Indian Oil Corporation starts exporting jet fuel
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Mumbai: National oil marketing company Indian Oil Corporation (IOC) has started exporting aviation fuel gasoline. It is a fuel used to power unmanned aerial vehicles and small aircraft. The company said in a statement that the first consignment of 80 barrels of aviation gas was dispatched from the Jawaharlal Nehru Port Trust (JNPT) to Papua New Guinea. India is now entering an estimated $2.7 billion world market for this fuel. It was produced for the first time at IOC’s Vadodara Refinery.
This fuel powers unmanned aerial vehicles and piston-engine aircraft used by the flight training centre, the statement said. It is a high-octane aircraft fuel that meets product specifications with improved performance and quality standards and is cheaper than imported grades.
IOC Chairman SM Vaidya was quoted in the company’s statement as saying, “The name of this aircraft gas is AV Gas 100LL and its production in the country will not only help in saving foreign exchange, but it will also help in domestic flying institutes for budding pilots.” Will also make training affordable. He said that there is a huge demand for this fuel in South America, Asia Pacific, West Asia, Africa and Europe. Vaidya said IndianOil aims to tap into this market after meeting domestic demand.
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