Indian Oil Corporation plans to invest Rs 1.66 lakh crore over the next five years to boost its refining capacity, expand its petrochemicals and natural gas businesses, and accelerate its transition to renewable energy. The company aims to increase refining capacity to 98.4 million tonnes by 2028 and scale up its petrochemicals output significantly by 2030. Major investments will also go into expanding its pipeline network, developing green hydrogen, sustainable aviation fuel, and growing its renewable power capacity. Indian Oil is also focusing on new retail offerings, city gas expansion, and ventures in emerging sectors, all while maintaining strict capital discipline to ensure long-term value.