International Olympic Committee is investing '16,628 crore in upgrading its refineries to produce BS VI emission norm-compliant petrol and diesel, while the overall cost for all the oil marketing companies for the same will be around '28,000-30,000 crore.
The director of Indian Oil Corp (IOC), B V Rama Gopal while speaking to media in New Delhi on Saturday confirmed that state-owned oil firms will start supplying the BS-VI grade fuels (equivalent to fuel meeting Euro-VI emission norm) at all the 391 petrol pumps running in the national capital territory (NCT).
However, to take full advantage of the availability of such superior fuels, the vehicle technology has to move to BS-VI.
One of the major differences between BS-IV and BS-VI fuel is the presence of sulphur.
Delhi will become the first city in India to see retail sales of BS VI petrol and diesel.
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In order to combat the rising levels of air pollution, the Delhi-NCR region on April 1, 2018 began supplying ultra-clean Bharat Stage VI grade fuel, both petrol and diesel.
Adding to his statement that a mechanism for recovering the cost would be worked out when the whole country shifts to Euro-VI grade fuel he also stated that "Rest assured we don't have plans of passing on the cost to customers".
While the oil companies have invested heavily to produce cleaner fuel, the consumers are not being passed on any of the cost for the time being, he said. BS-IV diesel has 50 ppm (parts per million) sulphur, while BS-VI will have 10 ppm. Bharat Petroleum Corp Ltd (BPCL) will supply the fuel from its Bina refinery.
The Petroleum & Natural Gas Minister Dharmendra Pradhan said that we chose to proactively advance the roll-out of BS-VI fuel in Delhi from April 2018, instead of April 2020 after taking stock of the alarming pollution situation in Delhi in winters.
Besides, the company is investing ₹ 15,600 crore in expansion of petrochemical projects and another ₹ 74,600 crore in raising the capacity of its existing refineries.