Hindustan Petroleum Corporation Ltd has commissioned a new residue upgradation facility at its Visakhapatnam refinery. This facility significantly boosts the refinery’s ability to convert low-value oils into high-value petroleum products. The project enhances India’s refining complexity and reduces reliance on imported fuels.
US oil companies face significant hurdles in reviving Venezuela’s oil sector, despite President Trump’s optimism. Industry executives highlight the need for political stability and legal certainty before companies will commit billions, citing past expropriations and entrenched bureaucratic interests as major deterrents.
A US-led takeover of Venezuela’s oil sector could benefit India by unlocking nearly USD 1 billion in long-pending dues and reviving crude production from its operated fields. Sanctions easing after President Maduro’s removal would allow ONGC Videsh to resume operations and recoup past investments, potentially restoring significant oil flows to Indian refineries.
ONGC is launching a pilot project to store captured carbon dioxide underground at its Gandhar oilfield in Gujarat. This initiative marks a significant step in the company’s plan to reduce emissions. The project will inject CO2 into abandoned wells, preventing it from entering the atmosphere.
The country produces around 900,000 barrels per day of crude – about 1% of the global supply. Of the roughly 765,000 bpd it exports, nearly 76% goes to China, exclusively to teapot refiners, according to Kpler.
India’s NTPC is exploring a significant investment. The state-owned power giant is in discussions to acquire a minority stake in US firm Clean Core Thorium Energy. This move aligns with NTPC’s ambitious plans to expand its nuclear power capacity. The company is looking at international collaborations for technology and fuel.
Torrent Gas announced price cuts for CNG and domestic PNG. This move follows the implementation of the Unified Tariff order. The reduction will make CNG significantly cheaper than petrol. Households using PNG for cooking and CNG vehicle owners will see reduced expenses. This initiative is expected to boost PNG connections and CNG vehicle sales.
India is requesting weekly disclosures of Russian and U.S. oil purchases from refiners, aiming to secure a trade deal with Washington. This move comes as Russian oil imports are expected to fall below 1 million barrels per day, a decline from their June peak. The government seeks accurate data to present to the U.S. amidst…
Adani Total Gas Ltd (ATGL) has reduced CNG and domestic piped natural gas prices by up to Rs 4 across multiple markets. This follows a tariff reform by PNGRB, simplifying gas transportation charges and lowering input costs for distributors. The move aims to make natural gas more affordable and accelerate cleaner fuel adoption.
Reliance Industries has resumed modest purchases of Russian crude after a brief halt due to US scrutiny. Three tankers carrying nearly 2.2 million barrels of Urals are en route to its Jamnagar plant for domestic fuel production.