Indian gasoline demand to peak by 2035, says top refiner Indian Oil
Indian gasoline demand to peak by 2035, says top refiner Indian Oil By Nidhi Verma
GOA, India, Oct 28 (Reuters) - Indian gasoline demand is set to peak by 2035 as electric vehicles gain ground, ethanol blending continues and more cars run on gas, the chairman of state-run refiner Indian Oil Corp IOC.NS said on Wednesday.
"Motor spirit is feeling pressure from all sides, that's one area of concern," A S Sahney said at an industry event.
In contrast, diesel and jet fuel consumption would continue to grow backed by industrial expansion and the aviation sector.
He said demand for bottom heavy grades such as fuel oil and petcoke, which account for 30% of refining yield, would also rise.
Separately, he said IOC was evaluating different technologies such as small modular reactors, adding a final decision depended on commercial viability.
(Reporting by Nidhi Verma; Editing by Stephen Coates)
((Mohi.Narayan@thomsonreuters.com; https://twitter.com/_mohi_;))
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