Speaking in a fireside chat with The Hindu senior deputy editor N. Ravikumar, Shankar said compressed bio‑gas (CBG) and sustainable aviation fuel (SAF) are the next energy avenues CPCL intends to explore, positioning the company as a participant in India’s broader renewable‑energy growth journey.
He highlighted a recent milestone in the automobile sector: in August, registrations of renewable‑powered, hybrid electric and CNG vehicles surpassed those of conventional hydrocarbon‑fuel cars, signalling a shift that is first evident in two‑ and three‑wheelers but will eventually affect larger modes of transport.
While acknowledging the current impact on smaller vehicles, Shankar asserted that refineries will continue to thrive, but their output will transition from a fuel‑centric to a petrochemical‑centric mix to meet evolving customer needs.
At CPCL’s Manali refinery, the company is already building infrastructure to import green power directly and has begun using renewable energy in its day‑to‑day operations, a step he described as preparation for a fossil‑to‑renewable transition in processing requirements.
In Nagapattinam, where CPCL holds a joint venture with Indian Oil Corporation Limited, the original plan for a nine‑million‑tonne‑per‑annum refinery and a modest polypropylene unit is being reconsidered; Shankar said the internal rate of return now points to moving directly into the petrochemical sector.
The recent grant of Navratna status, he explained, gives CPCL’s board unrestricted authority to sanction projects and greater flexibility to form joint ventures, removing the previous requirement for proposals above ₹500 crore to be cleared by IOCL. This autonomy, however, brings heightened responsibility and the need for rigorous due‑diligence.
Shankar concluded that CPCL is ready to shoulder the added accountability and to leverage its new powers to support India’s energy transition while safeguarding stakeholder interests.