Indian Oil Corporation (IOC) Opens 2 Compressed Natural Gas (CNG) Retail Outlets, 15 More In Pipeline

The Indian Oil Corporation opened two retail stores in Coimbatore (Tamil Nadu) for dispensing of compressed natural gas (CNG) on Wednesday, April 21. The state-run oil refiner also plans to make the green fuel available for customers through 15 more such retail stores in Coimbatore in the current financial year. According to a statement released by the company, the oil refiner is building a city gate station or CGS and a steel pipeline network is being developed in various districts of Coimbatore, in order to bring piped gas connectivity to the commercial, industries, and domestic customers.

Currently, the oil company is delivering the CNG requirements in Coimbatore by bringing gas by light commercial vehicles. The connectivity through the natural gas pipeline is expected to begin by June 2021. Additionally, the company is authorised by the  Petroleum and Natural Gas
Regulatory Board to develop and implement the city gas distribution network in Salem and Coimbatore.

For the task, the state-run oil refiner will provide more than 12 lakh piped natural gas connections or PNG to the domestic households, and as many as 431 CNG stations for vehicle refilling in two districts over a period of eight years.

Indian Oil is a government-run oil and gas corporation under the Ministry of Petroleum and Natural Gas. It is also the biggest commercial oil firm in the country. Indian Oil Corporation is a listed company on stock exchanges BSE and NSE. On  Tuesday, April 21, share of Indian Oil settled 0.28 per cent lower at Rs 87.85 apiece on the BSE.