Indian Oil Corporation (IOC) is reportedly planning to invest around $5 billion to expand its exploration and production business, while the company will invest half of the said amount into acquisition of new assets that are increasingly becoming available in the wake of a global crude oil crash.
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.