Orissa won’t get additional fuel outlets

The global credit crunch is having an impact on state-run Indian Oil Corp.’s (IOC) expansion plans in Orissa, which is located on the east coast of India and is the eleventh largest state by population, consuming 2.4 million liters of petrol and diesel per year. IOC said it would not be able to open additional fuel outlets in Orissa this year, despite the shortage of retail stations. IOC has 476 outlets or close to 50% share, out of the total 1,000 outlets in Orissa. Other state-owned oil companies Bharat Petroleum Corp. Ltd. and Hindustan Petroleum Corp. Ltd. each have the remaining 25% share. (January 15, 2009)