Under the control of the Indian Ministry of Petroleum and Natural Gas, Indian Oil Corporation Limited (IOCL or IOC), doing business as IndianOil, is a worldwide oil and gas firm. The Ministry of Petroleum and Natural Gas is in charge of this public sector enterprise, which has its headquarters in New Delhi and is registered in Mumbai. As of 2022, Indian Oil is placed 94th out of the world's largest firms on the Fortune Global 500 list. In terms of output and earnings, it is the nation's biggest state-owned oil producer. By 2024–2025, it hopes to raise its consolidated refining capacity from 80.55 million to 107 million metric tons per year.