IOC (Indian Oil Corporation) – India’s Largest Commercial Enterprise
Indian Oil Corporation is the India’s largest profit making public enterprise. They engaged in refining, pipeline transportation and marketing of petroleum products to Research & Development, Exploration & Production, marketing of natural gas and petrochemicals.
IOC is one of the largest petroleum marketing and distribution networks in Asia. Indian Oil controls 11 of India’s 23 refineries. This corporation has a half of the Indian petroleum products market share, 35% national refining capacity. They undertakes initiatives like green auto fuels, energy-efficient technologies, tapping of alternative, renewable energy sources, etc.
Indane Gas is the product of Indian Oil Corporation, which is the largest packed LPG brands in the world. Their main products are Domestic LPG, Commercial LPG, Bulk LPG, Auto Gas LPG, Non Fuel Products. LPG cooking fuel is a inevitable thing in every one, especially women’s life. It helps the women to make the food very easily and which needs less time compared to the firewood.
There is a scheme related to this LPG connection. That is ” Pradhan Mantri Ujjwala Yoja “, ( PMUY ) is a welfare scheme of Government of India, launched by our PM Narendra Modi in 2016. This scheme is started with the objective of providing 50,000,000 LPG connections to women from families below poverty line. Women’s get more benefits from this scheme, cooking on gas stoves helped save at least 1-2 hours daily.
Their global GDP growth is projected 3.4% in 2017 and they targets 3.8% in 2018. The global oil demand rose to 96.8 mbpd ( million barrels per day ) in 2016-17 as compared to 95.3 mbpd in 2015-16. 57% of global oil demand in transportation sector. Financial revenue of IOC is Rs. 4,38,710 Crore in 2016-17 and Rs.3,99,105 Crore in 2015-16. Profit after tax increases from Rs. 11,242 Crore to Rs. 19,106 Crore and earning per share is 23.72 in 2015-16 and
40.31 in 2016-17.