Indian Oil expands JV with Malaysia’s Petronas to focus on LNG plants

Indian Oil Corp NSE 0.33 % announced it was expanding its joint venture with Malaysia’s state-run Petronas to include building liquefied natural gas (LNG) terminals, fuel retailing and gas distribution.

IOC, the country’s top fuel retailer, imports some liquefied petroleum gas (LPG) through IndianOil Petronas Pvt Ltd, its equal joint venture with the Malaysian firm.