Indian Oil Corporation's (IOC) state-of-the-art INDMAX refining technology has been selected by a Serbian oil and gas company for production of higher value products from crude oil. The first-ever overseas agreement to licence the refinery process technology for high propylene production was signed between Naftna Industrija Srbije (NIS) of Serbia and Lummus Technology Inc, USA.
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.