Increased gas use could reduce diesel demand, says Indian Oil executive
On Wednesday, India`s biggest state-owned refiner Indian Oil Corp Ltd said that a gradual rise in India`s natural gas consumption could reduce local diesel demand.
India`s biggest state-owned refiner Indian Oil Corp Ltd said on Wednesday that a gradual rise in India`s natural gas consumption could reduce local diesel demand. "Rising use of gas to begin denting diesel demand in five to seven years," said B.V. Ramagopal, the director of refineries at Indian Oil.
Keeping in mind the increasing demand of natural gas in the country, the company is currently in the process of expanding its natural gas business, said Ramagopal.
Watch This Zee Business Video Here:
Indian Oil is building up a liquefied natural gas terminal in the eastern coast of India and has been aggressively bidding for city gas distribution projects in the last few months.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.