Oil India's Ambitious Net Zero Plan: A Multifaceted Strategy Towards Sustainable Energy Future
Key Ideas
  • Oil India Ltd plans to invest Rs 25,000 crore in clean energy projects to achieve net zero carbon emissions by 2040.
  • The company's strategy involves reducing gas flaring, commercializing stranded gas, setting up renewable electricity generation capacity, green hydrogen plants, and biogas and ethanol plants.
  • The plan aims to increase crude oil and natural gas production to 9 million tonnes by 2025-26 and includes laying an 80-kilometer pipeline to transport natural gas from Arunachal Pradesh to Assam.
  • Oil India's initiatives align with other state-owned firms in India, including Indian Oil Corporation, ONGC, BPCL, GAIL, and HPCL, all working towards achieving net zero emissions within the next two decades.
Oil India Ltd, a state-owned company, is set to invest Rs 25,000 crore in clean energy projects to reach the net zero carbon emissions target by 2040. The plan encompasses various initiatives such as reducing gas flaring, commercializing stranded gas, establishing renewable electricity generation capacity, green hydrogen plants, and biogas and ethanol plants. In addition to focusing on sustainable energy projects, Oil India aims to boost crude oil and natural gas production to 9 million tonnes by 2025-26, up from 6.5 million tonnes in the previous fiscal year. The company is also planning to construct an 80-kilometer pipeline to transport natural gas from Arunachal Pradesh to Assam, facilitating the substitution of polluting liquid fuels in transport and industries. With plans for 640 MW of solar projects in Assam and 150 MW in Himachal Pradesh, Oil India is diversifying its energy portfolio towards renewable sources. The company's endeavors align with the broader national goal of achieving net zero emissions, with other major state-owned firms like Indian Oil Corporation, ONGC, BPCL, GAIL, and HPCL also committing to similar targets. By investing in clean energy, increasing oil and gas production, and expanding refinery capacities, Oil India is poised to play a significant role in India's energy transition towards a more sustainable future.
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