Lanka IOC
Lanka IOC PLC is Sri Lanka's largest listed downstream petroleum company and a subsidiary of Indian Oil Corporation, distributing fuels, SERVO lubricants, marine bunker fuels, bitumen, and petrochemicals through 272+ retail stations and four port bunkering operations.
- Company typePublic
- Founded2002
- HeadquartersColombo, Sri Lanka
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Lanka IOC does
Lanka IOC PLC is Sri Lanka's leading listed downstream petroleum company and a subsidiary of Indian Oil Corporation (Fortune 500, 83rd; 49% Indian petroleum market share). The company operates across the full downstream value chain: retail fuel distribution through 272+ stations (Lanka Petrol 92/95 Octane, XtraPremium Euro 3, Lanka Auto Diesel, XtraSuper Diesel, XtraMile Diesel, XtraGreen Diesel), marine bunkering at four ports (Colombo, Trincomalee, Hambantota, Galle) supplying VLSFO/LSMGO/IFO 380 CST, bitumen supply for road construction, industrial lubricants and greases, petrochemicals (PROPEL brand in 70+ countries), and the SERVO lubricant brand. Core infrastructure includes a 50-year leased Trincomalee terminal (14 dedicated tanks plus joint management of 61 tanks, 99-tank complex with 1.1M+ kilolitres capacity) and an ASTM-certified laboratory.
Lanka IOC firmographics
Firmographics- Name
- Lanka IOC
- Legal name
- Lanka IOC PLC
- Website
- http://www.lankaioc.com
- Company type
- Public
- Founded year
- 2002
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Lanka IOC PLC is Sri Lanka's largest listed downstream petroleum company and a subsidiary of Indian Oil Corporation, distributing fuels, SERVO lubricants, marine bunker fuels, bitumen, and petrochemicals through 272+ retail stations and four port bunkering operations.
- Ownership category
- akta.pro rank
Lanka IOC industry classification
Industry- Product category
- Petroleum Distribution
- NAICS
- Petroleum Bulk Stations and Terminals (424710), Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals) (424720), Petroleum Lubricating Oil and Grease Manufacturing (324191), Petroleum and Coal Products Manufacturing (324), Fuel Dealers (457210)
- SIC
- Wholesale-Petroleum Bulk Stations & Terminals (5171), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172), Miscellaneous Products Of Petroleum & Coal (2990)
- akta.pro primary industry
- Marine Bunkering & Port Fuel Supply (EUALAIAG)
- akta.pro secondary industries
- Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery) (EUALAIAD), Lubricants, Fluids & Chemical Products Distribution (Oils, Coolants, AdBlue/DEF, Cleaners) (TLAKAOAL), Non-Fuel Retail & Ancillary Forecourt Services (Car Wash, Auto Care, ATM/Lottery, Parcel Lockers) (EUALAIAJ), Crude Oil & Refined Products Trading & Marketing (EUAGAAAD)
Keywords
Where Lanka IOC is headquartered
LocationHeadquarters
- HQ city
- Colombo
- HQ country
- Sri Lanka
- HQ region
- Asia
Offices6 records
Markets served
Lanka IOC business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D
Revenue model
- Petroleum Fuel Sales: Sale of petroleum products (petrol, diesel) through dealer network and directly to consumers. The retail network offers Lanka Petrol 92, 95 Octane, XtraPremium Euro 3, Lanka Auto Diesel, XtraMile Diesel, Lanka Super Diesel, and XtraGreen Diesel through 272+ retail outlets.
- Lubricant Sales: Sale of SERVO lubricants including passenger car motor oils, auto transmission fluids, diesel engine oils, 4-stroke engine oils, 2-stroke engine oils, brake fluids, gear oils, radiator coolants, and automotive greases through Servo Shop network.
- Marine Bunkering: Marine bunkering fuel supply at Colombo, Trincomalee, Hambantota, and Galle ports. Products include VLSFO, LSMGO, and IFO 380 CST. Lanka IOC is the largest bunker supplier in Sri Lanka.
- Bitumen Sales: Supply of bitumen grades 60/70 and 80/100 for road construction, along with VG 10 and VG 30 grades. Lanka IOC is the market leader in Sri Lanka's bitumen sector with nearly a decade of experience.
- Petrochemical Distribution: Distribution of petrochemical products including polymers, LAB, DEG/TEG, and benzene through PROPEL brand network spanning over 70 countries.
