Oil India Ltd's Ambitious Clean Energy Investment Plan
Key Ideas
  • Oil India Ltd to invest Rs 25,000 crore in clean energy projects to achieve net zero carbon emissions by 2040.
  • Plans include cutting down gas flaring, renewable electricity generation, green hydrogen plants, and biogas/ethanol plants.
  • Company aims to increase crude oil and natural gas production, lay pipeline for natural gas transportation, and expand solar projects.
  • Oil India Ltd joins other state-owned firms in India in investing in clean energy to achieve net zero emission goals by specific target years.
Oil India Ltd, a state-owned company, is set to invest Rs 25,000 crore in clean energy projects to help achieve the net zero carbon emission goal by 2040. The company's plan includes reducing gas flaring, developing renewable electricity generation capacity, constructing green hydrogen plants, and setting up biogas and ethanol plants. Additionally, they aim to increase crude oil and natural gas production, lay an 80-kilometer pipeline for natural gas transportation, and expand their solar projects. Oil India Ltd's Chairman, Ranjit Rath, highlighted the importance of a diverse range of activities to reach the net zero target. The company is intensifying exploration efforts and using technology to increase output from existing fields. Oil India Ltd is part of a group of state-owned firms, including Indian Oil Corporation, ONGC, BPCL, GAIL, and HPCL, which are investing in clean energy to help India achieve net zero emissions by specific target years. The company also plans to expand the capacity of its Numaligarh refinery in Assam. This ambitious investment and expansion plan align with India's broader goal of transitioning towards cleaner energy sources and reducing carbon emissions.
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