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]

Core Viewpoint - The annual import volume of low-carbon or "clean" ammonia in Japan is expected to be below 2 million tons by 2030 due to a slowdown in the global energy transition process [1] Group 1: Demand Forecast - The demand for clean ammonia in Japan has been revised downwards, with expectations of it being below 2 million tons per year by 2030 due to rising construction costs, yen depreciation, and extended construction periods [1] - Despite the revised demand outlook, the application momentum for clean fuels is accelerating, with the power, industrial, and maritime sectors anticipated to be the main drivers of demand growth [1] - It is expected that the demand for clean ammonia in the power, industrial, and shipping sectors will steadily increase after 2030 [1] Group 2: Government Support - Japan has allocated 3 trillion yen through a price difference contract mechanism to support the price gap between renewable hydrogen and traditional fuels as part of the Hydrogen Society Promotion Act [1]