It is a well known fact that we don’t have adequate oil Gas reserves in India. so exploration and digging may be often seen as a waste. it is like squeezing a dry towel to get water…Even oil Gas reserves in Middle East is not going to last longer- to get exhausted by 2050.
So, these 70 years old Navaratna PSU’s like ONGC & Oil India are not going to close down their shutters overnight. NTPC & Coal India are not going to close down its shutters just because coal is producing heavy carbons.
These companies are heavily investing in to renewable sources of energy in all possible forms , Solar, Wind, Syn Gas through coal gasification route , Carbon capture and a series of chemicals of utility from syn gas. And other renewables such as CBG, LBG, Green hydrogen , Green Ammonia etc to name a few.
So if I buy in to oil india , ONGC , NTPC, Coal India …it is not for its business of fossil fuels …I am looking in to these companies from a 5-10 years perspective for the energy transition which have already started and these are the govt backed PSU”s those have financial muscle power to spend heavy capex and benefit from energy transition.
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