ONGC plans two crude oil to chemical projects

Oil and Natural Gas Corporation Limited (ONGC) is planning to set up two greenfield oil-to-chemical projects in the country for converting crude oil to high-value chemical products. ONGC plans to collaborate with entities and explore opportunities in the fields of oil-to-chemicals, refining and petrochemicals. In a separate development, ONGC is planning to invest Rs 2 trillion in clean energy projects to meet its 2038 net-zero carbon emissions goals. The company plans to invest Rs 1 trillion by 2030, where it targets to own 10 GW of renewable energy capacity. The company aims to boost its hydrocarbon output along with strengthening its presence in the clean energy sector. Besides, ONGC is also looking for a partner to set up a 1 million tonnes per annum (mtpa) green ammonia project.