Oil India has signed Memorandum of Understanding (MoU) with The Fertilisers and Chemicals Travancore (FACT), a public sector company, on February 22, 2024 at its Corporate Office, Noida to explore opportunities in the domain of Green Hydrogen, including Green Ammonia / Green Methanol and other derivatives; to collaborate in decarbonizing initiatives like carbon dioxide sequestration; and to collaborate in any other potential avenues for decarbonization / clean energy transition / green fuels / renewable energy etc. that may present synergy between the parties and serve common business interests.
Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.
