Reports said that the company is remodelling business with an increased focus on petrochemicals to hedge volatility in the fuel business.

The company intends to expand its refining capacity to 106.7 million tonnes per annum from 81.2 million tonnes, the reports said.

Indian Oil Corporation (IOC) is planning to set up green hydrogen plants at all its refineries as it pivots a Rs 2-lakh crore green transition plan to achieve net-zero emissions from its operations by 2046, according to reports.

Reports said that the company is remodelling business with an increased focus on petrochemicals to hedge volatility in the fuel business.

The company intends to expand its refining capacity to 106.7 million tonnes per annum from 81.2 million tonnes, the reports said.