IOC to expand the number of fuel retail outlets to 52000 in three years

Company to wait for government stand on Iran sanctions

State-run Indian Oil Corporation (IOC) looks to expand its fuel retail network to 52000 outlets in the next three years time, top company officials said.

Gurmeet Singh, director for marketing at IOC said the company looks to take the current 27185 number of retail outlets to 52000 outlets in the next three years time. He did not share details on what would be the share on company owned and company operated outlets. The move is to ensure the company continues to hold on its 44% market share and leadership position in fuel retailing in India.

Commenting on Iran sanctions, company