Indian Oil Corporation (IOC), the country’s largest refiner and fuel retailer, is all set to invest around Rs 45,000 crore over three years to build petrochemicals plants and LNG terminal, lay pipelines and upgrade its refineries, aided by a deregulation of fuel sales and oil price crash that have helped slash its debt. The state-run firm is also likely to benefit from a rise in crude oil prices since January without much price fluctuations.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.