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Indian Oil Corporation Ltd. Company History and Annual Growth Details

1959 -

The Company was incorporated on 30th June, under the name and style of
the Indian Oil Company, Ltd. With a view to coordinating the
activities of the Indian Refineries, Ltd., and Indian Oil Company,
Ltd., the two were amalgamated on 1st September, 1964, to form a new
corporation, the Indian Oil Corporation Ltd.

1960 -

Indian Refineries, Ltd., was merged with the Company. The capital
after amalgamation was Rs 34,97,25,000. Later 92,897 shares subscribed
for by Government.

1961 -

Shares subscribed for by Government; 1961 - 5,500; 1962 - 19,450; 1961
- 4,550; 1964 - 18,000.

1962 -

In November, the Corporation signed an agreement with Mobil Petroleum
Co., Ltd., New York, for setting up of two blending plants in Calcutta
and Mumbai.

1963 -

On 25th March, a new Company was floated under the name and style of
Indian Oil Blending Ltd., to undertake the erection. The new Company
was floated as a joint venture of Mobil and the IOC on 50:50 basis.

1965 -

The Corporation entered the field of LPG for domestic cooking and
distribution started under the name 'Indane' in selected cities of the
Eastern region.

1966 -

2,10,300 No. of shares subscribed for by Government.

1967 -

17,700 No. of shares subscribed for by Government.

1968 -

As part of the Gujarat Refinery, an Ubex plant in collaboration with
Nuvo Pigeons S.P.A., Italy, for extracting benzene, toluene, etc. as
basic raw materials for the petro-chemical industries was commissioned.

41,150 No. of shares subscribed for by Government.

1969 -

A wholly owned subsidiary of the Corporation was registered on 24th
October, under the name and style of the Indian Oil International,
Ltd., for the sale of the Corporation's POL products within the
territory of Nepal.

1972 -

Government gave its decision to set up a refinery at Mathura (U.P). in
collaboration with USSR. In terms of the collaboration, a contract was
entered into with Neftechimprom export for project report, technical
assistance, supply of materials etc.

1974 -

The agreement of the Corporation with Mobil Petroleum Co. Inc. was
terminated on 19th July, and the 4,000 equity shares of Mobil group in
the Indian Oil Blending Ltd. were purchased for the IOC. Consequent
upon this the IOBL became a wholly owned subsidiary of the Corporation.

The Corporation undertook to set up a 2.5 million tonnes refinery at
Haldia in Collaboration with TECHNIP/ENSA of France and Industrial
Export of Rumania.

1976 -

1,10,000 No. of shares issued to the President of India.

1977 -

Government approved the feasibility report on secondary process
facilities. The project sanctioned at a cost of Rs 40.11 crores was
designed for increasing the production of the lighter and middle
distillates.

1979 -

The Corporation undertook to set up facilities to produce 15,000 tonnes
per year of bright stock (LVI) to substitute for the import of cylinder
oil. The project was completed during 1983-84.

1981 -

4,10,886 Bonus shares issued in the prop. 1:2.

1982 -

The project for conversion of MSHE/residue into more valuable products
like LPG, motor spirit, HSD, LDO, etc. was completed.

1984 -

The Company was set up with the primary objective of acting as trustees
of the two provident funds of the employees of the erstwhile Assam Oil
Company, Ltd. and Oil India, Ltd. Consequent upon the vesting of the
trust fund in the respective successor companies, Indian Oil
Corporation, Ltd. and Oil India, Ltd., the primary purpose for which
this Company was set up no longer remained. It was dissolved during
the year.

1985 -

To ensure maintenance of high quality control standards by LPG
equipment manufacturers it was proposed to set up a centralised quality
assurance laboratory.

1986 -

With the conversion of 3,27,000 customers from 'F' type to the safer
'Pin' type 'seld closing' equipment, all domestic customers were using
the new equipment.

Two new Aviation Fuel Stations (AFS) were commissioned at Indira Gandhi
International Airport, New Delhi and Imphal (Manipur). This increase
the number of AFS to 77.

1987 -

The Corporation commissioned 2 new aviation fuel stations at Jaisalmer
and Utterlai in Rajasthan. It was proposed to extend the hydrant
refueling system at Sahar International Airport, Mumbai (Sahar Phase
III) and put up a modern hydrant refueling system at Goa and Arkonam.

1988 -

The Corporation added 8 new bottling plants at Delhi (Tikrikalan),
Karnal. Haldwani, Ajmer, Bhopal, Jamshedpur, Balasore and Parwanoo
(Baddi). With this, the bottling capacity of the Corporation at its 25
plants bottling capacity of the Corporation at its 25 plants went up by
2,49,000 tonnes per annum representing a 36% increase over the previous
year's capacity of 6,98,500 tonnes.

