The 18th largest petroleum company in the world, Indian Oil Corporation Ltd. (IndianOil) was formed in 1964 after the merger of Indian Oil Company Ltd with Indian Refineries Ltd. It is currently India's largest company (by sales). A wholly owned subsidiary, IndianOil Technologies Ltd., has been established for commercialising the innovations and technologies developed by IndianOil's R&D Centre. IndianOil controls ten of India's 18 refineries with a combined capacity of 54.20 million metric tonnes per annum. The company lays crude oil and petroleum products pipelines and provides consultancy for commissioning, operating and maintaining pipelines. IndianOil operates a total network of 8952 km crude oil and petroleum product pipelines.