IBP, one of the most important petrochemical company inIndia and a part of theIndian Oil Corporation family, has earned a name in the production of petroleum, industrial explosives, and Cryogenic Engineering. Moreover, IBP offers a variety of products for the consumers and have set up subsidiaries and joint venture companies all across the country. In the year the IBP touched its highest ever turnover with sales reaching Rs.15,818 crore with the growth being 16%.
In the year 1909, IBP was incorporated as the Indo-Burma petroleum company limited in Rangoon and in 1942 the corporate office of the petrochemical company was shifted toIndia. It is nearly a century that IBP have been serving the core sector of the economy with its diversified product range. In the recent year of 2007, IBP and the mother companyIndian Oil Corporation Limited got merged, which no doubt have increased the prestige of the IBP in the economy. This merger will enhance the infrastructure, product support, and technology strength of IBP and strengthen their retail marketing further. Apart from petroleum, IBP also produces industrial explosives and this is in fact the sole central public sector company inIndia dealing with such products.
Activities of IBP:
The company deals with petrochemical products like petroleum, industrial explosives, and cryogenics. In the coming years the company wishes to increase their market participation regarding the marketing of these products. The IBP is engaged in the manufacturing and marketing of bulk slurry emulsion explosives like Cartridged and Site Mixed, Cast Boosters, and Detonating Fuse. Other than the petroleum and chemical business groups there is the engineering business group of IBP, which is mainly concerned with the manufacturing and marketing of small cryogenic containers for transporting and storing liquid Nitrogen, Oxygen and Argon with the help of high vacuum technology.
Performances of IBP :
This petrochemical company over the years have been accredited with the prestigious ISO-9002 certification for their performances. Some of the main highlights of the operations of IBP are like-
- the only company inIndia to export cartridge explosive technology
- the third largest producer of small aluminum cryo-containers in the world
- the largest producer of small aluminum cryo-container inIndia
- the company have a joint venture with other leading petroleum companies to develop petroleum pipeline network
- the direct sale of petrochemical products like Naphtha, Furnace Oil, and Low Sulphur Heavy Stock is increased.
Mr. Sarthak Behuria is the Chairman of the theIndian Oil Corporation, IBP.
3079/ 3, Sadiq Nagar,
J B Tito Marg,
New Delhi - 110 049
Last Updated on 13 December 2011