The country’s largest refiner Indian Oil Corp. Ltd is making a strategic shift to a less carbon-intensive future by getting into clean energy and related infrastructure, while keeping refinery expansion plans flexible for course correction, said chairman Sanjiv Singh in an interview.
What is pushing the state-run refiner to new markets is the rise of renewable energy sources in the country’s energy mix, which cuts down diesel use for power generation, and a possible adoption of electric vehicles by consumers in future. The refiner wants to be a part of the transformation in energy markets, not a victim of it.
“A lot of research going on in alternate fuels and alternate modes of transportation are funded by companies in the oil and gas business. It is a process in which all of us are involved,” said Singh. Read More
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