India's oil consumption to be fastest in world by 2035: Survey

Latest News - Having pipped Japan to become world's third largest oil consumer, India's oil consumption growth will be the fastest among all major economies by 2035, BP Statistical Review of World Energy said.

India, Asia's second-biggest energy consumer since 2008, had in 2015 overtaken Japan as the world's third-largest oil consuming country behind US and China.

"We project that India's energy consumption grows the fastest among all major economies by 2035. As a result, the country remains import dependent despite increases in production," it said.

While energy consumption will grow by 4.2 per cent per annum — faster than all major economies in the world — India's consumption growth of (Read More)