In India, the country’s national oil company Oil India Limited (OIL) has signed a ten-year agreement with The Energy and Resources Institute (TERI) to broaden the scope of their joint research to include Petroleum Biotechnology and New & Renewable Energy Sources. The two organizations have previously collaborated on algae research but this agreement will broaden opportunities for joint R&D.
“Though huge investments for R&D in the petroleum industry are ongoing, the area of biotechnology for sustainable energy production and environment restoration is incomplete and needs impetus,” said Nayan Mani Borah, Chairman and Managing Director, OIL.
