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Indian Oil bets big on growing demand for natural gas

Reuters  |  MUMBAI 

By Promit MukherjeeMUMBAI (Reuters) - State-run refiner Indian Oil Corp aims to be one of the top natural gas suppliers in India in the next five years as it bets on growing demand for transport and factories.The company is aiming to generate 15 percent of revenues from its gas supply and distribution business by 2021, Chairman B Ashok told Reuters on the sidelines of a news conference on Wednesday.He said the company has already committed 180 billion rupees to building gas distribution infrastructure across the country and has booked LNG regasification facilities.Currently the gas trading ...

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First Published: Wed, September 14 2016. 20:15 IST
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