The Managing Director of the Chennai Petroleum Corporation Limited (CPCL) H. Shankar on Wednesday (September 23, 2026) said the company was looking at how it could be a part of the growth journey in renewable energy. “CBG (compressed bio-gas) is fuel that can be a good form of energy we can invest in. With SAF (sustainable aviation fuel), we can be a part of sustainability in aviation fuel,” Mr. Shankar said at a fireside chat during the CPCL- Sustainability Summit 2026 with ’s senior deputy editor N. Ravikumar.

This past August has been a very important milestone in the automobile sector, with more renewable, hybrid EV (electric vehicles) and CNG (compressed natural gas) vehicles registered than vehicles using hydrocarbon derivatives as fuel, Mr. Shankar said.

“We are watching the transition that is happening now. Although the impact is more on on two- and three-wheelers, it’s only a matter of time before it (renewable energy) really changes the larger means of transportation also. Refineries will continue to thrive despite the shift in automobiles from fossil-based fuels to renewable energy. We will change our refining from a fuel-based one to a petrochemical-based one, according to the needs of our customers,” Mr. Shankar said.

Speaking of CPCL’s refinery at Manali, Mr. Shankar said the company was building its own infrastructure requirements for importing green power directly, and had started using green energy in its day-to-day operations. “So, this is how we are preparing ourselves also for the transition from fossil fuel to renewable energy as a means of energy supply for processing requirements,” he said.

At Nagapattinam, where CPCL is in a joint venture with Indian Oil Corporation Limited (IOCL) and had originally proposed a nine-million tonnes per annum refinery, and a small component of polypropylene with petrochemical feedstock, the company is taking an alternative route. “Looking at the the internal rate of return that is accruing from the project, we are looking at the opportunity to move into the petrochemical sector directly,” Mr. Shankar said.

On the company being accorded ‘Navratna’ status, Mr. Shankar said it was a recognition from the Government of India, which came with a lot of benefits, and also a lot of responsibility and accountability. “Our board has now the authority to sanction the approval of projects without any limit on a standalone basis. We also have lot of flexibility with respect to the formation of joint ventures to move forward,” he said.

“Earlier our proposals for ₹500 crore and above would go to IOCL for further approvals. Now, the whole power rests with us. So, we have to do our own due diligence thoroughly because whatever we do now, it goes directly into the execution mode. And our accountability to stakeholders also increases manifold,” Mr. Shankar said, adding, “So, I would say this status comes with lot of responsibility, and we are we are ready for that.”

The summit is supported by Chennai Petroleum Corporation Limited (CPCL) as the Presenting Partner, with NLC India Limited, Larsen & Toubro (L&T), Navin’s, WABAG, Tamil Nadu Newsprint and Papers Limited, Indian Bank, Urbando and State Bank of India as Associate Partners.

The summit’s sustainability-focused partnerships include Thermax as the Sustainable Cooling Partner, Treeni as the Sustainability Intelligence Partner, Chennai Port Authority as the Blue Economy Partner and Tamil Nadu Green Climate Company as the Climate Action Partner.

Mangaldeep is the Fragrance Partner, Puthiya Thalaimurai the TV Partner, The Federal the Digital TV Partner and Communitree the NGO Partner.