Written byRamya Patelkhana ·
Petroleum & Natural Gas Minister Dharmendra Pradhan announced three main state-run fuel retailers, Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation, would procure and convert used cooking oil into biofuel.
The three state-run oil marketing companies are seeking used cooking oil, which might otherwise be discarded, from bulk customers like restaurants, hotels, and canteens across 100 cities in the countries, Pradhan said.
The announcement was made by the Petrol & Natural Gas Minister on the occasion to mark the World Biofuel Day (August 10) at the Vigyan Bhavan in New Delhi.
"Prime Minister (Narendra Modi) has given a target to the Ministry of Petroleum and Natural Gas to bring down import dependency of oil products by 2022," Pradhan said at the event to launch World Biofuel Day 2019.
"...This can be achieved by enhancing production, improving energy efficiency, promoting conservation and encouraging alternate fuels," the minister added.
Let us pledge to join the #BiofuelRevolution. Let us support the cause of making #Biodiesel from used cooking oil #UCO for a cleaner, greener and healthier India. #WorldBiofuelDay#Ruco pic.twitter.com/xdegm1jzR2— Dharmendra Pradhan (@dpradhanbjp) August 10, 2019
"The government is promoting the alternate sources of energy in a big way," Pradhan said. "Biodiesel is low-hanging fruit in the scheme of alternate source of energies, and abundant raw material is available for the purpose. It is a good waste-to-wealth concept," he added.
The three state-run fuel retailers have also launched the program to procure biodiesel from leftover cooking oil in 100 cities on Saturday.
The companies would procure the same for a three-year period. In the first year, the fuel retailers will pay Rs. 51/liter to buy used cooking oil, Rs. 52.7/liter in the second year, and Rs. 54.5/liter in the third year.
Notably, India is one of the top consumers of edible oil in the world. The country uses about 27 billion liters of cooking oil every year.
From this, about 1.4 billion liters of used cooking oil can be collected in order to produce 1.1 billion liters of biodiesel, the Petroleum & Natural Gas Ministry said.
India is the third largest consumer of crude oil in the world and depends on imports for meeting about 85% of the country's needs. This, however, exposes the Indian economy to the risks of price and supply disruptions triggered by geopolitical tensions and trade wars.
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