Indian petrol exports to fall by 2019: Fitch Group’s BMI Research
Q. India’s gasoline or petrol exports will fall by what percentage in 2019, according to Fitch Group’s BMI Research?- Published on 05 Oct 15a. 93%
b. 95%
c. 97%
d. 98%
ANSWER: 98%
Indian gas or petrol exports will lower by 98% in the year 2019, as per Fitch Group’s BMI Research. It will become the second largest importer of gasoline by 2024 after Indonesia. India’s net gasoline exports will decline by 97.8% over 5 years, from 306,800 bpd to 6760 bpd in 2019. Rapid growth in domestic demand in India will drive this decline. India will overtake China, Australia and Malaysia as consumption growth falls in these countries. Rise in domestic demand will create an import outlet for growing gasoline production set to rise 10.3% over the coming 5 years. Currently, India is the largest gasoline exporter in Asia Pacific accounting for majority of exports to Asia and the Middle East. This accounts for half of India’s total refined fuel exports in 2014. India’s refined fuel shipments to Middle East fell by 14.3% over 2013-2014.
