IOC Prioritizes Commercial Viability in Crude Sourcing, Eyes Nuclear & Renewables

• IOC Chairman Arvinder Singh Sahney states crude purchases are based purely on commercial considerations, not discounts or geopolitics.
• The company is diversifying its crude sourcing, expanding from 27 to 41 geographies in five years, using AI-driven models for optimization.
• IOC plans to enter the nuclear energy segment, identifying land parcels and seeking global partners, with projects potentially benefiting from the SHANTI Bill.
• The company is aggressively expanding into renewable energy, targeting 18 GW capacity by 2030, including India's largest green hydrogen plant.
• IOC maintains an annual capex of Rs 35-40,000 crore and focuses on improving supply chains and increasing domestic crude production.

Why It Matters: IOC emphasizes commercial viability in crude sourcing while strategically expanding into nuclear and renewable energy sectors.