Indian Oil Corporation has launched an internal investigation regarding alleged graft by American company which took place 15 years ago Indian Oil Corporation (IOC) has launched an investigation into allegations that a US specialty chemicals firm bribed its officials 15 years ago to obtain contracts for supplying catalysts, PTI news reported, citing one of the IOC’s regulatory filings. The US company, Albemarle Corporation, is known globally as a seller of catalysts used in oil refinery