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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
5/28/2012 Annual Press Conference: 2011-12 3
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
5/28/2012 Annual Press Conference: 2011-12 7
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
5/28/2012 Annual Press Conference: 2011-12 9
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
5/28/2012 11Annual Press Conference FY 2011-12
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
5/28/2012 13Annual Press Conference FY 2011-12
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%)
5/28/2012 Annual Press Conference: 2011-12 16
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
5/28/2012 Annual Press Conference: 2011-12 17
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
5/28/2012 Annual Press Conference: 2011-12 18
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
5/28/2012 Annual Press Conference: 2011-12 19
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
5/28/2012 20Annual Press Conference FY 2011-12
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
5/28/2012 Annual Press Conference: 2011-12 21
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
5/28/2012 22Annual Press Conference FY 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
5/28/2012 Annual Press Conference: 2011-12 23
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
5/28/2012 Annual Press Conference: 2011-12 24
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
5/28/2012 Annual Press Conference: 2011-12 25
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
5/28/2012 Annual Press Conference: 2011-12 26
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
5/28/2012 Annual Press Conference: 2011-12 27
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)
5/28/2012 28Annual Press Conference FY 2011-12
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
5/28/2012 Annual Press Conference: 2011-12 29
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
5/28/2012 Annual Press Conference: 2011-12 30
Data in finance slides is only indicative
5/28/2012 Annual Press Conference: 2011-12 31
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
5/28/2012 Annual Press Conference: 2011-12 32
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
5/28/2012 Annual Press Conference: 2011-12 33
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
5/28/2012 Annual Press Conference: 2011-12 34
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 /
5/28/2012 Annual Press Conference: 2011-12 35
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
5/28/2012 Annual Press Conference: 2011-12 36
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
5/28/2012 Annual Press Conference: 2011-12 37
2009-10 2010-11 2011-12
5/28/2012 Annual Press Conference: 2011-12 38