Press Conference 2012 - Iocl.comE&P –Overseas Exploration Blocks Carabobo Project-1, Venezuela...

Annual Press Conference2011-122011-12

28th May 201228th May 2012New Delhi

Structure of the Presentation

A glance at oil industry

Overview of IndianOil

Accomplishments

Financials

Open forum

5/28/2012 Annual Press Conference: 2011-12 2

Oil & Gas Snapshot

Oil prices remain volatileOil prices remain volatile

European economy shows little signs of recoveryEuropean economy shows little signs of recovery

US turns net exporter of petroleum productsUS turns net exporter of petroleum products

Depreciating rupee – a worry for oil importersDepreciating rupee a worry for oil importers

Rajasthan crude oil production touches 175,000 bbl/ dday

5/28/2012 4Annual Press Conference 2011-12

Oil & Gas Snapshot

Domestic refining capacity up by 10 % to 213.2 MMTPADomestic refining capacity up by 10 % to 213.2 MMTPA

Domestic POL demand grows by 4.9% over 2010‐11Domestic POL demand grows by 4.9% over 2010 11

Uncertainties engulf domestic gas outputUncertainties engulf domestic gas output

India – 3rd largest Asian LNG buyer in 2011India 3 largest Asian LNG buyer in 2011

Crude oil imports @ USD 141 billion, 7.5% of GDPCrude oil imports @ USD 141 billion, 7.5% of GDP

5/28/2012 5Annual Press Conference 2011-12

Oil Dynamics

125

130

B t(D t d) NYMEX WTI D b i I di b k t

Crude oil prices, US $/ bbl

110

115

120

125 Brent(Dated) NYMEX WTI Dubai Indian basket

95

100

105

110

80

85

90

95

80

Apr‐11 May‐11 Jun‐11 Jul‐11 Aug‐11 Sep‐11 Oct‐11 Nov‐11 Dec‐11 Jan‐12 Feb‐12 Mar‐12

Indian crude basket average price moved up by $27/ bbl:

5/28/2012 6Annual Press Conference FY 2011-12

Indian crude basket average price moved up by $27/ bbl: from $ 85/ bbl in 2010‐11 to $ 112/bbl in 2011‐12

IndianOil – A Degree of Brilliance

10 group refineries

Crude, products and gas pipelines

Robust marketing network

Petrochemicals – spreading footprints

R&D – among the best

Gas marketing, infrastructure

Renewables nuclear upstreamRenewables, nuclear, upstream ventures

Fortune Global 500, 2011 position: 98 ‐ the highest ranked Indian Company

IndianOil – Quick Facts

1st Board meeting of the Maharatna Board in March 20122012

For the first time turnover surpasses 4,00,000 crorek (R 409 957 )mark (Rs. 409,957 crore)

Domestic sales exceed 70 MMT during 2011‐12Domestic sales exceed 70 MMT during 2011 12

7 more cities placed on the Euro‐IV map, taking the total to 20Robust growth plans ‐ ongoing projects worth Rs. 46,000 crore

5/28/2012 10Annual Press Conference FY 2011-12Indianoil – The Energy of India

Refineries – Challenging the Limits

Crude throughput, MMTPA

55.6

0.7

53.0

5

50

2009‐10 2010‐11 2011‐12

Highest‐ever throughput of 55.6 MMT


Over 100% capacity utilization for 5th consecutive year

Refineries – Challenging the Limits

► Highest‐ever distillate yield of 77.8%

► Increasing capacity to process opportunity

crudes

► Lowest ever energy consumption of 57 MBN in► Lowest‐ever energy consumption of 57 MBN in

2011‐12

► Commissioned DHDT at Bongaigaon for BS‐IV

Diesel quality 5/28/2012 Annual Press Conference: 2011-12 12

Pipelines – par Excellence

Pipeline throughput, MMTPA

23.5 26.128.0

41.5 42.5 47.5

2009‐10 2010‐11 2011‐12

Products Crude Oil


Highest‐ever throughput of 75.5 MMT

Pipelines – par Excellence

► 118% capacity utilization for crude oil pipelines

► Injection of heavy Rajasthan crude oil

► Continuous improvement in energy efficiency► Continuous improvement in energy efficiency

► Capacity augmentation:

• Chennai‐Trichi‐Madurai pipeline: from 1.8 to 2.3

MMTPAMMTPA

• Chennai‐Bengaluru pipeline: from 1.45 to 2.45

MMTPA5/28/2012 Annual Press Conference: 2011-12 14

Marketing

% Market Share

Domestic POL Sales

80.0

LPG48 6%

49.7%49.6%

Figs in MMT

6.16.6

7.060.0

70.0

LPG

Naphtha

MS

70.166.7

63.6

48.6%

6.0 5.8 5.45.8 6.3 6.7

40 0

50.0

ATF

SKO

HSD

30.1 31.6 34.130.0

40.0 HSD

LDO

FO / LSHS

6.2 6.0 5.010.0

20.0 Lube Grease

Bitumen

Others

5/28/2012 15Annual Press Conference FY 2011-12Highest‐ever petroleum products sales in 2011‐12

