Core Insights - Renewable hydrogen is expected to become a core component of Indian Oil Corporation's (IOC) new energy business portfolio, aligning with the Indian government's vision to establish the country as a global hydrogen market leader [1] - IOC aims to significantly increase its renewable hydrogen production capacity, targeting 500 GW of non-fossil energy installed capacity by 2030, while also focusing on biofuels and renewable energy [1] - The company plans to achieve net-zero emissions by 2046 and increase its contribution to India's energy sector from approximately 9% to 12.5% by 2050 [1] Strategic Focus - IOC's strategy includes three main areas: enhancing core refining and petrochemical capacity, diversifying into natural gas and renewable energy, and expanding the application scale of next-generation fuels [1] - Decarbonizing the refining business is a top priority for IOC, with specific reduction pathways including upgrading energy efficiency technologies, transitioning from liquid fuels to natural gas, integrating renewable energy with compressed biogas, improving grid electricity usage, and utilizing renewable hydrogen [1] Renewable Hydrogen Initiatives - IOC is actively promoting the development of India's green hydrogen ecosystem, with a renewable hydrogen plant in Panipat set to produce 10,000 tons annually, and plans to increase green hydrogen production to 350,000 tons by 2030 [1] - The company is also supporting India's "National Green Hydrogen Mission" through pilot projects and infrastructure investments, with additional renewable hydrogen projects planned in Gujarat, Uttar Pradesh, and Kerala, expected to yield a total annual output of approximately 28,365 tons [1]