The Indian Oil Corporation (IOCL) is planning to almost double its fuel retail outlets to more than 52,000 in the next three years from 27,000. These include both company-owned and franchisee-run outlets.
IOCL accounts for 44 percent of the market despite the entry of private sector in the segment.
IOCL is planning to double its refining capacity to 140 million tonne by 2030 to meet the growing demand.
For this, it has undertaken brownfield expansions at Chennai Petroleum Corporation, and is also preparing to set up a nine million tpa refinery at Nagapattinam in Tamil Nadu.