Indian Oil Corporation Ltd. (IOCL) sent its first tanker of ethanol-blended petrol (EBP) to Port Blair.
Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, recently posted on his social media platform, stating, “A momentous day for India’s Green Energy Transition under leadership of Prime Minister Narendra Modi. IOCL’s first tanker of Ethanol Blended Petrol sets sail for Port Blair from Haldia. India has also achieved the target of 12% blending on 31 October.”
“More than 15 crore ltrs of blended fuel has already been sold across more than 6000 bunks in India. With the tanker sailing to Port Blair, blended fuel availability now covers the entire country,” he further added.
A momentous day for India’s Green Energy Transition under leadership of PM @narendramodi Ji.@IndianOilcl’s first tanker of Ethanol Blended Petrol sets sail for Port Blair from Haldia!
India has also achieved the target of 12% blending on 31 October!@PMOIndia pic.twitter.com/B8sN3u9VpK— Hardeep Singh Puri (@HardeepSPuri) November 1, 2023
India has achieved its target of 12 per cent ethanol blending with petrol. In the Ethanol Supply Year 2022–23 (December 2022–October 2023), the government had set a target of achieving a 12 per cent ethanol blending with petrol. The target for the next year, Ethanol Supply Year 2023–24 (November 2023–October 2024), has been set at 15 per cent.
Recently, Oil Marketing Companies (OMCs) had invited bids for supply of around 825 crore litres of Denatured Anhydrous Ethanol for ESY 2023-24. This will help to boost the ethanol production in country.
The Indian government is leaving no stone unturned to boost ethanol production to ensure it achieves a 20 percent ethanol blending target by 2025. The government has announced various initiatives and measures to encourage biofuel production.
In last few years, India has actively promoted ethanol production, yielding substantial benefits for the country. By blending ethanol into petrol, India has saved billions of rupees in foreign exchange. The industry in India has been persistently urging for an increase in ethanol prices, and it may soon see an upward revision.
