According to reports, Petroleum Minister M. Veerappa Moily on Sunday said the Prime Minister-headed Cabinet Committee on Investments would take up 31 oil and gas blocks stuck for clearances in ‘two-weeks.’
Moily said the Government was looking to float a global tender to procure ethanol for blending with auto fuel.
According to the nodal Ministry, there is demand of around 100 crore litres.
Half of it has been procured domestically. For the remaining volumes, a global tender is likely to be floated.
Moily, while addressing the National Editor’s Conference, said the Government had decided that five per cent mandatory ethanol blending with petrol should be implemented across the country, to promote conservation of energy.
“The target is set to be achieved by June 30. A Gazette notification has been issued directing oil marketing companies to implement the programme,” Moily said.