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| Last Updated: April 15, 2008 |
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The year 2007-08 turned out to be yet another year of continued growth for the Indian economy. For IndianOil too, it was clearly one more year of sustained growth. The Corporation's refineries surpassed 100% capacity utilisation and achieved the highest ever throughput of 47.4 million tonnes. Its pipelines network too registered the highest ever operational throughput of 56.80 million tonnes of crude oil and petroleum products. Sales volume went up to 58.1 million tonnes from 53.4 million tonnes in the previous year and market share grew from 47.9% last year to 48.9%. A major challenge during the year was the seamless merger of the stand-alone marketing subsidiary, IBP Co. Ltd., with IndianOil. A similar exercise is underway for merger of the refining subsidiary, Bongaigaon Refinery and Petrochemicals Ltd.
Several projects that augur well for the Corporation's future are either under execution or on the anvil. Major among them are: a crude oil pipeline from Paradip to Haldia, ready for commissioning; capacity augmentation at Panipat and Haldia refineries; MS quality improvement projects at Panipat and Mathura refineries; residue upgradation and MS/HSD quality improvement project at Gujarat Refinery; a Naphtha Cracker at Panipat; a 15 million metric tonnes per annum (MMTPA) integrated refinery-cum-petrochemicals complex at Paradip; and new product pipelines from Koyali to Ratlam, Chennai to Bangalore, Panipat to Jalandhar (LPG pipeline), and Mathura to Bharatpur.
At a time when the petroleum industry is moving towards new horizons, exploring new technologies, collaborating and developing symbiotic relationships to ensure secure, environment-friendly and affordable energy supplies, IndianOil too is seeking quantum leaps in its core business, adding on new and emerging segments on the way. To set the tone for the next level of growth, the Corporation has embarked on a new initiative titled V2 Confluence (Vision with Values) to revisit its corporate Vision and formulate a new and dynamic Vision.
Here are some highlights of the Corporation's performance during the year 2007-08:
Financial Performance
- The financial results for the year 2007-08 are under consolidation. However, for the nine months ended Dec. 2007, the Corporation's gross turnover moved up by 7% to Rs.1,77,223 crore, from Rs. 1,65,613 crore for the corresponding period of the previous year. The net profit for the three quarters went up by 23% to Rs. 7,377 crore as against Rs. 5,997 crore for the same period of the previous year
- As part of the Government-approved compensation mechanism for under-recoveries on the sale of the four major products (petrol, diesel, kerosene for public distribution and LPG for domestic use) for the year 2007-08, IndianOil has so far received Government of India's Special Oil Bonds worth Rs. 11,461 crore, in addition to Rs. 8,947 crore received till December 2007 from upstream companies towards subsidy-sharing.
- The Corporation managed its financials and fund requirements efficiently despite acute liquidity constraints in the face of unprecedented rise in crude oil prices. It raised short-term funds at low interest rates through the Collateralised Borrowing Lending Obligation window of the Clearing Corporation of India Ltd. Further, bonds worth Rs. 9,747 crore were successfully liquidated during the year
- To finance capital expenditure, IndianOil successfully placed its maiden bond issue of US$ 300 million in the US market through private placement of debt securities at a fixed coupon rate of 6.12% p.a. and average maturity of 10 years
- The Corporation undertook swap transactions of over US$ 2 billion in the form of Japanese Yen to US Dollar forwards to optimise borrowing cost
Refineries
- For the year 2007-08, IndianOil refineries surpassed 100% capacity utilisation and achieved the highest ever throughput of 47.4 million tonnes, registering a 7.7% growth in crude oil processing over the previous year
- For improved margins, the refineries processed the highest ever percentage of high-sulphur crude oil (48.8% as against the previous highest of 43.7% in 2006-07) and heavy crude oil (9.4% as against the previous highest of 3% in 2006-07). Stream-sharing between group refineries ensured better capacity utilisation and gross refining margins
- Three refineries achieved their highest levels of crude oil throughput during the year:
| Refinery |
2007-08 |
Previous Best |
| Gujarat |
13,715 |
12,953 (2006-07) |
| Panipat |
12,830 |
9,434 (2006-07) |
| Barauni |
5,640 |
5,553 (2005-06) |
| (Figs. in Thousand Metric Tonnes or TMT) |
- Committed efforts by the refineries in energy conservation resulted in further reduction in overall energy consumption to 67 MBTU/BBL/NRGF (Million British Thermal Units / Barrel / Energy Factor) during 2007-08 against the previous lowest of 71 in 2006-07
