IOC stands for Indian Oil Corporation. It is a state-owned oil and natural gas corporation headquartered in New Delhi, India. It is the largest commercial oil company in the country, and one of the largest publicly traded companies in India by revenue. The company was founded in 1959 as Indian Oil Company Ltd, and was later renamed as Indian Oil Corporation Ltd. in 1964.
IOC is engaged in the exploration, production, refining, transportation, and marketing of petroleum and petroleum products. The company operates through various business segments, including refining, pipeline transportation, and marketing of petroleum products. It also has a presence in the petrochemical and natural gas sectors.
IOC operates a number of refineries across the country, including the Koyali Refinery in Gujarat, the Panipat Refinery in Haryana, and the Barauni Refinery in Bihar. It also owns and operates a network of pipelines for the transportation of crude oil and petroleum products.
In addition to its domestic operations, IOC has a presence in the international market through its overseas subsidiaries and joint ventures. The company has also expanded its business into the retail sector, with a network of more than 30,000 petrol and diesel stations across the country.
IOC is also actively involved in corporate social responsibility initiatives, including programs related to education, health, and community development. The company is committed to sustainable development and has implemented various measures to reduce its environmental impact, including the use of cleaner fuels and energy-efficient technologies.
Overall Indian Oil Corporation Limited (IOCL) is a major Indian state-owned oil and natural gas corporation with its headquarters in New Delhi, India. It is the largest commercial oil company in the country, and one of the largest publicly traded companies in India by revenue. The company was founded in 1959 as Indian Oil Company Ltd, and was later renamed as Indian Oil Corporation Ltd. in 1964.