 2002 IndianOil owns and operates 10 of the countrys 18 refineries with a refining share of 33 over 41 if the capacity of recently acquired subsidiaries is also added IndianOils seventh refinery at Panipat was commissioned in 1998 IndianOils total refining capacity is now 3815 Million Metric Tonnes per Annum as of 1st April 2002 IndianOil commissioned Indias first product pipeline the Guwahati - Siliguri pipeline in 1965 This 435-Km pipeline connecting Guwahati Refinery to different installations was designed to carry about 0818 MMT of oil per year Today as of 1st April 2002 IndianOil operates the countrys largest network of 7000 km of crude and product pipeline with a total capacity of 4345 million metric tonnes per annum From a small begining with a sale of 0032 million kilolitres IndianOil achieved sales of 10 million kilolitres with a turnover of Rs 635 crore and profit Rs 225 crore by the late 60s From then on the company has grown from strength to strength and presently holds about 532 market share among oil public sector undertakings with products sales of 4717 million tonnes during the financial year ending March 2002 During 2001-2002 IndianOils net profit before deferred tax stood at Rs 3603 crore Rupees One Crore US 021 million approx as on 3132002 One Million Metric
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