- During the year, each of the seven refineries initiated action on a Clean Development Mechanism (CDM) project under the United Nations Framework Convention for Climate Change for reduction of greenhouse gas emissions. Twelve more projects have been identified in the second phase at Barauni, Haldia, Gujarat, Mathura and Panipat refineries
- The year 2007-08 saw planned shutdowns at all the major refineries. Due to efficient strategic planning, major turnarounds such as that of Mathura, Gujarat and Panipat refineries went virtually unnoticed since smooth product supplies were maintained
- Abhiyan Gyan Drishtee, an in-house knowledge portal, was launched to collate and benefit from the Corporation's intellectual capital in various facets of the business
Pipelines
- During the year, IndianOil's pipelines network registered the highest ever operational throughput of 56.80 million tonnes of crude oil and petroleum products
- Compared to the previous year, the product pipelines achieved an 11.08% increase in throughput at 20.96 million tonnes while the crude oil pipelines registered a 10.48% growth at 35.84 million tonnes
- During the year, IndianOil opened new facilities at Mundra port on the west coast for handling of heavy crude oil and blending of heavy and normal grades. The augmentation of the Bongaigaon-Siliguri section of Guwahati-Siliguri pipeline also went online during the year
- Over 40 tankers unloaded crude oil at Mundra during the year while Vadinar terminal, with two Single Point Mooring systems, handled 150 crude oil tankers, including 70 VLCCs (very large crude carriers). Nearly 300 tankers were handled at Haldia on the east coast for crude oil supplies to Barauni, Haldia and Bongaigaon refineries.
Marketing
- IndianOil achieved a domestic sales volume of 58.1 million tonnes for the year 2007-08, up from 53.4 million tonnes recorded in the previous year
- Market leadership was maintained in the direct consumer business with a growth of 2.4% in market share; long-standing business ties with core sector customers like Defence, Railways, State Transport Undertakings, etc., were further strengthened through several innovative initiatives
- Retail sales in MS and HSD registered record growth of 13% and over 14% respectively
- Branded fuels XTRAPREMIUM petrol and XTRAMILE maintained their leadership status, registering 89% and 65% growth in sales respectively as compared to the previous year. XTRAPREMIUM and XTRAMILE were introduced in 2,095 and 1,598 more outlets respectively during the year, extending their availability to 6,488 and 9,946 retail outlets
- Use of XTRAPOWER fleet card went up by 24%. Five new XTRAPOWER service centres were opened near transport hubs to provide quick and efficient service to users
- XTRAREWARDS loyalty card programme, for rewarding and retaining retail customers with free fuel and gifts from alliance partners, crossed the one-lakh mark during the year
- Over 900 retail outlets were upgraded to XTRACARE standards and about 1,000 outlets fully automated during the year. The process of third-party certification was extended to more outlets during the year and now covers about 6,500 outlets
- Non-domestic packed LPG sales recorded a 41% growth while bulk LPG sales registered a 38% growth over the previous year; Autogas sales touched 90 thousand tonnes, a growth of 53% over the previous year
- SERVO lubricants achieved over 4.5% growth while base oil sales grew by 29% as compared to the previous year. 130 SERVOXpress Centres were commissioned for autocare service
- Export of SERVO lubricants grew by 56% during the year with tapping of new markets in Indonesia, Vietnam, Nigeria and Oman and appointment of new distributors in Bahrain and Qatar
- IndianOil continued to be the leader in aviation fuel business with a market share of 62.6%. It met the full requirements of aviation fuels of the Army, Navy and over 88% of the Air Force. Marine sales grew by about 12%
- IndianOil pioneered the launch of one-litre kerosene bottles during the year to tap the commercial segment, for which a mini pilot plant with a monthly capacity of 3 lakh bottles was set up at Rewari
- 'Manjunath Award for Retail Excellence' for the year 2006-07 was bagged by the Sambhalpur Divisional Office in Orissa for the second consecutive year, with the Patna Divisional Office emerging as runner-up
| Marketing Infrastructure |
| |
Added during 2007-08 |
Total as on 31st March 2008 |
| Retail Outlets (excludes KSK stations) |
469 |
15,557 |
| Kisan Seva Kendras |
726 |
2,049 |
| Bulk Consumer Pumps |
357 |
7,147 |
| Indane (LPG) Distributorships |
36 |
4,996 |
| Indane Customers (Lakhs) |
32 |
498.50 |
| LPG Bottling Plants |
1* |
89 |
| LPG Bottling Capacity (TMTPA) |
103 |
4,131 |
| Autogas (LPG) Dispensing Stations |
50 |
157 |
| ROs with CNG Dispensing Stations |
58 |
74 |
| Aviation Fuel Stations (AFS) |
4** |
101 |
* At Raipur (Sawai Madhopur plant closed)
** At Surat, Daman, Colaba and Kolhapur |
International Trade & Shipping
- Continuing with direct chartering of ships for petroleum imports, IndianOil imported a record quantity of 46.11 million tonnes of crude oil in 2007-08 as against 42.68 million tonnes in 2006-07. This includes crude oil imported for Chennai Petroleum Corporation Ltd, a group company
