Oil Ministry strives to reduce imports: Rameswar Teli

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Oil Ministry strives to reduce imports: Rameswar Teli

New Delhi, April 30 (UNI) State Minister for Petroleum and Natural Gas and Labor and Employment Rameswar Teli said on Saturday that the Petroleum Ministry was working to reduce imports. Speaking after the rollout of IndianOil’s new M15 petrol at Tinsukia in Dibrugarh district of Assam, he said blending the fuel with methanol would provide respite from rising prices. He also highlighted future expansion plans for the Digboi refinery. The use of M15 fuel is expected to have a positive impact on import substitution and is expected to save billions of dollars in fuel import bills. Speaking on the occasion, IndianOil Chairman, SM Vaidya said that “the pilot deployment of the M15 is a stepping stone towards energy independence and reduced import burden” and further highlighted the steps taken by IndianOil to make India energy self-sufficient. In its efforts to reduce the consumption of fossil fuels, the Indian government has considered an ambitious roadmap for the energy sector with greater emphasis on saving methanol. Accordingly, as envisioned by Niti Aayog and in line with the philosophy of making India self-sufficient in energy needs, the deployment of M15 Petrol (a 15% blend of methanol with gasoline) was taken over by IndianOil on a pilot. The pilot deployment is underway at Tinsukia in Assam due to the ready availability of methanol which is being manufactured by the state-owned Assam Petrochemical Ltd, Namrup, near Digboi. The concept of methanol economy is currently being actively pursued by countries like China, Japan, Italy, Sweden, USA, Australia, Israel and many other European countries. Methanol has become the fuel of choice in the maritime sector around the world, and countries like Sweden are at the forefront of its use. UNI AKM SHK2223

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