The Corporation added 5 more international airlines into its fold;
increasing the number of airlines served to 29. The Corporation
concluded during the year a long term agreement with the Ministry of
Defense for supply of aviation fuels for a period of 20 years.

1989 -

A new grease plant was commissioned at Vashi in New Mumbai at a cost of
Rs 10 crores, increasing the greases manufacturing capacity by 3,800
tonnes.

1990 -

One crude oil tank was commissioned after desludging and
degasification. Instrumented Pig Survey (IPS) in
Haldia-Mourigram-Rajbandh and Haldia Barauni Pipeline was undertaken.
Replacement cycle time of marine hoses was extended from 39 months to
42 months resulting in longer hose-life and reduction in inventory
carrying cost.

1991 -

The Corporation commissioned, 2 new bottling plants at Calicut in
Kerala and at Silchar in Assam. With this, the bottling capacity at
its 29 plants increased from 10,04,000 tonnes in 1990-91 to 10,26,000
TPA.

1992 -

The Indane customers are served through a network of 2,206 distributors
(2,132) spread over 1,133 towns (1087 in 1992-93).

The total capacity at the 29 bottling plants was enhanced to 10,38,000
TPA.

Two small-Can filing/mini blending plants were also commissioned at
Todipalli in AP and at Khapri in Maharashtra each having a capacity of
56,000 tonnes. 14 new products were developed, of which 5 products
alone would lead to savings in foreign exchange to the tuns of Rs 1.75
crores per annum.

The Unit developed 82 lubricant formulations including fuel saving and
energy conserving automotive engine oils, synthetic heat transfer oil,
high performance high temperature greases: two-stroke engine oil with
lower oil to fuel ratio, various national and international approvals
obtained for 31 products, development of a novel chemistry grease G-92
based on a new thickener and a development of a fuel efficient
hurricane lantern meeting BIS specifications, that saves upto 20%
kerosene.

1993 -

For users convenience, second cylinders were released to about 9,40,000
customers.

A new concept of Computer Remote Operational Automatic LPG Filling
System (RALFS) was developed and commissioned at the Calcutta bottling
plant resulting in substantial increase in productivity. 6 new
bottling plants were commissioned at Delhi, Amhedabad, Belgaum, Trichy,
Farrukhadia and Guwahati.

Penpreral hydrant refueling systems were promoted at Udaipur, Kulu,
Baroda, Imphal & Along.

3850 km. popeline network of the corporation transported a second 24.1
million tonnes of crude oil and petroleum products during the year.
Six new products were launched of which 3 were energy consuming,
environment friendly lubricants while two were adopted as genuine oils
for Maruti & Kenetic Honda vehicles. Two new depots at Bharatpur &
Sagar and on bulk technical at humding were commissioned.

The R&D developed the following: (i) 80 lubricant formulations and
nature and international approvals for 27 products such as Servo marin
by Diesel Recherch Italy New Sulzer Diesel, Winterthur, Synthetic
greases for use in aircraft etc.; (ii) A two-phase model to stimulate
FCC stripper operation resulting in 5% Throughput increase; (iii) A
kinetic model for hydrocracking for predicting product yield, quality
etc.; (iv) A new design for railway signal lamp for use with 18 mm
smoke point kerosene etc.

1994 -

Equity shares subdivided. 410,88,600 bonus shares issued in 1994.
2054,43,000 shares allotted to President of India.

The Research and Development Centre of the Company earned ISO-9001
Certification.

1995 -

With the addition of two new LPG bottling plants at Belgaum and Delhi,
the 35 LPG bottling plants have capacity to bottle 13.29 lakh tonnes
LPG per annum.

Digboi refinery of the division achieved a capacity utilisation of 112%
by processing 0.559 MMT of crude oil.

To keep pace with international developments in lubricants technology
and the market demands, 28 new products were developed in various
categories for a wide range of customers like railways diesel
generating sets, boat users etc. and 35 Servo lube distributors were
commissioned.

The Corporation has entered into a collaboration with Tata Chemicals,
Ltd. for setting up a 6 million tonnes grassroots refinery at village
Baholl in Karnal district of Haryana. The ultimate equity
participation in the Joint Venture Company will be IOC-26%. Tata
Chemicals Ltd.

16% and the balance 48% to be issued to the public including NRI. The
joint venture company will be incorporated as Tata Indian Oil
Refineries Limited.

1996 -

SERVO entered Nepal, UAE, Sri Lanka and the markets in W. Asia. Twenty
new products were developed in various categories like automotive,
power, steel etc. During the year 26 servo lube distributors were
commissioned.

IOC has formed two joint venture companies - Indian Oil tanking Ltd and
Petronet India Ltd.

1997 -

The total number of bottling plants improved to 43 and the
corporation's capacity was enhanced to 16.53 lakh tonnes per annum.

