MUMBAI: State-run oil firm, Indian Oil Corporation Ltd (IOCL), has empanelled five agencies to cover the Northern region following a multi-agency pitch.

The five agencies are Crayons, Goldmine, Adwit, Square Communications and Mode Advertising. Initially the duration for the agencies will be one year, which can then be extended for another year.

IOCL has empanelled these agencies primarily to insert various ads in newspapers such as tender notices, vendor registration and awards of tenders in the region.
 
The public sector company faces tough competition from its two Fortune 500 companies, Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation Limited (HPCL).

Meanwhile, HPCL is looking for new agencies to be empanelled for a period of three years.