INDIAN OIL CORPORATION SIGNS MOU WITH AIR INDIA FOR SUPPLY OF SUSTAINABLE AVIATION FUEL

State-owned oil refiner and marketeer

has entered into a Memorandum of Understanding (MOU) with Air India for supply of Sustainable Aviation Fuel (SAF). IOC has became the first company in the country to receive ISCC CORSIA certification for production of sustainable aviation fuel at its Panipat refinery. This MOU outlines a shared commitment to promote adoption of low-carbon fuels in aviation, support global decarbonisation goals and contribute to the transition toward more sustainable air transport operations. Through this MOU, IOC and Air India aim to collaborate on the supply of SAF to meet the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) targets and even exceed them for international flights, ensuring a reliable, transparent, and sustainable fuel supply to support both companies’ environmental goals. With this milestone achievement, the sales revenue and profitability of IOC is expected to grow in the coming years.