Oil Marketing Companies (OMCs) saw a significant reduction in LPG under-recoveries during Q1 FY26, decreasing by approximately 35% due to price hikes and moderated sourcing costs. Despite this improvement, under-recoveries remained substantial, leading to a cumulative burden.
Bharat Petroleum Corp plans to invest ₹95,000 crore in a new greenfield oil refinery and petrochemical complex near Ramayapatnam Port in Andhra Pradesh. The facility will refine 9 million tonnes of crude oil annually and expand BPCL’s petrochemical portfolio. This investment aligns with India’s vision of becoming a global refining and petrochemical hub.
Bharat Petroleum Corporation Ltd is considering establishing a greenfield oil refinery and petrochemical complex near Ramayapatnam Port in Andhra Pradesh to meet India’s growing energy demands. The company is evaluating the project’s feasibility, anticipating a significant expansion of its refining infrastructure. BPCL aims to achieve net-zero emissions by 2040 and is investing heavily in renewable…
India’s crude oil imports fell 8.7% in July to 18.56 million tons—the lowest since February 2024—while fuel demand also dropped 4.3%. Year-on-year, crude imports declined 4.3% and product imports 12.8%. The fall may reflect U.S. tariff threats over Russian oil purchases. India plans to address U.S. trade ties openly, even as refiners resume discounted Russian…
India’s Ambassador to Russia, Vinay Kumar, has criticized the US decision to increase tariffs on Indian imports due to New Delhi’s purchase of Russian oil, deeming it unfair. India will continue to prioritize its energy security by securing the best deals on oil, while also focusing on expanding exports to Russia in sectors like electronics…
State-owned fuel retailers IOC, BPCL and HPCL posted a combined profit of Rs 16,184 crore in Q1 FY26, more than two-and-a-half times higher than last year, helped by strong petrol and diesel marketing margins despite crude oil price declines.
Sanctions imposed by the EU and the US are affecting Nayara Energy’s EPC work, leading Technip Energies and PT Timas Suplindo to withdraw from tenders. This is due to Rosneft’s significant stake in Nayara Energy, even though the company isn’t directly sanctioned. Nayara Energy may now seek domestic and other regional EPC players to complete…
External Affairs Minister S Jaishankar defended India’s energy ties with Russia, asserting that oil purchases serve both national and global interests by stabilizing prices. He emphasized India’s independent decision-making amid ongoing trade discussions with the United States, highlighting the commitment to protect the interests of farmers and small businesses.
City gas companies anticipate compressed biogas (CBG) and liquefied natural gas (LNG) will drive India’s clean energy transition in the next decade. IGL is setting up CBG plants, while also pushing for LNG adoption in the transport sector. India’s renewable energy achievements position it as a global solar leader, emphasizing the need for decarbonization in…
External Affairs Minister S. Jaishankar defended India’s Russian oil imports, highlighting that China and the EU are larger buyers and that India is contributing to global energy stability, as encouraged by the U.S. He questioned the criticism directed at India, noting that its trade with Russia has not surged disproportionately and oil imports from the…