Oil marketing companies to procure biodiesel from used cooking oil

Oil Marketing Companies (OMCs) in the country would procure biodiesel produced from used cooking oil (UCO) at a rate of Rs 51 per litre in first year, which would go up further to Rs 52.7 per litre and 54.5 per litre respectively in the second and third year, Petroleum and Natural Gas Minister Dharmendra Pradhan said on Saturday.

Speaking on the occasion to mark the World Biofuel Day at Vigyan Bhavan here, the Minister said the OMCs have made an assurance to procure the entire quantity of biodiesel produced from UCO in the country. The OMCs – IndianOil Corporation, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited – would also bear the cost of transportation and GST for the first year, he said.