Indian Oil Corporation (IOCL) PESTLE Analysis | PESTEL Analysis of Indian Oil Corporation (IOCL) | MBA Skool 22/08/21,

22/08/21, 8:59 PM

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Indian Oil Corporation (IOCL) PESTLE

Analysis
Published by MBA Skool Team, Last Updated: March 29, 2021

PESTLE Analysis of Indian Oil Corporati

analyses the brand on its business tactic
Corporation (IOCL) PESTLE Analysis ex
various external factors like political, eco
social, technological (PEST) which impac
business along with legal & environment
The PESTLE Analysis highlights the diffe
extrinsic scenarios which impact the bus
brand.

PESTLE analysis is a framework which i

for companies such as Indian Oil Corpor
(IOCL), as it helps to understand market dynamics & improve its business continuously. PE
analysis is also referred to as PESTEL analysis.
Courses
Let us start the Indian Oil Corporation (IOCL) PESTLE Analysis:

Political Factors:
The political factors in the Indian Oil Corporation (IOCL) PESTLE Analysis can be explained

Indian Oil Corporation (IOCL) is an Oil and Gas company headquartered in new Delhi. It is
corporation with government holding 52% shares. These factors impact the profitability of c
which are not in control of the business. A level of taxes would reduce the revenue of the co
Indian government puts heavy taxes on the petrol and diesel which make the price of these

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Indian Oil Corporation (IOCL) PESTLE Analysis | PESTEL Analysis of Indian Oil Corporation (IOCL) | MBA Skool 22/08/21, 8:59 PM

thus reduces the demand of these products by the people. The government of any countrie
important role in its petroleum industry. The government have now decreased the duties it h
the automobiles to increase its demand. This may be very beneficial for the petroleum indu
future it may lead to increase in demand of petrol and diesel.

Image: company website

Economic Factors:
Below are the economic factors in the PESTLE Analysis of Indian Oil Corporation (IOCL):

Due to covid-19 petroleum industry have hit very hardly.

As the demand of the automobile is very less and also people prefer to stay at their home o
this pandemic. It has really impacted the revenue of the IOCL and now company is into loss
pandemic. Also, government of India is continuously increasing duties on the oil to increase
revenue, to address the problem of rising fiscal deficit. High inflation in the country have als
impacted the oil industry. The company operates in 11 of India’s 23 refineries, so it is major
the oil industry and its revenues has really affected due to this pandemic.

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Indian Oil Corporation (IOCL) PESTLE Analysis | PESTEL Analysis of Indian Oil Corporation (IOCL) | MBA Skool 22/08/21, 8:59 PM

Social Factors:
Following are the social factors impacting Indian Oil Corporation (IOCL) PESTLE Analysis:

We all know the India is second most populated country in the world. The oil demand of the
very high and we have to import great amount of oil very year, which increases the import b
country significantly. Due to covid the demand of the oil has decreased as people now prefe
home and various other reasons. But in future when the things will become normal the oil in
got huge potential which can be very useful for the Indian Oil corporation. As the lifestyle of
of India is getting impacted by the western culture, more and more people now have their p
cars and bike. People prefer less to travel in public transport, this have really increased the
the petrol and diesel.

Technological Factors:
The technological factors in the PESTLE Analysis of Indian Oil Corporation (IOCL) are men
below:

These factors include innovation in technology and in the ways of producing goods which a
operations of the industry. These factors cannot be ignored by the company as these plays
important role in ensuring long term profitability of any company. As Indian Oil Corporation i
company, the company spends huge amount of money in research and development. This
is very important for the entire country as this may result in reducing our country dependenc
imports.

The company has ventured into alternative energy and has cross country pipeline network
transporting the crude oil to the refineries.

Legal Factors:
Following are the legal factors in the Indian Oil Corporation (IOCL) PESTLE Analysis:

These factors include various internal and external laws which company must follow. Legal
includes analyzing of laws of the country and then making strategies according to it. With e
norms becoming more stringent in India, company need to keep check on its carbon emissi

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Indian Oil Corporation (IOCL) PESTLE Analysis | PESTEL Analysis of Indian Oil Corporation (IOCL) | MBA Skool 22/08/21, 8:59 PM

industry is often criticized for polluting the environment. The company have also taken vario
ensure the safety of its employees keeping in mind the health and safety laws of the countr
IOCL have started supplying BS-6 fuel as instructed by the government of the India.

Environmental Factors:
In the Indian Oil Corporation (IOCL) PESTLE Analysis, the environmental elements affectin
business are as below:

Environmental factors play crucial role in building brand image of any company. These facto
most important in the industries like oil industry.

The government keep close check on the gaseous emissions and solid waste of oil compan
Indian Oil Corporation, many engineers are working together continuously to develop and u
productive methods for improvement of environmental effects. Also, the company have vari
cleanups program that improve refinery process of the company and also taken initiatives to
spills in the sea to save marine life.

To conclude, the above Indian Oil Corporation (IOCL) PESTLE Analysis highlights the vario
elements which impact its business performance. This understanding helps to evaluate the
external business factors for any brand.

This article has been researched & authored by the Content & Research Team
& published by the MBA Skool Team. The content on MBA Skool has been created for edu
academic purpose only.

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