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A flagship oil company in India, Indian Oil Corporation Limited was formed in1964 as a result of merger between Indian Oil Company Ltd. and Indian Refineries Ltd. It is the largest company in India in terms of sales. The following are the salient features of the IOC Ltd:
- It is the 21st largest petroleum company in the world.
- Indian Oil is the highest ranked Indian company in the Fortune 'Global 500' list of companies.
- For the year 2005-06, the IndianOil group sold 54.6 million tonnes of petroleum products, including 2.09 million tonnes through exports.
- The Indian Oil Group of companies owns and operates 10 of India's 18 refineries.
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