IndianOil Gears Up to fight Second Wave
Despite Challenges displays Robust Performance during 21-22
Indian Oil Corporation Ltd. (IndianOil), in line with its philosophy of ‘India First’, led the Industry amidst the devastating pandemic to strengthen and expand the nationwide infrastructure across its Refineries, Pipelines and Marketing divisions. IndianOil met its targeted capital expenditure of Rs. 26,233 crore for the year 2020-21 and exceeded it with a total CAPEX spend of Rs 27,194 crore.
Addressing a virtual press conference today, Mr SM Vaidya, Chairman, IndianOil, acknowledged the collective strength, courage, resilience and synergy of the 32,000 plus employees, channel partners’ eco-system of over 4 lakh frontline workers, truck crew and other contract labour for standing united with inspirational fortitude overcoming personal challenges and maintaining all assets functioning normally. He saluted them for keeping the fuel supply lines going and serving the nation even during the peak of the pandemic.
Amidst the severe second wave, IndianOil continues to stand by the Nation by cutting down the production at its petrochemical plant at Panipat to produce Liquid Medical Oxygen (LMO) and supplying it to various hospitals in Delhi, Haryana & Punjab. On 19th April 2021, IndianOil dispatched the first load from its Panipat Refinery & Petrochemical Complex and is presently supplying 270 MT of medical grade oxygen per day. IndianOil is among the few entities entrusted by the Govt. of India to coordinate the logistics, transport & supply of oxygen. For this purpose, IndianOil is efficiently leveraging the dedicated app/portal ‘Sanjeevani Express’ to augment and strengthen the supply & logistics of medical grade oxygen across the country. It has already positioned 41 liquid oxygen-carrying vehicles (capacity of 780 MT) and is importing 207 ISO Containers for storage & transportation. The total carrying capacity of LMO will be 1760 MT by the end of May 2021, which will be enhanced to 5820 MT by the end of June 2021. Additionally, another ten road tankers (capacity of 20MT each) are being fabricated at IndianOil’s Cryogenic Plant at Nasik.
Displaying a sense of urgency, IndianOil, in association with the Govt. of Harya-na, has set up Oxygen supply through a pipeline to the newly set up fully equipped 500 bed Covid Care Centre close to the Panipat Refinery. The facility was inaugurated on 16th May ‘21 by Shri Dharmendra Pradhan, Hon’ble MoPNG & Steel and Shri Manohar Lal, Hon’ble Chief Minister of Haryana.
Sharing the highlights of IndianOil’s performance in FY 2020-21 with the national media, Mr SM Vaidya said that the Corporation registered domestic sales of 72.71 million metric tonnes (MMT) in 2020-21, besides exports of 3.1 MMT. Its nine re-fineries clocked a throughput of 62.4 MMT. The Corporation’s pipelines network, now spanning over 15,000 km, registered a throughput of 76 MMT of crude oil and products for the year. The Corporation enlarged and diversified its crude oil basket during the year 2020-21 by adding 17 new imported grades to its crude oil basket of 201 grades from over 44 countries.
The Corporation sold 4.77 MMT of Gas (RLNG) in 2020-21 against 4.72 MMT in 2019-20, registering 19% growth. Petrochemicals sales in 2020-21 were an all-time high of 2.51 MMT. The Corporation’s share of production from eight producing assets where it has participating interest was 3.86 MMToe in 2020-21.
IndianOil’s most significant achievement for the year was the remarkable agility with which IOCians across divisions leveraged digital technologies for ensuring business continuity and serve its stakeholder family with minimal disruption. All operating locations remained functional during the lockdown period, albeit with reduced staffing and all Covid related work protocol in place.
IndianOil commissioned a record 3000 new retail outlets, including 1196 Kisan Seva Kendra outlets. With this, its total number of fuel stations has exceeded a total of 32,000. In the LPG business, over 38 lakh new customers were added, and 293 LPG distributorships were commissioned, taking the Indane distributor-ship network to over 12,700. IndianOil also provided 6.68 crore LPG refills to customers under the Pradhan Mantri Garib Kalyan Yojana.
The Corporation boosted the Hydrogen economy efforts in the country by in-stalling an H-CNG Plant at Delhi for conducting a trial on 50 DTC buses. A Statement of Intent (SoI) was also signed with M/s Green stat, Norway, for setting up a Centre of Excellence on Hydrogen (CoE-H) to facilitate transfer and sharing of know-how and experience across the Hydrogen value chain, including hydrogen storage and fuel cells. In another significant step towards E-mobility, IOC Phinergy Pvt. Ltd., a 50:50 JV Company with Phinergy Ltd. of Israel, was incorporated to commercialise Aluminium Air Battery Technology in India. In 2020-21, IndianOil’s research pursuits yielded 169 patents (69 in India and 100 overseas), taking its total filed patents to 1294.
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