0.0

2009‐10 2010‐11 2011‐12

Marketing – Reaching out, Touching lives

LPG Bottling

Marketing Touch Points(% of industry)LPG Bottling

Plants, 89 (48.9%)Retail

Outlets, 20575 Consumer

Pumps, 6218 (86%)

( y)

(45.6%), includes 4225 KSKs

Terminals/Depots

(86%)

LPG Distributorships 5

SKO/LDO Dealerships 3954

Terminals/Depots,139 (41.6%)

Distributorships, 5934 (51.6%) includes 522

RGGLVs

Aviation Fuel Stations, 96 (50.5%)

Dealerships, 3954 (59.9%)


Over 37000 Touch Points, 52% of the industry infrastructure

Marketing – Reaching out, Touching lives

► Market leader with 49.7% market share

► Retail Outlets network surpasses 20,000 mark

► Over 1000 ROs automated during the year

► Domestic LPG customer base expanded by 50

lakh, touches 6.68 crore

► Aadhar based LPG pilot launched in Mysore► Aadhar‐based LPG pilot launched in Mysore


R & D ‐ Innovating for a Cutting Edge

► Commercialization of technologies

• ‘DHDT and light naphtha isomerisation’ unit commissioned at Bongaigaon

► Widening horizons

• New petrochemicals and polymers labsNew petrochemicals and polymers labs

• MOU with Department of Bio‐Technology (DBT) to set up “Advanced Bio energy Research Centre”set up “Advanced Bio‐energy Research Centre”

• Commissioned fluidized bed gasification pilot


R & D ‐ Innovating for a Cutting Edge

► Lubricants154 d t f l ti d l d• 154 product formulations developed

• Two indigenously developed synthetic aviation lubricants granted provisional clearance bylubricants granted provisional clearance by CEMILAC

Patents► Patents• Six patents granted during the year

Details of active patents:India USA Others Total Lubes Refineries Others Total


119 46 50 215 42 101 72 215

PROPEL – Creating Footsteps

Domestic petrochemicals sales, KT 1550

658939

151239217652

124 124 101

528 447 542

2009‐10 2010‐11 2011‐12

LAB PX / PTA GLYCOLS POLYMERS


2nd largest petrochemicals capacity share in the country

PROPEL – Creating Footsteps

Products profile IndianOil’sRelative domestic market share (%)

28%25%

• Polyethylene• Poly‐propylene

Polyolefins

Relative domestic market share (%)

31%

18%

14%

19%

• PTA• LAB

Aromatics14%

5%

LAB PTA Polymers Glycols

• LAB

•MEGLAB PTA Polymers Glycols

2010‐11 2011‐12

• DEG• TEG

Glycols


Gas – Fuel of the 21st Century

R‐LNG sales, MMT

91 .31 2.93

1.9 2

2009‐10 2010‐11 2011‐12

Hi h R LNG l i 2011 12


Highest‐ever R‐LNG sales in 2011‐12

Gas – Fuel of the 21st Century

► Increasing share in country’s infrastructure

• Pre‐project activities in advanced stage for Ennore

LNG TerminalLNG Terminal

• MoU signed with Dhamra Port Company Ltd.

• SPVs formed for execution of gas pipeline projects

U i k t► Upcoming markets

• Memorandum of Co‐operation with DMICDCp


E&P – Overseas Exploration Blocks

Carabobo Project-1, VenezuelaArea 86, Libya

Area 95/96, Libya Block 102/4, Libya

Farsi, Iran

Block 82, Yemen

Block 83 YemenBlock 83, Yemen

OML 142, Nigeria

Block Shakthi, Gabon


E&P – Domestic Exploration Blocks

GK‐OSN‐2009/1

GK‐OSN‐2009/2

MB‐OSN‐2004/1AA‐ONN‐2001/2

AAP‐ON‐94/1

AA ONN 2001/2

NK‐CBM‐2001/1

BK‐CBM‐2001/1

MN‐OSN‐2000/2

WB‐OSN‐2000/1CB‐ONN‐2010/6MB‐OSN‐2004/2

CB‐ONN‐2005/2


KG‐DWN‐2005/1

/CB ONN 2005/2

CB‐ONN‐2005/7

Clean Energy ‐ The Power of Choice

► Grid‐connected 5 MW PV solar power plant

commissioned in Rajasthan

► Wind capacity enhanced to 37.8 MW from 21

MWMW

► Construction started at Rajasthan Atomic

Power Project – 7 & 8 : A JV project of IndianOil

and NPCIL


Capex Plans ‐ Achievement of a Goal is the Start of a New Roadof a New Road

Five Year Plans 29261Actual plan Capex expenditure – XI Plan

(2007‐2012): Rs. 48,655 crore

56,200(Proposed)

