India has a population of over one billion inhabitants.
How does the oil industry manage to supply to a country of these proportions?
Without doubt, the giant oil company’s name is spot-on: IndianOil (IndianOil Corporation)
The country has an oil reservs of 125 million tons, making it the second largest in the Asia Pacific after China. Nevertheless, the exponential economic growth in India’s recent history has led to the need for foreign imports.
India has five oil companies: in the private sector, Reliance Industries and Essar Oil; and in the public sector, Hindustan Petroleum, Bharat Petroleum and Indian Oil.
The last on the list is a gret star for Business Initiative Directions. In 1999, Indian Oil Corporation received an International Star for Quality Award for their commitment to innovation and excellence in quality management.
15 years later, the company ranked 83 in the Fortune Global 500 list as a state-owned company. Thanks to its production and management of oil and natural gas, it’s the biggest public company in India.
And if these figures weren’t enough, IndianOil is also number 18 in terms of oil companies in the world and number one among national oil companies operating in the Asia Pacific.
The company began in 1959 and has enabled the economic development of its country by way of making infrastructure in previously inaccessible areas. They have a registered staff of 34,233 employees working in a total of 5 brands and 9 refineries.