Indian Oil Corporation Limited (IOCL)
- Maharatna status was awarded on August 3, 2023, based on a recommendation from the Ministry of Finance of the Indian government.
- Oil India Limited (OIL) is a government-owned enterprise playing a key role in exploring, developing, and producing crude oil and natural gas. It is also involved in transporting crude oil and manufacturing liquid petroleum gas.
- The Ministry of Petroleum and Natural Gas oversees its operations.
- OIL’s headquarters are situated in Duliajan, Assam, and it has offices in Duliajan, Noida, Guwahati, and Jodhpur.
Maharatna Companies in India
Maharatna companies in India are a distinct category among Public Sector Undertakings. The term “Maharatna”, which means “a great jewel” in Hindi, highlights the importance of these companies in the national economy and their impact globally. To have the Maharatna status, companies must meet specific criteria set by the Indian government, including already holding Navratna status, being listed on India’s stock exchange with a minimum prescribed public shareholding, and maintaining strong financial performance.
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