IOC Chief Dismisses Fuel Excise Hike Talk, Focuses on Green Energy Future

• IOC Chairman AS Sahney stated there is no indication of an immediate fuel excise duty hike, addressing market concerns.
• Sahney emphasized that pump prices are primarily influenced by refining margins, not solely crude oil prices.
• IOC is heavily investing in biofuels, green hydrogen, and sustainable aviation fuel as part of its long-term growth strategy.
• The company plans to set up a 10,000 tonne per year green hydrogen plant in Panipat, expected by December 2027.
• IOC will begin supplying sustainable aviation fuel by May or June to meet the 1% blending mandate for 2027.

Why It Matters: IOC dismisses excise hike rumors, prioritizing green energy investments and refinery efficiency for future growth.