Little prospect of Russia oil deal
Moscow reluctant to agree on $60 price cap; delegation arriving for talks
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Moscow reluctant to agree on $60 price cap; delegation arriving for talks
India's top oil and gas producer, ONGC, plans to invest approximately Rs 1 lakh crore in establishing two petrochemical plants to directly convert crude oil into high-value chemical products. This initiative aligns with the global shift away from fossil fuels, with ONGC targeting the production of chemicals that are crucial for manufacturing detergents, fibers, plastics, and pharmaceuticals.
With the world looking to transition away from fossil fuels, companies around the globe are looking at new avenues to use crude oil.
India's top oil and gas producer, ONGC, plans to invest approximately INR 1 lakh crore in establishing two petrochemical plants to directly convert crude oil into high-value chemical products. This initiative aligns with the global shift away from fossil fuels, with ONGC targeting the production of chemicals that are crucial for manufacturing detergents, fibers, plastics, and pharmaceuticals.
Company says plan is to raise petrochemical capacity to 8.5-9 million tonnes by 2030