Indian Oil's SPRINT Ignites Transformation in Fuel Retail
Indian Oil Corporation's SPRINT project is revamping the company's operations, boosting refinery performance and reclaiming its fuel retail leadership. Project SPRINT aims to future-proof the company, focusing on core activities, cost optimization, and customer-centric initiatives while transitioning toward renewable energy.
- Country:
- India
Indian Oil Corporation (IOC) is witnessing significant improvements in operational performance at its refineries as part of its transformative project, SPRINT, according to Chairman Arvindar Singh Sahney. The project, initiated in April, aims to future-proof India's largest oil firm by aligning with the evolving global energy landscape.
SPRINT stands for strengthening the company's core areas like oil refining and petrochemicals, optimizing costs for increased profitability, and enhancing customer engagement. The project also focuses on integrating technology and fostering leadership while transitioning towards sustainable energy solutions.
Designed to maintain IOC's leadership amidst changing energy dynamics, SPRINT has already shown results. Improved retail expansion has allowed IOC to capture nearly 42 percent of the market share, reclaiming its position in fuel retailing. Concurrently, the company is investing significantly in energy transition, emphasizing renewables and sustainable energy solutions.
(With inputs from agencies.)
Google News