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Fact Check: Did Adani Group Buy Indian Oil Corporation Under Ruling BJP Govt.?

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Summary

The claim that Indian Oil Corporation has been sold to Adani Group is false. Indian Oil – Adani Gas Private Limited (IOAGPL), whose fuel station is shown in the viral image, is a joint venture company of Indian Oil Corporation Limited (IOCL).

 

Recently, an image showing a fuel station with 'Indian Oil-Adani Gas' written on it has gone viral on social media platforms claiming that the Bharatiya Janata Party-led central government has sold the public sector oil and gas company Indian Oil Corporation Ltd to Adani Group of Industries.

A Facebook user shared the image with a caption that can be roughly translated to, "Blind followers, see Indian Oil has been sold out."

This post received over 200 reshares. 

Another Facebook user shared the image comparing it with some other fuel station. The caption reads, "Congress - Indian Oil BJP - Indian Oil Adani Gas."

National convener of Congress party's social media department Saral Patel shared the image on Twitter with a Hindi caption that can be translated to, 'This is us. This is our country. And the country is being sold every day'.

The truth behind the claim 

In our investigation, we found this claim to be false. Indian Oil – Adani Gas Private Limited (IOAGPL)’ is a joint venture company of Indian Oil Corporation Limited (IOCL). This organization was incorporated on 04 October 2013, during the time of the Congress Government. IOCL is part of multiple joint ventures with many other private organizations including Adani Gas limited.

We checked the IOCL website and found that IOCL is working on a Joint Venture with Adani Gas Limited. IOCL is part of multiple Joint ventures with several other private companies like Lubrizol India Private Limited and ICICI Bank Limited etc.

On 04 October 2013, during the time of the Congress Government, ‘Indian Oil-Adani Gas Private Limited (IOAGPL)’ was incorporated.

The About Us section of IOAGPL states that it is a 'joint venture company of Indian Oil Corporation Limited (IOC) – a Maharatna Company of Government of India and Adani Gas Ltd. (AGL), a leading city gas distribution company and part of Adani Group'.

The company says its mission is to develop natural gas distribution networks in various Indian cities to provide natural gas to customers in industrial, commercial, domestic, and transport sectors.

In conclusion, the claim that Indian Oil Corporation has been sold to Adani Group is false. Indian Oil – Adani Gas Private Limited (IOAGPL), whose fuel station was shown in the image, is a joint venture company of Indian Oil Corporation Limited (IOCL).

Note: You can reach out to us at support[at]facthunt.co.in if you find any issue with our articles.


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