Transcript APC

Annual Press Conference
2011-12
28th May 2012
New Delhi
Structure of the Presentation
A glance at oil industry
Overview of IndianOil
Accomplishments
Financials
Open forum
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Oil & Gas Snapshot
Oil prices remain volatile
European economy shows little signs of recovery
US turns net exporter of petroleum products
Depreciating rupee – a worry for oil importers
Rajasthan crude oil production touches 175,000 bbl/
day
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Oil & Gas Snapshot
Domestic refining capacity up by 10 % to 213.2 MMTPA
Domestic POL demand grows by 4.9% over 2010-11
Uncertainties engulf domestic gas output
India – 3rd largest Asian LNG buyer in 2011
Crude oil imports @ USD 141 billion, 7.5% of GDP
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Oil Dynamics
Crude oil prices, US $/ bbl
130
125
Brent(Dated)
NYMEX WTI
Dubai
Indian basket
120
115
110
105
100
95
90
85
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:
from $ 85/ bbl in 2010-11 to $ 112/bbl in 2011-12
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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, upstream
ventures
Fortune Global 500, 2011 position: 98 - the highest ranked Indian Company
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IndianOil – Quick Facts
1st Board meeting of the Maharatna Board in March
2012
For the first time turnover surpasses 4,00,000 crore
mark (Rs. 409,957 crore)
Domestic sales exceed 70 MMT during 2011-12
7 more cities placed on the Euro-IV map, taking the
total to 20
Robust growth plans - ongoing projects worth
Rs. 46,000 crore
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Indianoil
– The Energy of India
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Refineries – Challenging the Limits
50.7
53.0
55.6
Crude throughput, MMTPA
2009-10
2010-11
2011-12
Highest-ever throughput of 55.6 MMT
Over 100% capacity utilization for 5th consecutive year
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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
2011-12
►
Commissioned DHDT at Bongaigaon for BS-IV
Diesel quality
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Pipelines – par Excellence
Pipeline throughput, MMTPA
28.0
23.5
26.1
41.5
42.5
47.5
2009-10
2010-11
2011-12
Crude Oil
Products
Highest-ever throughput of 75.5 MMT
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Pipelines – par Excellence
►
118% capacity utilization for crude oil pipelines
►
Injection of heavy Rajasthan crude oil
►
Continuous improvement in energy efficiency
►
Capacity augmentation:
• Chennai-Trichi-Madurai pipeline: from 1.8 to 2.3
MMTPA
• Chennai-Bengaluru pipeline: from 1.45 to 2.45
MMTPA
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Marketing
Domestic POL Sales
% Market Share
Figs in MMT
48.6%
70.0
60.0
50.0
49.7%
49.6%
80.0
63.6
6.1
66.7
6.6
70.1
7.0
6.7
5.8
6.3
6.0
5.8
5.4
30.1
31.6
34.1
6.2
6.0
5.0
2009-10
2010-11
2011-12
40.0
30.0
20.0
10.0
LPG
Naphtha
MS
ATF
SKO
HSD
LDO
FO / LSHS
Lube Grease
Bitumen
Others
0.0
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Highest-ever Annual
petroleum
products
Press Conference
FYsales
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Marketing – Reaching out, Touching lives
LPG Bottling
Plants, 89 (48.9%)
Marketing Touch Points
(% of industry)
Retail Outlets,
20575 (45.6%),
includes
4225 KSKs
Consumer Pumps,
6218 (86%)
Terminals/Depots,
139 (41.6%)
SKO/LDO
Dealerships, 3954
(59.9%)
Aviation Fuel
Stations, 96
(50.5%)
LPG
Distributorships,
5934 (51.6%)
includes 522
RGGLVs
Over 37000 Touch Points, 52% of the industry infrastructure
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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
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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 labs
• MOU with Department of Bio-Technology (DBT) to
set up “Advanced Bio-energy Research Centre”
• Commissioned fluidized bed gasification pilot
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R & D - Innovating for a Cutting Edge
►
Lubricants
• 154 product formulations developed
• Two indigenously developed synthetic aviation
lubricants granted provisional clearance by
CEMILAC
►
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
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PROPEL – Creating Footsteps
Domestic petrochemicals sales, KT
939
652
217
151
1550
658
239
528
447
542
124
124
101
2009-10
2010-11
2011-12
LAB
PX / PTA
GLYCOLS
POLYMERS
2nd largest petrochemicals capacity share in the country
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PROPEL – Creating Footsteps
Products profile
Polyolefins
IndianOil’s
Relative domestic market share (%)
• Polyethylene
• Poly-propylene
28%
25%
19%
Aromatics
• PTA
• LAB
31%
14%
18%
14%
5%
Glycols
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• MEG
• DEG
• TEG
LAB
PTA
2010-11
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Polymers
Glycols
2011-12
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Gas – Fuel of the 21st Century
2009-10
2010-11
2.93
2.31
1.91
R-LNG sales, MMT
2011-12
Highest-ever R-LNG sales in 2011-12
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Gas – Fuel of the 21st Century
►
Increasing share in country’s infrastructure
• Pre-project activities in advanced stage for Ennore
LNG Terminal
• MoU signed with Dhamra Port Company Ltd.
