Oil Minister Puri Defends Biofuel Push Amid OMC Financial Strain

Union Oil Minister Hardeep Puri has voiced strong support for India's biofuel blending programme, citing its growing global relevance. He pointed out that ethanol is now being used even in high-performance racing cars, underscoring its viability as a fuel. Puri made these remarks while addressing the financial pressure faced by oil marketing companies due to recent crude price swings. The volatility in global oil prices has been largely attributed to the ongoing crisis in the Middle East. The minister's comments come as India continues to push for higher ethanol blending targets in petrol.