The Corporation handled 475 product import tankers and 84 product
export tankers besides 278 crude oil tankers and 76 LPG shipments.

19,540,000 Shares allotted to the employees of the Company in 1995-96.

The R&D earned the coveted ISO-14001 accreditation for its
environmental management system. The Centre was selected as the
headquarters of the Indian Chapter of the National Lubricating Grease
Institute, USA. The centre made a breakthrough in the development of
marine engine technology and low oil-fuel ratio two-stroke engine oil.

Indian Oil commissioned a Jubilee outlet in Ongole, Andhra Pradesh,
which was followed by 27 more such outlets.

1998 -

The company entered into an MOU with Premier Oil Pacific Ltd. UK and
petronas Carigali, malaysia to participate in the NELP bids invited by
the Government of India. During the year the company entered into
another agreement with Madras refineries Ltd (MRL) for cooperation in
downstream hydro carbon sector business including expansion of MRL's
cauvery-basin refinery at Nagapattinam as a joint venture.

A joint collaboration agreement was entered into between the
corporation and the Indian Institute Petroleum and Gas Authority of
India Ltd and Amco India Development Company USA to manufacture and
market DME in India.

A joint venture company, Indian Oil Petronas Pvt. Ltd was incorporated
with equal participation of the Corporation an petronas, Malaysia to
set up import facilities at haldia for parallel marketing of LPG.

The Corporation had 92 installations and 184 bulk depots. Tankage as
at 31.3.1998 was 54.54 lakh kls. at various installation and depots.

The state-owned Indian Oil Corporation (IOC) is setting up a
state-of-the-art lubricant plant at Faridabad to meet the growing
demand of the company's engine oil 'Servo'.

Indian Oil Corporation (IOC) would soon be commissioning a modern lube
blending plant at Asaoti in Faridabad district (Haryana) to meet the
demand of Servo (Indian Oil's brand of lubes) and to augment its
self-sufficiency in the northern region.

Indian Oil Corporation (IOC) has entered into an MoU with Reliance
Petroleum for marketing and distribution of petroleum products of the
latter. With this agreement, IOC will have the sole rights to market
Reliance's products manufactured at its 15 million tonne refinery at
Jamnagar, Gujarat.

Indian Oil Corporation (IOC) has signed fuel supply agreements (FSAs)
with sixteen independent power producers including projects being
promoted by the RPG group, Harrison Malayalam etc for power plants
being put up in Rajasthan, Haryana and Uttar Pradesh.

Indo Mobil Limited, a 50-50 joint venture between Mobil Corporation and
Indian Oil Corporation to manufacture and market Mobil Lubricants in
India, unveiled the West Mclaren Mercedes MP 4.12 formula I car at the
expo.

Indo Mobil Limited is also signing an exclusive agreement with Mercedes
Benz India network backed by joint promotion and service activities for
the Mercedes Benz owner.

The corporation has also entered into a joint venture partnership with
NYCO-SA of France and Balmer Lawrie to produce synthetic lubricants for
the defence and aviation sectors.

The oil terminal at Manmad will have state-of-art facilities including
10 tank lorry filling bays with computerised flow meters to ensure
accuracy of delivery.

Indian Oil has been assiduously expanding its marketing infrastructure
facilities including setting up of tankage facilities to meet the
growing demand of petroleum products.

A memorandum of understanding (MoU) for the supply of Servo lubricants
of initial fill and also as genuine oils for Mitsubishi Lancer cars was
signed by Indian Oil Corporation Ltd. and Hindustan Motors Ltd.

Indian Oil Corporation (IOC) and Emirates National Oil Company (ENOC)
of Dubai have entered into a memorandum of understanding (MoU) for
joint collaboration in downstream areas of the petroleum sector,
particularly in lubricants and training and consultancy projects.

Indian Oil Corporation Ltd (IOC) is likely to set up a joint venture
company with the Emirates National Oil Company (ENOC), Dubai, for a
tankage capacity and a dedicated jetty at Hamariyah free zone. This
facility would be used for leasing, trading and captive use of
petroleum products.

As part of the MoU, both IOC and ENOC would collaborate in providing
consultancy services and support in
bottlenecking/revamping/modernisation of refineries, terminalling
facilities, cross-country pipelines, modernisation of retail outlets
and environmental related projects.

IOC has signed memorandums of collaboration with Petronas of Malaysia,
Marubeni of Japan and Petrotin and the National Petroleum Marketing
Company of Trinidad and Tobago for joint ventures in refining,
petrochemicals, LPG, E&P, LNG power, R&D training. The IOC-Petronas
joint venture was in the process of setting up LPG import and marketing
facilities at Haldia in West Bengal.

Indian Oil Corporation Limited has awarded to Tecnimont SPA, Milan, a
contract to install a 1.2 million tons per year Diesel Hydro
Desulphurisation (DHDS) unit at their Haldia refinery.

