Question

According to the Report of International Energy Agency (IEA), by which year is India's energy demand expected to double?

• A. 2030
• B. 2040
• C. 2050
• D. 2060

Answer 1

Answer:

B. 2040

International Energy Agency (IEA)

• The International Energy Agency (IEA) is an autonomous intergovernmental organization established in the framework of the Organisation for Economic Co-operation and Development (OECD) in 1974 in the wake of the 1973 oil crisis.
• The IEA was initially dedicated to responding to physical disruptions in the supply of oil, but its role has expanded over the years.
• The IEA examines the full spectrum of energy issues, including oil, gas, and coal supply and demand, renewable energy technologies, electricity markets, energy efficiency, access to energy, demand-side management, and more.

India’s Demand for Energy according to the Report of International Energy Agency (IEA)

• The country’s demand for energy is set to double by 2040, and its electricity
  demand may triple.
• Indian oil consumption is expected to grow faster than that of any other major
  economy (including China).
• This makes further improving energy security a key priority for India’s economy.
• India's oil demand is expected to reach 6 million barrels per day (bpd) by
  2024 from 4.4 million bpd in 2017
• Still the  domestic production of oil is expected to rise only marginally, making the country more reliant on crude imports and more vulnerable to supply disruption in the Middle East.
• India's oil refining capacity is expected to rise to 5.7 million bpd by 2024.