Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

India's oil demand to more than double by 2045:.


Date: 30-09-2021
Subject: India's oil demand to more than double by 2045:
NEW DELHI: India will remain hooked to oil for another quarter of a century, with demand seen more than doubling to 11 million barrels a day by 2045 in spite of the Narendra Modi government’s focus on faster transition to clean energy, leaving fuel consumers vulnerable to crude market volatility. 

According to Opec World Oil Outlook 2021, the contribution of diesel and petrol to the country’s oil demand  will rise from 51% to 58% through 2045 on the back of an expanding population, growing prosperity and rapid urbanization between 2020 and 2045. 

The latest long-term market outlook from the grouping of oil exporters, which accounts for about 40% of global oil supply, expects oil to make up 28.6% of the India’s primary energy mix in 2045, marking an increase of more than 3 percentage points compared to 2020, boosted by an expected addition of 200 million passenger cars and spelling a tepid pace for adoption of electric mobility. 

The rising oil demand will also push up India’s dependence on imports in the face of stagnating oil and gas production. This will directly impact consumers by pushing up fuel prices when oil flares up such as in recent weeks when petrol and diesel prices have begun to crawl up as crude hit $80 a barrel in a volatile market. 

The report expects gas consumption to grow by 5.4% annually, outpacing total energy demand growth, boosted by rapid expansion in city gas networks and adoption of CNG (compressed natural gas) vehicles. But it doubts this may not be enough to meet the government's target of raising the share of gas in India's energy basket to 15%. 

The government focus on cleaner fuels and renewables will, however, reduce the share of coal in primary energy demand from 43.5% to 36.3% in 2045 but it will still be the top energy provider among all sources in 2045. 

The report sees per capita energy consumption almost doubling from 4.65 boe (barrels of oil equivalent) in 2020 to 8.56 boe in 2045 on the back of an annual GDP growth rate of above 6% for the next 15 years, making India the fastest growing emerging economy. 

India accounts for around 18% of the world’s population but uses only about 7% of the world’s primary energy, with per capita energy consumption pegged at 4.7 boe against the global per capita average of 13.2 boe. 

Source:thetimesofindia.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 06-06-2025
Notification No. 13/2025-Customs (ADD)
Seeks to impose Anti Dumping Duty on imports of ‘Insoluble Sulphur’ originating in or exported from China PR and Japan.

Date: 30-05-2025
Notification No. 31/2025-Customs
Seeks to i. extend the specified condition of exemption to imports of Yellow Peas (HS 0713 10 10) to bill of lading issued on or before 31.03.2026; ii. to reduce the basic custom duty on crude soya bean oil (HS Code 15071000), crude sunflower oil (HS Code 15121110), and crude palm oil (HS Code 15111000) from 20% to 10%

Date: 30-05-2025
Notification No. 38/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 26-05-2025
NOTIFICATION No. 37/2025-Customs (N.T.)
Notification of ICD Jalna, Maharashtra u/s. 7(1)(aa) of Customs Act, 1962" and it was issued under Section 7(1)(aa) of Customs Act, 1962

Date: 23-05-2025
Notification No. 30/2025-Customs
Seeks to amend notification No. 55/2022-Customs dated 31.10.2022 to remove the condition required for availing exemption on Bangalore Rose Onion.

Date: 23-05-2025
NOTIFICATION No. 36/2025 - Customs (N.T.)
Amendment in the Notification No. 63-1994-Customs (N.T) dated 21.11.1994 in respect of Land Customs Station, Raxaul

Date: 15-05-2025
Notification No. 34/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 09-05-2025
Notification No. 29/2025-Customs
Seeks to exempt works of art and antiques from Basic Customs Duty

Date: 30-04-2025
Notification No. 02/2025-Customs (CVD)
Seeks to amend Notification No. 05/2024-Customs (CVD) dated the 11th September, 2024 so as to align with changes made vide Finance Act, 2025

Date: 30-04-2025
Notification No. 26/2025-Customs
Seeks to rescind Notification No. 04/2025-Customs dated the 1st February, 2025



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001