Gasoline Demand in Q1 has been provisionally assessed at 9.377 MMT
New Delhi, Consumption of Gasoline/petrol during the 1st Quarter of current year (April-June, 2023) has been provisionally assessed at 9.377 MMT (Million Metric Tons) which is 19.7% higher than the same period of FY 2019-20.
The present refining capacity of Indian refineries is 253.9 Million Metric Tons Per Annum, (MMTPA). As per the Centre for High Technology (CHT), a technical wing of Ministry of Petroleum and Natural Gas, the refining capacity of Indian refineries is projected to increase by about 56 MMTPA by the year 2028.
As per Directorate General of Hydrocarbons (DGH) projected crude oil production is about 31 MMT during 2027-28. Domestic Oil Marketing Companies (OMCs) and refineries import crude oil to meet the domestic POL consumption and POL exports.
Government has adopted a five-pronged strategy comprising increasing domestic production of oil and gas, promoting energy efficiency and conservation measures, giving thrust on demand substitution, promoting biofuels and other alternate fuels/ renewables, EV charging facilities and refinery process improvements for reducing the county’s oil dependence on imported crude oil.
Various steps have been taken by the Government to increase the production of domestic crude oil and bring down imports. These inter-alia include Discovered Small Field Policy, Reforms in Hydrocarbon Exploration and Licensing Policy for enhancing domestic exploration and production of Oil & Gas 2019, Natural Gas Marketing Reforms 2020, Policy to promote and incentivize enhanced recovery methods for Oil and Gas,
Redevelopment of existing matured fields and development of new/marginal fields, Revival of Sick Wells, improving recovery factors through the implementation of Improved Oil Recovery (IOR) and Enhanced Oil Recovery (EOR) techniques, etc. Government has also provided functional freedom to national Oil Companies and promoted wider private sector participation by streamlining approval processes through electronic single window mechanism.
In addition, Government launched National Biofuel Policy, 2018, to boost availability of biofuels in country and use of alternative clean fuels like ethanol, bio-diesel and bio-CNG through schemes for Ethanol Blending, Bio-diesel blending and Sustainable Alternative Towards Affordable Transportation. Ethanol blending in Petrol during the Ethanol Supply Year (ESY) 2021-22 (December 2021-November 2022) is estimated to have had impact of over Rs. 22,600 Crore on the import bill of crude oil and petroleum products.
The National Policy on Biofuels – 2018 as amended targets 20% blending of ethanol in petrol by ESY 2025-26. Public Sector OMCs have already achieved over 10% ethanol blending in petrol during Ethanol Supply Year (ESY) 2021-22. Sale of E-20 (20% ethanol blended petrol) fuel has also been launched in February, 2023.
This information was given by the Minister of State in the Ministry of Petroleum & Natural Gas, Shri Rameswar Teli, in a written reply in the Lok Sabha today.
