Gulf Oil and Gas accountACCOUNT

India & Indonesia Oil Demand in September 2012

Source: OPEC 9/29/2012, Location: Asia

The effect of India’s total massive power shut-down has been seen in the country’s diesel demand. The country’s effort to keep up with summer heat, along with excessive uploads to the electricity line, has crippled the entire system on several occasions. The fall of the grid left 600 million people without electricity. This has led to the use of independent diesel-operated power generation. As a result, diesel usage increased massively by 13% in July, adding another 0.17 mb/d to the country’s total diesel use. Diesel consumption in India is attributed to transportation, industry and agricultural sectors. In general, like the rest of Asia, the summer is high season for oil consumption in India. Despite fuel switching to gas in some of the country’s industrial and power plants, India’s oil demand grew by a strong 9.4% or 0.3 mb/d y-o-y in July.

According to the Society of Indian Automobile Manufacturers (SIAM), domestic passenger car sales increased robustly for another month by 11% during July. Sales were boosted mainly by growth in utility vehicle sales (57.4%), denoting the highest monthly growth in two-and-half years. Since utility vehicles are diesel driven, it is one of the significant indicators that the number of diesel vehicles on the road is on the rise.

Indonesian oil demand grew by 3.1% in June y-o-y adding another 40 tb/d to the country’s total oil demand. This came about despite the decline in both diesel and fuel oil use. Gasoline demand inched up by 10.2 % in June, leading to a total consumption of half a million barrels. As for the entire year, Indonesia will consume 1.4 mb/d, denoting growth of 22 tb/d. Taiwan oil demand has been on the decline since the fourth quarter of 2010. There were only a few months where consumption showed an increase; other than that, economic activities are suppressing the use of oil in the industrial sector. In the first six months of the year, Taiwan oil demand slid by 12.4% y-o y. Most of the decline was related to less use of fuel oil. Given the strong oil demand by India, Other Asia’s oil demand growth is estimated at 0.22 mb/d y-o-y in 2012.

Financials and Investment News in India >>

United Kingdom >>  6/4/2020 - UK Oil & Gas PLC plans to carry out the following material actions designed to further strengthen the Company's overall financial and oil production p...
Argentina >>  6/3/2020 - Transaction Highlights: ...

United Kingdom >>  6/1/2020 - Seadrill Limited announces its intention to delist from the New York Stock Exchange (NYSE).

On March 26, 2020, Seadrill received written n...

Congo >>  5/28/2020 - Zenith Energy Ltd., the international oil & gas production company focused on African development opportunities , is pleased to announce that the TSX...

Norway >>  5/28/2020 - Siem Offshore Inc. has on 26 May 2020 entered into an agreement with the group's secured lenders in Europe and Norway for a standstill agreement for t...
Singapore >>  5/28/2020 - Tap Oil Limited has entered into commodity hedging instruments with BP Singapore Pte Limited. ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

India Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.