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Soon, cars will run on cooking oil: Indian Oil, BPL, HPCL working on this program
Posted on 10th August 2019
In a move that may fulfil Prime Minister Narendra Modi’s dream of reducing India’s dependence on energy imports, state-run fuel retailers — Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp will soon start a collection drive for its ambitious program that aims at converting used cooking oil to biodiesel. These oil corporations are expected to float an Expression of Interest application for procurement of Used Cooking Oil across 100 cities, Ministry of Petroleum and Natural Gas said in a statement on Thursday. The oil will be collected at an assured rate of Rs 51 per litre, which would be then increased to Rs 52.7 in the second year and Rs 54.5 per litre in the third year.

However, with the Expression of Interest, the government aims to “encourage the applicants to set up Biodiesel producing plants, processing plants and further utilizing the existing potential of UCO based Biodiesel in India,” the ministry said.

In India, 2700 crore litre of cooking oil is used and about 140 crore of used cooking oil can be collected from bulk customers like hotels, restaurants, canteens, etc. This will yield about 110 crore litre of Biodiesel in one year. The government needs 500 crore litres of Biodiesel in a year to achieve blending target for creation of High-Speed Diesel (HSD). “Presently there is no established collection chain for UCO. Thus, there is a huge opportunity in the production of biodiesel from UCO,” Ministry of Oil and Natural Gas said in a statement.

Exemplifying dairy major brand Amul, Dharmendra Pradhan, MoS, Ministry of Oil and Natural Gas said that “like Amul, where milk is collected from households and then converted into a commercial product, there will be RUCO (Repurpose Used Cooking Oil) movement”, news agency PTI cited the minister as saying.

India is one of the biggest crude oil consumers in the world and about 85% of its oil needs are catered via imports.

Related Companies: Bharat Petroleum   Hindustan Petroleum Corporation Ltd.(HPCL)   

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Maruti launches petrol version of Vitara Brezza, priced at Rs 7.34 lakh
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Hero MotoCorp shares slip to over 5-year low, tumble 12% in February
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Malaysia PM Mahathir Mohamad submits resignation to king amid turmoil
Posted on 24th February 2020

Malaysian Prime Minister Mahathir Mohamad, at 94 the world's oldest leader, submitted his resignation to the king Monday after a bid by his allies to bring down the government and block the succession of leader-in-waiting Anwar Ibrahim.

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