India Scraps Funding for Refiners’ Decarbonization in 2024/2025

As India is looking to reduce its budget deficit, the government doesn’t plan to allocate any funds in the 2024/2025 budget to help some of its biggest state oil refiners meet their net-zero operations targets. In the middle of last year, India’s government asked some of the biggest state oil refiners to launch rights issues with which the authorities planned to help fund the firms’ net-zero and energy transition goals.  The government was seeking equity in Indian Oil Corp and Bharat Petroleum Corporation…