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IN PIVOT TOWARDS ENERGY TRANSITION
India's top oil and gas producer ONGC is planning to set up two oil-to-chemical plants in India to convert crude oil directly into high-value chemical products as it prepares for energy transition that is shaking up the industry worldwide, hairman Arun Kumar Singh said.
Crude oil, which companies like ONGC pump out from below seabed and from underground reservoirs, is a primary source of energy. It is processed in oil refineries to produce petrol, diesel and jet fuel. With the world looking to transition away from fossil fuel, companies around the globe are looking at new avenues to use crude oil.
Petrochemicals are chemical products derived from crude oil and are used in the manufacturing of detergents, fibres (polyester, nylon, acrylic etc.), polythene and other man-made plastics.
This story is from the August 07, 2023 edition of Millennium Post Delhi.
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This story is from the August 07, 2023 edition of Millennium Post Delhi.
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