NET ZERO
BY
2040
OIL’s Vision Aligned with the Nation
Pioneering net-zero emissions energy company by 2040
Create Alternative Energy Portfolio
Increase share of gas in Energy portfolio
Adopt cleaner energy sources
Increasing investment in R&D, alternate energy and decarbonation technology.
Creating carbon sink
20% ethanol blending in petrol through NRL & 15% methanol blending through APL
Approx. Investment by 2040 Rs. 25,000 Crore
1.37 MMT CO2 eq
FY23
emissions
0.60 MMT CO2 eq
FY23
emissions
Net
Zero
FY40 emmission Target
~25% reduction
- Zero routine flaring
- Fugitive detection and quantification
2026
~95% reduction
- Zero routine flaring
- Zero fugitive emissions
- 100% consolidation of installation operations
- 100% rigs (incl. CH) running via DGB
- 100% Electrification of Installation Ops
- Pilot CCUS plant setup
2035
2030
~85% reduction
- Zero routine flaring
- Zero fugitive emissions
- 50% consolidation of targeted installations
- 100% of owned rigs installed with DGB
- Transmission line layout for electrification of operations complete; – 800 MW RE capacity installed
2040
100% reduction
- 1.1 GW of Renewable Energy
- 44 KT Green hydrogen with NRL
- 280 Million ltr/year Bioethanol
- 0.2 MMT CBG
- Pilot CCUS/CCS
- Pilot EOR projects Carbonated Water Injection CO2 injection