Targeting Net Zero Carbon Emissions by 2040
Oil India plans a substantial investment of Rs 16,500 crore to attain net zero carbon emissions by 2040, signalling a strong commitment to sustainability
The company intends to allocate about Rs 9,000 crore for solar and onshore wind energy projects, Rs 3,000 crore for green hydrogen, and Rs 1,000 crore for carbon capture, utilization, and storage initiatives.
Oil India joins other public sector energy giants like Indian Oil Corporation, Bharat Petroleum, Hindustan Petroleum, Gas Authority of India, and Oil and Natural Gas Corporation in pursuing net zero carbon emissions, with a combined investment plan of Rs 6.38 trillion
In response to this news, Oil India's stock price saw a 2% increase, with shares trading at Rs 285.95 on the National Stock Exchange.