Minister of Petroleum and Natural Gas
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Indian Oil Corporation Limited is a Government of India undertaking formed in 1964 by the merger of Indian Oil Company Limited with Indian Refineries Limited. The Corporation has five divisions including the Refineries Division.
The Indian oil group has refining capacity of 80.2 MMTPA as on 1.4.2020 and accounts for ~32% of total national refining capacity of 248.9 MMTPA - the largest share among refining companies in India. Indian Oil group owns and operates 11 of India's 23 refineries - ranging from the oldest one in the country at Digboi (capacity - 0.65 MMTPA) which commenced operations in 1901, to the latest at Paradip (capacity - 15 MMTPA) which was dedicated to the nation in 2016. The strength of Indian Oil springs from its experience of operating the largest number of refineries in India and adapting a variety of refining processes coupled with state-of-the-art refining technology.
Refineries form the backbone of the Indian economy. Indian Oil refineries cater to the demand of petroleum products in the country, of which Motor Spirit, Diesel and Aviation Fuel, constitute the major part of transportation fuels, and kerosene and LPG for households fuels. In addition, some special products, such as lube oil base stocks and wax are also produced. The refineries also produce & supply polymers and petrochemicals for downstream plastic and petrochemical industries.
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