The Indian Oil Corporation and Oil and Natural Gas Corporation have
signed a memorandum of understanding to work together in upstream and
downstream projects.

Indian Oil Corporation signed the first long-term fuel supply agreement
with Hindustan Lever Ltd for the supply of entire fuel and lubricant
requirement of HLL's manufacturing unit at Orai in Jalam for the next
five years.

Indian Oil is the largest commercial organisation in India, the only
Indian company to feature in the Fortune Global 500 list, it is ranked
30th in terms of sales and profits among the world's petroleum
companies.

Indian Oil Corporation limited is one of the top PSUs in the market
today. The company's R&D centre at Faridabad is one of the best in
Asia, the company is constantly developing it.

An agreement has been signed between the Indian Oil Corporation (IOC)
and National Fertilisers Ltd (NFL) to meet the feed and fuel-stock
requirements of the latter's Nangal, Bhatinda and Panipat plants for
the next 10 years.

Indian Oil Corporation (IOC) and Bongaigaon Refinery and Petrochemicals
Ltd (BRPL) have entered into a memorandum of understanding (MoU) for
transportation of imported crude oil to BRPL's refinery at Dhaligaon in
Bongaigaon district of Assam. The memorandum of understanding was
signed at IOC's pipelines headquarters in Noida on March 3.

IOC will also be setting up the fourth oil jetty at Haldia on a
build-own-operate (BOO) basis, either on its own or through partnership
with other private promoters.

The Indian Oil Corporation (IOC) will provide the entire feedstock and
fuel stock requirements of the Nangal, Bhatinda and Panipat fertilizer
plans of National Fertilisers Limited (NFL) for the next decade. An
agreement to this effect has been signed between IOC and NFL.

Indian Oil Corporation (IOC) will sign the Fuel Supply Agreement (FSA)
with the Kochi-based BSES Kerala Power Ltd on March 17.

Indian Oil Corporation Limited (IOC) and Nirma Ltd have entered into a
memorandum of understanding for the supply of Linear Alkyl Benzene
feedstock (LABFS).

Indian Oil Corporation (IOC) and the Haryana State Electricity Board
(HSEB) have entered into a memorandum of understanding (MoU) for
setting up a 301 MW power project at Panipat based on heavy residue
fuel from Indianoil's six-million-tonne grassroots refinery.

Indian Oil Corporation and Gas Authority of India Ltd (GAIL) have
signed a memorandum of understanding (MoU) for transfer of LPG through
the pipeline laid by GAIL from Jamnagar to Loni near Delhi.

The Jaipur and Loni terminals and bottling plants will be commissioned
during the second half of 2000-01.

1999 -

Indian Oil Corporation workers propose to go on a two-day strike from
January 7 on the company's recruitment policy.

The Indian Oil's Mathura and Gujarat refineries were presented the
Golden peacock Environment Management Award by Union minister of
environment and forest Suresh Prabhu.

State-owned Indian Oil Corporation (IOC) has signed an agreement with
the US oil company Premier and is negotiating with Malaysian Petronas
to jointly bid for oil blocks under the new exploration licensing
policy (NELP).

Indian Oil Corporation Ltd (IOC) has commissioned a crude pipeline from
Haldia to its Barauni refinery enabling the latter to achieve total
capacity utilisation, and eventually meet the crude deficit in
Bongaigaon Refinery and Petrochemicals Ltd (BRPL) and Numaligarh
Refinery Ltd (NRL).

IOC proposes the expansion of capacity of its Barauni refinery from the
present level of 4.2 mtpa to 6 mtpa.

2000 -

Indian Oil Corporation Ltd. (IOC) has signed a memorandum of
understanding (MoU) with healthcare major Apollo Hospitals for setting
up pharmaceutical general stores at the convenience stores of Indian
Oil petrol stations.

State-owned Indian Oil Corporation (IOC) and UAE-based Emarat
Corporation would soon finalise a joint venture (JV) agreement for
setting up oil trading terminals in the Hamriyah free trade zone of
Sharjah.

Indian Oil Corporation (IOC) has signed an agreement with Gujarat Power
Corporation Ltd (GPCL) for setting up a vacuum residue-based 500-MW
power plant at Savli, Gujarat.

Reliance Petroleum and Indian Oil have presented a proposal to the
ministry of petroleum and natural gas which involves formation of a new
joint venture company to execute the Rs 4,400-crore Central Indian
pipline.

Indian Oil and Oil and Natural Gas Corporation plan to enter into a
50:50 joint venture for providing training and consultancy services.

Indian Oil has tied up with the South Korean's Samsung and SK
Corporation to venture into shipping of liquefied natural gas.

Indian Oil Corporation signed an agreement with Tata Engineering for
marketing its Servo engine oils for Tata's premium range vehicles.

