IOC Targets 1.5x Gas Sales by 2030 Amid Hormuz Corridor Concerns
Indian Oil Corporation (IOC) is planning to increase its natural gas sales by 1.5 times by 2030, as part of a broader effort to diversify its energy portfolio and strengthen supply-chain resilience.
The move comes after the West Asia conflict exposed India's dependence on the Hormuz corridor, which accounts for more than 88% of the country's crude imports and nearly 90% of LPG imports.
IOC has already achieved record gas sales of 7.09 million tonnes in FY26, with its city gas distribution business turning Ebitda-positive. To meet its 2030 target, the company plans to expand across the global gas value chain.
In addition to increasing natural gas sales, IOC is also working on a fleet management partnership with a leading Indian shipping company and other oil marketing companies. This initiative aims to give the company greater strategic control over energy logistics and improve supply reliability.