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Page 14 - Ranjit Rath News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Indian oil firms explore using stranded USD 600 million to buy Russian oil

Indian oil firms explore using stranded USD 600 million to buy Russian oil
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net zero carbon: Oil India to invest Rs 25,000 crore for net zero by 2040

State-owned Oil India Ltd is planning to invest Rs 25,000 crore in clean energy projects to achieve its net zero carbon emission goal by 2040. The plans include reducing gas flaring, commercializing stranded gas, setting up renewable electricity generation capacity, building green hydrogen and biogas plants, and converting pipelines to flow gas.

Oil India plans to invest Rs 25,000 crore to achieve net-zero targets by 2040: CMD

Chairman and Managing Director Ranjit Rath said the company plans to invest in green hydrogen, compressed biogas plants and 2G ethanol.

Indian oil firms explore using stranded $600 million to buy Russian oil

Indian oil companies are considering using around $600 million of their dividend income from Russia to buy oil from the country. Due to tough Western sanctions following Russia s invasion of Ukraine, the companies have been unable to repatriate their dividend income. One option being explored is loaning the money to entities buying oil from Russia, who would then repay the loan in India. Indian state oil firms have invested $5.46 billion in buying stakes in four different assets in Russia, making Russia the top crude oil supplier to India.

Oil India Ltd Plans To Invest Rs 25,000 Cr In Clean Energy Projects

Oil India Ltd Plans To Invest Rs 25,000 Cr In Clean Energy Projects
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