India's North-east Oil & Gas Sector Thrives as Nation Aims for 50% Renewable Energy by 2030
The North-east region of India, pioneered by Assam's Digboi oil discovery in 1901, has seen significant growth in its oil and gas sector. Meanwhile, India's commitment to renewable energy has surged, with ambitious targets set for the coming decades.
Numaligarh Refinery Limited (NRL) marked a remarkable year in 2020-21, achieving its highest-ever sales turnover, profits, and net worth. This success story is echoed by Reliance Industries, the anchor organisation of the Northeast's oil and gas sector, which recorded its highest revenues, profits, and net worth in 2021.
India's energy vision is equally impressive. It aims to meet 50% of its energy requirements from renewable sources by 2030, and to achieve 'Net Zero' emissions by 2070. The country has swiftly risen to become the world's 4th largest renewable energy producer. To support this transition, India targets reducing its carbon intensity by less than 45% by 2030 and increasing non-fossil fuel power generation by more than 25% in seven years. At COP26, India pledged to increase its non-fossil energy capacity to 500 GW by 2030 and reduce total projected carbon emissions by 1 billion tonnes from now until then.
In the North-east region, plans are afoot to boost oil production by 67% and gas production by 116% in the next four years.
The North-east region of India continues to build on its oil and gas legacy, while India as a whole is rapidly expanding its renewable energy capacity. These efforts, coupled with ambitious emission reduction targets, reflect the country's commitment to a sustainable energy future.
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