AVISTA OIL and IFP Petro: Progress, Future Plans, and Call for Government Support
Achievements Over the Past Year
Through collaborative efforts, AVISTA OIL and IFP Petro have made substantial progress in various areas:
- Know-how Exchange: The partners have actively shared expertise in used oil mechanisms and best practices, enabling the integration of global knowledge into local operations.
- Regulatory Assistance: Jointly, they have worked towards shaping the regulatory landscape to ensure a smooth translation of regulations into market practices, facilitating industry growth. Dialogues have been held with Government Bodies as well as International Development Agencies.
- Operational Feasibility: Together, they have evaluated the viability of product and service exchange, exploring avenues for diversification and leveraging each other’s strengths.
- EPR Regime Development: They have been promoting the Extended Producer Responsibility (EPR) regime within their networks, which they recognize as a crucial step for the industry, emphasizing the importance of responsible management of used oil.
Call for Active Support from Stakeholders
The success of this partnership relies on the active involvement of all stakeholders. They urge oil producers, Original Equipment Manufacturers (OEMs), and used oil generators to actively participate in building a comprehensive ecosystem that supports the collection, refining, and reuse of used oil. So that together they can create a cleaner and more sustainable future for the Indian oil industry.
Looking Ahead
AVISTA OIL and IFP Petro are committed to strengthening the partnership and expanding the efforts in the coming years. They envision continued collaboration and support to drive positive change within the Indian oil sector and remain optimistic about the future and the potential for a profitable re-refining business.
