The country’s Maharatna Oil India Limited plans to invest Rs 25,000 crore to work towards net-zero carbon emissions. Company Chairman Ranjit Rath said on Saturday that the company plans to invest Rs 25,000 crore in clean energy projects to help achieve the goal of net-zero carbon emissions by 2040. OIL’s net-zero plan includes reducing gas flaring and marketing stranded gas, as well as setting up renewable energy generation capacity and building green hydrogen, biogas and ethanol plants.
Diesel exports continue in Bangladesh
Rath said that despite the political unrest in Bangladesh, India has continued to export diesel to Bangladesh and there has been no impact on trade. He said that Numaligarh Refinery in Assam exports diesel to Bangladesh through a pipeline. Rath said, “There is no problem in this.” Numaligarh Refinery is a subsidiary of OIL and Rath is also the chairman of the refinery. He said that diesel export continues through the Siliguri (Assam) pipeline to Parvatipur (Bangladesh). This pipeline runs for 5,156 kilometres in India while in Bangladesh it runs for 124,346 kilometres.
made a plan like this
He said the net-zero plans will go hand in hand with the target of increasing crude oil and natural gas production to 90 lakh tonnes of oil and oil-equivalent gas by 2025-26 from 65 lakh tonnes produced in the last financial year (2023-24). The company is also planning to lay an 80-kilometre pipeline to carry natural gas from fields in Arunachal Pradesh to Assam, to replace polluting liquid fuel in transport and industry. He said achieving the net-zero target requires a variety of activities. He said the company has already planned 640 MW solar projects in Assam and 150 MW in Himachal Pradesh.
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These government companies are also working
OIL joins state-owned companies that are investing billions of dollars to help India achieve net-zero emissions by 2070. The country’s largest oil company, Indian Oil Corporation (IOC), is targeting net-zero emissions by 2046, while oil and gas producer ONGC has announced an investment of Rs 2 lakh crore to achieve the same target by 2038. Bharat Petroleum Corporation Limited (BPCL) and gas services firm GAIL (India) Limited have also set a target of achieving net-zero carbon emissions from their operations by 2040, while Hindustan Petroleum Corporation Limited (HPCL) wants to do so by 2046.
