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Indian Oil Corporation to invest Rs 1 lakh crore to increase refining capacity

27 Aug 2021 Evaluate

Indian Oil Corporation (IOC) is planning to invest close to Rs 1 lakh crore to raise its refining capacity by almost a third in the next 4-5 years as it saw fuel demand continuing to grow in near future. Forecasts by various agencies see Indian fuel demand climbing to 400-450 million tonne by 2040 from the present 250 million tonne. This offers enough legroom for all forms of energy to co-exist.

To cater to that demand surge, IOC is aggressively rolling out new projects. These translate into refining capacity expansion of over 25 million metric tonne per annum, including (subsidiary) CPCL, and an investment commitment of close to Rs 1 lakh crore over the next 4 to 5 years. IOC operates 11 refineries that convert crude oil into valued fuels such as petrol and diesel. These have a combined capacity of 81.2 million tonne.

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.

Indian Oil Corp. Share Price

144.70 -2.15 (-1.46%)
08-May-2026 16:59 View Price Chart
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Company Name CMP
Reliance Industries 1435.70
Indian Oil Corp. 144.70
BPCL 302.85
HPCL 387.00
MRPL 167.90
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