India to invest ₹5.6 lakh Crore in Energy Sector - PM Modi addresses India Energy Week (IEW) 2024 - a quick go through on important facts and figures

 

• India aims to increase the share of Natural Gas in primary Energy mix from currently 6% to 15%.

 

• To achieve 15% contribution from Natural Gas in the energy mix, India will invest $67 billion in the next 5-6 years.

 

• A significant part of ₹11 Trillion Capex announced in the interim budget will be invested towards the energy sector.

 

• India's annual oil consumption stands at 19 Million barrels and is set to reach 38 Million barrels by 2045.

 

• Thus keeping this in view, India also aims to increase refining capacity...

 

• India's refining capacity is currently over 255 million metric tons per annum (MMTPA) and aims to expand it to 450 MMTPA by 2030.

 

• In 2023, India achieved over 12% of ethanol blending in petrol from 1.5% a decade ago.

 

• Ethanol blending has helped in averting 42 million metric tonnes of carbon emissions.

 

• India launched E20 fuel at India Energy Week 2023 last year. 

 

• (E20 Fuel means 20% ethanol blending in gasoline)

 

• Now E20 fuel is available in more than 9000 outlets in India.

 

• E20 fuel is estimated to achieve ₹50000 Crore of savings for the government via reduction in Crude Oil imports.

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