XII Plan 13063

(2007 2012): Rs. 48,655 crore

XI Pl

3906

1679X Plan

XI Plan452 294

Refineries Petrochemicals Pipelines Marketing R&D Others+E&P

45,43017,930

Actual plan Capex during 2011‐12: Rs. 11073.5 crore

O i j t R 46 000


On‐going projects: Rs. 46,000 crore

Global Agenda – Leveraging the Core competenciescompetencies

• Aviation, terminaling d il

IndianOilMauritius

and retail

• Leader in aviation

Mauritius Ltd. (IOML)

(100% Stake

• Storage, terminaling and retail business

Lanka IOC Ltd. and retail business

• 157 retail outlets(75.1% Stake)

•Marketing of LubesIOC Middle East FZE

( k )(100% Stake)


CSR – for Inclusive Growth

► CSR Thrust Areas• Drinking water

• Health & medical care

• Education/scholarships

• Sports promotionSpo ts p o ot o

• National heritage

• National causes & natural• National causes & natural

calamities

• LPG schemes


CSR – for Inclusive Growth

► New CSR initiatives

• IndianOil Sachal Swasthya Seva in AP & UP

• IndianOil TATA Care lkCentre, Kolkata

• Development of tourist

friendly facilities at

Konark and KhajurahoKonark and Khajuraho


Data in finance slides is only indicative


y

Turnover

T/O, Rs. crore4,09,957

3,28,652

6102

12006

2830

4059

294763

357861

6102

36031

294763

2010‐11 2011‐12

24957


Crude sales POL Petrochemicals Gas

Profit…

Attributes, Rs. crore 2011‐12 2010‐11 VarianceEBITDA (Before Exceptional item) 21921 16316 5605

Less: Exceptional item 7708 0 (7708)

Interest Expenditure 5591* 2673 (2918)

Depreciation 4868 4547 (321)

Profit/ (Loss) Before Tax 3754 9096 (5342)

Tax : Current Tax 894 1356 462

Mat credit 0 (1286) (1286)

Deferred Tax (1095) 1581 2676

Profit/ (Loss) After Tax 3955 7445 (3490)

* Includes approximate interest on delayed on receipt of cash compensation of Rs. 2800 crore, calculated

Year Q 1 Q2 Q3 Q4 Total

2011 12 (3718) (7485) 2488 12670 3955

Quarter‐wise Profit & Loss, Rs. crorebased on average SBI CC rate


2011‐12 (3718) (7485) 2488 12670 3955

2010‐11 5293 (3388) 1635 3905 7445

Under‐recoveries

Gross Under‐recoveries (Rs. crore) 2010‐11 2011‐12

SKO (PDS) 12648 17913HSD 18673 42866

LPG (Domestic) 10765 14690

/MS 1026 N/A

Total Under‐recovery 43112 75469

MS (Post de‐regulation) 1042 2236

Product‐wise under‐recoveries as on 16 5 2012 Rupees

Grand Total 44154 77705

Product wise under recoveries as on 16.5.2012 Rupees

SKO (PDS)/ litre 31.41

HSD/ litre 13.64


LPG (Domestic) per cylinder 479.00

Under‐recoveries

2236Under‐recoveries 2011‐12 Rs. crore

Rs, crore

29961Gross Under Realization on SKO (PDS), HSD and LPG (Dom)

75469

75469

45486

MS Under

Add under‐realization on MS, post de‐regulation

2236

Total 77705

2258

MS Under Realization

Total 77705

LESS

Discount from Upstream Companies

29961

Gross Under Recovery

Up Stream Discount

Budget Support

Unmet Under‐Recovery

Companies

Govt. Budgetary Support 45486

Unmet Under Recovery /


Unmet Under‐ Recovery / Realization

2258

Borrowings…

75,4472

80000 tioRs. crore

52 734

,

1.6

1.8

60000

70000

80000

D/E

Rat

44,566

52,734

1.271.2

1.4

40000

50000

60000

0.880.95

0.8

1

20000

30000

1,526 2,6705,591

0.4

0.6

0

10000

31 3 2010 31 3 2011 31 3 2012


31.3.2010 31.3.2011 31.3.2012

Interest Cost Borrowings Debt Equity Ratio

Contribution to Exchequer

Rs. crore77620 78885

6257680

77620 7888513

9

3796

4902

7

1 658

64

3126

541

396

2986 States

Central


2009-10 2010-11 2011-12

Press Conference 2012 - Iocl.comE&P –Overseas Exploration Blocks Carabobo Project-1, Venezuela...

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