- An Integrated Planning model was implemented for evaluation and procurement of the most optimal crude oils to enhance profitability
- Several new grades were procured from Angola, Nigeria, Cameroon, Equatorial Guinea and Malaysia to widen the crude oil basket
- Services of VLCC tankers were used wherever possible to reduce freight costs
- In a first among oil PSUs, IndianOil commenced trading on the Multi Commodity Exchange of India (MCX) and obtained Reserve Bank of India approval to hedge oil inventories
Research & Development
- IndianOil R&D filed 18 patents during the year, of which 12 were approved, including one US patent. This takes the total number of patents to nearly 120, including over 50 international patents.
- 186 lubricant formulations were developed during the year, of which 160 were commercialised. 46 approvals were also received from OEMs (Original Equipment Manufacturers)
- The in-house developed Needle Coke technology was licenced to Numaligarh Refineries Ltd., the first time to a company outside the IndianOil Group
- A bio-gas plant and bio-mass gasifier plant were commissioned at the R&D Centre for conducting research into energy efficient burner and related work
- A Memorandum of Understanding was signed with Saudi Aramco for research into cracking of refinery condensate for generating value-added products
HR Initiatives
V2 Confluence (Vision with Values)
- Since 1999, when IndianOilPeople gave themselves a Corporate Vision, the Corporation has made much progress in fulfillment of its Vision and the business environment too has undergone a sea change. This has necessitated a new Vision that truly reflects IndianOil's new goals and aspirations, and its core values in particular.
- Keeping this in view, the Corporation launched a unique re-visioning exercise titled V2 Confluence (Vision with Values) in three phases. The first phase elicited valuable inputs from across the organisation through face-to-face interactions, an internet-based questionnaire and direct replies in writing and by e-mail. In the second phase, a cross-section of senior management representatives, past and present, pooled these responses and their thoughts at a two-day workshop to identify the basic elements that would go to form the new Vision. In the current (third and final) phase, about 50 workshops are being conducted to engage many more colleagues in the exercise and capture their perspective one more time before finalising the Vision statement
Seamless Merger of IBP
- In a major restructuring exercise, the entire petroleum business of IBP Co. Ltd. was integrated with IndianOil's petroleum marketing business within three months of its formal merger on 2nd May 2007. All executives as well as non-executives engaged in the Petroleum business of erstwhile IBP were re-deployed at various locations/offices of Marketing Division. The best part of the integration exercise was that it could be achieved with least pain to the people
- Swift integration of the countrywide assets and operations of both the companies led to a larger and more formidable sales network of over 17,600 retail outlets by the end of the year. The 49 IndianOil Divisional Offices (DOs) and the 30 IBP DOs were replaced by a full complement of 66 DOs covering 450 sales areas
Recruitment, Retention & Development of Talent
- Robust economic growth and continuing boom in retail, banking, insurance and other segments in the services sector have intensified competition for trained manpower. This is posing a major challenge for IndianOil's Human Resources function in not only recruiting quality manpower but also retaining them and training them to be future leaders. The HR group took a number of initiatives in response to this challenge:
- Recruitment: The campus recruitment process was reviewed and revamped in line with the changing trends in the job market and to suit the new skillsets needed in the changing business scenario. For the first time, an audio-visual film was incorporated into the pre-placement presentation, and at most of the campuses, an alumnus of that institute working with IndianOil made the presentation to establish an immediate connect with the prospective employees. These initiatives helped the Corporation get preferential allotment of slots by reputed institutes during the campus selection process
The Corporation also undertook direct recruitment of experienced talent at middle level management positions in new business areas such as Bio-fuels, Oil Exploration & Production and Petrochemicals
- Retention/Engagement: A comprehensive Employee Engagement Survey was conducted for both executives and non-executives across the organisation in association with International Management Institute, Delhi. The findings collated at the corporate level showed a fairly high level of employee engagement. Critical drivers of engagement were identified in some areas where improvement is required and an action plan has been initiated for improvements in identified areas at the unit level.
