New Delhi, Union Petroleum Minister Hardeep Singh Puri announced substantial savings through ethanol blending, emphasizing its positive impact on foreign exchange and carbon emissions. The blending of ethanol into petrol resulted in savings exceeding ₹24,300 crore in foreign exchange during the 2022-23 supply year. Public sector oil marketing companies saved approximately 509 crore litres of petrol due to ethanol blending, alongside facilitating prompt payments of ₹19,300 crore to farmers.
Puri highlighted that this initiative contributed to a net reduction of 108 lakh metric tonnes of carbon dioxide during the period. Oil companies recently introduced incentives for ethanol production from C-heavy molasses, aiming to boost ethanol production and enhance availability for the blended petrol program.
India, having already introduced 20% blended fuel in April 2023, targets 20% ethanol-blended petrol by 2024-25 and 30% by 2029-30, advancing the E20 fuel target from 2030 to 2025. The initiative aims to reduce oil import costs, enhance energy security, lower carbon emissions, and improve air quality.
The number of retail outlets offering E20 fuel has surpassed 9,300 and is expected to cover the entire country by 2025. Puri emphasized India’s global leadership in the Biofuels supply chain, citing the launch of the Global Biofuels Alliance in September 2023.
During the COP28 conference in December 2023, Puri outlined India’s steps to increase the share of natural gas in the primary energy mix, projecting a $67 billion investment in natural gas infrastructure over the next 5-6 years.
By ANI
