State-owned Indian Oil Corporation (IOC) increased liquefied petroleum gas (LPG) production by nearly 30% and kept its refineries running above full capacity as disruptions to maritime trade through the Strait of Hormuz put India's energy supplies under pressure, chairman Arvinder Singh Sahney said on Monday.
Addressing IOC's 67th annual general meeting, Sahney said the escalation of the West Asia conflict had disrupted global energy markets and forced the company to diversify crude sourcing, rework refinery operations and secure supplies from alternative geographies.
