India’s top oil refiner is exploring the use of natural gas and electricity to power vehicles as Prime Minister Narendra Modi’s government envisions multiple paths toward reducing the country’s dependence on petroleum-based fuels.
Indian Oil Corp., which supplies about half the oil products to the world’s fastest-growing consumer, is aiming to sell natural gas for vehicles through its existing retail network and has formed teams to research concepts to power electric vehicles, build fuel cells and make different types of fuels including biofuels, according to its chairman.
“We don’t know the kind of energy we’ll have 15 years down the line, but we know we have to be fast and we have a firm plan on how aggressive we will be,’’ Sanjiv Singh said in an interview. “We will be part of the change.’’ Read More…
Credit By: ET
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