Indian Oil Corporation Limited is an Indian state owned oil and gas company headquartered in New Delhi.

Paradip refinery is the 11th refinery being set up by Indian Oil Corporation in Paradip town in the state of Odisha. The installed capacity of refinery wis 15 MMTPA.

Paradip refinery expected to start production in the third quarter of 2013. Due to delays the cost of refinery project has increased by 2.5%.

It was finally inaugurated by Prime Minister Narendra Modi on February 7, 2016.

The refinery is built at a cost of Rs 34,555 crore and can process dirty and heavy crude oil from Latin America.

Located 140 km from the state capital Bhubaneswar, Paradip refinery is one of the most modern refineries in the world which can process cheaper high sulfur heavy crude oils. It has a complexity factor of 12.2.

Company profile:
Type Public limited company
Traded as BSE: 530965
NSE: IOC
Industry Oil and gas
Predecessor Indian Refineries Ltd. (1958)
Indian Oil Company (1959)
Founded 1964; 53 years ago in New Delhi
Headquarters New Delhi, India
(Corporate Office)
IndianOil Bhavan, New Delhi, India
(Registered office)
Area served India, Sri Lanka, Middle East, Mauritius
Key people Sanjiv Singh (Chairman)
Products Petroleum, natural gas, and other petrochemicals
Revenue 364,081.74 crore (US$57 billion) (2017)
Operating income 26,321.24 crore (US$4.1 billion) (2017)
Net income 19,106.4 crore (US$3.0 billion) (2017)
Total assets 150,113.52 crore (US$23 billion) (2017)
Number of employees 33,135 (2017)
Subsidiaries IndianOil (Mauritius) Ltd.
Lanka IOC PLC
IOC Middle East FZE