Indian Oil Corporation Sample Clauses

Indian Oil Corporation. Limited (IOC) During the year 2013-14 IOC - R&D made significant progress in the demonstration and commercialization of some of the technologies developed in-house. The IndMax technology developed in-house is being actively considered by refineries of other Oil Companies besides the 4.17 million tonnes per annum IndMax unit at its own upcoming Paradip Refinery. IOC’s R&D Centre developed a process “OCTAMAX” for up-gradation of C4 hydrocarbons from refinery LPG stream to high-octane gasoline blending stock. IOC R&D’s Bio-Energy Research Centre signed an agreement with M/s Lanzatech, USA to develop a micro-algae technology that entails development of CO2 to acetate to lipid pathway. IOC’s continuous research efforts in Lubricant technology lead to development of new formulations of low-viscosity and energy-efficient lubricants which in turn helped in expanding its OEM approval. IOC developed 130 new lubricant formulations during the year and obtained 48 product approvals from Original Equipment Manufacturers (OEM)/Customers /Defense. During the year 54 patent applications were filed (25 Indian and 29 Foreign) and 11 patents (1 Indian and 10 foreign) granted. With this, IOC has 292 active patents in its name as on 1st April 2014 including65 registered in US.
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