ONGC's Green Transformation: Spearheading India's Sustainable Energy Future
Key Ideas
  • ONGC is aligning with India's climate goals by reducing emissions and aiming for Net-Zero by 2038.
  • The company is investing heavily in green initiatives, with plans to scale up renewable energy capacity to 10 GW by 2030.
  • ONGC is focusing on pioneering technologies such as CCUS and exploring greenfield Oil-to-Chemical plants in India.
  • While transitioning to a low-carbon future, ONGC maintains a focus on Exploration and Production, with a strategic 'Future Exploration Strategy'.
Oil and Natural Gas Corporation (ONGC) in India is undergoing a significant transformation to align with the country's climate goals. The company has reduced its emissions by 17% over the past five years and aims to become Net-Zero for Scope-1 and Scope-2 emissions by 2038. ONGC is investing ₹1 trillion by 2030 to expand its renewable energy capacity to 10 GW. The company is also forging strategic partnerships in green initiatives like renewables, green hydrogen, and CCUS technologies. ONGC is focusing on innovation, including carbon capture, utilization, and storage, as well as exploring greenfield Oil-to-Chemical plants. Despite the shift towards sustainability, ONGC maintains a strong focus on its core Exploration and Production activities with a 'Future Exploration Strategy' to expand its active exploration areas. The company is positioning itself as a diversified energy major, balancing traditional oil and gas with clean energy investments, showing a commitment to a sustainable future.
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