Indian Oil Corporation (IOC), India’s largest oil company, has launched Project SPRINT, a major transformation initiative aimed at making the company future-ready amid a rapidly evolving global energy landscape. The project is designed to help IOC stay relevant, competitive, and profitable while preparing for the energy transition away from fossil fuels.SPRINT stands for:Strengthening core businesses (refining, petrochemicals, fuel marketing)Propelling cost optimisationReinforcing customer centricityIntegrating technology and innovationNurturing talent and leadershipTransition readinessIn a post on X, the company stated, “IndianOil unveils Project SPRINT, a transformational leap forward, rooted in our legacy of trust and guided by the spirit of Nation First.”Project SPRINT is spearheaded by IOC’s new chairman, Arvindar Singh Sahney, who emphasised the need to revamp strategies across business verticals to build a smarter, more agile organisation ready to lead in the future energy market.The initiative comes at a time when the global focus is shifting from fossil fuels to sustainable energy sources. Recognising this, IOC aims to diversify and expand into clean energy while continuing to scale its core operations.IOC, which operates 10 oil refineries with a combined capacity of 80.8 million tonnes (about one-third of India’s refining capacity), is also a major player in fuel retailing and LPG distribution. It owns 39,651 petrol pumps, nearly half of India’s LPG distribution network, and 129 aviation fuel stations.Project SPRINT signals IOC’s commitment to leading India’s energy transition, with a focus on renewable energy, battery storage, and clean fuel technologies, ensuring the company’s long-term relevance and leadership in the energy sector.(dailyexcelcior)