Bio Fuels To Positively Impact Crude Oil Import Bills Of India

9 Dec 2022 , 10:47 AM

The Public Sector Oil Marketing Companies (OMCs) have procured 385.92 crore litres of ethanol up to 15th November, 2022 for blending in petrol during the Ethanol Supply Year (ESY) 2021-22 (ESY: 1st December to 30th November) and 5.83 crore litres of bio-diesel for blending with diesel during the financial year 2022-23. The Oil and Gas Marketing Companies (OGMCs) have issued 3694 Letters of Intent (LoIs) to potential entrepreneurs for procurement of Compressed Bio Gas (CBG) up to 31st October, 2022. Ethanol Blending in Petrol up to 15th November, 2022 during the ESY 2021-22 is estimated to have had an impact of over Rs.20,000 crore on the import bill of crude oil and petroleum products. Government has notified Pradhan Mantri JI-VAN (Jaiv Indhan – Vatavaran Anukool fasal awashesh Nivaran) Yojana for promoting Second Generation (2G) ethanol production from cellulosic and lignocellulosic including petrochemical route in the country by providing financial support. Oil Central Public Sector Enterprises (CPSEs) are setting up Second Generation (2G) ethanol bio-refineries in the country. 2G ethanol plant at Panipat (Haryana) has been set up and dedicated to the Nation by the Honble Prime Minister on 10.08.2022. Plants at Bathinda (Punjab), Bargarh (Odisha), Numaligarh (Assam) are in advanced stages of construction.Powered by Capital Market – Live News