Frequent question: Is Indian Oil Corporation a joint stock company?

What type of company is Indian Oil?

Indian Oil Corporation

The Energy of India
Type Government Corporation
Parent Ministry of Petroleum and Natural Gas, Government of India
Subsidiaries IndianOil (Mauritius) Limited Chennai Petroleum Corporation Limited Lanka IOC PLC IOC Middle East FZE Indane (LPG)

Is IOCL a statutory corporation?

1959: Indian Oil Company is founded as a statutory body to supply oil products to Indian state enterprise. 1964: Indian Refineries and Indian Oil Company merge to form the Indian Oil Corporation. 1976: The Burmah-Shell and the Caltex refineries are nationalized.

Is IOCL a part of ONGC?

Oil and Gas Corporation Limited (ONGC) and Indian Oil Corporation Limited (IOCL) signed Crude Oil Sales Agreement (COSA) for North East (NE) on 1 October at New Delhi. CGM (P) Chief Marketing ONGC Mr Sanjay Kumar and CGM (Tech) IOCL Mr S M Ukey signed the agreement on behalf of ONGC and IOCL respectively.

Is indane and IndianOil same?

Indane is a subsidiary of Indian Oil Corporation which is under the ownership of Ministry of Petroleum and Natural Gas of the government of India. It is the world’s second largest government-owned subsidiary responsible for manufacturing LPG.

Where is the head office of Indian Oil Corporation?

What is full form of BPCL?

Bharat Petroleum Corporation Ltd (BPCL) operates in the petroleum industry in India.

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Is IndianOil a PSU?

Indian Oil Corporation Limited (IOCL), commonly known as IndianOil is a government-owned oil and gas company headquartered in New Delhi. It is a Maharatna PSU under the Ministry of Petroleum and Natural Gas (MoPNG). IndianOil is the largest commercial oil company in the country.

How many Iocl are there in India?

Indian Oil Corporation Limited had 11 of the 23 refineries, present in India, under its control as of June 2020. Its largest refinery, by volume, were Panipat and Paradip, both with a refining capacity of 15 million metric tons per annum.

Is Iocl upstream or downstream?

In India IOCL and others belong to this category. Refineries belongs to this category. Downstream companies: They purchase the product from Midstream companies and sell it to retailers. These companies very often called OMC or Oil Marketing Companies like HP I.e. Hindustan Petroleum, Bharat Petroleum etc.

What is the other name of statutory corporation?

A public corporation, which is what we are talking about here, is a corporation which is owned and operated by the government while holding the same powers as that of a private enterprise. They are also called public sector enterprises and are statutory organisations under the ownership of the government.