IOC targets to replace fossil fuels with green hydrogen for decarbonization drive

Indian Oil Corporation (IOC) is targeting to replace at least a tenth of its current fossil-fuel-based hydrogen at its refineries with carbon-free green hydrogen as part of a decarbonization drive.

The nation’s largest oil firm is setting up green hydrogen plants at its Panipat and Mathura refineries, IOC said in its latest annual report.

The company is venturing into green hydrogen production and is targeting 5 per cent of hydrogen produced by it as green hydrogen by 2027-28 and 10 per cent by 2029-30.

As part of its decarbonization drive, IOC is looking to replace hydrogen made by unabated fossil fuels with green hydrogen.