Oil And Gas

Refining boost isn't enough; Nuvama turns selective on Oil & Gas for FY26

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.

ONGC Q2 show misses estimates on higher costs; brokerages remain cautious

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.

Restore APM allocation for CNG sector, include gas under GST regime: Panel

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

Petronet Q2: Analysts upbeat on long-term outlook despite FX loss, UoP hit

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.

PNGRB urges GAIL to phase out gas turbines, adopt electric motors

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

India needs to make a big oil and gas discovery soon: Oil Secy Pankaj Jain

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

Setback for Vedanta as govt rejects extension of Cambay oil, gas block

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

SC seeks govt, OMCs' reply on biodiesel off-take plea by producers' body

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

Ethanol blending for fuel a welcome move, but transition challenges remain

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

World isn't transitioning away from fossil fuel; decades of robust use left

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

Chennai Petroleum targeting ₹1 trn revenue in next few years: MD Shankar

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

Govt increases GST on exploration, production of oil and gas to 18%

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

Centre to launch first bidding round under Deepwater Mission soon

National Deepwater Mission aims to boost hydrocarbon output, cut imports

Mixed signals after ONGC Q1 nos; what's the best move for investors now?

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.

THINK Gas to invest ₹10,000 cr, aims for top spot in city gas distribution

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

Trump tariffs on Russian oil put squeeze on India's biggest crude supplier

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

KEC International bags ₹2,211 crore orders across T&D, cables, pipelines

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

Chennai Petroleum to set up retail fuel outlets; commits Rs 400 cr capex

IndianOil Group company Chennai Petroleum Corporation Ltd coinciding with its Diamond Jubilee year has embarked on a journey to set up retail outlets to sell petrol and diesel, a top official said on Tuesday. The company, which has been producing fuel at its refineries located near the city, has earmarked Rs 400 crore as capital expansion towards this cause. "We are embarking on a journey to set up retail outlets. Long back about 20 years back, CPCL had one standalone outlet in Sriperumbudur. Now, we are again venturing into this strategic growth path. So this is one exciting journey we are taking now. We want to see that during this Diamond Jubilee year, we will be able to establish some diamond jubilee outlets that is a target we are working on," CPCL Managing Director H Shankar told reporters. Declining to elaborate on the number of outlets planned initially, he said during the Diamond Jubilee celebrations the company would be in a position to launch the first round of retail ...

15 states sue Trump over emergency order to fast-track oil, gas projects

A coalition of 15 states is suing over President Donald Trump's efforts to fast-track energy-related projects, saying the administration is bypassing environmental protection laws and threatening endangered species, critical habitat and cultural resources. Trump issued an executive order declaring a national energy emergency on the first day of his presidency. The order urges oil and gas expansion through federal use of eminent domain and the Defense Production Act, which allows the government to use private land and resources to produce goods deemed to be a national necessity. Those kinds of steps are supposed to be reserved for actual emergencies, such as projects needed in the aftermath of disasters like hurricanes, flooding or major oil spills, the attorneys general wrote in the lawsuit filed in Washington state on Friday. But now, Washington state Attorney General Nick Brown and the other plaintiffs said, agencies like the US Army Corps of Engineers and the Department of Interi

Reliance-ONGC-BP alliance wins Gujarat offshore block for exploration

In an unprecedented alliance, ONGC, Reliance, and BP won a Gujarat offshore block under OALP-IX. ONGC secured 15 blocks overall, while Vedanta won 7 out of 28 blocks offered in the latest bid round