India has achieved over 8% ethanol blending in petrol: Dharmendra Pradhan

• Pradhan said that the Indian oil and gas sector will play an important role in the making of Aatmanirbhar Bharat

• The sector undertakes maximum capital spending, providing large employment and giving fillip to the economy and garnering revenue for the State, said the minister

New Delhi: Union Minister of Petroleum and Natural Gas Dharmendra Pradhan said on Wednesday that ethanol blending in petrol has reached over 8 percent. "We are targeting 20 percent ethanol blending by 2024-25 which will make India the country with largest ethanol blending in absolute terms," said Pradhan while speaking at the FIPI Awards 2020 ceremony. He also said that the Indian oil and gas sector will play an important role in the making of Aatmanirbhar Bharat, fulfilling not only domestic requirements but also meeting the global expectations.

"We must ensure energy security for our people and provide energy which is affordable, accessible, clean, efficient and sustainable. We shall move towards making petroleum industry a clean energy industry," said the minister.

'Petroleum sector undertakes maximum capital spending'

The minister said that there are a few sectors with such multi-faceted prospects such as the petroleum industry. The petroleum sector has contributed immensely to the nation's development trajectory. "Today's award function is a testimony to the good work being done in the petroleum industry. The sector has made valuable contribution in the nation's development. The sector undertakes maximum capital spending, providing large employment and giving fillip to the economy and garnering revenue for the State. In about one century of journey of the oil and gas industry in the country, the sector has grown by leaps and bound. Despite deregulation and increased competition, the sector is doing exceedingly well. It is producing world class products, doing innovation and R&D, and showing vision."

Pradhan said that India has faced the COVID crisis bravely. Whether it is manufacturing of PPEs, vaccine or delivery of over 14 crore free LPG cylinders, India adopted and implemented a multi-pronged response to the pandemic. During Covid-19, the oil companies led from the front, and helped the country face the pandemic effectively. No shortage of fuel was noted during the period in any part of the country. The distribution of over 14 crore cylinders to Ujjwala beneficiaries during the period helped the poor who were in dire need of support at that time.

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The Minister said that the petroleum industry is full of people having experience, wisdom and vision. "Digitalisation, gas-based economy, new and alternative fuels are some of the areas we are focusing. Implementation of Pradhan Mantri UjjwalaYojana, movement towards gas-based economy, and rollout of BS-VI standard have been lauded the world over," said Pradhan.

'We must deliberate on how to move towards greater adoption of clean energy'

He said that energy demand in India is set to increase. "We must deliberate on how we can move towards greater adoption of clean energy.  India must assume leadership in exploration of cleaner forms of energy," he said. Talking about climate sustainability, he said that India has adopted the renewable energy on a massive scale. Pradhan called upon the industry to adopt new technology, new processes and new paradigm so that India's future energy requirements are met mostly from clean energy sources.

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