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Indian Oil Corporation (IOC) Chairman AS Sahney announced at the World Economic Forum 2026 in Davos that global crude prices are expected to remain stable around $60-$64 per barrel due to ample supply, despite geopolitical risks. He ruled out any immediate excise duty hikes and confirmed LPG subsidy support until October 2026.

IOC is pursuing renewable energy initiatives, including a 10,000 tonne per year green hydrogen plant in Panipat, expected to be operational by December 2027, and plans to supply sustainable aviation fuel by mid-2026. Sahney emphasized the importance of refining margins in determining fuel prices and mentioned ongoing efficiency improvements across IOC's operations.

The company's net-zero target for 2046 and capital expenditure plans remain unchanged. IOC is also focusing on biofuels, compressed biogas, and ethanol as part of its long-term growth strategy.