RIL gets ‘carbon-neutral oil from US in effort to go carbon-neutral by 2035

Reliance Industries Limited (RIL) has managed to get the world’s first delivery of ‘carbon-neutral’ oil from the United States. The company plans to go carbon-neutral by 2035.

RIL also owns the world’s largest oil refining company in Gujarat with 68.2 million tonnes of oil being produced every year. They bagged a deal of 2 million barrels from Premian basin. The carbon-neutral oil was given to RIL by Oxy Low Carbon Ventures, a part of a major US oil company named Occidental. The company said in a statement, “This transaction, which was arranged in conjunction with Macquarie Group Commodities and Global Markets Group (Macquarie), is the energy industry’s first major shipment for which greenhouse gases (GHGs) emissions associated with the entire crude lifecycle, well head through combustion of end products, has been offset.”

Mukesh Ambani who owns RIL announced plans to go carbon-neutral by 2035.

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