THE ENERGY INTERVIEW
But what does this mean for energy security in India? Arvinder splits this into three distinct sections:
• Petrochemical expansion: IndianOil is significantly increasing its petrochemical production capacity from four million tonnes – making it the second-largest Indian player right now – to 15 million tonnes by 2030. This serves as a hedge against fluctuations in international oil prices, as well as allowing for the diversification of the company ' s portfolio.
About IndianOil
As a multifaceted and integrated energy major, IndianOil spans a broad spectrum of sectors, including oil, gas, petrochemicals and alternative energy sources. It is expanding its footprint through initiatives like renewable energy projects, greening its supply chain and investing in electric mobility and hydrogen technologies.
IndianOil operates in several countries beyond India, including Nepal, Sri Lanka, the Maldives and the Middle East, with subsidiaries in Sri Lanka, Mauritius and the UAE.
• Renewable energy growth: IndianOil aims to increase its renewable energy capacity from less than 1GW to 30GW by 2030. This expansion into renewables helps reduce dependence on imported crude oil.“ That is the target that we have taken upon ourselves and one we are very confident that we will meet,” Arvinder says.
• Biofuel development: The company is focusing on bioenergy, particularly ethanol blending in gasoline. It has already achieved a more than 19 % ethanol blend and is considering options to go beyond a 20 % target, contributing to reducing reliance on fossil fuel imports.
“ We’ re considering this as oil companies together,” he continues.“ Along with the Ministry, we are coming together to think about what to do. It ' ll be a decision that will be taken collectively.”
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