Indian Oil Corporation

It is indeed remarkable to see IndianOil transforming from a fledgling
 oil refining and marketing entity into Indias leading Fortune Global
 500 company in the last 50 years. We have come a long way - in terms
 of not only size & scale of operations but also the repository of
 learning and skills accumulated within the organisation.
 
 Nothing can better encapsulate the expanse, reach and depth of
 IndianOil than the words - IndianOil in every heart, in every part.
 In the 50 golden years of existence (1959-2009), IndianOil has grown
 manifold - from a paltry share capital to over Rs. 1200 crore now, a
 refining capacity of 0.7 million tonnes per annum to over 60 million
 tonnes, and a dominant presence in all parts of the country. Rapidly
 growing infrastructure changed skylines as time flew and IndianOils
 business spread countrywide. Clocking profits, year after year,
 IndianOil also attained the status of a Navratna PSU.
 
 The extent of Indias expectations and IndianOils commitment to
 fulfill them can be gauged from what Shri K D Malaviya, the then
 Minister for Mines and Fuel had to say while addressing the employees
 of Indian Oil Company in June 1963, ...to remind the employees of
 Indian Oil Company that the nation has a greater stake in their
 activities and that they are not just another set of employees in any
 other commercial venture...
 
 At the turn of the century, having consolidated its strengths in
 refining, marketing and transportation of petroleum products through
 pipelines, IndianOil envisioned to evolve into a major, diversified,
 
 transnational, integrated energy company.  Aspirations met with
 success as IndianOil strengthened its presence in exploration &
 production of Oil, Petrochemicals and Natural Gas in addition to
 globalising the marketing operations.  With commitment to sustainable
 development, IndianOil is now, also engaged in widening its portfolio
 of energy offerings by developing renewable sources such as wind,
 solar, hydrogen and bio-fuels.
 
 In striving to serve the nation for the last 50 years, IndianOil has
 evolved into Indias flagship Oil & Gas Company.
 
 I can say with pride that the driving force behind this stupendous rise
 has been the passionate urge of IndianOilPeople to grow and extend the
 organisational reach across the country and serve their countrymen. The
 Corporations business strategy found its most eloquent expression in
 the willingness and ability of IndianOilPeople to quickly learn the
 ropes and outmanoeuvre competition. In the process, the IndianOilPeople
 have been shaping history. They have conquered one bastion after
 another - from launching aviation fuelling service, selling LPG,
 building & operating refineries and petroleum pipelines, to commanding
 the molecules to do their bidding in R&D.  In building this Corporation
 brick-by-brick, the indomitable IndianOil spirit of service and the
 legendary never-say-die attitude has been in full and vibrant display.
 
 As a leader in the business of bringing energy to life, IndianOil has
 played a major role in driving the
 
 fundamentals of a resurgent India.
 
 During the year 2008-09 too, IndianOil continued with its success
 story. It was a landmark year in terms of an unprecedented turnover of
 Rs. 2,85,337 crore and a sterling physical performance. In addition to
 surpassing 100% refinery capacity utilisation & clocking the highest
 ever crude oil throughout, breaching the 10,000 kilometre mark in
 pipeline length, and selling over 66 million tonnes of petroleum
 products, the Corporation expanded its footprint in exploration &
 production, petrochemicals, natural gas and bio- fuels. The soaring
 performance on operational indices, however, was not quite reflected in
 the annual profits which, at Rs. 2950 crore, mirrored the broad
 contours of the phenomenal volatility in the petroleum markets
 worldwide.  When we introspect and look back at our journey of the last
 five decades, it is indeed a memorable experience to have received
 unrelenting support and patronage from all our stakeholders -
 customers, employees, suppliers & contractors as well as the Government
 authorities. For decades, the ubiquitous IndianOil logo has been a
 welcoming sign for motorists, homemakers, farmers, as well as industry.
 IndianOil has stood shoulder-to- shoulder with the soldiers in times of
 war & peace and brought succour to the civilians in times of natural
 calamities.
 
 As we continue to march ahead, set higher goals and benchmarks, and
 extend this essay of excellence, I take this opportunity to assure our
 stakeholders that dauntless will be our determination and unflinching
 our faith in carrying forth the tradition of service, providing
 sustainable energy solutions and powering Indias march towards
 progress and prosperity.
 
                                                   Sarthak Behuria
                                                          Chairman