Indian Oil Corporation (IOC) will reportedly invest Rs 1.8 trillion in the next 6-7 years to ramp up capacities in refineries and gas pipeline. In the current year, IOC will invest close to Rs 15,000 crore on various projects under implementation. But in the next three years, it expects to invest close to Rs 72,000 crore. The capex will include significant capacity additions of 24 million tonnes through brown-field expansions and quality upgradation in its refineries.
The company’s inventories had helped in improving gross refining margins (GRM) to $9.9 per barrel in Q1, which may not be sustained during the rest of the year. However, the Paradip refinery will help the Navaratna Company to improve the GRM in coming quarters.
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.
