Fact Check: No, Indian Oil Is Not Sold To Adani Group As Claimed By Social Media Posts

Netizens are sharing an image of a petrol pump of IndianOil-Adani Gas Pvt. Ltd. with the claim that government has sold Indian Oil to Adani Group. The Logical Indian Fact-Check team debunked the claim.

India   |   18 Feb 2021 12:19 PM GMT
Writer : Yusha Rahman | Editor : Bharat Nayak | Creatives : Abhishek M
Fact Check: No, Indian Oil Is Not Sold To Adani Group As Claimed By Social Media Posts

Image Credit: Wikimedia

Netizens are sharing an image of a petrol pump named 'Indian Oil- Adani group'. This image is being shared with the claim that the Central government has sold Indian Oil to Adani Group.

The posts are intended to portray that the BJP government is selling all the government sector organisations to the Adani group. Since contentious farm laws were passed, posts claiming the government has sold several public sector units to Adani group are viral on social media. A few untrue claims The Logical Indian has debunked here, here, here and here.

The post is viral on Twitter.

Congress MLA Kunal Patil also tweeted the image with the caption, "Indian oil is Adani Gas, India's wealth is Adani's treasure!"

The image is also viral on Facebook.


Claim:

Indian Oil is now owned by the Adani group.

Fact Check:

The Logical Indian searched on the website of Indian Oil Corporations and found in the about us section that Indian Oil Corporations (IOC) have many subsidiaries and joint ventures. Adani Group is one of the joint ventures of IOC along with many other corporates.


We also checked on the about us section of Indian Oil Adani Gas Pvt. Ltd. and it mentioned, "IndianOil-Adani Gas Pvt. Ltd. (IOAGPL) 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."


On searching for Indian Oil Adani Gas on Zaubacorp we found that the company was registered on October 4, 2013. Hence, the company was registered during the UPA-II regime and not under the NDA regime.


PIB Fact Check also tweeted to refute the viral claim. PIB Fact Check tweeted, "It is being claimed on social media that Indian Oil Corporation Ltd. has been sold to a private entity.#PIBFactCheck: This claim is #Fake. The image exhibited is of IndianOil-Adani Gas Pvt. Ltd. which is a joint venture company of @IndianOilcl and Adani Gas Ltd."

Hence, the viral claim that Indian Oil Corporation has been sold to the Adani group by the current government is false.

If you have any news that you believe needs to be fact-checked, please email us at factcheck@thelogicalindian.com or WhatsApp at 6364000343.

Also Read: Fact Check: No, Sachin Tendulkar Has Not Replied To Journalist Rana Ayyub's Tweet

Claim Review :  Indian Oil is now owned by the Adani group.
Claimed By :  Social media
Fact Check :  False
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Contributors

Yusha Rahman

Yusha Rahman

Fact-Checker

Yusha, an engineer turned journalist with a core interest in sensible journalism. Since the time she worked in an MNC, she saw how fake news was rife to malign images of communities, leaders, etc. This encouraged her to give up her career in MNC and passionately work towards curbing fake news and propaganda.

Bharat Nayak

Bharat Nayak

Founding Editor - Special Project

As the founding editor, Bharat had been heading the newsroom during the formation years of the organization and worked towards editorial policies, conceptualizing and designing campaign strategies and collaborations. He believes that through the use of digital media, one could engage the millennial's in rational conversations about pertinent social issues, provoking them to think and bring a behavioral change accordingly.

Abhishek M

Abhishek M

Creative Supervisor

" An engineer by profession, Abhishek is the creative producer of the team, graphic designing is his passion and travelling his get away. In more ways than one, he makes the content visually appealing."

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