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Maiden Purchase of Bio-diesel by Oil PSU's- Step Forward for India's Energy Security

News: Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation have invited tenders for procurement of 850 million litres of biodiesel from local manufacturers. 

Source: ET

SNP Insight: 

Blending of biodiesel can help immensely in reducing dependence on imported crude oil and there by enhancing country’s energy security. The other long term benefits which can be reaped include climate change mitigation through reduced greenhouse gas (GHG) emission, environmentally sustainable development, and generation of new employment opportunities in the sector. However for these benefits to sustain its depends how the Government initiates for mandatory blending targets or biofuel  in due course of time.

Source: SNP Infra Research