Loading Posts...

India becomes third biggest oil consumer

According to BP Statistical Review of World Energy, India has surpassed Japan to become the world’s third ­largest oil consumer, with its oil demand galloping 8.1 percent in 2015. With demand of 4.1 million barrels per day, India is the third ­largest consumer behind US (19.39 million bpd) and China (11.96million bpd). India accounted for 4.5 percent of world oil consumption in 2015.

India’s demand growth surpassed China’s 6.3 percent expansion. US oil consumption grew 1.6 percent, which accounts for 19.7 percent of the total world consumption of 95 million bpd in 2015.

Japan slipped to the fourth spot after its oil usage contracted 3.9 percent to 4.15 million bpd in 2015. In 2014, it used 4.3 million bpd, ahead of India’s 3.84 million bpd.

Global demand for primary energy grew only 1 percent in 2015, which is significantly slower than the 10­ year average. This reflected continued weakness in the global economy and lower growth in Chinese energy consumption as the country shifts from an industrial to a service ­driven economy.”

Oil remained the world’s leading fuel, accounting for 32.9 percent of global energy consumption and is gaining market share for the first time since 1999. Coal came in as the second­ largest fuel by market share (29.2 percent). Natural gas’ market share of primary energy consumption stood at 23.8 percent.

0
AgreeAgree
0
DisgreeDisgree
Voted Thanks!
Loading Posts...