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IOC’s R&D centre patent filing breaches 1,000-mark

Indian Oil Corporation’s (IOC) research and development (R&D) centre at Faridabad has become the first public sector oil and gas company to cross the milestone of filing 1,000 patents.

The R&D Centre’s IP (Intellectual Property) portfolio comprises 794 active patents, of which 542 patents were granted abroad and 252 in India. The centre has also registered a healthy commercialisation rate for its patents, higher than the global average.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

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