New Delhi, Oct 07: India's largest oil firm Indian Oil Corporation (IOC) today expressed strong reservations against any move to split the fortune 500 company and instead suggested offloading government equity in market to mobilise revenue for the government. "Worldover companies are not divided... The trend is of integration (along the hydrocarbon value chain). We wish government will support us for further integration and realising better value later," IOC chairman M S Ramachandran said after paying a dividend of Rs 1533 crore to petroleum minister Ram Naik here.
IOC is believed to have suggested to the government to offload upto 20 per cent stake in the capital market for realising Rs 8000 crore instead of splitting IOC into refining and retailing companies.

Bureau Report