Indian Oil (IOC), the nation’s largest oil firm, expects refinery run to reach 100% within a quarter as fuel demand returns, its chairman SM Vaidya said. Speaking at India Energy Forum by CERAWeek, he said petrol and cooking gas LPG demand is already above pe-Covid levels and diesel — the most consumed fuel in the country — is inching back to normalcy. “Energy demand is rebounding in India with the revival of economic activity” after a devastating pandemic, he said.
India’s energy demand had halved after a nationwide lockdown was imposed in late March last year. But with gradual easing of restrictions, economic activity has rebounded. Vaidya said the robust energy demand in India is only set to grow in the future.