- Corporate Fuel Cards: Corporate Fuel Cards enabling fleet management for corporate bodies with transaction monitoring and direct settlement with Lanka IOC, implemented through Dialog Axiata partnership.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Standard and premium fuel grades for retail consumers |
| Unit Pricing | Pay-as-you-go | Lubricant products and Servo Shop franchise opportunity |
| Unit Pricing | Pay-as-you-go | Marine bunkering fuels with IMO compliance |
| Unit Pricing | Pay-as-you-go | Bitumen grades for road construction and industrial applications |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
Lanka IOC product offering
Product offeringCore offering
Lanka IOC PLC imports, stores, distributes, and retails petroleum products across Sri Lanka. Its core portfolio includes automotive fuels (petrol and diesel grades), the SERVO lubricant range (automotive and industrial), marine bunkering fuels at four major ports, bitumen for road construction, industrial greases, and petrochemicals under the PROPEL brand. The company sells directly to consumers through 272+ retail fuel stations and franchise outlets, and directly to industrial and maritime customers through bulk supply, bunkering, and corporate fuel card programs.
Product overview
Lanka IOC PLC is Sri Lanka's leading listed energy company and a subsidiary of Indian Oil Corporation, operating as a diversified petroleum and energy solutions provider. The company's product portfolio centers on high-performance automotive fuels including Petrol (Lanka Petrol 92, 95 Octane, XtraPremium Euro 3) and Diesel products (Lanka Auto Diesel, Lanka Super Diesel, Xtra Mile Diesel, XtraGreen Diesel). Complementing the fuel business is the SERVO lubricant brand offering comprehensive automotive and industrial lubricant solutions, including the recently launched Servo Futura NXT synthetic engine oil. The company serves industrial customers through marine bunkering (VLSFO, LSMGO, IFO 380 CST at Colombo, Trincomalee, Galle, Hambantota ports), bitumen supply for road construction, industrial greases, and petrochemical products under the PROPEL brand distributed globally to over 70 countries. Service offerings include corporate fuel card solutions partnered with Dialog Axiata, laboratory testing services at Trincomalee, and a franchise fuel shed program. With approximately 272 retail outlets and a 25% national market share, Lanka IOC delivers its products through an island-wide distribution network.
Differentiator
Problem solved
Functional benefit
Brands
- XtraMile Diesel: Premium diesel product that cleans and maintains engines, removing harmful deposits and keeping fuel injectors clear
- XtraPremium Euro 3
- XtraGreen Diesel
- SERVO
- SERVO Futura NXT
- PROPEL
Quantifiable outcome
- 25% national market contribution share in Sri Lanka
- +5 more outcomes
Companies that use Lanka IOC
Customer profileNamed customers8 records
Segments6 records
Ideal customer profiles5 records
Lanka IOC technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature6 records
Lanka IOC partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered minor, flagship and core.
- Colombo Friend-in-need Society (CFINS) / Jaipur Foot CentreminorCSR partnership for donation of custom-made prosthetic limbs to underprivileged differently-abled beneficiaries. Lanka IOC provides donations while CFINS manufactures and fits the prosthetic devices.
- David Peiris Motor CompanyminorPartnership for 'Win with Servo' promotion where Bajaj Pulsar motorcycle prizes were presented to winners. David Peiris Motor Company served as the dealership for prize delivery.
- Colombo Colts Cricket ClubflagshipStrategic partnership as official sponsor for cricket season powered by Servo Lubricants. Colts has produced cricket legends including Angelo Mathews, Chaminda Vaas, and Romesh Kaluwitharana. Partnership aims to develop Sri Lankan cricket talent and enhance Servo brand visibility through sports marketing.
- Sri Lanka CricketcoreTitle sponsor of Women's Tri-Nation ODI Series featuring Sri Lanka, India, and South Africa held at R. Premadasa Stadium, April-May 2025. Powers women's cricket development through Servo Lubricants brand association.
- Dialog AxiatacoreStrategic partnership providing Corporate Fuel Card solutions for fleet management. Dialog provides hardware and web-based interface at select Lanka IOC stations enabling cashless transactions, transaction monitoring, and direct settlement between Lanka IOC and corporate clients.
- Cargills (Ceylon) PLCminorCargills Express operates mini supermarkets at select Lanka IOC fuel stations as part of commercial venture partnerships enhancing customer convenience at retail outlets.
- DFCC BankminorATM services provided at Lanka IOC retail outlets through DFCC Bank partnership, expanding financial services accessibility at fuel stations.
- Etisalat Sri LankaminorBill payment and mobile phone shop services at Lanka IOC fuel stations providing convenience services to customers.
- Indian Oil Corporation Limited (Parent)flagshipIndian Oil Corporation (IOC) is India's largest company by turnover, ranked 83rd on Fortune 500 with 49% petroleum products market share in India. Lanka IOC operates as subsidiary combining IOC's global technical expertise with local market insights since 2003.
