IOC bets big on green hydrogen

As part of a decarbonization initiative, Indian Oil Corporation (IOC) aims to replace at least ten percent of its present fossil-fuel-based hydrogen at its refineries with carbon-free green hydrogen.

IOC stated in its most recent annual report that the nation’s largest oil company will install green hydrogen reactors at its Panipat and Mathura refineries. “The corporation is entering into green hydrogen production and aims to create 5 percent green hydrogen by 2027-28 and 10 percent green hydrogen by 2029-30,” it stated. Hydrogen is the cleanest energy source known, yet its pure form is extremely rare on Earth. It is either bonded to oxygen in water or to carbon in hydrocarbons such as fossil fuels.

Hydrogen’s utility improves as it is separated from other elements: it can be transformed into energy through fuel cells, burned to produce heat or power without emitting carbon dioxide, used as a chemical feedstock, or as a reducing agent to reduce iron ores to pure iron for steel manufacture. The majority of hydrogen produced today is produced from fossil fuels and carbon emissions.

Electrolysis powered by renewable energy is used to divide water molecules into oxygen and hydrogen, resulting in an emission-free fuel. As part of its decarbonization initiative, IOC aims to replace hydrogen derived from unrestricted fossil fuels with green hydrogen.