Indian refining & marketing industry: Outlook healthy for the medium term

摘要

Domestic demand growth at 10.9%, the highest level since 2000, on the back of improving economic activity and lower crude oil prices India's petroleum products demand increased to 183.5-mt in FY2016 from 165.5-mt in FY2015, registering a growth of 10.9% (y-o-y), the highest level since 2000. This kind of demand growth was the highest in the last two decades and was on a much larger base. The total petroleum products' demand growth in FY2016 was more than double the cumulative average growth (CAGR) level of 4% (achieved during FY2005-15) in line with high growth in consumption of petrol, naphtha, LPG, pet-coke and bitumen, along with a material improvement in growth in diesel demand.