Indian Oil Corp. looks to spin out renewable energy assets in 2023

In India, the Economic Times of India newspaper reports Indian Oil Corp. is looking to spin out its green energy activities into another company in an effort to secure strategic partners that may not be interested in investing in an oil company. Currently the company has assets in biofuel, biogas, green hydrogen, EV mobility and EV batteries with plans for expansion and believes it could monetize its assets easily in a separate entity that is expected to launch in 2023.