The state fuel retailers in India are ready to offer monetary relief to sugar mills and other producers of ethanol to compensate for high energy costs. The objective behind this step from oil companies is to boost biofuel production.
The Indian government fixes the ethanol purchase prices for fuel retailers – Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp – every marketing year.
The three state fuel retailers have announced the ‘relief scheme’ for June 1 to Nov. 30. The fuel retailers have announced they will pay extra to ethanol manufacturers to compensate for high energy and power costs.
The companies will pay an additional 1,604 rupees ($20.62) per kilolitre for ethanol produced from sugar cane juice, and 1,493 rupees for B- heavy molasses and 1,179 rupees for ethanol produced from C-heavy molasses.
India has accelerated efforts to double ethanol blending with gasoline to 20% from the current 10% across the country from 2025/26.
Tags: Bharat Petroleum, Ethanol, HPCL, IOC, Oil retailers
Recent Posts
Vedanta Aluminium signs pact with GAIL for supply of natural gas
HMM introduces South Korea’s first LNG-powered vessels
NGEL inks pact with NREDCAP in Andhra for RE projects
Global warming won’t end if net zero is redefined
The Liberian Registry and Korean Register (KR) grant AiP to Samsung
To satisfy decarbonization targets, Big Oil invests billions in the manufacture of biofuel
ISO issues standards for methanol as a marine fuel
Amazon, partners to test electric trucks on a freight corridor in India