Oil India will invest Rs 25,000 crore for zero carbon emissions by 2040, know what is the plan

State-owned Oil India Ltd Chairman Ranjit Rath said the company plans to invest Rs 25,000 crore in clean energy projects to help achieve the target of net zero carbon emissions by 2040. OIL’s net zero plan includes reduction in gas flaring and commercialization of stranded gas as well as setting up renewable power generation capacity and construction of green hydrogen, biogas and ethanol plants.

Diesel export to Bangladesh continues

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 the company exports diesel to Bangladesh through Numaligarh Refinery pipeline in Assam. 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 export of diesel is continuing through Siliguri (Assam) to Parvatipur (Bangladesh) pipeline. This pipeline passes through 5.156 kilometers in India, while in Bangladesh it passes through 124.346 kilometers.

80 kilometer long pipeline will be laid here

He told reporters that the net zero plans will run alongside the target of increasing crude oil and natural gas production to 90 lakh tonnes of oil and oil equivalent gas by 2025-26, up from 65 lakh tonnes produced in the previous financial year (2023-24). lakh tonnes. 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 fuel in transport and industry.

Target of net zero carbon emissions

“Achieving net zero requires a range of activities,” he said. He said the company has already planned 640 MW solar projects in Assam and 150 MW in Himachal Pradesh. OIL joins government-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 2 lakh crore to achieve the same target by 2038. Bharat Petroleum Corporation Limited (BPCL) and gas utility company 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. .