Oil And Gas

Reliance Industries was the biggest dragger on the Nifty Oil & Gas Index, while ONGC helped limit the losses on Tuesday.

Sales of gasoline, or petrol, totalled 3.52 million tons, easing 4.1% from October but 2.6% higher than the same month last year

India's top refiner, IOC, has also bought some cargoes of Russian oil for January loading, they said

According to Nuvama, the outlook for OMCs is clouded by high capital expenditure commitments and rising under-recoveries, which are set to keep return ratios suppressed.

At 12:35 PM, ONGC shares were trading 1.66 per cent higher at ₹253.60 per share. By comparison, BSE Sensex was trading 0.82 per cent higher at 84,559.73 levels.

To boost natural gas adoption, a PNGRB expert panel has recommended restoring APM gas allocation for CNG, including gas under GST, and recognising it as a cleaner fuel in the scrappage policy

On the bourses around 10:15 AM, Petronet LNG shares were struggling as the scrip was trading 1.31% lower at ₹273.95. In comparison, BSE Sensex was trading 0.29% lower at 83,289.99 levels.

The gas regulator suggests India's top distributor switch to electric compressor motors to cut costs as GAIL seeks a tariff hike amid higher gas prices

Oil Secretary Pankaj Jain says India's credibility is at stake if it fails to find a major oil and gas reserve soon, urging faster, technology-driven exploration efforts

In a setback for mining baron Anil Agarwal's group, the government has rejected Vedanta group firm's application for extension of contract for a key Cambay basin oil and gas block. Vedanta Cairn Oil and Gas, a unit of Mumbai-listed Vedanta Ltd, was the operator of the Gujarat offshore block CB-OS/2 with a 40 per cent stake. State-owned Oil and Natural Gas Corporation (ONGC), which holds 50 per cent interest in the block, in a stock exchange filing, said the Ministry of Petroleum and Natural Gas has, in a September 19 letter, told the partners that the application for extension of the production sharing contract (PSC) for CB-OS/2 has not been accepted. ONGC, which has been asked to take over the operations in the interim period, did not state the reason for the move. PSC is an agreement between the government and a resource extraction company. It gives the company time-specified right to explore, develop and produce resources in exchange for a pre-agreed share of the produced output

The Supreme Court sought a response from the government and OMCs on a petition by biodiesel producers citing poor off-take, policy lapses and heavy losses despite set targets

From the consumer point of view, the transition needed better management

The IEA will publish its "Current Policy Scenario" this year, showing oil and gas demand won't peak this decade, overturning past assumptions, sources familiar with the draft report said

H Shankar elevation comes amid the Indian Oil Corporation (IOCL) arm's plan to foray into the fuel retail business and line up expansion plans

Oil and gas exploration and production will cost more after the GST Council approved raising the tax on services rendered for the same to 18 per cent from the current 12 per cent. The new tax rates will be effective from September 22. Services relating to exploration, mining or drilling of petroleum crude or natural gas have been increased to 18 per cent with input tax credit (ITC), according to an official note. The same has also been done for support services to exploration, mining or drilling of petroleum crude or natural gas or both. The increase in GST "would lead to an increase in the cost of production of crude oil and natural gas," said Prashant Vasisht, Senior Vice President and Co-Group Head, Corporate Ratings, Icra Ltd. As crude oil and natural gas are outside the purview of GST, an increase in the cost of production without an offset available on the sale of these products will lead to stranded taxes, he said. "As oil and gas prices have moderated significantly since

National Deepwater Mission aims to boost hydrocarbon output, cut imports

On a standalone basis, ONGC's gross revenue dropped 9.3 per cent Y-o-Y to ₹32,003 crore, while net profit fell 10.2 per cent to ₹8,024 crore from ₹8,938 crore last year.

The company said its proposed merger with AG&P Pratham will be completed by the first half of 2026

Trump Sanctions On Russian oil puts the squeeze on India's Biggest Crude Supplier

The orders span transmission lines in Saudi Arabia, cable supply in multiple markets, and a second oil & gas terminal contract in Africa, taking total YTD order inflow past ₹4,200 crore