Petroleum Minister Hardeep Singh Puri. (Photo | A Sanesh)
Petroleum Minister Hardeep Singh Puri. (Photo | A Sanesh)

India will contribute 25 per cent of global demand of ethanol by 2040: Petroleum Minister

The minister further said India increased the number of its crude oil suppliers from 27 countries in 2006-07 to 39 in 2021-22, adding new suppliers like Columbia, Russia, Libya, etc.,

NEW DELHI: India will contribute 25% of global demand by 2040 and achieve 20% ethanol blending in petrol by 2025 said Petroleum Minister Hardeep Singh Puri. While elaborating India's 4-plank energy security strategy, which is based on diversifying supplies, increasing E&P, alternate energy sources and energy transition through a gas-based economy, Green Hydrogen etc, the minister said India increased the ethanol blending in petrol from 1.53% in 2013-14 to 10.17% in 2022 and advanced its target to achieve 20% ethanol blending in petrol from 2030 to 2025-26.

“The phased rollout of E20 will commence on 1st April 2023. The Govt. is also setting up five 2G ethanol biorefineries in the country at Panipat (Parali) in Haryana, Bathinda in Punjab, Bargarh (Parali) in Odisha, Numaligarh (Bamboo) in Assam and Devangere in Karnataka,” said Puri.

The minister further said India increased the number of its crude oil suppliers from 27 countries in 2006-07 to 39 in 2021-22, adding new suppliers like Columbia, Russia, Libya, Gabon, Equatorial Guinea etc., while strengthening our relationship with countries like US and Russia.

"Diesel prices, which in India between December 2021 and December 2022 rose by only 3%, went up by 34% in the USA, 36% in Canada, 25% in Spain and 10% in the UK,” he added.

There was a massive impact due to the Central excise cuts announced by the Prime Minister in May 2022 and November 2021, amounting to Rs. 13 per litre of petrol and Rs.15 per litre on diesel cumulatively, along with significant VAT rate cuts by many Indian states.

Puri said government intends to increase India's exploration acreage to 0.5 million sq. km. by 2025 and 1.0 million sq. km. by 2030. The Centre has also increased the rate for Compressed Biogas (CBG) plants under the SATAT scheme from Rs. 46/kg to Rs. 54/kg and is taking steps to ensure bio manure produced during CBG production is bundled with fertilizers like urea.

India is investing Rs.19,744 crores into the National Green Hydrogen Mission for developing green hydrogen production capacity of at least 5 MMT (Million Metric Tonnes) per annum. 

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