Indian Oil Corporation (IOCL), India’s largest oil-marketing company, has business plans to develop a nationwide network of green hydrogen fuel dispensing stations as part of its USD 30 billion strategy to achieve net-zero emissions by 2046.

Chairman Arvinder Singh Sahney confirmed that IOC will begin by replacing grey hydrogen with green hydrogen at its refineries, before expanding to serve mobility demands. The plan includes retailing green hydrogen fuel from its upcoming 10,000-tonne-per-annum plant at Panipat refinery, set to be commissioned by December 2026. Currently, India has only three to four dispensing stations, with IOC operating two. The Chairman highlighted the importance of building an ecosystem to support green hydrogen-fueled transport.

The plant in Panipat will be the country’s largest, producing green hydrogen at USD 4.66 per kg, below the government’s USD five/kg target. IOCL is also open to export opportunities, aligning with India’s National Green Hydrogen Mission.