Indian Oil Corporation has introduced interactive voice recording
system for its Indane LPG customers. This will facilitate round the
clock service to the customer.

Indian Oil Corporation has launched its flagship lubricant brand Servo
in Malaysia.

Indian Oil and Citibank have together launched a co-branded
international credit card.

Indian Oil Corporation has tied up with Mahanagar Telephone Nigam Ltd
and MasterCard International to set up a network of Internet kisoks
with touchscreen facility in New Delhi and Mumbai.

Indian Oil Corporation and Bongaigaon Refinery and Petrochemicals Ltd.
have signed an agreement for development of pipeline hookup facilities
for transporting imported crude oil to BRPL's refinery.

Indian Oil Corporation is slated to sign an agreement with the Nigerian
government to buy 6 million tonne of term crude in 2000-01.

The state-owned Indian Oil Corporation is in talks with Essar Oil for
acquiring its interests in oilfields, officials familiar with the
negotiations.

Indian Oil Corporation has entered into a technical collaboration for
pipelines with Enbridge International of Canada.

IOC entry in storage and retail marketing of petroleum products in
Mauritius, Union petroleum minister, Ram Naik signed the memorandum of
understanding on behalf of the Indian government with Mauritius.

Andhra Pradesh government has given a Letter of Support to the Indian
Oil Corporation-led consortium to set up LNG terminal-hydrocarbon in
Kakinada.

Indian Oil Corporation that it will directly market 1.5 million tonnes
of Liquefied Natural Gas from the Dabhol LNG terminal of Enron India
Ltd in Maharashtra.

Indian Oil Corporation and Enron India have signed a memorandum of
understanding to collaborate in the energy and communication
businesses.

The Company will set up a modern quality control laboratory in the
island-nation of Mauritius to facilitate testing of aviation turbine
fuel as well as non-aviation fuels.

ONGC and IOC two companies have formed aj oint venture, ONGIO, a name
derived by mrging the initial letters of their respective acronyms,
which will explore opportunities in training and consultancy in the oil
Industry.

Valvoline Cummins Ltd has tied up with the Indian Oil Corporation (IOC)
to market its recently launched 'Eagle One' range of car care products.

Mr. M. S. Ramachandran has joined the Board of Indian Oil Corporation
as Director in-charge of planning and business development.

Indian Oil Corporation is likely to invest in the equity of Nagarjuna
Oil Corporation Ltd a group company of the Nagarjuna Fertilisers and
Chemicals Ltd.

Indian Oil launched its Servo genuine oil range for Tata Engineering's
Indica passenger cars and Sumo vehicles.

Indian Oil has introduced the genuine oils 'Servo Indica-P' for petrol
cars, 'Servo Indica-D' for diesel cars and 'Servo Sumo Engine Oil' for
the Sumo range of vehicles.

ValvolineCummins Ltd has tied up with Indian OIl Corporation Ltd to
introduce its Eagle One range of car-care products through the latter's
retail outlets in the metros.

Indian Oil Corporation will expand its Gujarat Refinery's capacity to
18 million tonnes (mt) from the present 13.7 mt by May, 2002.

Unions of the the company on 15th November called off their agitation
including the proposed two-day strike from 16th following commencement
of negotiations with the management on wage-related issues.

Indian Oil Corporation has signed an agreement with Bongaigaon Refinery
and Petrochemicals Ltd. for transportation of 0.5 million tonnes of
Crude Oil for delivery to BRPL through IOC's Haldia-Barauni crude oil
pipeline.

The Company will sign a retail agreement with Dominos Pizza India Ltd.
for setting up a fast-food chain through IOC outlets in India by the
end of December.

DishnetDSL Limited has tied-up with Indian Oil Company (IOC) to open
Internet hubs in all its petrol bunks across the country.

2001 -

The Company has joined the race with the likes of Reliance Industries,
ONGC, Royal Dutch Shell and Cairn Energy for acquiring Enron's stake in
Panna-Mukta and Tapti oil and gas fields.

Indian Oil Corporation will expand its existing refining capacity by 34
per cent to 61 million tonnes by 2004.

The state-owned Indian Oil Corporation Petrochemicals Ltd to be
restructured into two separate units before investing in its equity.

The Company's Panipat refinery is scheduled to shut down around March
20 for a month-long routine maintenance work.

Indian Oil Corporation has tied up with Citibank for launching
co-branded credit cards that could be used for the purchase of fuel as
well as for other credit purchases.

Indian Oil Corporation, Calcutta Port Trust and Shipping Corporation of
India Ltd are setting up a joint venture for floating storage tanks at
the Sandheads, 130km down the river Hooghly from the Haldia Dock
Complex.

Indian Oil Corporation and Hindustan Aeronautics Ltd. have been awarded
the Gold Trophies of Scope for excellent contribution to public sector
management for the years 1999-2000 and 1998-99 respectively.

