+
IEA forecasts deceleration in India's oil demand growth by 2024
OIL & GAS

IEA forecasts deceleration in India's oil demand growth by 2024

The International Energy Agency (IEA) anticipates a moderation in the growth of India's oil product demand by the year 2024. The forecast signals a shift in the trajectory of India's energy consumption patterns and reflects evolving dynamics in the country's economic and energy landscape.

According to the IEA, factors contributing to the deceleration include evolving energy policies, increasing adoption of renewable energy sources, and advancements in energy efficiency measures. The projections align with global trends as nations worldwide strive to balance energy demands with sustainability objectives.

While India continues to be a significant player in the global energy market, the IEA's outlook suggests a strategic transition toward more sustainable and diverse energy sources. The expected slowdown in oil demand growth indicates a maturing energy landscape, where considerations of environmental impact and long-term sustainability play an increasingly pivotal role.

This projection underscores the need for continued investment and policy emphasis on renewable energy infrastructure and efficiency measures. The evolving energy scenario presents both challenges and opportunities for India to navigate as it strives for a balance between meeting growing energy demands and embracing a greener and more sustainable future.

The International Energy Agency (IEA) anticipates a moderation in the growth of India's oil product demand by the year 2024. The forecast signals a shift in the trajectory of India's energy consumption patterns and reflects evolving dynamics in the country's economic and energy landscape. According to the IEA, factors contributing to the deceleration include evolving energy policies, increasing adoption of renewable energy sources, and advancements in energy efficiency measures. The projections align with global trends as nations worldwide strive to balance energy demands with sustainability objectives. While India continues to be a significant player in the global energy market, the IEA's outlook suggests a strategic transition toward more sustainable and diverse energy sources. The expected slowdown in oil demand growth indicates a maturing energy landscape, where considerations of environmental impact and long-term sustainability play an increasingly pivotal role. This projection underscores the need for continued investment and policy emphasis on renewable energy infrastructure and efficiency measures. The evolving energy scenario presents both challenges and opportunities for India to navigate as it strives for a balance between meeting growing energy demands and embracing a greener and more sustainable future.

Next Story
Real Estate

Jenika Ventures Sets Rs 6 billion Sales Target for Q2 FY25

Jenika Ventures, a leading real estate consulting firm, has set an ambitious sales target of Rs 6 billion for the second quarter of FY25. This target reflects the firm’s strategic growth approach, robust market presence, and continued focus on offering value-based real estate solutions across India. With India’s real estate sector regaining momentum post-pandemic, Jenika Ventures is leveraging its market expertise, curated project portfolio, and strong industry relationships to capitalise on the recovery. The Q2 FY25 target aligns with the company’s data-driven planning, customer-ce..

Next Story
Infrastructure Energy

UERC Rejects Pleas Over Cancelled 200 MW Solar Awards

The Uttarakhand Electricity Regulatory Commission (UERC) has rejected review petitions filed by 12 solar developers against the cancellation of Letters of Award (LoAs) issued under the state’s 200 MW Solar Programme.The scheme, launched by the Uttarakhand Renewable Energy Development Agency (UREDA) under the 2013 solar policy, aimed to help Uttarakhand Power Corporation Ltd (UPCL) meet its renewable purchase obligations through tariff-based competitive bidding.The projects—classified under the Type I category—had original commissioning deadlines in 2019–2020, later extended multiple ti..

Next Story
Infrastructure Energy

Solarium Wins Rs 266 Million Rooftop Solar Orders

Solarium Green Energy has secured two significant work orders valued at a combined Rs 266 million for rooftop solar projects across various locations in the Northeastern States, under the Ministry of Home Affairs.The first order, worth approximately Rs 129.8 million, was awarded by NTPC Vidyut Vyapar Nigam Limited (NVVN) for the development of a 3,319 kW rooftop solar photovoltaic (PV) project. This was tendered under the NVVN’s “Selection and Discovery of L1 Rates for Rate Contract for EPC of Grid Connected Rooftop Solar PV Projects (51–200 kW) across India”. The project is scheduled ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?