New Delhi: Oil India Limited (OIL), a Maharatna CPSE and a major player in crude oil and natural gas exploration and production, has reaffirmed its commitment to sustainable energy by becoming a member of the Oil and Gas Decarbonization Charter (OGDC). This move highlights the company’s focus on reducing carbon emissions and eliminating flaring practices, as part of its broader strategy to contribute to a greener future.

In a regulatory filing, Oil India stated that joining the OGDC is a crucial milestone in its decarbonization journey, putting it on track to achieve its Net Zero target by 2040. The OGDC, launched during COP28 in 2023, aims to bring together the global oil and gas industry to reduce greenhouse gas emissions. With over 50 leading oil and gas companies as members, the charter represents a united front in tackling climate change. By joining, Oil India aligns itself with global best practices, further solidifying its commitment to environmental sustainability, operational efficiency, and continued investment in research and development.

In August, Oil India’s management discussed the ongoing expansion of the Numaligarh refinery in Assam, a joint venture with Bharat Petroleum Corporation and the Assam government. This project, expected to be completed by December 2025, will boost the refinery’s capacity from 3 million tonnes per annum to 9 million tonnes.

Additionally, the company reported a 6 per cent increase in crude oil production in the first quarter of the fiscal year, along with a 10 per cent rise in natural gas production compared to the previous quarter. These developments reflect Oil India’s continued efforts to expand its operations while maintaining its sustainability goals. /BI