Indian Oil Corporation has finalised the detailed feasibility report
for its proposed entry into Mauritius as an independent marketing firm.

Indian Oil Corporation has entered into a five-year marketing agreement
with Chennai Petroleum Corporation Ltd.

The indian Oil Corporation and National Thermal Power Corporation have
signed a memorandum of understanding to set up petro-fuel power plants
in India.

Indian Oil Corporation (IOC) has cleared the Rs 3,365 crore Panipat
refinery expansion from 6 million tonne to 12 million tonne. IOCs
investment review committee, which went into feasibility of the project
has given the go-ahead to the project which would take 36 months to
complete.

Indian Oil Corporation would retain only Rs 410 crore out of the Rs 535
crore mopped up from the privately placed non-convertible debenture
issue. It attracted bids worth Rs 535 crore out of which only Rs 410
crore would be retained.

Indian Oil Corporation (IOC) has raised Rs 135 crore through a
commercial paper (CP) issue on August 28 using the online trading
platform of Riskxpress.com.

Indianoil Corporation has joined Hindustan Petroleum Corporation in
race for acquiring Aditya Birla Group's 37.38 per cent stake in
Mangalore Refineries & Petrochemicals.

IndianOil has doubled its domestic currency borrowing limit to Rs
20,000 crore in the current financial year, and consequently reduced
its foreign currency loans to $4,500 million from the present $5,514
million after shareholders' approval.

Indianoil Corporation will start operating from this month the world's
highest location LPG plant, bulk depot and petrol station in Leh (Jammu
and Kashmir).

The Centre on 29th October ruled out divestment of its stake in Oil and
Natural Gas Corporation, Indian Oil Corporation and Gas Authority of
India, saying these flagship companies will continue to be under its
control in medium to long term. We have made it clear that government
will not dilute its control in these three flagship companies in view
of national oil security', union minister for petroleum and natural gas
Ram Naik told.

- During 2000-2001, the company has acquired the entire holding of
Government of India (GOI) in Chennai Petroleum Corporation (CPCL)
(51.81%) for Rs 509.33 crore and Bongaigaon Refinery & Petrochemicals
(BRPL) (74.46%) for Rs 148.80 crore, thereby making these companies
subsidiaries of your corporation and adding another 9.35 MMTPA rated
capacity.

- IOCL also has the largest marketing network in the country,
comprising over 21,000 sales points backed for supplies by 186 bulk
storage points and 71 Indane bottling plants. 92 Aviation Fuel Station
cater to the Aviation Industry, Defence as well as Civil. During
2000-01, 310 retail outlets were commissioned, raising the total number
of company's retail outlets to 7,549.

2001 -

The Indian Oil Corporation has planned a capital expenditure of Rs
5,850 crore during the current fiscal, for which it would raise Rs 940
crore from market borrowings.

The cash-strapped Indian Oil Corporation (IOC) has sought a Rs
1,500-2,000 crore loan from the Oil Industry Development Board (OIDB)
to meet its working capital requirement.

Assam Oil Division of IOC In past two decades, IOC invested around Rs
1500 crores to turn Digboi refinery into a modern refinery. Which is
now 100 years old still running well..

- The company has also completed the restructuring of marketing set up
to improve response to the customer needs and 15 state offices have
become fully operational. In the overseas business, the company
continues to explore new opportunities and coordinate business
activities between its various overseas offices at Dubai, Kuwait, Kuala
Lumpur and Mauritius.

2002

- RPL-IOC tie- up skids on Hydrocarbon Vision 2025

- Indian Oil Corporation (IOC) and Sundaram Finance Ltd announced the commissioning of of their co-branded, value-added, fleet card- Powerplus, to be available in two options-debit and credit card.

-New IOC chief M S Ramachandran on April 1st took over as chairman of the company.

-IOC signs MoU with Ceylon Petroleum Corporation to retail petrol and diesel in Sri Lanka.

- Indian Oil Corporation (IOC) has signed a deal with Nepal Oil Corporation for a five-year supply and a technical expertise agreement with effect from April 1, 2002.

- Indian Oil Corporation will be selling auto fuels in Sri Lanka by taking over 100 retail outlets of Ceylon Petroleum Corporation. The company has signed the memorandum of understanding with Ceylon Petroleum

- V.K. Chaudhri takes charge at regional level.

- IOC, Gujarat Positra tie-up to set up petroleum infrastructure.

- Indian Oil Corporation (IOC) introduced a new customer service called 'tank truck security system' in Andhra Pradesh.

- Indian Oil Corporation has signed a one year $100 million term contract to supply 30,000 tonnes of diesel and 10,000 tonnes of jet fuel a month to Sri Lanka.

- Indian Oil Corporation (IOC) tied-up with the Bhushan Group of Industries to supply petroleum products.

