Indian Oil Corporation begins exporting aviation fuel for the first time

Since India will be exporting petroleum for the first time in its history, the oil trade in that country is entering a new era. The Indian Oil Corporation (IOC) has begun exporting aviation fuel, which is needed to fly tiny planes and unmanned aerial vehicles (UAVs). India enters a global market worth an estimated $2.7 billion with the start of petroleum exports.

Over the weekend, the first cargo of 80 barrels of aviation gas was sent from the Jawaharlal Nehru Port Trust (JNPT) to Papua New Guinea. Each barrel has a capacity of 16 kiloliters of aviation gas, the company claims.

"The indigenous production of the gas named AV gas 100 LL will not only help save foreign exchange but will also make training in domestic flying schools economical for budding pilots," IOC chairman SM Vaidya was quoted as saying in the company statement.

High-octane aviation gasoline performs better and meets higher quality standards than imported fuels. Typically, this fuel is used by flying schools for piston-engined aircraft. The gas would help about 35 flight schools in the nation and is approved by the Directorate General of Civil Aviation (DGCA).

Unmanned aerial vehicles (UAVs) are being employed more frequently in contemporary combat, especially in Russia and Ukraine, therefore the development represents a significant step forward for India in terms of its defence readiness.

The Indian Oil Corporation is eager to enter markets with a significant need for aviation gasoline in areas including South America, Asia Pacific, West Asia, Africa, and Europe after satisfying the fuel's home demand.

India purchased this fuel from European markets till last September. At its Vadodara facility, Indian Oil Corporation started producing aviation fuel in September 2022. As of right now, the IOC is the only manufacturer of the fuel in India, and the plant has a 5,000-tonne annual capacity.

The IOC Chairman further stated that although the country's aviation traffic is anticipated to expand at a pace of 7% CAGR, the worldwide market for aviation gas is anticipated to grow at a rate of 5% CAGR. He voiced his belief that India will be able to capture a sizable portion of the market because of its superior performance, high standards of quality, and affordable prices.