Petroleum Minister Dharmendra Pradhan will soon chair a high-level meeting on Ethanol Blended Petrol (EBP) Programme. Representatives of Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation are likely to attend the meeting, sources told ET Now.
"The meeting is likely to be conducted next week during which the minister will review Ethanol production timeline, costs and storage capacity issues with oil marketing companies," sources told ET Now.
The government is aiming to achieve the 10 percent ethanol blending target by 2022, sources told the channel.
Moneycontrol could not independently verify the report.
Ethanol blending in India reached more than 7.2 percent in the first four months of the ethanol supply year 2020-21 (December to November). This is the first time it has reached this level.
In states like Goa, Karnataka, Maharashtra, Gujarat, Uttar Pradesh, Haryana, Punjab, Delhi, Uttarakhand, and Himachal Pradesh (and Daman and Diu, a Union Territory), 9.5-10 percent ethanol is being blended with petrol.
As per the National Policy on Biofuels 2018, the government set a target of 20 percent ethanol blending by 2030. This is done to reduce dependence on imported fuel and reduce the impact on foreign exchange since ethanol is to be procured domestically.
Though the companies had a mandate of blending it up to 10 percent, the programme was moving at a slow pace.
In 2013-14, the percentage of ethanol-blended petrol was 1.53 percent, which increased to 5 percent in the ethanol supply year (ESY-December to November) 2019-20.
This further increased to 6.9 percent in 2020-21.
For ESY 2020-21, the OMCs have allocated 325.5 crore litres of ethanol up to March 1 against a requirement of 457 crore litres for ESY 2020-21.
Source : https://www.msn.com/en-in/money/topstories/petroleum-minister-dharmendra-pradhan-to-hold-review-meet-on-ethanol-blending-programme-timeline-report/ar-BB1fqjFk
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