Indian Oil Corporation (IOC) announced that it has decided to raise the capacity of its Mathura refinery to 11 million tonnes from the present eight million tonnes and was looking forward to early clearance at the Central government level.

While addressing reports, Mr. B N Bankapur, director of  Indian Oil Corporation remarked, “We have approached the Ministry of Environment and Forest for clearance to expand our Mathura refinery."

According to the sources, the addition in Mathura refinery has been hanging fire with the Ministry of Environment and Forest for authorization as fears have been expressed about the impact the project might have on the 17th-century monument Taj Mahal.

The profit and loss account of the company ( IOC) has revealed a net profit of Rs 6962 crore  for year ending March 2008, and Rs 415 crore for quarter ending June 2008.

Stock of Indian Oil Corporation ended the day ( Friday, 12 September 2008) at Rs 407, down 0.96 per cent on National Stock Exchange. The total volume of share traded was 566,050 at NSE.