IOC to foray into Bangladesh, Myanmar and others

IOC on Tuesday posted a 29 per cent jump in its third quarter net profit

In a strategy that may work in tandem with the Look East policy of India, state-run Indian Oil Corporation is set to foray into retail, pipeline and refinery sectors in Bangladesh, Myanmar, Vietnam and Nepal. 

While the company is looking to enter into Bangladesh and Myanmar in segments like fuel retail and LPG marketing, in Vietnam, the focus would be on refining opportunities. “We have already submitted bids for fuel trade in Myanmar. On the other hand, in Vietnam, we are already co-ordinating with the local company to train their refinery staff and the company is looking at investment options in