Oil India Limited
Public sector Oil India Ltd Chairman Ranjit Rath on Saturday said the company plans to invest Rs 25,000 crore in clean energy projects to help it achieve the target of net zero carbon emissions by 2040. OIL’s net zero plan includes cutting gas burning and commercialisation of stranded gas as well as setting up renewable power generation capacity and building green hydrogen, biogas and ethanol plants.
Diesel export to Bangladesh continues
Rath said despite the political unrest in Bangladesh, India has continued to export diesel to Bangladesh and there has been no impact on the business. He said the company exports diesel to Bangladesh through the Numaligarh Refinery pipeline in Assam. “There is no disruption in this,” Rath said. Numaligarh Refinery is a subsidiary of OIL and Rath is also the chairman of the refinery. He said diesel exports continue through the Siliguri (Assam) to Parvatipur (Bangladesh) pipeline. The pipeline passes through 5.156 km in India, while it passes through 124.346 km in Bangladesh.
An 80 kilometer long pipeline will be laid here
He told reporters that the net zero plans will go hand in hand with the target to raise production of crude oil and natural gas to 9 million tonnes of oil and oil equivalent gas by 2025-26 from 6.5 million tonnes produced in the last fiscal (2023-24). The company also plans to lay an 80-km pipeline to bring natural gas from fields in Arunachal Pradesh to Assam to replace polluting liquid fuels in transport and industries.
Aiming for net zero carbon emissions
“Achieving the net zero target requires a range of activities,” he said. He added that the company has already planned solar projects of 640 MW in Assam and 150 MW in Himachal Pradesh. OIL joins a number of 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 by 2046, while oil and gas producer ONGC has announced an investment of Rs two lakh crore to achieve the same target by 2038. Bharat Petroleum Corporation Ltd (BPCL) and gas utility company GAIL (India) Ltd have also set targets by 2040 to achieve net zero carbon emissions from their operations, while Hindustan Petroleum Corporation Ltd (HPCL) wants to do so by 2046.
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