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Demonetization and GST take the wind out of consumption, admits government
Aug 31:
Twin attacks by way of demonetization and the imposition of GST have taken the wind out of POL consumption so far this year, according to a government study.
8Overall consumption grew a mere 1.1% in the month of July 2017. The demand for all oil products rose to 15.8 MMT during the month from 15.6 MMT a year ago.
8Between April-July, 2017, consumption limped up by 2.5%
8But interesting trends can be discerned from the available data: transportation fuels like petrol and diesel continued to grow but industrial fuels witnessed a slump
LNG imports decline in July
8Consumption of gas went up in July but a combination of higher domestic production and depressed industrial demand meant that LNG imports were down.
8The outlook for LNG imports looks opaque when juxtaposed with the possibility of a sharp rise in domestic production when combined with lackluster industrial growth. Unless there is a step function increase in gas consumption, either by making it viable for gas based power plants or by banning dirty liquid fuels in industrial furnaces, the outlook for LNG will continue to be cloudy.
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8Overall consumption grew a mere 1.1% in the month of July 2017. The demand for all oil products rose to 15.8 MMT during the month from 15.6 MMT a year ago.
8Between April-July, 2017, consumption limped up by 2.5%
8But interesting trends can be discerned from the available data: transportation fuels like petrol and diesel continued to grow but industrial fuels witnessed a slump
LNG imports decline in July
8Consumption of gas went up in July but a combination of higher domestic production and depressed industrial demand meant that LNG imports were down.
8The outlook for LNG imports looks opaque when juxtaposed with the possibility of a sharp rise in domestic production when combined with lackluster industrial growth. Unless there is a step function increase in gas consumption, either by making it viable for gas based power plants or by banning dirty liquid fuels in industrial furnaces, the outlook for LNG will continue to be cloudy.
Click on Reports for more
