ONGC and Reliance to Collaborate in India's Largest Exploration Round
Key Ideas
  • ONGC and Reliance Industries Ltd. are set to bid together in India's 10th round of the Open Acreage Licensing Policy, marking a significant collaboration.
  • Union Minister Hardeep Singh Puri highlighted India's progress in green energy, biofuels, green hydrogen, and compressed biogas at the India Energy Week.
  • BPCL and HPCL's agreement to develop sustainable aviation fuel reflects India's commitment to reducing carbon emissions in the aviation sector.
  • These developments signify India's efforts towards energy security and sustainability amidst rising energy demand.
State-run Oil and Natural Gas Corporation (ONGC) and Reliance Industries Ltd. (RIL) are joining forces to participate in India's largest exploration round, the 10th round of the Open Acreage Licensing Policy (OALP). This bidding round has attracted interest for a vast 210,000 square kilometres of exploration acreage, indicating significant industry enthusiasm. The Union Minister, Hardeep Singh Puri, emphasized India's advancements in various energy sectors at the India Energy Week, praising the country's progress in green energy, biofuels, green hydrogen, and compressed biogas. He also highlighted the growth of India's platform as the world's second-largest energy forum within a short span of three years. In a move towards sustainability and reducing carbon emissions in the aviation sector, Bharat Petroleum Corporation Ltd. (BPCL) and Hindustan Petroleum Corporation Ltd. (HPCL) have entered into an agreement to develop sustainable aviation fuel (SAF). This initiative aligns with India's commitment to fostering energy security and sustainability amidst the escalating energy demand. The collaboration between these major companies underscores the ongoing efforts within the Indian energy industry towards cleaner and more environmentally friendly solutions. Additionally, GAIL, a prominent Indian gas company, has also signed a memorandum of understanding (MoU) with Cummins to embark on clean energy projects and transition towards green technology, further indicating India's stride towards a greener and more sustainable energy landscape.
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