Project Sprint helps IndianOil save ₹2,200 cr in FY26 as West Asia conflict saps margins. Even as the West Asia conflict impacted profitability of PSU oil marketing companies (OMCs), Indian Oil Corporation (IOCL) saved ₹2,200 crore in FY26 leveraging Project Sprint -- the refiner’s latest strategy to become future ready. Besides, the country’s largest fuel retailer expects to save ₹2,500 crore leveraging Project Sprint in the current financial year, which ends March 2027, and is expected to be severely mauled by the closure of the Strait of Hormuz (SoH) and reconstruction of damaged oil and gas infrastructure. Although the latest conflict in West Asia only began on February 28, 2026, the entire FY26 has been marked by sanction actions from the US, the UK and the EU, which kept refiners busy managing cargoes and logistics amid shifting geopolitical narratives. $IOC April-June FY27 will be the first quarter when the full impact of the latest tensions in the middle east gulf (MEG) region will be visible. During the OMCs FY26 results’ analyst call last week, the company’s management told analysts that IOCL saved around ₹2,200 crore in FY26 through the project and has targeted a saving of ₹2,500 crore in FY27.