India reassessing future oil demand projections and refinery capacity due to pandemic
New Delhi: India is reassessing its future oil demand projections and refinery capacity needs in the wake of the pandemic that severely hurt fuel demand, shook many industry assumptions and triggered calls for accelerated transition to cleaner energy.
“The demand in the country is growing and some energy transition is also taking place. The Petroleum Planning and Analysis Cell (PPAC) is preparing a report on the country’s future oil demand and refinery capacity needs,” petroleum secretary Tarun Kapoor told ET. The PPAC, an arm of the oil ministry, is responsible for regular industry analysis and forecasts.