- Development: A series of long-duration training & development interventions - both functional and developmental - were carried out with focus on building leadership capabilities, strategic orientation and skills to suit new businesses
The competencies and key result areas of pivotal roles in the organisation are being reviewed and reframed in the current business context and 'Development Centre' programmes held for bridging the gaps
Two Hybrid Certificate Programmes on Project Management were conducted, successfully rolling out 2 batches of certified Project Managers. Developed by IndianOil Institute of Petroleum Management (IiPM) in association with U21Global, Singapore, this programme blends online learning and face-to-face interaction with faculty, thereby creating a virtual classroom on the participant's desktop
Fostering Core Values
- As part of the Corporation's efforts to foster the core values of Care, Innovation, Passion & Trust in its work culture, customer relations and business dealings, a four-part compilation of 80 stories representative of the four values was brought out in the form of a book. Copies of the book, unveiled by the Chairman during the IndianOil Day 2007 celebrations at Delhi, were sent to all units for distribution among IndianOilPeople
- As a special gesture to recognise the contribution of past generations of IndianOilPeople to the growth of the organisation, retired employees who attained 75 years of age were felicitated on IndianOil Day 2007 with a shawl and a silver plaque each
SCOPE Recognition for Best HR Practices
- The Corporation received the prestigious 'SCOPE Meritorious Award for Best Practices In Human Resource Management - 2005-06' in 2007 in recognition of its innovative HR practices "that are well-tuned with its business strategies and fully aligned with its corporate vision of becoming a major, diversified, integrated energy company." The award cites IndianOil's strong employee-centric HR policy that fully credits its success to the dedicated and committed efforts of its people, its focus on inculcating core values within the organisation, besides continuous benchmarking of HR processes and update of skill sets to fully harness new and emerging business opportunities
IS and Optimisation
- The centralised computing and communication infrastructure at Gurgaon designed to provide high availability, non-interruptive access to business across India resulted in 100% uptime of business applications
- The combination of expertise in the oil industry and skills in SAP applications opened up new vistas of consultancy projects for IndianOil. In the year 2007-08, Corporate IS won SAP implementation assignments from the Sri Lankan oil industry consisting of Lanka IOC Ltd, Ceylon Petroleum Corporation Ltd. and Ceylon Petroleum Storage Terminals Ltd., in addition to IndianOil Petronas Pvt. Ltd.
