India Seeks Biofuel Boost Amid Record Oil Prices

India's dependence on imported oil has led to a surge in crude prices, and the country is now pushing for greater biofuel production to boost energy security. According to Tarun Kapoor, an adviser in India's Prime Minister's Office, the future of biofuels lies in maximizing value from every available resource.

Kapoor emphasized the need to expand the market and fully utilize existing capacity for biofuels such as ethanol and compressed biogas. This push comes as India faces high crude oil prices due to reduced imports from the Middle East, with its average import price soaring above $100 per barrel last week.

India launched a new fuel blend in June with an 85% ethanol component to reduce dependence on imported oil and advance low-carbon mobility. The country's Minister of Petroleum and Natural Gas, Hardeep Singh Puri, has stated that Flex Fuel Vehicles offer India a practical solution to reduce crude oil imports and strengthen the rural economy through ethanol demand.