Oil demand is expected to reach around 11 million barrels per day by 2045: Rameswar Teli

New Delhi: Minister of State for Petroleum and Natural Gas, Shri Rameswar Teli, in a written response to a question posed to the Rajya Sabha, today informed that the World Oil Outlook 2021, the flagship publication of the Organization of Countries oil exporters (OPEC), forecast oil demand in India to reach around 11 million barrels per day by 2045, from around 4.9 million barrels per day in 2021.

The government is taking various measures to ensure the country’s energy security, especially in Tamil Nadu, including increasing domestic oil and gas production in all states of India, diversifying import sources to new countries and regions; and diversifying energy sources beyond traditional hydrocarbons to emerging fuels like ethanol, compressed biogas, hydrogen, etc., through programs such as the Ethanol Blending Program (EBP) , the sustainable alternative to affordable transport (SATAT), etc.

In addition, the government has taken up the issue, bilaterally with crude oil producing countries with OPEC and with heads of other international forums to convey India’s serious concerns over oil price volatility. crude oil and India’s strong preference for responsible and reasonable prices for consumer countries.

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Felix J. Dixon