- IOC launches Eco-friendly fuel 'Autogas'.

- Indian Oil Corporation (IOC) has opened a 100 per cent subsidiary and floated a joint venture company in partnership with Ceylon Petroleum Corporation in Sri Lanka. Lanka IOC Ltd.

- The Indian Oil Corporation (IOC) launched the country's first high-octane petrol and superior quality diesel 'IOC Premium' and 'Superior Diesel'.

- IOC signs agreement with Gujarat Port for crude oil handling.

-N.R. Raje appointed as Director of IOC R&D.

-Indian Oil Corporation Ltd has informed that Shri Naresh Kumar Nayyar has been appointed as Additional Director and designated as Director (Planning & Business Development) with effect from October 10, 2002.Shri Naresh Narad, a government nominee representing Ministry of Petroleum and Natural Gas on the Board of the company ceased to be a Director with effect from November 11, 2002.

- IOC ties up with Tata for Lubricant supply.

- IOC ties up with Citibank-unveils co-branded debit card.

- Shri M.S. Srinivasan appointed as additional director on the Board of IOC.

- IOC ties up with Honeywell for re-engineering project.

2003

- Dr A K Bhatnagar ceases to be a Director of Indian Oil Corp.

- IOC introduces eco-friendly auto LPG in eastern India.

- Indian Oil Corporation unveiled higher-octane petrol and additive-reinforced diesel in Chennai. The petrol, called 'IOC premium petrol' has an octane rating of 91, vis--vis the normal 88 octane petrol.

- Indian Oil Corporation Ltd has informed BSE that Dr A K Bhatnagar, Director (R&D) has superannuated from the services of the Corporation on December 31, 2002 and consequently ceases to be a Director (R&D) of the Company. The corporation has further informed that Shri N R Raje has been appointed as an Additional Director and designated as Director (R&D) effective January 01, 2003 in place of Dr A K Bhatnagar.

- Railways enters into a joint venture with IOC for production of bio-diesel.

- Indian Oil Corporation Ltd has informed that 1) Shri Shivraj Singh, a Government nominee representing Ministry of Petroleum & Natural Gas on the Board of the company ceased to be a Director effective March 14, 2003. 2) Shri A.K. Arora, Director (Refineries) on the Board of the company has ceased to be a Director consequent upon superannuation effective March 31, 2003. 3) Shri Jaspal Singh has been appointed as Additional Director and designated as Director (Refineries) effective April 01, 2003.

- IOC rolls out 'IOC Xtra' programme for My Shoppe card

- IOC inks agreement to import 7.5 mt crude oil from Kuwait.

- IOC foray into an alliance with Total for R&D, marketing.

- IOC ties up BSNL to sell each others product.

- Indian Oil Corporation Ltd has informed that Dr. Surajit Mitra (A government Nominee) representing Ministry of Petroleum & Natural Gas on the Board of the Company has ceased to be a Director effective July 16, 2003.

- IOC, Tata Motors enter into MoU to promote marketing services.

- IOC sign pact with BP for crude imports from Egypt.

- Indian Oil Corporation Ltd has informed the following changes in Board of Directors of the company:
1. Shri P M Sinha, V Ranganathan, V K Agrawal have been appointed as Additional Directors (Part time non official directors) effective August 28, 2003.
2. Dr R K Pachauri, Shri L Sabaretnam and Shri M Kalyanasundaram ceased to be directors (part time non official directors) effective August 28, 2003.
3. Dr N G Kannan has been appointed as additional director and designated as director (Human Resources) effective September 1, 2003 in place of Shri A K Mitra who ceased to be director (Human Resource) effective August 31, 2003.

- Indian Oil Corporation Ltd has informed that Shri Badal Kumar Das, a government nominee, representing Ministry of Petroleum & Natural Gas has been appointed as Additional Director on the board of the company.

- Visakhapatnam's Indian Oil Corporation has launched gasohol petrol mixed with 5 % ethanol on September 11.

-Unveils new campaign called 'bagful of offers' from September 1 to promote premium petrol

-Indian Oil Corporation has inked an loan agreement with Singapore based BNP Paribas, to mop up $100 million oil import financing facility for one year.

2004

-Launches its premium, hi-octane petrol, Xtra Premium in Visakhapatnam

-BIFR grants IOC to take legal action against Konaria Ind

- Indian Oil Corporation (IOC) will float a special purpose vehicle (SPV) for building 5 million tonne (mt) of strategic oil reserves at an estimated cost of Rs 1,640 crore.

-IOC awards Rs 20 cr order to Bhart Heavy Electricals Ltd

-Indian Oil Corporation Ltd has informed that IndianOil being a Government Company, the office of the Comptroller & Auditor General of India has appointed M/s Suresh Chandra & Associates and M/s Lovelock & Lewes to be the statutory auditors of the Company for the financial year 2003-04 in place of M/s Jagdish Chand & Co. and M/s P K Mitra & Co. respectively.

