Mumbai: Indian Oil Corporation Limited (IOCL) has secured a spot on the global 500 list of the world’s most valuable and strongest brands across sectors for the year 2020. The list was released at the World Economic Forum in Davos by Brand Finance, the world's leading independent brand valuation consultancy. There are only 11 Indian brands in this coveted list and Indian Oil is the only Indian brand in the oil and gas sector to feature there.
In the overall Global 500 list, Indian Oil has been ranked at the 415th position. In the oil and gas sector globally, Indian Oil jumped 11 places to be ranked 23rd in the world’s top 50 most valuable oil and gas brands. The Brand Finance survey of brands is conducted across 29 countries, covering 10 key sectors. Brand strength is measured on the efficacy of a brand’s performance on intangible measures, relative to its competitors.
The brand strength index is made up of three factors: Marketing Investment, Stakeholder Equity, and the impact of those on business performance. On the basis of these factors, each brand is assigned a brand strength index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding ranking.
Indian Oil Corporation Limited (IOCL)
Indian Oil Corporation Limited (IOCL) is a Maharatna PSU under the administrative control of the Ministry of Petroleum & Natural Gas. With a 33,000-plus workforce, extensive refining, distribution and marketing infrastructure and advanced research and development facilities, Indian Oil has been providing energy access to millions of people across the length and breadth of the country through its ever-expanding network of customer touchpoints, currently numbering over 50,000. With a turnover of Rs 6,05,924 crore and a net profit of Rs 16,894 crore for fiscal 2018-19, Indian Oil is one the largest and most trusted corporate in the country, touching the lives of over a billion Indians.
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