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2016-08-02 18:45:00

INDIA'S OIL CONSUMPTION UP TO 10.9%

INDIA'S OIL CONSUMPTION UP TO 10.9%

 

INDIA PRODUCTION CONSUMPTION 1990 - 2015

 

INDIA ENERGY OIL DEMAND 2000 - 2040

 

According to ET, oil consumption growth in the current fiscal year will likely exceed 10.9% of the previous year, if the current consumption trend continues, an oil ministry arm has said. A 7.8% jump in the consumption of petroleum products in the country in April-June, compared to 5.2% in the year-ago period, has prompted this prediction from the Petroleum Planning and Analysis Cell (PPAC).

"Typically, April-June is sluggish in performance than the rest of the year. Going by the trend, it's likely petroleum products consumption growth for 2016-17 could be better than that of last year," the PPAC said in its monthly review. A higher fuel consumption signifies faster clip of economic growth for the country, currently growing at 7.6% annually.

In April-June, the biggest consumption growth was recorded in petrol (10%), liquefied petroleum gas (7.8%), fuel oil (22.9%), bitumen (13.9%) and aviation turbine fuel (12.1%). For diesel, the most consumed petrol product in India, it rose 4.7%. Kerosene dived 7.7% following a general shift towards cooking gas and increased power availability.

In June, diesel consumption grew 1.5%, the slowest month-on-month pace since July 2015, mainly because people anticipated favourable prices in May and July and shifted some offtake away from June, according to PPAC.

Domestic prices follow international trends and are revised fortnightly, prompting dealers to temper order sizes on price change anticipation. Higher power availability and good monsoon, that affects road transport and lowers diesel consumption for farm pumps too contributed to lower diesel figures, the PPAC said.

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Earlier: 

INDIA HAS FOUND GAS 

INDIA'S OIL RESERVES 

INDIA'S HIGH GROWTH 

ROSNEFT SOLD VANKOR 

THE BIGGEST ASIA'S LNG TERMINAL

 

 

Tags: INDIA, OIL, CONSUMPTION

Chronicle:

INDIA'S OIL CONSUMPTION UP TO 10.9%
November, 15, 15:25:00

OIL PRICE: ABOVE $61 AGAIN

REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.

INDIA'S OIL CONSUMPTION UP TO 10.9%
November, 15, 15:20:00

IEA COOLS THE MARKET

BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.

INDIA'S OIL CONSUMPTION UP TO 10.9%
November, 15, 15:15:00

IEA: GLOBAL ENERGY DEMAND UP BY 30%

Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.

INDIA'S OIL CONSUMPTION UP TO 10.9%
November, 15, 15:10:00

RUSSIA'S OIL EXPORTS UP

Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.

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