The Maharatna PSU Indian Oil Corporation Limited (Indian Oil) has recently been honoured with the prestigious Biodiesel Association of India award for achieving the highest biodiesel blending during FY 2023-24. The award has been presented by the Union Minister of Road Transport and Highways, Mr. Nitin Gadkari and the Union Minister of Petroleum & Natural Gas, Mr. Hardeep Singh Puri to Indian Oil’s Chairman & Director (Marketing), Mr. V Satish Kumar at the India Bio-Energy & Tech Expo 2024 in New Delhi on September 2nd.
Indian Oil set a new benchmark by blending 23.24 crore litres of biodiesel with regular diesel, achieving a record blending ratio of 0.49%, surpassing the 0.43% overall blending achieved by other Oil Marketing Companies (OMCs). Presently, the PSU has achieved a 0.73% biodiesel blending ratio.
In his inaugural speech, Mr. Gadkari set forth an ambitious vision for the future of bioenergy in India, targeting a reduction in fossil fuel usage by 50% within the next five years. Minister Puri, in his address, lauded IndianOil’s steadfast commitment to advancing India’s bioenergy sector. He emphasised the government’s ongoing efforts to achieve 20% ethanol blending in petrol, urging the automobile industry to accelerate the development of E100-compatible vehicles.
This recognition underscores Indian Oil’s leadership in leading India’s biofuel revolution. The company has already achieved over 15% ethanol blending in its base petrol, aligning with the national goal of 20% ethanol blending by 2025. The E20 fuel is now available at nearly 7,000 Indian Oil fuel stations nationwide.
It is crucial to mention that Indian Oil has introduced India’s first ETHANOL-100 fuel — now available at 400 fuel stations across Delhi, Uttar Pradesh, Maharashtra, Karnataka, and Tamil Nadu, a feat lauded by both Ministers. The state-owned giant has also set benchmarks by establishing India’s first 2G ethanol plant and the world’s first 3G ethanol plant at Panipat — a testament to its relentless pursuit of environmental stewardship and innovation.