- New add-on software packages were implemented as part of the second phase of Project Manthan. For instance, Transport Scheduling, a software which interacts between current inventory levels, orders, forecasts and production schedules to predict future inventory levels at the various locations and offers the facility of graphic representation of the outcome of various "what if" simulations to the scheduler, was configured and tested during the course of the year. This software is expected to be fully implemented at Marketing HO and Regional Offices by April 2008
- Other Add-on packages such as Data Reconciliation & Yield Accounting (DRYA), the first of its kind in PSU refineries, has been fully implemented at Mathura Refinery and is currently under implementation at Panipat and Gujarat refineries. DRYA provides reconciled material balance across individual process units as well as across the total refinery on a daily basis. It not only identifies deviations in actual yield pattern compared to plan, but also provides inputs to take corrective actions to bridge the gap
- Work on implementation of a Real Time Database Management System was completed at Panipat, Haldia, Barauni, Guwahati and Digboi refineries. This package collects data in a real time environment and stores it in a structured manner for further analysis and use
- Optimisation models were utilised to finalise term contracts for import of SKO and export of Naphtha based on projected supply-demand balances. These models were also utilised to evaluate investments in some of the major infrastructure projects of the Corporation
Business Development
Integration Initiatives
1. Exploration & Production (E&P)
- The consortium of IndianOil, Oil India Ltd. (OIL) and Hindustan Oil Exploration Company (HOEC) has discovered gas in Assam and commerciality of the find is being established. IndianOil holds a participating interest of 43.5% in the gas block with HOEC as the operator
- The IndianOil-OIL-Sonatrach (Algeria) consortium has won Area 95/96 under the fourth round of international bidding in Libya, with Sonatrach as the operator
- IndianOil and OIL have incorporated a special purpose vehicle, Ind-OIL Overseas Ltd., at Port Louis, Mauritius, to jointly undertake activities related to the acquisition of overseas E&P assets
- The IndianOil Board has approved purchase of 5% equity of upstream major OIL on offer from the Government of India. The Government is divesting 10% of its equity in OIL to the general public as part of an initial public offer (IPO) and is selling a similar quantum to IndianOil, Bharat Petroleum and Hindustan Petroleum together
2. Petrochemicals(E&P)
- During the year, IndianOil emerged as the most preferred LAB (Linear Alkyl Benzene) supplier in the domestic market with two of the biggest buyers, Hindustan Unilever Ltd. and Ghari Detergents, committing a major portion of their sourcing to the Corporation. Globally, IOCLAB scaled another peak with Proctor & Gamble, the second biggest buyer of LAB worldwide, approving the product specifications. IndianOil is already the second biggest supplier to Unilever, the biggest global buyer of LAB
- IOCLAB sales grew by 12% over the previous year, as a cumulative of 7% growth in the domestic market and 27% growth in exports. In volume terms, this translated into sales of 133 thousand tonnes as against the plant capacity of 120 thousand tonnes, indicating a capacity utilisation of 110%
- LAB business generated revenues of over Rs. 800 crore during the year as compared to Rs. 697 crore in 2006-07. The domestic market share of IOCLAB is nearly 37%
- IOCLAB footprint expanded to Pakistan and Philippines during the year, taking its presence to nine countries. A maiden batch of Heavy Alkylate Benzene (HAB) was exported to China for use in blending with gasoline and as raw material for manufacture of lubricating oils for shock absorbers
- IndianOil completed its first full year in PTA (Purified Terephthalic Acid) business during 2007-08 with sales of 375 thousand tonnes and revenue of over Rs, 1,375 crore in the domestic market. IOCPTA is now a product well accepted by almost all major buyers in the country
