IndianOil notches up a growth of 4.6% for year 2009-10

01 Jun '10

5 min read

To widen the crude oil basket, several new grades were procured from Australia, Kazakhstan, Algeria, Nigeria and Libya. Continuing with the direct chartering of ships for petroleum imports, crude imported for IndianOil touched 39 million tonnes in 2009-10. Four projects were commissioned for flare gas recovery systems at Digboi, Haldia, Barauni and Gujarat refineries.

New Businesses
Besides consolidation in core areas, IndianOil took big strides in new businesses during the year 2009-10.Integration Initiatives

Petrochemicals
During the year, IndianOil's LAB (Linear Alkyl Benzene) sales touched 124 TMT and over 19 TMT was exported to six countries including Yemen, Bangladesh, Korea, UAE and Australia. The PTA (Purified Terephthalic Acid) business expanded to cater to all major domestic customers and clocked a sales volume of 5,28,000 tonnes with a growth of over 30% from the previous year. IndianOil's largest petrochemicals investment, at a cost of Rs 14,400 crore - the Naphtha Cracker and downstream polymer units at Panipat - has been completed and the first batch of polymers dispatched.

Globalisation Initiatives - Overseas Subsidiaries

IndianOil (Mauritius) Ltd. (IOML)
In the year 2009-10, IOML's sales grew by 11% while the industry grew by (-)1.9%. The company emerged as the third largest player in the Mauritian petroleum industry. IOML also emerged as a leader in the aviation fuelling business with a market share of 41.9% and recorded its highest ever throughput of 262 TKL. The company's terminal at Mer Rouge received the ISO 9001-2008 accreditation, making it the only petroleum installation in the country to obtain the prestigious recognition.

Lanka IOC Plc (LIOC)
LIOC has been ranked No. 1 among Sri Lanka's leading listed companies for the third consecutive year. During the year, the overall market share of the company went up from 9.4% to 12.4%. It also achieved a market share of about 43.5% in the highly competitive bunker market, catering to all types of bunker fuels and lubricants at all ports of Sri Lanka. Five new lube distributors and 14 SERVOXpress outlets were commissioned during the year, besides the introduction of Nitrogen filling facilities for automotive tyres – the first of its kind in Sri Lanka.

IndianOil Middle-East FZE
IOME FZE is IndianOil's subsidiary in the Middle East and is mainly into blending and marketing of SERVO lubricants and marketing of petroleum products in the Middle East, Africa and CIS countries. During 2009-10, lubes sales grew by 120% over the previous year and finished lubes were exported to Qatar, Yemen, Bahrain, Oman, UAE and Nepal.

Indian Oil Corporation

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