IBP (merged subsidiary of Indian Oil)

IBP (Merged Subsidiary Of Indian Oil)

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IBP (merged subsidiary of Indian Oil)

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IBP was originally founded by Abdul Karim Abdul Shakur Jamal under the name of Jamal's oil Company limited and was renamed as Indo-Burma Petroleum Company limited in 1909. On 2 May 2007, IBP was merged with Indian Oil

History

IBP Co.Limited got merged with its parent company 'Indian Oil Corporation Limited' on 02-05-2007 under the Ministry of Petroleum & Natural Gas, Government of India. The merger ends the history of 98 year old 'IBP Co Limited', the oldest oil company in India.

IBP Co. Limited was born in the then undivided British India as “Indo-Burma Petroleum Company Limited” a joint stock private company on 08-02-1909 at Burma, presently Myanmar.

The developments that followed second world war forced the company change its head quarters to Kolkata permitting the British Government to bombard and destroy its only refinery at Rangoon. Thereafter the company joined hands with the then Indian Oil Company (Later formed as Indian Oil Corporation Limited after merger with Indian Refineries Company Limited) and carried out business in petroleum products at Mumbai and Kolkata.

Though it was initially taken over by IOC in 1970, it got separated and formed as a public sector company in 1974 under the Ministry of Petroleum and Natural Gas, Government of India. By this time all the foreign private oil businesses were nationalized and made public sector companies. The Indo Burma Petroleum Company Limited changed its name to IBP Co. Limited in...
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