IndianOil crafts a growth roadmap with game changers

13 November 2017

Striking a balance between meeting India's fast growing demand for oil products and preparing for potential game changers in the long term crafts out a roadmap for the country's biggest oil company.

India posted the highest growth in demand for oil products in 13 months in September at 9.9% as the effects of some key economic reforms started to fade, while an uptick in manufacturing and robust auto sales boosted consumption of industrial and transport fuels.

IndianOil was the first Indian state-run company to seal a deal for US crude this year. The arrival of the US crude marked the first cargo of a total contracted volume of around 8 M barrels by Indian state-owned refiners this year.

In addition, IndianOil is also exploring ways to join hands with established players in neighboring countries to explore business opportunities that could benefit both sides -- such as LPG storage, infrastructure facilities to distribute petroleum products, as well as transport facilities.

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