Indian Oil, is an Indian government-owned oil and gas corporation founded in 30 June 1959, 62 years ago. It is under the ownership of Ministry of Petroleum and Natural Gas, Government of India headquartered in New Delhi. It is the largest commercial oil company in the country, with a net profit of ₹43,242 crore (US$6.1 billion) for the financial year 2020-21. It is ranked 2nd in Fortune India 500 list for year 2020. And 151st in Fortune Global 500 list of world's largest companies in the year 2020. As of 31 March 2020 Indian Oil's employee strength is 33,498, out of which 17,704 are executives and 15,794 non-executives. It is India's largest downstream oil company, a turnover of ₹4, 87,152 crore and a net profit of 19,313 crore after taxes for the financial year 2019-20.