- The Corporation exported Paraxylene to Indonesia (5,700 tonnes), Thailand (5,000 tonnes) and Malaysia (6,700 tonnes) during the year
A. Diversification Initiatives
1. Gas
- IndianOil sold 1.88 million tonnes of R-LNG (Regasified Liquefied Natural Gas) during 2007-08 as compared to 1.63 million tonnes in 2006-07, thus generating a turnover of Rs. 2,339 crore (Rs.1,899 crore in 2006-07)
- A technology innovation project 'LNG at the Doorstep' has been initiated to reach LNG directly to bulk consumers through cryogenic tankers for industrial as well as captive power applications. Supplies to two customers in Maharashtra and Gujarat have commenced
- Gas sales agreements have been signed with Pragati Power Corporation Ltd., Delhi, and Ratnagiri Gas & Power Pvt. Ltd. for supply of 2 mmscmd and 1.8 mmscmd of R-LNG per annum respectively
- In a significant development, IndianOil has signed an MoU with Petronet LNG Ltd. for joint development of an LNG import terminal at Ennore
- IndianOil has tied up with several partners for sourcing gas, significant among them being
- MoU with Deep Industries Ltd. to jointly develop and monetise gas produced from their three marginal fields in Jaisalmer and two CBM blocks (Godavari and Singrauli)
- Agreement with Great Eastern Energy Corporation Ltd. (GEECL) to set up city gas distribution networks in Asansol, Durgapur and Raniganj with Coal Bed Methane sourced from their blocks
- Franchise agreement with GEECL for retailing CNG through IndianOil retail outlets
- MOU with GAIL for incorporation of a joint venture company for city gas distribution in West Bengal
- Franchise agreement with SITI Energy Ltd. for retailing CNG at Moradabad
2. Bio-fuels
- The IndianOil Board has approved an amendment to the Company's Memorandum of Association to enable entry into the entire value chain of bio-diesel, and the shareholders' consent for the same was obtained through postal ballot
- IndianOil signed an MoU with the Government of Chhattisgarh for the formation of a joint venture to take up plantation of Jatropha and other activities related to bio-diesel production in the State
- The Government of Madhya Pradesh has allotted 2,000 hectares of revenue wasteland in Jhabua district to IndianOil for energy crop plantation
B. Globalisation
1. Exports & Consultancy
- IndianOil exported 1849.8 thousand tonnes of petroleum products during 2007-08
- The technical services and manpower secondment agreements of over a decade with Emirates National Oil Company, Dubai, have been extended by one more year
- The consultancy services contract for reduction in FCC shutdown time at Mina Al Ahmadi Refinery of Kuwait National Petroleum Company was completed during the year
- On the request of the Ministry of External Affairs, Government of India, IndianOil trained 176 officials of the Iraqi oil industry in petroleum operations. Training programmes were also conducted for engineers of Khartoum Refinery at Panipat and Haldia refineries. Personnel from Petronas' Melaka Refinery and the National Oil Company of Libya were also trained at Haldia Refinery
- The Turkish Energy Market Regulatory Authority has granted licence to IndianOil and Calik Enerji of Turkey for setting up a 15 MMTPA grassroots integrated refinery-cum-petrochemicals complex at Ceyhan in Southern Turkey. Discussions are underway with Calik Enerji, Eni (Italy), and KazMunay Gas (Kazakhstan) for formation of a consortium
- Discussions are also underway to finalise the share sale purchase agreement for acquiring 12.5% equity in the Trans-Anatolian Pipeline Company (TAPCO) promoted by Calik Enerji and Eni. TAPCO will develop and implement a 550-km crude oil pipeline of 50 MMTPA capacity from Samsun to Ceyhan
2. Overseas Business
A. IndianOil (Mauritius) Ltd.
- IndianOil (Mauritius) Ltd. (IOML) emerged as the leader in the highly competitive aviation business during the year, with a market share of 35%
- Overall sales grew by 16% to 189 thousand kilolitres (KL) as compared to 163 thousand KL in 2006-07. Sale of SERVO lubricants grew by 40% to 142 KL
- 5 new retail outlets were commissioned during the year, taking the total number to 13. With the commissioning of two new tanks, the total storage capacity of IOML's Mer Rouge terminal went up to 24 thousand tonnes
