Fossil Fuels demand will continue to grow until 2040: MK Surana, HPCL


Fossil Fuels demand will continue to grow until 2040: MK Surana, HPCL

MK Surana, Chairman and Managing Director, Hindustan Petroleum Corporation Limited (HPCL), spoke about the challenge that OMCs will have with EVs, development of Barmer project and marketing margins of the company during an interview with Zee Business’s Anurag Shah. Edited Excerpts:

Q: Don’t you think that EVs, that will be ruling the roads by 2030, will have an impact on the expansion plans of the OMCs? 

A: Experts suggest that the demand for petroleum fossil fuels will continue to grow till 2040 and 2040 can be a pick year for demand. The pick will be supported by non-penetration of EVS at present. It is being said that it, EVs, can create a demand for itself by 2040 and can have a certain impact on the demand for fossil fuel. Otherwise, EVs can take a fraction of the incremental demand but will not be able to suffice the required demand. Read More

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