State-owned Indian Oil Corporation Ltd. (IOC) became the first company in the country to achieve ISCC CORSIA Certification for Sustainable Aviation Fuel
(SAF) production at Panipat Refinery.
This certification will allow the IOC's Panipat refinery to produce SAF, which is an alternative fuel for the conventional aviation turbine fuel (ATF).
What is SAF?
SAF stands for Sustainable Aviation Fuel. It is a type of alternative jet fuel made from renewable resources or waste materials (such as used cooking oil, plant oils, agricultural residues, municipal solid waste, or animal fats), rather than traditional fossil fuels.
SAF can significantly reduce greenhouse gas emissions, sometimes by up to 80-94 per cent compared to standard jet fuel, depending on the feedstock and production method.
India has mandated 1 per cent SAF blending in jet fuel sold to international airlines from 2027.
What is ISCC CORSIA Certification?
The ISCC CORSIA certification, i.e. International Sustainability & Carbon Certification (ISCC) developed under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) by the International Civil Aviation Organisation (ICAO), validates that SAF meets the highest international sustainability and lifecycle carbon emission standards.
Indian Oil Panipat refinery
The Indian Oil Panipat Refinery, located in Haryana, is one of the largest and most advanced public sector refineries and petrochemical complexes in India. Commissioned in July 1998, its current refining capacity stands at 15 million metric tonnes per annum (MMTPA).
Indian Oil Corporation Quarterly Results
State-owned Indian Oil Corporation Ltd (IOC ) reported more than a doubling of its first quarter net profit, as marketing margins surged because of holding of retail prices despite a drop in input oil cost.
Its standalone net profit stood at Rs 5,688.60 crore in April-June - the first quarter of the 2025-26 fiscal year - compared to Rs 2,643.18 crore earnings in the same period of the last year, according to a stock exchange filing by the company.
The first quarter profit is nearly half of the company's full 2024-25 (April 2024 to March 2025) fiscal year earnings of Rs 12,961.57 crore.
IOC stock prices
As of 10:35 AM, the prices of IOC were at Rs 140, about 0.1 per cent lower than its previous closing price. The company's prices traded intraday high of Rs 142.20.
