ONGC's Rs 2 Lakh Crore Investment Plan for Net-Zero Carbon Emissions by 2038

Here's an article by The Hindu. According to it:

  • ONGC is set to invest Rs 2 lakh crore to achieve net-zero carbon emissions by 2038, focusing on renewable energy projects, green hydrogen, and eliminating gas flaring.
  • The investment will be directed towards solar and wind energy, green hydrogen, and offshore wind projects, alongside pump storage plants and other clean energy initiatives.
  • The company's oil and gas production in 2023-24 amounted to 21.14 million tonnes of oil and 20.648 billion cubic metres of gas. 

Here are some additional key insights to note from renewable energy investments:

  • The 2024-25 Interim Budget allocated Rs 600 crore for the National Green Hydrogen Mission, as reported by Mint
  • ExxonMobil plans to invest $15 billion in lower-emission energy solutions by 2027, according to fDi Intelligence
  • Brazil's Fuel of the Future program aims to unlock R200 billion ($40 billion) in financing for biofuels by 2037, according to a report by Argus

Decarbonization Avenues

  • Green hydrogen
  • Low Carbon Thermal Power
  • Wind Power
  • Energy Efficient Industrial Equipment
  • CO2 Capture & Storage

    • Industries

  • Oil & Gas

    • Keywords

  • ONGC Net-Zero Emission
  • ONGC Green Hydrogen

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