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IOC to venture into green hydrogen production
Indian Oil Corporation (IOC) is targeting to replace at least a tenth of its current fossil-fuel-based hydrogen at its refineries with carbon-free green hydrogen as part of a decarbonisation drive. To start with, the nation's largest oil firm is setting up green hydrogen plants at its Panipat and Mathura refineries, IOC said in its latest annual report.
The company is venturing into green hydrogen production and is targeting 5% of hydrogen produced by it as green hydrogen by 2027-28 and 10% by 2029-30.
Hydrogen is the cleanest known energy source but it barely exists in a pure form on Earth. It either is bounded with oxygen in water or with carbon to form hydrocarbons like fossil fuels.
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