Advertise With Us

The Demand for Petrol and Diesel to raise around 4.7% by 2025: Report

India’s overall fuel market will rise by an average of 4.7 per cent a year through the financial year 2025 because of a growing demand for gasoil as the country’s road transport chain reforms, the Chief Executive Officer for Nayara Energy B. Anand announced on Tuesday.
Chief executive B. Anand told he presumes India’s fuel requirement to grow 4.7% a year to 5.5 million barrels per day (BPD) through the commercial year 2025, and then 4% per year to 6.6 million BPD through 2030.
Need for Gasoil will spread by an ordinary 5.3% per year within the 2025 financial year and by a normal 4.5% for 2030, he told the Asia Pacific Petroleum Conference in Singapore.

As per the Press Trust of India …..

• India would continue to rely mainly on road transport to move freight around the country, while the number of passenger cars would steadily increase in coming years with rising vehicle ownership, Anand said.
• Gasoline and Gasoil will continue to benefit from rising car sales and stronger manufacturing industry, but faster than expected penetration of electric vehicles could pose a risk to demand growth, he added.
• While the share of renewables, including solar, wind and natural gas, was likely to increase in the next 10 years, absolute oil demand would still rise strongly over the next decade, he said.
• Nayara, which operates a 400,000-BPD refinery in western India, is capable of producing new low-sulphur specifications for marine fuels starting in 2020, Anand said.
• The refiner, which procures 85% of its crude requirement from international markets, usually looks for so-called heavy crude oil grades from Europe, West Africa, Latin America and also Canada.

Related posts

Gold is becoming exorbitant day by day

India Business Story

Major biscuit brand may Fire Up To 10,000 hireling

India Business Story

Indian Handicrafts are unique expressions and represent a culture

India Business Story