Lanka IOC

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.

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

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

• Petroleum product distribution
• Marine bunkering services
• Automotive and industrial lubricants
• Fuel retail network
• Bitumen and petrochemical supply

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. 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.
2. 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.
3. 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.
4. 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.
5. Petrochemical Distribution: Distribution of petrochemical products including polymers, LAB, DEG/TEG, and benzene through PROPEL brand network spanning over 70 countries.
6. 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

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core 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

Named customers8 records

Segments6 records

Ideal customer profiles5 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature6 records

Partnerships

Nine partnerships are on record, tiered minor, flagship and core.

• Colombo Friend-in-need Society (CFINS) / Jaipur Foot CentreminorOthers · 26 March 2026CSR 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 CompanyminorStrategic or Co-development Partner · 4 February 2026Partnership 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 or Co-development Partner · 13 June 2025Strategic 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 CricketcoreGTM or Marketing Partner · 2 May 2025Title 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 or Co-development Partner · 1 January 2025Strategic 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) PLCminorChannel Partner/ Reseller/ Distributor · 1 June 2024Cargills Express operates mini supermarkets at select Lanka IOC fuel stations as part of commercial venture partnerships enhancing customer convenience at retail outlets.
• DFCC BankminorChannel Partner/ Reseller/ Distributor · 1 June 2024ATM services provided at Lanka IOC retail outlets through DFCC Bank partnership, expanding financial services accessibility at fuel stations.
• Etisalat Sri LankaminorChannel Partner/ Reseller/ Distributor · 1 June 2024Bill payment and mobile phone shop services at Lanka IOC fuel stations providing convenience services to customers.
• Indian Oil Corporation Limited (Parent)flagshipOthersIndian 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

Direct 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

• Xx.com/LankaIOC
• Facebookfacebook.com/lankaioc
• Instagraminstagram.com/lankaioc
• LinkedInlinkedin.com/company/lanka-ioc-plc

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lanka IOC