Oil And Gas

Vedanta Oil and Gas swings to ₹746 crore profit in Q2 despite output dip

Vedanta Oil and Gas reported a ₹746 crore profit in Q2FY27 against a year-ago loss of ₹92 crore, aided by higher price realisations and cost optimisation despite lower production

Venezuelan crude offers Reliance margin boost, but supply is a hurdle

Marco Rubio's meeting with Mukesh Ambani has revived interest in Venezuelan crude, but limited supply and strong global refining margins could constrain Reliance's advantage over rivals

India faces no pressure to halt Russian oil purchases: Hardeep Puri

Union Petroleum Minister Hardeep Singh Puri on Tuesday denied that India was under any pressure to stop buying Russian oil. Indian refiners would purchase crude from suppliers offering the most competitive prices as the country prioritises energy security amid global market uncertainties, he said. India was not particularly buying Russian oil at present, but the decisions in this regard were guided by commercial considerations rather than pressure from any country, he added. "I have never any felt pressure," Puri said during an interaction at the 29th Energy Technology and Innovation Meet which began here on Tuesday. "At the point of negotiation, whoever is supplying a particular grade, we will buy from them. Prices come down sometimes," he said. The minister's remarks come amid international scrutiny of India's purchases of Russian crude, and Western efforts to curb Moscow's oil revenues following Russia's invasion of Ukraine. Referring to the restrictions imposed on two Russia

India's diesel export boom set to ease global fuel shortages in 2027

New refining capacity will boost diesel supplies from India, helping ease global shortages as geopolitical conflicts disrupt fuel flows

Adnoc-backed AIQ secures deal to enter India's oil and gas markets

AIQ will deploy its technology across the refineries, gas stations and digital stores of an Indian oil and gas conglomerate

Welspun Corp soars 9%, hits new high on securing ₹17,200 cr US order

The $1.8 bn (₹17,200 cr) order is positive for Welspun Corp as it substantially strengthens it's multi-year revenue visibility, with execution spread across FY28-FY29, says ICICI Securities.

Oil-and-gas PSUs see first Q1 capex decline in at least five years

Combined capital expenditure by 12 oil and gas PSUs fell 3.8 per cent to Rs 27,161 crore in Q1FY27, led by sharp declines at ONGC and Indian Oil, though experts see the dip as temporary

SC issues notice on Dhoot's plea over Videocon's overseas oil & gas assets

The apex court sought responses to Venugopal Dhoot's appeal challenging the NCLAT ruling excluding Videocon Oil Venture's overseas assets from the insolvency process

Welspun Corp gains 4% in weak market, zooms 129% in 6 months; here's why

Welspun Corp announced receipt of fresh large orders worth ₹1,400 crore for supply of pipes for oil & gas export projects, from its India facility.

FPIs sold finance, oil & gas stocks the most in June's first fortnight

FPIs sold financial, oil & gas and auto stocks heavily in early June amid crude-price volatility, AI concerns and monsoon-related demand worries

Rationalised royalty rates aim to cut costs, boost oil and gas exploration

In a bid to simplify the structure, the government has also introduced a flat deduction formula for wellhead price calculations

Reliance Industries hits 52-week low, stock down 12% in one month

RIL was quoting lower for the ninth straight day, falling 7 per cent during the period after the company expressed caution over FY27 earnings prospects.

First of a few fuel price hikes; markets to remain rangebound, say analysts

The upward revision in prices for both fuels, said Jyotivardhan Jaipuria, founder and managing director at Valentis Advisors, was already expected though the quantum of ₹3 per litre seems too less.

India to invest over $20 bn in offshore energy mapping: Hardeep Singh Puri

The state-run upstream companies have invested over $0.5 billion in seismic data acquisition in the last eight years

Vedanta sets May 1 as record date for long-awaited demerger plan

Vedanta moves ahead with restructuring plan to split into four independent listed entities, with shareholders to receive one share in each business

India-flagged LPG tanker Jag Vikram crosses Hormuz after US-Iran ceasefire

An India-flagged liquefied petroleum gas (LPG) tanker, Jag Vikram, has crossed the Strait of Hormuz, marking the first such transit by an Indian vessel since a temporary two-week ceasefire between the United States and Iran was announced, according to ship-tracking data. The tanker moved through the strategic waterway between Friday night and Saturday morning and was located in the Gulf of Oman, east of the Strait on Saturday afternoon, proceeding eastwards. Jag Vikram is the ninth Indian vessel to exit the Persian Gulf since early March, while about 15 India-flagged ships remain in the region, awaiting passage. Owned by Mumbai-based Great Eastern Shipping Company, Jag Vikram is a mid-sized gas carrier with a deadweight capacity of over 26,000 tonnes. Trade sources estimate it could be carrying around 20,000 tonnes of LPG. At least 28 India-flagged vessels were in the Strait of Hormuz region when the West Asia conflict erupted, including 24 on the western side and four on the east

PNGRB halts implementation of oil & gas consumer protection rules

The strict enforcement of certain provisions amid supply disruptions from the West Asia war may impact companies, the regulator said

US oil exports seen rising as WTI discount to Brent hits widest in 11 years

US West Texas Intermediate crude traded at as much as a $12.05 a barrel discount to Brent during the session on Wednesday, its largest since March 2015

Antique upgrades GAIL; sees upside in upstream, OMCs amid West Asia war

Antique upgraded GAIL (India) Ltd. to 'Buy' from 'Hold', citing the sharp correction in the stock price despite a relatively limited impact on its target price

Russia Revels in a sudden reversal in fortunes as oil and gas prices soar

President Vladimir V. Putin threatened to cut off remaining gas supplies to Europe as the Iran war drives a surge in energy costs