Page 20 - Policy & Economic Report - June 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

• Top 5 import sources, in terms of change in value, exhibiting growth in May 2025 vis a vis May
2024 are China P Rp (21.61%), U Arab Emts (27.64%), Nigeria (89.56%), Hong Kong (29.3%), and
Japan (24.32%).

• Top 5 import sources, in terms of change in value, exhibiting growth in April-May 2025 vis a vis
April-May 2024 are U Arab Emts (52.08%), China P Rp (24.23%), U S A (25.8%), Ireland (287.99%)
and Hong Kong (38.5%).

6. India slips to 71st spot on Energy Transition Index

• The Fostering Effective Energy Transition 2025 report, developed in collaboration with Accenture,
benchmarked the performance of energy systems of 118 countries across three performance
dimensions security, sustainability, and equity and five readiness factors -- political commitment,
finance and investment, innovation, infrastructure, and education and human capital.

• It noted that despite USD 2 trillion in clean energy investment in 2024, emissions hit a record 37.8
billion tons in the hottest year on record, as energy demand rose 2.2 per cent driven by artificial
intelligence (AI), data centers, cooling, and electrification.

• According to World Economic Forum, India has been ranked 71st on a global Energy Transition
Index.

• Sweden topped the list of 118 countries, followed by Finland, Denmark, Norway, and Switzerland
in the top five. China was ranked 12th; the US was 17th and Pakistan at 101st place. Congo was
ranked lowest.

• While India's rank has fallen from 63rd last year, the WEF said India and China experienced the
greatest overall improvement among large economies, especially in increasing access to energy
and strengthening transition readiness.

• The WEF said the top five largest economies China, the US, EU, Japan, and India will ultimately
determine the pace and direction of the global energy transition due to their sheer size. Together,
they account for around half of the global GDP, population, and total energy supply (TES), and
nearly two-thirds of global emissions, giving them an outsized influence through their
consumption patterns, investment flows and policy choices.

• Over the past decade, India has made significant strides in increasing equity through greater
access to energy and clean fuels, while also improving energy regulations and investment in
renewable and other clean-energy technologies. India also made progress in lowering energy
intensity and CH4 emissions, creating more favourable energy regulations and increasing clean
energy investments.

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