B. Lanka IOC Ltd.
- A new semi-automated 18,000 tonnes per annum Lube Blending Plant was commissioned at Trincomalee at a cost of US$ 5 Million. In addition, a state-of-the-art laboratory for testing fuels and lubricants was also commissioned at Trincomalee
- Bunkering business also commenced during the year
- To generate non-fuel revenues, Lanka IOC entered into a pact with Lanka Orix Leasing Corporation, a subsidiary of Orix Corporation, Japan, and a leading financial company in Sri Lanka, for leasing out space at retail outlets
- Eight new lube distributorships were commissioned during the year to expand the existing lube marketing network
- Several successful measures such as hedging and strategic procurement of fuels were undertaken to safeguard against price fluctuations in the international market
C. IndianOil Middle East FZE
- IndianOil Middle East FZE (IOME), set up to oversee the expansion of the Corporation's business in the Middle East, is mainly into blending of SERVO lubricants and marketing of lubricants and petroleum products in the Middle East, Africa and CIS countries
- During 2007-09, IOME sold 1,099 tonnes of finished lubes as compared to 209 tonnes in the previous year, an increase of over five times. Sale of base oils also grew from 3,854 tonnes to 11,546 tonnes
- SERVO distributors were appointed for Oman, Qatar and Bahrain and are under finalisation in UAE and Yemen. SERVO trademark has been registered in the UAE and is in process in Oman
Awards & Recognitions
- Moved up 18 more places in the Fortune 'Global 500' listing of the world's largest companies by sales for the year 2007; also listed at the 20th position in the 'Petroleum Refining' category of the listing
- Made it to the 5th rank in Refining & Marketing worldwide and 8th overall in Asia in Platts' Top 250 Global Energy Companies ranking for 2007
- Ranked 2nd among the top 50 most valuable brands of India by Brand Finance, a London-based global valuation firm
- Conferred the SCOPE Meritorious Award for Best Practices in Human Resource Management for the year 2005-06
- Won the first PetroFed 'Oil & Gas Corporate of the Year' Award. IndianOil won awards in three more categories - Project Management (Rs. 500-Rs 5,000 crore) for Gujarat Refinery and the 'Team Award' for IndianOil R&D team. The special 'Innovator of the Year (Individual) Award' was won by Mr. Nab Kumar Kalita, Master Technician, Guwahati Refinery
- Bagged the 'Retailer of the Year' award in the category of 'Rural Impact' at Asia Retail Congress and the award for the 'Most Admired Retailer of the Year' in the 'Rural Retailing' category at the India Retail Forum-2007 for its novel business model of Kisan Seva Kendra retail stations
- XTRAPOWER fleet card was presented with the Best Loyalty Award at the Brand Loyalty Summit
- Won the Infraline Energy Excellence Award for its contribution to the nation's energy security, community development and environment protection
- Topped the annual listings of Business Standard (BS 1000), Business India (Super 100), Business Today (BT 500) and The Economic Times (ET 500) for 2007
- Improved its ranking from 97 in 2006 to 93 in 2007 in The Economic Times Brand Equity annual survey of India's Most Trusted Brands; it climbed one step to the 7th position among the top 10 service brands
- IndianOil's Corporate IS setup at IiPM, Gurgaon has been certified by M/s SAP Singapore as 'Certified Customer Competence Centre' as a testimony of adoption and practice of efficient and effective processes and procedures for SAP software support and services
- Won two prestigious awards for unique business continuity solutions, excellence and innovations -- SAP ACE Award (Award for Customer Excellence) for the year 2007 from SAP AG, and the national award for 'Exemplary use of ICT by Public Sector Undertakings' under the aegis of the Ministry of Information Technology, Government of India
- Won the prestigious international PTAK prize for supply chain excellence from the International Supply Chain Education Alliance, USA
- Bagged the Silver Trophy of Indian Society for Training and Development (ISTD) for Innovative Training Practices for the year 2006-07
- Received the Safety Innovation Award-2007 from the Safety & Quality Forum of the Institution of Engineers (India) for the third consecutive year
- IndianOil Chairman, Mr. Sarthak Behuria, has been chosen to receive the prestigious 'SCOPE Award for Excellence and Outstanding Contribution to Public Sector Management - Individual Category' for the year 2006-07
- Mr. S.V. Narasimhan, Director (Finance), has been conferred with the coveted 'Award for Excellence in Finance in a PSU' by International Marketing Assessment-India
- IndianOil's Rohit Sharma made a dream debut in the Twenty20 World Cup in South Africa; his daredevil fifth-wicket stand of 85 runs with skipper Mahendra Dhoni against South Africa salvaged the Indian team from defeat
- As many as eight IndianOil sportstars were part of the Indian hockey team that lifted the Asia Cup in 2007. Baljeet Singh and Prabhjot Singh of IndianOil were adjudged 'Man of the Finals' and 'Man of the Tournament' respectively. In fact, the IndianOil hockey team won seven major hockey tournaments in the last one year
(Issued for internal circulation by Corporate Communications Dept., Corporate Office. All figures are provisional)
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