India’s Energy Demand Expected to Grow 5% with 7% GDP Expansion: HPCL CMD

India’s energy demand is projected to rise by around 5% if the economy achieves 7% GDP growth, according to Hindustan Petroleum Corporation Ltd (HPCL) Chairman and Managing Director Vikas Kaushal. Speaking at the 12th SBI Banking & Economics Conclave, he emphasised the need for operational efficiency and supply-demand alignment.

Energy Sector Outlook

Kaushal noted that the correlation between economic growth and energy consumption remains strong. He said HPCL is focused on improving operational efficiency to manage volatility and ensure a reliable energy supply for India’s expanding economy.

Market Milestone and Strategy

HPCL recently crossed ₹1 lakh crore in market capitalisation for the first time on October 30. Kaushal highlighted this achievement as a reflection of investor confidence and the company’s long-term strategy to strengthen its position in the energy sector.

Responsible Sourcing and Compliance

Kaushal reiterated HPCL’s commitment to global trade compliance, stating that the company does not purchase sanctioned cargoes and adheres to international regulations. He added that HPCL’s refineries can process about 180 different crude types, enabling diversification and resilience in sourcing.w3

Crude Procurement Flexibility

Kaushal mentioned that U.S. cargoes have become more cost-effective due to larger shipping capacities and lower production costs, enhancing HPCL’s flexibility in crude sourcing. This adaptability supports the company’s efforts to maintain supply security.

Read More: Crude Oil Prices Fall Over 1% to Two-Week Lows.

Conclusion

India’s energy demand is expected to grow in tandem with economic expansion, requiring efficient operations and diversified sourcing strategies. HPCL’s focus on compliance, flexibility, and operational improvements positions it to meet rising energy needs while supporting sustainable growth.

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