Petroleum

Oil and gas regulator PNGRB has approved a proposal by the Indian Gas Exchange (IGX) to introduce a platform for listing and booking unutilised liquefied natural gas (LNG) regasification capacity, in a move aimed at improving infrastructure utilisation and widening access to the country's gas market. The Petroleum and Natural Gas Regulatory Board (PNGRB) said the voluntary platform would allow LNG terminal operators and capacity holders to list unused capacity, enabling prospective users to identify and book available slots according to their requirements. The initiative comes as several LNG terminals report low capacity utilisation, leaving scope to attract additional cargoes by offering unused regasification capacity at competitive charges. Regasification is the process of converting LNG, transported in liquid form, back into gas for supply through pipelines. The platform is expected to improve price discovery for regasification services by providing a transparent mechanism throug

In the draft Bill, the government proposes to decriminalise licenses breaches, while introducing specific criminal offences and higher penalties for unauthorised activities

The draft Petroleum Amendment Bill seeks to replace criminal liability for minor licence breaches with civil penalties while creating specific offences for serious violations

India's petroleum exports rose 46 per cent year-on-year as better terms of trade, recovering volumes and shipments to newer markets boosted overall merchandise export growth

US secondary sanctions on Iran could further hit India's basmati exports, while disruptions in the Strait of Hormuz threaten freight costs and crude-oil supply risks

Oil sector regulator has authorised the development of nearly 1,800 km of new LPG pipelines at an estimated investment of Rs 7,000 crore, expanding the country's common-carrier LPG pipeline network by almost a quarter as it seeks to make fuel supplies more resilient and reduce dependence on road transport. The Petroleum and Natural Gas Regulatory Board (PNGRB) has approved three strategically important LPG pipeline projects across Telangana, Maharashtra, Uttar Pradesh, Uttarakhand, Karnataka and Goa, the regulator said in a statement. The projects, to be developed by state-run GAIL (India) Ltd, will take the PNGRB-authorised common-carrier LPG pipeline network from about 7,700 km to nearly 9,500 km, an increase of around 23.5 per cent. The expansion comes as India relies heavily on imported LPG, with bulk supplies arriving at coastal import terminals and then being transported to consumption centres across the country. A larger pipeline network is expected to improve the efficiency

The court upheld the Centre's refusal to extend Vedanta's production sharing contract, citing unilateral deductions from the government's share of profit petroleum

Bharat Petroleum Corporation Ltd (BPCL) on Wednesday reported a net loss of Rs 3,962 crore in the June quarter on keeping petrol, diesel and LPG prices way below cost that had soared due to the West Asia crisis. The net loss of Rs 3,962.13 crore in April-June - the first quarter of current 2026-27 fiscal year - compared with a profit of Rs 3,333.97 crore in the same period a year back, according to a stock exchange filing by the company. BPCL and other state-owned fuel retailers - Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL) - held petrol and diesel prices steady for two-and-half-months despite a more than 50 per cent surge in prices of crude oil - the raw material for making petrol and diesel - after the US and Israel attacked Iran on February 28 and Tehran retaliated. And when these companies increased prices by over Rs 7.50 a litre in the second half of May, it wasn't enough to cover for the cost. The cooking gas price increase of Rs 89 per 14.2-kg

ONGC has approved a 1.75 MT strategic petroleum reserve in Mangaluru, expanding India's emergency oil storage capacity amid heightened global supply risks

The two countries will cooperate on strategic petroleum reserves, maritime energy transport and upstream investments to strengthen energy resilience amid geopolitical uncertainty

India's merchandise exports rose 18 per cent year-on-year in May to a record-high of $45.20 billion, driven by strong petroleum and engineering goods exports, and recovery in shipments to West Asia

Fisme plans to seek relief for micro and small enterprises, saying new restrictions on diesel purchases from retail outlets could disrupt operations of DG sets

There is no alternative but to give the correct pricing signal to the market and consumers. Appeals and calls for conservation won't work

After more than seven years of delay, Odisha hands over land for Chandikhol oil reserve project, paving the way for construction of a 4 million tonne strategic crude storage facility

HPCL raised premium petrol prices by ₹2 per litre, while regular petrol and diesel rates remain unchanged

Public-sector firm seeks help from Independent MLA to start work

Strategic reserves offer limited cover as shipping disruptions slow the arrival of replacement barrels

US and Israeli strikes that killed Ayatollah Ali Khamenei have deepened open conflict with Iran and rattled West Asia, disrupting sea routes via Strait of Hormuz, fuelling oil price spike

Trump announced a trade deal with India that slashes US tariffs on Indian goods to 18% from 50% in exchange for India halting Russian oil purchases and lowering trade ​barriers

HPCL's earnings growth is set to accelerate as major projects like Vizag RUF come on stream, capex intensity falls, and operating efficiencies improve despite near-term risks