Indian Oil Corporation aims to become a $1 trillion enterprise by 2047, diversifying into clean energy and achieving net-zero carbon emissions by 2046.
Indian Oil Corporation (IOC), India's largest oil company, aims to become a $1 trillion enterprise by 2047, incorporating traditional oil refining and fuel marketing alongside clean energy avenues like green hydrogen and EV charging. The company achieved a record net profit of $4.7 billion on revenue of $104.6 billion in the 2023-24 fiscal. To achieve net-zero carbon emissions by 2046, IOC plans to expand oil refining capacity, invest in petrochemical units, focus on gas, biofuels, and clean mobility.
July 21, 2024
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