New Delhi: India will continue to be addicted to oil for a quarter of a century, with requests seen more than doubled to 11 million barrels per day in 2045 regardless of the focus of the Narendra Modi government on a faster transition to clean energy, leaving fuel consumers vulnerable to raw market volatility.
According to OPEC World Oil Outlook 2021, diesel contributions and gasoline to the country’s oil demand will rise from 51% to 58% to 2045 behind the growing population, increased prosperity and rapid urbanization between 2020 and 2045.
The market markets from grouping Oil exporter, which accounts for around 40% of global oil supplies, expects oil to form a 28.6% of India’s main energy mixture in 2045, marking an increase of more than 3 percentage points compared to 2020, enhanced by the addition of the expected 200 million cars Passengers and spelling high speed for electrical mobility adoption.
Source: OPECTHE increases the demand for oil will also encourage Indian dependence on imports in the face of stagnant oil and gas production.
It will directly affect consumers by pushing fuel prices when oil lights up as in recent weeks when the price of gasoline and diesel begins to crawl as crude oil reached $ 80 per barrel on the fluctel market.
This report estimates that gas consumption will grow by 5.4% every year, exceed the growth of total energy demand, driven by rapid expansion in the city gas network and the adoption of CNG vehicles (compressed natural gas).
But this doubt may not be enough to meet the government’s target to increase the gas share in the Indian energy basket to 15%.
However, the government focuses on fuel and clean renewable energy will reduce the share of coal in the demand of primary energy from 43.5% to 36.3% by 2045 but will still be the top energy provider among all sources in 2045.
Reports It sees energy per capita consumption almost doubled from 4.65 BOE (equivalent barrel of oil) in 2020 to 8.56 BOE in 2045 behind the annual GDP growth rate above 6% for the next 15 years, making India grow with economic growth.
India accounts for around 18% of the world population but only uses around 7% of the world’s main energy, with per capita energy consumption it is pegged at 4.7 BOE on the 15th global per capita average.