Mukesh Ambani, chairman and managing director, Reliance Industries Ltd (RIL) today laid out ambitious plans in new technology in fuel and energy distribution, using new technology and unconventional production services. Mukesh Ambani said that his telecom service Jio will have a part to play in the disruptive energy products that it plans do develop with global oil giant BP PLC.
Mukesh Ambani used four new buzzwords in his press conference today along with BP chief executive officer Bob Dudley. The two companies will expand their existing partnership for strategic cooperation on new opportunities across India’s energy sector, he said. Under the agreement, the two companies will jointly explore options to develop differentiated fuels, mobility and advanced low-carbon energy businesses in India, as India transitions to a low-carbon world, he added.
Here are the four new buzzwords Ambani used, which may revolutionise your lifestyle if they fructify:
Differentiated fuels are based on two components — base fuels and additives. The choice of base fuel is determined by a number of key aspects such as the research octane number. High octane enables a high compression ratio which in turn enables better fuel efficiency. Additives, on the other hand, are chemical compounds that, when added, improve some performance parameters such as detergency, friction reduction, etc.
Advanced Low Carbon Fuel
Low carbon fuel is one that confirms to a low-carbon fuel standard (LCFS), which is a rule enacted to reduce carbon intensity in transportation fuels as compared to conventional petroleum fuels, such as gasoline and diesel. The most common low-carbon fuels are alternative fuels and cleaner fossil fuels, such as natural gas (CNG and LPG).
The energy internet is a vast network that efficiently supplies electricity to anyone, anywhere. The digital age will allow such a system to be decentralized, efficient, and reliable. “We will bring the assets and infrastructure of Jio to create an engery internet with a distributed frawmework,” Ambani said.
Ambani was talking about driver-less cars. These self-driving cars are being worked upon by auto majors such as Google and Uber. By the year 2040, driver-less cars can reduce vehicle ownership by upto 50%, a Barclay’s research report said. The report adds that each shared driverless car could replace as many as 7 traditional vehicles and may greatly reduce CO2 emissions. Therefore shared autonomous driving vehicles could significantly disrupt annual conventional car sales.
(Originally published on Thursday, June 15 on www.financialexpress.com)