India's top oil and gas producer, ONGC, plans to establish two oil-to-chemical plants in India to convert crude oil directly to high-value chemical products, as the company prepares for the energy transition. The production of chemicals using crude oil is regarded as a new avenue since companies worldwide are looking for alternatives as the world gradually moves away from fossil fuels. The International Energy Agency (IEA) claims that the petrochemical industry will contribute to over a third of the increase in oil demand by 2030.