IndianOil Petronas Private Limited (IPPL) is a joint venture company, promoted by two FORTUNE 500® oil majors, one of them being Indian Oil Corporation Limited (IOCL) and the other being Petroliam Nasional Berhad (PETRONAS), Malaysia, the national oil company of Malaysia. The Joint Venture which came into existence in August,1997 with a Joint Venture Agreement under the aegis of Ministry of Petroleum and Natural Gas, was formally incorporated on 3rd December, 1998, by the formation of a Private Limited Company, with 50:50 Equity Participation of both the promoting companies.
IPPL's Business Mission:
To achieve International Standards of Excellence in all aspects of Energy with focus on Customer Delight through value products, Services and cost reduction.
To maximize creation of wealth value and satisfaction for the Share holders.
To attain leadership in developing, adopting and assimilating State of The Art Technology for competitive advantage.
To foster a culture of participation and innovation for employees growth and contribution.
To cultivate high standards of Business ethics and Total quality management for a strong corporate identity.
To help enrich the quality of life of the community and preserve ecological balance and heritage through a strong environment.
Optimize performance in every sphere including Client services by improving our business processes and creating better work environment for the employees.
Plans for future:
Making further in-roads to Southern India, esp. the automobile hub in Chennai.
Thrust for increasing the ALDS network in Southern India esp. Karnataka & Tamil Nadu.
Use of Solar Power as an alternate power supply source for Ennore in view of acute power shortage in Tamil Nadu State.
Thrust for expanding its business horizons, IPPL intends to commence LPG cylinder bottling on BOOT/BOO basis for PSU Oil Companies.
Provide Technical services to customers for liquid to gas conversion proposals on " Total Responsibility" basis.