NEW DELHI/SINGAPORE (Reuters) - Indian state refiners issued their first tenders to import Euro IV-compliant diesel to meet an April deadline for the roll out of cleaner fuel in 13 major cities, traders and company officials said on Friday.
Indian Oil Corp (IOC) and Bharat Petroleum Corp (BPCL) are seeking a total 180,000 tonnes of Euro IV diesel for delivery in February.
India's decision to import gas oil is expected to boost the diesel market at a time of tepid demand and burgeoning supplies on land and at sea.
India is keen to cut emissions as Asia's third largest economy expands rapidly and aim to catch up with fuel quality in Europe, which now follows Euro V standards.
It has been gradually reducing sulphur from 2000, when fuel had 500 parts per million (ppm). Motorists in major cities will now move to Euro-IV norms, locally known as Bharat Stage-IV, that allow up to 50 ppm sulphur.
Last week, India decided to adhere to an April deadline for the Euro IV launch in major cities. The roll out of Euro III specifications in the rest of the country has been staggered until October.
No comments:
Post a Comment