Indian Oil’s current refining capacity stands at 81 mtpa, with a target to reach 98 mtpa by FY27.

(Photo Source: Vijay Sartape/ NDTV Profit) Aggressive capex plans are intended to gradually increase the share of petrochemical and specialty chemicals, shifting away Indian Oil’s dependence from simple refining while investments in renewables, biomass and gas are intended to diversify the business mix materially over FY26-30.

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