IOC's Multi-Billion Investment Plan: Powering India's Energy Future

Indian Oil Corporation (IOC), India's leading oil company, is set to make a landmark investment of Rs 1.66 lakh crore over the next five years. This ambitious initiative aims to elevate domestic oil refining, fuel marketing, and drive growth in petrochemicals, natural gas, and renewable energy sectors.

The company's refining capacity is poised to increase from 80.75 million tonnes to 98.4 million tonnes per year by 2028. This development is part of larger expansion projects in Panipat, Gujarat, and Barauni. To facilitate a sustainable and swift energy transition, IOC plans to extend its pipeline network to 22,000 km, including new storage facilities in Nepal.

IOC is also focusing on petrochemicals, aiming to boost capacity and reduce import dependency while increasing margins. In addition, the company is enhancing its fuel retailing network with modern additions like EV chargers and CNG stations, alongside substantial investments in green hydrogen and sustainable aviation fuel to achieve net-zero emissions by 2046.