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MNI: PBOC Net Injects CNY3 Bln Via OMOs Friday
MNI: PBOC Yuan Parity Higher At 7.0760 Friday; -4.68% Y/Y
"Many Countries" Interested In Indian-Led Biofuel Alliance
Indian Oil Minister Hardeep Singh Puri has told reporters at the India Energy Week event in Bengaluru, India that, "many, many countries are interested," in an Indian proposal for a biofuels alliance.
- Puri cited Russia and Brazil as among the countries interested in the proposal which would promote cleaner fuel and assist in India's transition to alternative fuel sources.
- Puri: "It could be for experience sharing or anything... if your question is that [the alliance] is off to a good start, my answer is excellent."
- A proposal for the alliance was announced in October, last year, ahead of India's assumption of the presidency of the G20.
- Reuters: "India imports about 85% of its crude needs, but is gradually building capacity to increase its output of biofuels. It plans to build 12 bio-refineries to produce fuel from items including crop stubble, plant waste and municipal solid waste."
- Bloomberg reported ahead of the Energy Week event: "The US and Brazil, two of the world’s largest biofuels markets, are joining an India-led initiative that will aim to boost demand for the lower-emissions energy source."
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