Indian Oil Corporation (IOC) has entered into a licencing agreement with Evonik, a euro 1.9 billion creative industrial group from Germany, to get hydraulic fluid formulated with DYNAVIS technology in India. This oil will help the hydraulic equipment owners and operators (e.g. excavators, loaders, etc.) achieve higher levels of fuel efficiency and productivity.
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.