Oil Minister Hardeep Singh Puri said state-run oil companies are facing mounting losses from frozen fuel prices amid rising crude oil costs and geopolitical tensions
The government said India has adequate fuel supplies and stable prices despite rising global energy costs and mounting losses for oil marketing companies
State-run oil firms face mounting under-recoveries as crude prices remain above $100 per barrel amid the US-Iran conflict and Strait of Hormuz disruptions
S&P Global said India requires a comprehensive energy storage policy to tackle supply disruptions amid high dependence on crude oil, LNG and LPG imports
Reliance Industries is likely to begin maintenance shutdown at its Jamnagar refinery after Nayara Energy resumes operations, amid efforts to ensure fuel supplies
The move comes as India faces critical challenges in meeting the country's energy requirements amid the West Asia crisis, highlighting high energy import dependency and lack of storage infrastructure
OMCs raise commercial LPG prices sharply amid rising crude costs, while domestic LPG and petrol-diesel rates remain unchanged; ATF for international flights also revised
Supply disruptions in West Asia and Strait of Hormuz closure prompt India to recalibrate sourcing, with Venezuela and Brazil replacing Iraq and the US in April
Rating agency flags divergence between global and domestic oil demand trends as imports outpace exports, putting pressure on India's overall trade balance
State-run oil firms may face steep LPG under-recoveries in FY27 due to high global prices and supply disruptions, with broader cost pressures seen across energy-linked sectors
The UAE, with capacity of around 4.8 million barrels per day, has long been one of the most influential and compliant members of Opec+, and is currently the fourth-largest producer in the alliance
The jump in subsidies is expected as the country plans to import 6.4 million tonnes of urea and 1.9 million tonnes of other fertilisers this kharif season at high prices
