India's Ethanol Blending Success and Hydrogen Future
Key Ideas
  • Union Minister Puri announced India's success in saving Rs 91,000 crore on fossil fuel imports through ethanol blending, advancing the blending target to 20% by 2025.
  • Puri emphasized the importance of green hydrogen as the 'fuel of the future' and highlighted India's role in becoming a major hub for electrolyser manufacturing.
  • India's untapped oil exploration potential was discussed, with Puri mentioning the opening of previously restricted areas for exploration and engagement with global oil majors for policy reforms.
  • Efforts to address concerns of oil companies through policy changes are underway, with plans to table regulatory framework reforms in the upcoming parliamentary session.
Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, shared insights on India's achievements in ethanol blending during the FT Energy Transition Summit India in New Delhi. Puri mentioned that India is set to achieve the 20% blending target by 2025, five years earlier than the initial goal of 2030, leading to savings of Rs 91,000 crore on fossil fuel imports. He debunked concerns about car parts wear and tear at higher blending levels, stating that adjustments could be made economically. Puri also highlighted the success of green hydrogen, labeling it as the 'fuel of the future' and echoing the global interest in India as an electrolyser manufacturing hub. Additionally, he discussed India's potential in offshore oil exploration, comparing it to discoveries in Guyana, emphasizing the government's efforts in policy reforms and engagement with oil majors. Plans to introduce policy changes to address industry concerns were outlined to be presented in the upcoming parliamentary session.
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