ONGC puts $12.1 bln towards net-zero ambitions
India The plan will see the company phase out its scope 1 and scope 2 emissions.
ONGC plans to invest in solar, wind and green ammonia production to achieve its goals.
The company has set a target to have 10 GW of renewable energy capacity by 2030 from its current 189 MW.
The NOC is currently developing a green ammonia plant with a capacity of 1 million tonnes per year with local renewables developer Greenko, which is expected to come on line in 2026.
Other Indian energy giants have also set targets to achieving net-zero emissions, including Indian Oil Company by 2046, Bharat Petroleum Corporation and Hindustan Petroleum Corporation by 2040 and Reliance Industries by 2035.
The Indian government has set a target to achieve net-zero carbon emissions nationally by 2070.
Recent Posts
Seatrium wins yet more FPSO work in Guyana
Seatrium has been awarded a contract by SBM Offshore for the topsides fabrication and integration of an additional FPSO vessel… Read More
Diamond Offshore seals $350-million Gulf of Mexico deal
Diamond Offshore has secured a USD 350-million extension for an ultra-deepwater drillship deployed for Anadarko Petroleum in the US Gulf… Read More
ExxonMobil makes deepwater discovery off Angola
ExxonMobil has made a discovery in the Angolan deepwater, the country's energy regulator announced on Monday Read More
TechnipFMC wins Woodside EPCI contract in Australia
TechnipFMC has been awarded an EPCI contract worth up to USD 250 million by Woodside Energy to fabricate and install… Read More
Hungary’s Mol Nyrt launches $1.4-billion polyol plant
Hungarian refiner Mol Nyrt has inaugurated a USD 1 Read More
UAE’s Mubadala Energy makes major gas find off Indonesia
Mubadala Energy has made a major deepwater gas find off Indonesia with a potential of at least 56 Read More