Indian Oil hits impressive biodiesel blending ratio, sets new benchmark by blending 23.24 crore litres of biodiesel
04/09/2024 (The Economics Times) - Indian Oil has achieved a notable industry milestone by blending 23.24 crore liters of biodiesel with regular diesel, reaching a 0.49 percent blending ratio, surpassing the 0.43 percent blending ratio of other oil marketing companies, data showed on September 4. This achievement is part of Indian Oil's broader efforts to promote sustainable energy.
For the current fiscal year, Indian Oil has already achieved a 0.73 percent biodiesel blending ratio. At the India Bio-Energy & Tech Expo 2024, Indian Oil was recognized for its significant contributions to India's biofuel advancements.
Indian Oil's accomplishment aligns with India's national goal of achieving 20 percent ethanol blending by 2025. Already, the company has surpassed 15 percent ethanol blending in its base petrol. The company has introduced E20 fuel, which contains 20 percent ethanol, at nearly 7,000 of its fuel stations across India, highlighting its efforts to increase the availability of green fuels.
Besides the progress in biodiesel, Indian Oil has also made strides in ethanol-based fuels. The company recently introduced India's first ETHANOL-100 fuel, now available at 400 fuel stations in Delhi, Uttar Pradesh, Maharashtra, Karnataka, and Tamil Nadu. Furthermore, Indian Oil has established India's first 2G ethanol plant and the world's first 3G ethanol plant in Panipat, further cementing its leadership in the biofuels sector.
Indian Oil was honored with the Biodiesel Association of India award for achieving the highest biodiesel blending during the fiscal year 2023-24. The award was presented by Nitin Gadkari, Minister of Road Transport and Highways, and Hardeep Singh Puri, Minister of Petroleum & Natural Gas, to V Satish Kumar, Chairman and Director (Marketing) of Indian Oil, at the India Bio-Energy & Tech Expo 2024 held in New Delhi on September 2, 2024.
Nitin Gadkari articulated an ambitious vision for India's bioenergy future, emphasizing a goal of reducing fossil fuel usage by 50 percent within the next five years.
He stated, "Biofuels are integral to achieving this goal and Indian Oil's contributions to the sector are commendable."
Hardeep Singh Puri praised Indian Oil's ongoing endeavors to advance India's bioenergy sector.
He remarked, "Indian Oil's steadfast commitment to the bioenergy sector is impressive. The government's target is to achieve 20 percent ethanol blending in petrol, and we urge the automobile industry to expedite the development of vehicles compatible with E100 fuel."
Indian Oil's achievements underscore its dedication to promoting renewable energy and reducing reliance on fossil fuels. By making significant strides in both biodiesel and ethanol blending, Indian Oil supports national energy goals and sets a benchmark for other companies in the industry.