Historically the demand of petroleum products has been
increasing at an average rate of 7.5 percent per year (last 4 years 4.25 %).
The long term growth estimate have been forecast to range between at 4.5 to 5 %.
The maximum growth of 9% has been forecast in oil and gas consumption in the Transport
sector. The consumption of furnace oil however, is expected to double the
existing infrastructure in the country is not adequate to bear the burden of
the large volumes which are envisaged at the term of this millennium. For
storage, transportation and distribution of the additional quantities of oil,
additional facilities on the continuing basis need to be introduced before the
existing facilities become so incapable that the consumers bear the cost of Shortages
& non-availability in the market. In Addition to the Injection of adequate
and modern Facilities, the consumer will look for innovative marketing
techniques and safe and friendly products to satisfy their sophisticated
demands & concern about pollution and ecological imbalance. The petroleum
industry must prepare itself to meet the challenges of free market and
discerning consumers of the new era.
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