Oil India to Invest Rs 25,000 Crore in Clean Energy
OIL & GAS

Oil India to Invest Rs 25,000 Crore in Clean Energy

"State-owned Oil India Ltd has announced a significant investment of Rs 25,000 crore in clean energy projects as part of its commitment to achieve net zero carbon emissions by 2040. Chairman Ranjit Rath revealed the plans during a press briefing on Saturday.

The company's net zero strategy involves reducing gas flaring, commercializing stranded gas, and developing renewable energy infrastructure. This includes setting up green hydrogen plants, building ethanol plants, and expanding its renewable electricity generation capacity. Specifically, Oil India is planning 640 MW of solar projects in Assam and 150 MW in Himachal Pradesh.

In addition to its clean energy efforts, Oil India aims to increase its crude oil and natural gas production to 9 million tonnes by 2025-26, up from 6.5 million tonnes in the fiscal year ending March 31, 2024. The company is also planning to lay an 80-kilometer pipeline to transport natural gas from Arunachal Pradesh to Assam, which will help replace polluting liquid fuels in transportation and industries.

Rath emphasized that achieving net zero involves a comprehensive approach. Oil India is also intensifying its exploration efforts, with a plan to drill over 75 wells this year, up from 61 wells last year. This is part of an effort to counteract a 12% decline in production from mature fields and to tap into new reservoirs using advanced technology.

On the expansion front, Rath noted that the Numaligarh Refinery in Assam is set to increase its capacity from 3 million tonnes per annum to 9 million tonnes by December 2025. This expansion, estimated to cost Rs 28,000 crore, is part of the company's broader strategy to enhance production and meet future energy demands.

Oil India’s commitment aligns with the broader industry goal, as other state-owned firms like Indian Oil Corporation (IOC), ONGC, Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) also target net zero emissions by various dates, ranging from 2040 to 2046."

State-owned Oil India Ltd has announced a significant investment of Rs 25,000 crore in clean energy projects as part of its commitment to achieve net zero carbon emissions by 2040. Chairman Ranjit Rath revealed the plans during a press briefing on Saturday. The company's net zero strategy involves reducing gas flaring, commercializing stranded gas, and developing renewable energy infrastructure. This includes setting up green hydrogen plants, building ethanol plants, and expanding its renewable electricity generation capacity. Specifically, Oil India is planning 640 MW of solar projects in Assam and 150 MW in Himachal Pradesh. In addition to its clean energy efforts, Oil India aims to increase its crude oil and natural gas production to 9 million tonnes by 2025-26, up from 6.5 million tonnes in the fiscal year ending March 31, 2024. The company is also planning to lay an 80-kilometer pipeline to transport natural gas from Arunachal Pradesh to Assam, which will help replace polluting liquid fuels in transportation and industries. Rath emphasized that achieving net zero involves a comprehensive approach. Oil India is also intensifying its exploration efforts, with a plan to drill over 75 wells this year, up from 61 wells last year. This is part of an effort to counteract a 12% decline in production from mature fields and to tap into new reservoirs using advanced technology. On the expansion front, Rath noted that the Numaligarh Refinery in Assam is set to increase its capacity from 3 million tonnes per annum to 9 million tonnes by December 2025. This expansion, estimated to cost Rs 28,000 crore, is part of the company's broader strategy to enhance production and meet future energy demands. Oil India’s commitment aligns with the broader industry goal, as other state-owned firms like Indian Oil Corporation (IOC), ONGC, Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) also target net zero emissions by various dates, ranging from 2040 to 2046.

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?