Scale indicators16 records
Recent moves6 records
Expansion highlights6 records
Lanka IOC competitors and assessment
Company assessmentDirect peers
- Ceylon Petroleum Corporation: Sri Lanka's state-owned petroleum company and primary domestic fuel retailer, importer, and bunker supplier. Most directly comparable competitor across retail fuels, lubricants, and bunkering in the same Sri Lankan market.
- Indian Oil Corporation: Parent company and India's largest downstream petroleum marketer (Fortune 500 rank 83). Directly comparable across fuel retail, SERVO/PROPEL lubricants, and bunkering, but at vastly larger scale and broader geographic footprint.
- World Fuel Services: Global bunker fuel supplier and aviation/marine fuel distributor. Direct peer in marine bunkering, with overlapping IMO 2020-compliant VLSFO/LSMGO offerings and the same international shipping customer base.
- Bunker Holding: Global bunker fuel trading and physical supply company operating across major shipping hubs. Direct peer in marine bunkering with similar IMO 2020 product portfolio and customer overlap with international shipowners.
Regional players
- Bharat Petroleum Corporation: Indian state-owned oil company with downstream fuels, lubricants (MAK), and bunkering operations. Comparable regional peer with similar downstream petroleum model, lubricant brand strategy, and South Asian market exposure.
- Hindustan Petroleum Corporation: Indian state-owned downstream oil company with fuel retail, lubricants, and emerging bunkering. Comparable regional peer with similar product portfolio and lubricant brand-building approach across South Asia.
- Puma Energy: Emerging-markets-focused downstream petroleum company with fuel retail, lubricants, and bunkering across Africa, Asia, and Latin America. Comparable in operating diversified downstream businesses in smaller/emerging fuel markets with similar infrastructure and brand-building requirements.
- SHV Energy: Dutch family-owned energy distribution company focused on LPG and downstream fuels in emerging markets. Comparable in operating energy distribution businesses in smaller markets with similar infrastructure, regulatory, and brand-building requirements.
Broad incumbents
- Reliance Industries: India's largest private-sector conglomerate with petroleum refining, fuel retail through the Jio-BP JV, and petrochemical operations. Comparable as a broad incumbent with overlapping downstream fuel, lubricant, and petrochemical activities across South Asia.
- TotalEnergies: Global integrated energy major with downstream fuel marketing, lubricants (Total Lubricants), and significant marine bunkering operations worldwide. Comparable as a broad incumbent with overlapping bunker fuel portfolio and global lubricant brand.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Lanka IOC social profiles
Digital presenceLanka IOC compliance and trust
Trust signalCompliance3 records
Lanka IOC financial estimates
Financial estimateRevenue estimate
Valuation estimate
Lanka IOC leadership team
Management profileNumber of profiles
Profiles15 records
Lanka IOC funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Lanka IOC M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Lanka IOC
What does Lanka IOC do?
Lanka IOC PLC imports, stores, distributes, and retails petroleum products across Sri Lanka. Its core portfolio includes automotive fuels (petrol and diesel grades), the SERVO lubricant range (automotive and industrial), marine bunkering fuels at four major ports, bitumen for road construction, industrial greases, and petrochemicals under the PROPEL brand. The company sells directly to consumers through 272+ retail fuel stations and franchise outlets, and directly to industrial and maritime customers through bulk supply, bunkering, and corporate fuel card programs.
Is Lanka IOC a public or private company?
Lanka IOC is a public company. It is classified as public and is currently operating.
When was Lanka IOC founded?
Lanka IOC was founded in 2002. It employs 101 to 250 people.
Where is Lanka IOC based?
Lanka IOC is headquartered in Colombo, Sri Lanka, in the Asia region.
How does Lanka IOC make money?
Six revenue lines are on record. Petroleum Fuel Sales are the primary driver. The others are lubricant Sales, marine Bunkering, bitumen Sales, petrochemical Distribution and corporate Fuel Cards.
Who are Lanka IOC's main competitors?
Direct peers on record are Ceylon Petroleum Corporation, Indian Oil Corporation, World Fuel Services and Bunker Holding. Regional players are Bharat Petroleum Corporation, Hindustan Petroleum Corporation, Puma Energy and SHV Energy. Broad incumbents are Reliance Industries and TotalEnergies.
Does Lanka IOC have an API?
No public API is recorded for Lanka IOC.
What industry is Lanka IOC in?
Lanka IOC's product category is Petroleum Distribution. Its primary akta.pro industry code is EUALAIAG, Marine Bunkering & Port Fuel Supply, with a secondary code of EUALAIAD, Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery). Its NAICS code is 424710 and its SIC code is 5171.