The IOCL media account has been under a shroud of debate for long. Will it… Won’t it? Recently, it was reported that the creative business of IOCL is split between Rediffusion DY&R and Leo Burnett. Now, close to the heels of that report, comes the confirmation that the media mandate too has moved to The Media Edge
This effectively means that around Rs 100 crore worth IOCL business, is now being held by Rediffusion DY&R giving it the majority stake in affairs. The corporate mandate continues under Leo Burnett, in addition to a part of the creative duties. The IOCL account in totality, as per sources, accounts for around Rs 140-150 crore.
It was in July 2003 that Leo Burnett was entrusted with the entire IOCL creative mandate, with Starcom handling the media aspect of it. Indian Oil accounts for 53% of the petroleum products market share in Indian market, 41% national refining capacity and 76% of the downstream pipeline transportation network. The products under Indian Oil include fuels and livestock, petrochemicals, liquefied petroleum gas, super kerosene oil, gasoline, high-speed diesel and aviation turbine fuel.
Indian Oil is the sole Indian presence in Fortune's prestigious listing of the world's 500 largest corporations; it ranks 226, and is the 17th largest petroleum company in the world. Interestingly, Rediffusion handles a part of HPCL business as well. Whether winning IOCL account will bring a shift in that account is not yet known.