India expanding solar, wind and hydrogen push to reduce oil dependency: Former BPCL official
New Delhi, May 25
India's push towards ethanol blending and renewable energy is helping reduce the country's dependence on imported crude oil, Krishnakumar Gopalan, former Chairman and Managing Director of Bharat Petroleum Corporation Limited said on Monday.
Speaking to IANS, he said the government had realised early the need for an energy transition and has been working closely with oil companies to reduce vulnerabilities arising from high crude imports.
Speaking about India's fuel strategy, Gopalan said around 85 per cent of the country's crude oil requirement is imported, making the economy highly exposed to global developments and price fluctuations.
"To address this challenge, India has introduced 20 per cent ethanol blending in petrol, which is gradually being accelerated further to cut dependence on crude imports," Gopalan said.
"That is one step where we are trying to reduce our dependency. The second step is we have made our efforts in increasing renewable assets, be it solar, wind, hydrogen. We are even looking at hydrogen retail outlets," he told IANS.
Gopalan also highlighted the role played by oil marketing companies in managing fuel supplies efficiently despite global uncertainty.
"They have been managing supplies very well. There are hardly any cases of dry outs except where there are localised crises and the oil companies, I think, have done a very commendable job in managing the supplies," he added.
On fuel prices, the former BPCL chief said oil companies have absorbed a major part of the cost burden despite rising global crude prices.
According to him, the current under-recovery on petrol is around Rs 13 to Rs 14 per litre, while diesel under-recovery is close to Rs 38 per litre.
"The loss in petrol is about 13 to 14 rupees and diesel is about 38 rupees, so whatever increase has happened is only partial," he stated.
"The good fact is crude has started coming down, there are positive indications about negotiations working and if that does happen, that will be a great relief, there won't be much increases required that will offset and the crude economy also will benefit," he told IANS.
— IANS
Reader Comments
Good intentions but the execution is still patchy. Solar panels on many government buildings stand idle for months due to poor maintenance. Hope this push isn't just another announcement without ground-level follow-through.
The under-recovery figures are staggering—Rs 38 per litre on diesel! Consumers are getting a subsidy, but it's not sustainable. India must accelerate its renewable push, but also rethink fuel pricing to avoid hurting state finances.
Finally, a clear strategy beyond just lip service. Ethanol blending supports our farmers too—sugarcane growers get a market. Hope the hydrogen retail plans materialise soon. Kudos to BPCL for leading the change! 🙌
A realistic perspective from someone who's been at the helm. The fact that crude prices are easing is encouraging, but India must invest more in domestic solar manufacturing. We import solar cells from China—that's another dependency we need to break.
Interesting to hear India's energy strategy from a Western perspective. The ethanol blending push is ambitious—20% is world-leading. But the real test will be maintaining supply stability as renewables get grid-integrated. Good luck, India!
My only worry is the transition cost
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