Indian oil firms to compensate ethanol makers for higher energy costs
NEW DELHI/MUMBAI (Reuters) – Indian state fuel retailers have agreed to provide monetary relief to sugar mills and other producers of ethanol to compensate for high energy costs to boost biofuel production, according to a letter written by the companies to manufacturers.
India, the world’s third biggest oil importer and consumer, has expedited efforts to double ethanol blending with gasoline to 20% from the current 10% across the country from 2025/26.
The Indian government fixes the ethanol purchase prices for fuel retailers – Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp — every marketing year.
