• 4 minutes Your idea of oil/gas prices next ten years
  • 7 minutes WTI Heading for $60
  • 13 minutes Could EVs Become Cheaper than ICE Cars by 2023?
  • 1 day Pence says South China Sea Doesn't Belong To Any One Nation
  • 2 days Anyone holding Nvidia stock?
  • 6 hours Is California becoming a National Security Risk to the U.S.?
  • 20 hours Why does US never need to have an oil production cut?
  • 2 days Germany Discusses Lifting Ban on Deporting Syrians
  • 2 hours US continues imports of Russian gas which it insists Europe should stop buying
  • 2 days UK Power and loss of power stations
  • 3 hours Pros and Cons of Coal
  • 7 hours Trump administration slaps sanctions on Saudis over Khashoggi's death
  • 2 days China Claims To Have Successfully Developed a Quantum Radar That Can Detect 'Invisible' Fighter Jets
  • 2 days I Believe I Can Fly: Proposed U.S. Space Force Budget Could Be Less Than $5 Billion
  • 2 days A Sane Take on Nord Stream 2
  • 22 hours Commission: U.S. Could Lose Wars With Russia, China
The World's Most Important Oil Region

The World's Most Important Oil Region

The Middle East remains crucial…

Trump Claims Victory As Oil Prices Plummet

Trump Claims Victory As Oil Prices Plummet

Oil prices have fallen over…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

India’s Largest Refiner Looks To Ditch Oil In Favor Of Renewables

Green

Indian Oil, its namesake country’s largest refiner, is preparing to diversify into green energy as New Delhi expands its plans to abandon fossil fuels in the coming years, according to emerging reports.

Existing refinery expansion plans will remain flexible to allow for cancellations, provided oil demand falls faster than anticipated, chairman Sanjiv Singh said in an interview this week.

Renewable energies are taking up larger share of the country’s energy mix, but the refining company plans on being relevant even after the end of oil.

“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. “Today, we talk about a demand estimate of about 450 million tonnes of refinery products by 2040. Probably as the time goes by, we will have to see whether all these predictions, which are based on several assumptions and parameters, are on the same predicted levels or need some correction. Accordingly, the (planned) refining capacity will also be adjusted if need be,” said Singh.

Singh’s counterparts in other Indian energy companies have similar views on the evolving nature of refiners’ core competency. Indian Oil’s other focus has been on increasing the market penetration of CNG-fueled personal and commercial vehicles, as well as building electric charging stations along major highways.

 “Companies need to have a strategy in place to mitigate risk (from the changing energy mix). Opening charging stations will help in this regard. However, electric mobility may gain currency only over several years due to its present constraints about availability of charging points, cost of battery and the range of distance that can be covered per charging,” said K. Ravichandran, senior vice-president, group head-corporate ratings, Icra Ltd.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Raj on December 07 2017 said:
    No one talks of most critical constraint of an EV car - Battery charging time Who wants to wait for 1+ hr to charge? Also, what happens to range when you are stuck in traffic in most large Indian cities?

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
-->