Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, has stated that biofuel blending could save India 91,000 crore rupees on import expenses, with these savings benefiting the agricultural sector. Inaugurating the 27th Energy Technology Summit in Bengaluru, he noted that India ranks second globally in biofuel blending and is on track to achieve a 20 per cent biofuel blending target by next year, ahead of schedule.

The Minister emphasised that as Indian refineries transition to green energy, the country is advancing toward its green hydrogen goals. He highlighted that India’s energy demand is expected to grow 2.5 times by 2047, with a current crude oil refining capacity of 400-450 million metric tons annually-about one-third of the global average. Achieving the 2070 net-zero emission target, he added, will require doubling efforts in energy security, sustainability, and technological innovation.

The three-day Energy Technology Meet, organised by the Centre for High Technology and Indian Oil Corporation Limited, has drawn 1,200 participants, with 60 papers to be presented and 23 exhibitors showcasing the latest technologies. The Minister also awarded the Petroleum and Natural Gas Ministry’s 2023-24 best energy-efficient technology awards.