OIL: India’s Resilient Economy to Drive Oil Demand in Next Two Decades: HPCL
Nov-05 12:47
India’s oil demand is set to remain robust for decades, driven by resilient economic growth and rising consumption of gasoline and LPG, Vikas Kaushal, chairman and managing director of HPCL said, cited by Platts.
- Speaking at ADIPEC 2025, Kaushal noted that demand will stay strong this year and next, with India’s refined product consumption forecast to rise by 78,000 b/d in 2025 and nearly 218,000 b/d in 2026 to about 5.65m b/d.
- HPCL plans to lift refining capacity from 36m mtpa to 45m mtpa following completion of its Rajasthan refinery.
- The company aims for net-zero emissions (scope 1 and 2) by 2040, focusing on renewables, green hydrogen, biofuels, and carbon capture while improving refinery efficiency and expanding solar-powered retail operations.
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