Indian Oil Chairman Discusses Impact of US Sanctions on Russia and Green Hydrogen Project
Key Ideas
  • Indian Oil Chairman reassures minimal impact of US sanctions on India's energy supply, expects stable crude prices of $75-$85 per barrel.
  • India has multiple energy sources like OPEC, OPEC+, Guyana, Brazil, and the US to meet its energy needs.
  • Indian Oil is focused on expanding city gas distribution network and developing infrastructure for green hydrogen production.
  • India aims to achieve a green hydrogen production capacity of 5 million tonnes by 2030 under the National Green Hydrogen Mission.
Indian Oil Chairman Arvinder Singh Sahney addressed the limited effect of US sanctions on Russia on India's energy supply at Davos. He stated that India has diverse energy sources from OPEC, OPEC+, Guyana, Brazil, and the US to meet its needs efficiently. Sahney anticipates international crude prices to remain stable between $75 to $85 per barrel. He emphasized the expansion of the city gas distribution network and mentioned their focus on green hydrogen production, with a 10,000 tonnes per annum capacity plant planned at Panipat within 2 years. India's push towards renewable energy is evident through initiatives like the National Green Hydrogen Mission, aiming for a green hydrogen production capacity of 5 million tonnes by 2030. The sentiment in the article is positive, highlighting India's preparedness to handle energy supply challenges and its commitment to green energy solutions.
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