Hotels and restaurants across India face higher operating costs. Commercial cooking gas prices saw a Rs 111 rise on January 1, 2026. A 19-kg cylinder in Delhi now costs Rs 1,691.50. Mumbai prices also climbed. Kolkata and Chennai experienced significant price hikes. This impacts service operators nationwide.
Russia-backed Indian refiner Nayara Energy has named a new chief executive after its previous CEO resigned following European Union sanctions that targeted the company, four sources with knowledge of the matter said on Friday.
Petrol Diesel Price Increase: Fuel prices have risen nationwide. Petrol and diesel rates saw an increase of up to Rs 3 per litre. In Delhi, petrol now costs Rs 97.77 and diesel Rs 90.67. This adjustment by oil marketing companies reflects global crude oil market volatility. The hike will affect household budgets and transport costs,…
India’s ambitious oil and gas policy has failed to boost domestic production. Despite billions invested and extensive exploration, only one marginal field is producing. Experts question the policy’s effectiveness. Geological challenges and a shift in risk to companies deter global investment. The government continues auctions, but state-run firms dominate. This situation highlights India’s ongoing dependence…
Iran’s chief negotiator in talks with the United States warned on Tuesday that his country has “not even started” in its standoff over the Strait of Hormuz. “We know full well that the continuation of the status quo is intolerable for America; whilst we have not even started yet,” Mohammad Bagher Ghalibaf said in a…
Global oil stocks are depleting rapidly. The Iran war is worsening supply disruptions. This situation will continue for months. The market faces a severe shortage until October. Oil prices are under pressure. Demand is also falling sharply. This is the steepest drop since the Covid pandemic. Some signs suggest the drawdown may be slowing.
India is poised to increase its reliance on West Asian oil suppliers like Saudi Arabia, the UAE, and Iraq, as the US intensifies pressure on Russian crude imports. This shift comes as discounts on Russian oil narrow and the US imposes higher tariffs. While Russian oil imports will continue, India aims to diversify its sources…
Reliance Industries reported strong growth in its Oil-to-Chemicals (O2C) business in Q1 FY26, with EBITDA rising 10.8% year-on-year, driven by improved domestic fuel retail margins, a recovery in transportation fuel cracks, and better petrochemical spreads. However, O2C revenue declined 1.5% due to lower crude prices and reduced volumes amid a planned shutdown.
State-owned oil companies have seen their daily losses reduce to under Rs 600 crore. This comes after four rounds of petrol and diesel price increases. Previously, losses stood at about Rs 1,000 crore daily. These figures include losses from domestic LPG sales. Fuel prices were frozen despite rising crude oil costs.
The Indian Sugar & Bio-Energy Manufacturers Association (ISMA) defends the E20 ethanol blending program, dismissing claims of vehicle engine damage as misleading. ISMA highlights the program’s benefits for farmers, the economy, and the environment, citing successful implementation in Brazil. The initiative is expected to save India a significant amount in foreign exchange by reducing crude…