• SPVs formed for execution of gas pipeline projects
►
Upcoming markets
• Memorandum of Co-operation with DMICDC
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E&P – Overseas Exploration Blocks
Carabobo Project-1, Venezuela
Area 86, Libya
Area 95/96, Libya
Block 102/4, Libya
Farsi, Iran
Block 82, Yemen
Block 83, Yemen
OML 142, Nigeria
Block Shakthi, Gabon
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E&P – Domestic Exploration Blocks
GK-OSN-2009/1
GK-OSN-2009/2
AAP-ON-94/1
MB-OSN-2004/1
AA-ONN-2001/2
NK-CBM-2001/1
BK-CBM-2001/1
MB-OSN-2004/2
CB-ONN-2010/6
CB-ONN-2005/2
CB-ONN-2005/7
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WB-OSN-2000/1
MN-OSN-2000/2
KG-DWN-2005/1
25
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
MW
►
Construction started at Rajasthan Atomic
Power Project – 7 & 8 : A JV project of IndianOil
and NPCIL
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Capex Plans
- Achievement of a Goal is the Start
of a New Road
Five Year Plans
XII Plan
29261
56,200
(Proposed)
Actual plan Capex expenditure – XI Plan
(2007-2012): Rs. 48,655 crore
13063
3906
X Plan
1679
XI Plan
Refineries Petrochemicals Pipelines
17,930
452
294
Marketing
R&D
Others+E&P
45,430
Actual plan Capex during 2011-12: Rs. 11073.5 crore
On-going projects: Rs. 46,000 crore
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Global Agenda – Leveraging the Core
competencies
IndianOil
Mauritius
Ltd. (IOML)
(100% Stake
Lanka IOC
Ltd.
(75.1% Stake)
IOC Middle
East FZE
• Aviation, terminaling
and retail
• Leader in aviation
• Storage, terminaling
and retail business
• 157 retail outlets
• Marketing of Lubes
(100% Stake)
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CSR – for Inclusive Growth
►
CSR Thrust Areas
• Drinking water
• Health & medical care
• Education/scholarships
• Sports promotion
• National heritage
• National causes & natural
calamities
• LPG schemes
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CSR – for Inclusive Growth
►
New CSR initiatives
• IndianOil Sachal Swasthya
Seva in AP & UP
• IndianOil TATA Care
Centre, Kolkata
• Development of tourist
friendly facilities at
Konark and Khajuraho
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Data in finance slides is only indicative
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Turnover
4,09,957
T/O, Rs. crore
4059
3,28,652
6102
12006
2830
357861
294763
36031
24957
2010-11
2011-12
Crude sales
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POL
Petrochemicals
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Gas
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Profit…
Attributes, Rs. crore
2011-12
2010-11
Variance
EBITDA (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)
894
1356
462
0
(1286)
(1286)
(1095)
1581
2676
3955
7445
(3490)
Tax : Current Tax
Mat credit
Deferred Tax
Profit/ (Loss) After Tax
* Includes approximate interest on delayed on receipt of cash compensation of Rs. 2800 crore, calculated
based on average SBI CC rate
Quarter-wise Profit & Loss, Rs. crore
Year
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Q1
Q2
Q3
Q4
Total
2011-12
(3718)
(7485)
2488
12670
3955
2010-11
5293
(3388)
1635
3905
7445
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Under-recoveries
Gross Under-recoveries (Rs. crore)
2010-11
2011-12
SKO (PDS)
HSD
LPG (Domestic)
12648
18673
10765
17913
42866
14690
MS
1026
N/A
Total Under-recovery
43112
75469
MS (Post de-regulation)
1042
2236
Grand Total
44154
77705
Product-wise under-recoveries as on 16.5.2012
Rupees
SKO (PDS)/ litre
HSD/ litre
31.41
13.64
LPG (Domestic) per cylinder
479.00
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Under-recoveries
Rs, crore
2236
Under-recoveries 2011-12
Gross Under Realization on
SKO (PDS), HSD and LPG
(Dom)
Rs. crore
29961
75469
75469
Add under-realization on
MS, post de-regulation
2236
Total
77705
45486
MS Under
Realization
LESS
2258
Discount from Upstream
Companies
29961
Govt. Budgetary Support
45486
Unmet Under- Recovery /
Realization
2258
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Gross Under Up Stream
Recovery
Discount
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Budget
Support
Unmet
UnderRecovery
35
80000
2
Rs. crore
75,447
1.8
70000
1.6
60000
D/E Ratio
Borrowings…
52,734
1.4
50000
44,566
1.27
40000
30000
0.88
0.95
1
0.8
20000
10000
1,526
5,591
2,670
0
0.6
0.4
31.3.2010
Interest Cost
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1.2
31.3.2011
Borrowings
31.3.2012
Debt Equity Ratio
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Contribution to Exchequer
2009-10
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39658
26541
2010-11
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78885
49027
31139
57680
37962
77620
29864
Rs. crore
States
Central
2011-12
37
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Major JV’s
Turnover and Profit
Sl.
Name of Major JVs
No.
1
IOT Infrastructure & Energy
Services Ltd
Turnover
Profit after Tax
Ownership
(Rs. crore)
(Rs. crore)
Interest of IOC
(%) as on
31.03.2012 2011-12 2010-11 2011-12 2010-11
47.97
1587.4
1187.5
111.6
110.6
2 Lubrizol India Pvt. Ltd.
50.00
884.4
785.1
133.8
124.8
3 IndianOil Petronas Pvt. Ltd
50.00
756.7
867.4
72.2
67.0
4 Petronet LNG Limited
12.50
22696
13197
1058
620
5 Green Gas Limited
25.00
116.1
96.4
23.2
16.1
6 IndianOil Skytanking Ltd.
33.33
339.0
269.0
10.7
7.3
7 Delhi Aviation Fuel Facility Pvt Ltd
37.00
122.8
96.1
32.4
34.7
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Domestic
JV’sConference:
– 16, Overseas
Annual Press
2011-12 - 1
39