Indian Oil Corporation (IOC) is planning to partner with Malaysia’s Petronas for natural gas and transportation fuel retailing business. Currently, IOC and Petronas have a joint venture, IndianOil Petronas Private Limited (IPPL) for import of liquefied petroleum gas. IPPL is now planning to diversify into natural gas and transportation fuel retailing business and set up petrol pumps as well as enter the city gas distribution business.
Currently, IOC owns 32,303 out of 77,709 petrol pumps in the country. Further, it also has licenses to retail compressed natural gas to automobiles and piped cooking gas to households in several geographical areas.