Page 2 - Oil And Gas Sector

BPCL buys crude from every place including Russia based on viability: CMD

State-owned BPCL has said its crude procurement is based on techno-commercial viability for its refineries and it buys from every geography including Russia. BPCL Chairman and Managing Director Sanjay Khanna said that currently preparation of Detailed Feasibility Report (DFR) is underway for the company's proposed Greenfield Refinery and Petrochemical Complex near Ramayapatnam Port in Nellore district, Andhra Pradesh and obtaining necessary environmental clearances. "We buy oil from every geography and the oil which is most techno-commercially viable for the refinery, not only me (BPCL), every refiner goes for it. So that is the stand, be it Russian oil or any oil for that matter. That is how we go for it. Whichever is giving us the highest value for the company ensures the reliable operations," Khanna told PTI. A senior official of the Department of Petroleum and Natural Gas replying to a query on the crude imports from Russia on Tuesday said those decisions are not taken at the ..

India must be able to quickly attract global oil firms: Rystad Energy CEO

India's energy future hinges on decarbonising electricity first, boosting oil and gas exploration, and weighing nuclear SMRs against cheaper renewables

Crude slips to 3-month low; INR weakness seen pressuring OMCs, CGDs: Nomura

Nomura said that the INR's depreciation remains a headwind for OMCs and CGDs, as their input costs are dollar-linked while revenues are in rupees.

Motilal Oswal bullish on Ellenbarrie; initiates with Buy, flags 31% upside

Financially, Ellenbarrie has delivered stellar growth in recent years. Between FY23 and FY25, revenue rose at a 23% CAGR, Ebitda expanded at an 81% CAGR, and PAT grew at a 71% CAGR.

Low prices, high GST: Double whammy for upstream energy companies

GST Council recommends raising GST on oil and gas exploration services from 12% to 18%, potentially impacting the margins of Indian upstream companies facing declining energy prices

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.

India's biggest bet on securing bids from foreign drillers in crucial move

An official said main problem for India's petroleum sector, considering its lucrative geology less than that of countries in Africa and South America, was frequent changes in tax & incentive policies

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

Russian oil drives Opec share in India's imports to record low, data shows

Import of Russian oil rose 7.3 per cent to 1.76 million bpd, raising its share marginally to 36 per cent while OPEC's share slipped slightly to 48.5 per cent, the data showed

BSE Oil & Gas index up 2%; ONGC, Oil India, GAIL surge up to 4%

British energy major BP, along with Reliance Industries and ONGC, has secured an offshore block off the Gujarat coast in the latest exploration bidding round

ONGC wins 11 blocks in round 9 of national oil and gas asset auctions

Private company Cairn wins 7; BP wins offshore block in Saurashtra basin

Govt plans cheap gas lifeline for LNG trucks; aims to revive closed outlets

Indian Oil, the largest operator of LNG truck outlets, has shut five of its six outlets for lack of business, with only one in Sriperumbudur, an industrial area outside Chennai, still operational

India's oil production in dire straits as fuel use continues to be strong

Oil India's output is expected to decline by 21 per cent to 66,000 bpd by 2029-30 from 84,000 bpd next financial year, according to the report

Margin woes to continue for city gas distribution companies in Q4

Continued geopolitical tensions will keep Europe's demand high in CY25

BP turns back to fossils, to increase annual oil, gas investment to $10 bn

The oil major slashed planned annual investment in transition businesses by more than $5 billion than its previous forecast, to between $1.5 billion and $2 billion per year

Trump's tariffs and Russian oil woes deepen crisis for Indian OMCs

A sharp rise in LNG prices threatens to unravel India's projected 12% growth in demand for the fuel this financial year

Higher production likely to help revive investor sentiment in ONGC

Brent crude oil price per barrel averaged $75 in Q3 (vs $80.7 in Q2), with weak demand and comfortable supply

Oil and gas producers call for tax reforms in the upcoming Budget

Seek relief from state levies, Customs duties, pitch for single window clearance system

Norway's Equinor, Shell plan to form UK oil and gas joint venture

Joint venture will be based in Aberdeen, Scotland, and will be set up to sustain domestic oil and gas production and security of energy supply in Britain, Equinor said

Gail signs 10-yr deal to buy up to 0.52 mn tonnes LNG per yr with ADNOC Gas

State-owned gas utility GAIL (India) Ltd on Thursday said it has signed a 10-year deal to buy up to 0.52 million tonnes per annum of liquefied natural gas (LNG) from Abu Dhabi's ADNOC Gas starting 2026. This is the first sales and purchase agreement (SPA) that ADNOC Gas has signed with an Indian buyer. "The LNG will be delivered in six cargoes per year from ADNOC Gas' Das Island natural gas facility, which has an LNG processing capacity of 6.0 million tonnes per annum. It is the third longest established LNG plant still in production globally," GAIL said in a statement. Sanjay Kumar, Director (Marketing), GAIL said: "India is witnessing a growing demand for LNG to meet its increasing natural gas demand in a diversified sectoral pattern. GAIL plans to significantly increase its term LNG portfolio in the coming years to meet this rising demand. This SPA with ADNOC Gas is a crucial step in this direction, enabling GAIL to augment its existing LNG portfolio to better serve its diverse .