Bengaluru: Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, announced today that India could save up to 91,000 crore rupees on its import bill through biofuel blending. Addressing the 27th Energy Technology Summit in Bengaluru, Puri highlighted that this significant saving could be redirected to benefit the nation’s agricultural sector, aligning with India’s ongoing efforts to boost energy security and sustainability.
The Minister proudly noted that India has now achieved the second position globally in biofuel blending, underscoring the nation’s commitment to sustainable energy. He expressed optimism about India’s target of reaching 20 percent biofuel blending by next year, well ahead of schedule. This milestone, he suggested, marks a critical step forward in reducing dependency on imported fuels and promoting green energy.
“As our refineries shift to green energy sources, India is poised to make strides toward green hydrogen,” Puri stated, referring to hydrogen production using renewable energy. He emphasized that India’s future energy demand is expected to grow by two and a half times by 2047, placing an urgent need on building resilient, sustainable energy infrastructure.
Highlighting the country’s progress, Puri pointed out that India’s crude oil refining capacity has now reached between 400 to 450 million metric tons per annum, roughly one-third of the global average. However, he cautioned that substantial efforts are required to meet India’s target of net zero carbon emissions by 2070, urging for a concerted focus on energy security, sustainability, and technological innovation to achieve this ambitious goal.
The three-day (12-14 November) Energy Technology Summit, organized by the Centre for High Technology in collaboration with Indian Oil Corporation Limited, has attracted approximately 1,200 participants. During the event, over 60 research papers will be presented, and 23 exhibitors will showcase their latest advancements in energy technology.