-IOC inks pact with Coffee Day Xpress

-IOC unveils Servo brand in UAE

-Orissa, IOC ink pact for Paradip refinery

-Ties up with Essar Steel for LNG (Liquefied natural Gas) sale

-Indian Oil and BSNL have tied up with the Chennai-based e-Logistics for providing a low-cost, real-time truck tracking facility for fleet owners

- Indian Oil Corporation (IOC) has emerged as the No 1 company in oil trading among national oil companies in the Asia-Pacific region.

-IOC secures top slot in Forbes 2000 list

-Ashok Leyland Ltd (ALL) and Indian Oil Corporation (IOC) have joined hands to offer freight management services across the country

-Bharat Sanchar Nigam Ltd (BSNL) on April 12 launched the sale of its products and services at the IndianOil Corporation's (IOC) outlets in Chennai

-Oil marketing major IOC has tied up with L&T and EIL to bid for pipeline and refinery revamp projects in Iran , Oman and Sudan

-Indian Oil Corporation and Citibank unveils IndianOil Citibank Gold Credit Card with a fuel loyalty programme

-- Indian Oil Corporation Ltd (IOC) has finalised a deal with Reliance Industries Ltd for offtake of diesel, motor spirits, kerosene and liquefied petroleum gas (LPG) from the latter

-IOC inks pact with IIM-A

-IOC on June 26 signed a memorandum of understanding with HPCL

-ABB Lummus Global has been selected by Indian Oil Corporation to replace an existing feed effluent heat exchanger in the catalytic reforming unit at its refinery in Mathura

-The national technology award for successful commercialisation of indigenous technology was awarded to Indian Oil Corporation Ltd on June 30, 2004, for commercialisation of the conversion of the residue and other heavy hydrocarbons into LPG and high-octane gasoline using INDIMAX catalyst in a fluidised bed reactor regenerated system

-IOC kicks off largest LAB plant in Gujarat

-On September 09, 2004, signs memorandum of understanding with Nepal Oil Corporation for laying a 35 kilometre product pipeline between Raxual and Amlekhganj.

-IOC forges alliance with JK Tyres on October 20, 2004

-IOC inks pact with Usha International

-IOC appoints Shri P K Sinha as Director with effect from December 22, 2004.

2005

- A Consortium of Indian Oil Corporation (IOC) and Oil India Ltd (OIL) has won an on shore oil block - Block 086 - in the highly prospective Sirte basin in Libya.

-SpiceJet in alliance with IOC on May 05, 2005

- Gail India Ltd and Indian Oil Corporation Ltd (IOC) sign a Joint venture agreement on May 11, 2005 for implementation of city gas projects in Agra and Lucknow.

-IOC joins hands with Turkey co to bid for Tupras Refinery

-Gulf Oil ties up with Indian Oil for sale of car care products

-IOC purchases 4 mn barrels of Nigerian crude

-IOC inks pact with Ashok Leyland for use of engine oils

2006

-Indian Oil Corporation (IOC) and National Sugar Cooperative Federation (NSCF) entered into a memorandum of understanding for ethanol supply.

-BIAL, IOC tie up for fuel station.

-IOC inks pact with U21Global to give management training to employees.

-IOC joins hand with IFP to offer management programmes.

2007

-Indian Oil Corporation Ltd (IOC) has appointed Shri. S Sundareshan as Director of the Company with effect from May 28, 2007.

- IndianOil signs MoU with government of Chattisgarh for commercial biodiesel production

- IndianOil signs MOU with UAE Exchange

- IndianOil signs agreement with Pragati Power for supply of R-LNG to Bawana Power Plant

2008
- IndianOil ties up with HUL for Kwality Walls Kiosks at Petrol Stations

- IndianOil's MoU with Govt. focuses on ushering in cleaner and sustainable energy sources

- IndianOil signs MoU with Transparency International India for implementing Integrity Pact

- IndianOils 'LNG at Doorstep' facility inaugurated at H&R Johnson

2009

- IndianOil moves up 11 places in the Fortune Global 500 list, ranked 105

- IndianOil receives the MoU Excellence Award 2007-08

- IndianOil and Adani Energy Limited (AEnL) sign MoU on City Gas Distribution

- IndianOil Chairman Sarthak Behuria Conferred 'SCOPE Individual Excellence Award'

- IndianOil signs MoU with PA LLC of Florida

2010

- Indian Oil Corporation Ltd has appointed Mr. Sudhir Bhargava, Additional Secretary, Ministry of Petroleum and Natural Gas, Government of India as Director of the Company with effect from March 23, 2010.

- Indian Oil Corporation Ltd has appointed Dr. R. K. Malhotra, as Director(Research & Development) of the Company with effect from August 05, 2010.
 
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