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Oil India plans to invest Rs 25,000 crore to achieve net-zero targets by 2040: CMD

Date:	14 Sep 2023

Source:	Money Control

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News ID:	56908

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Oil India plans to invest in green hydrogen, setting up of 2G ethanol plant, compressed biogas plants, and carbon capture utilisation

State-run Oil India Limited (OIL) plans to invest Rs 25,000 crore to achieve its net-zero emissions target, the oil and gas explorer's Chairman and Managing Director Ranjit Rath said on September 14.

Rath said at a press conference that OIL commits to invest in green hydrogen, setting up of 2G ethanol plant, compressed biogas plants, carbon capture utilisation among others.

The explorer, which has recently been elevated to a Maharatna company status, plans to invest around Rs 8,000 crore in setting up of 2G ethanol plant.

Aligned with government’s plan of increasing share of natural gas in India’s energy mix to 15 percent, Rath said OIL plans to convert all its diesel engines to gas engines.

The company is also laying a gas pipeline of 80 kilometers from Arunachal Pradesh to Assam, which would bring gas to OIL’s headquarters in Duliajan, he added

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