Petroleum Sector

Indian Oil spends 37% of ₹32,700 crore FY27 capex target in first half

Indian Oil spent ₹12,162 crore in the first half of FY27, with refining and marketing accounting for the bulk of investments as major refinery expansion projects near completion.

Indian Oil posts 174% increase in net profit amid high refining margins

Indian Oil's revenue from operations increased 30 per cent YoY to ₹2.68 trillion in the September quarter

Govt to fund up to 50% deepwater well costs, recover aid from winners

That recovery clause, set out in newly issued operational guidelines, is the scheme's central bargain: the government carries early geological risk and keeps a claim on any upside

BPCL Q2 net profit falls 21.5% to ₹4,863 crore on weak marketing margins

BPCL's Q2 FY27 net profit fell 21.5% YoY to ₹4,863 crore as weak marketing margins weighed on earnings, even as revenue rose 30% and refinery throughput increased 6%

HPCL Q2 profit falls 9% to ₹3,483 cr on higher costs, tax expenses

HPCL's Q2 net profit fell 9% to ₹3,483 crore as higher crude oil prices and tax expenses squeezed margins, despite a 26.2% rise in product sales to ₹1.39 trillion.

Crude faces volatile week as W Asia supply risks keep mkts tense: Analysts

Crude oil prices are poised for another volatile week, with supply worries in West Asia keeping markets on edge and stalled US-Iran talks adding to fears of fresh disruptions, even as efforts to ease shortages offer some relief, analysts said. Investors will track weekly crude stocks data from the American Petroleum Institute (API), Cushing inventories, overall US oil stocks and crude imports for signals on the supply-demand balance. The Strait of Hormuz remains a key source of uncertainty, with any disruption to shipments through the critical waterway threatening to further tighten global supplies. The domestic commodities market will remain closed during the morning session on Tuesday due to Dussehra. "Our outlook remains cautiously bullish, with price movements likely to be driven primarily by geopolitical developments and actual supply disruptions rather than headlines alone," said Ajit Mishra, SVP of Research at Religare Broking. Recent declines in US crude inventories have .

No fuel supply restrictions imposed across retail network: Nayara Energy

The company said it was ensuring fuel availability across its network after Petroleum Secretary Neeraj Mittal said private retailers would be told to stop capping sales.

Centre proposes changes to Petroleum Act, seeks stakeholders' feedback

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

Global diesel squeeze may stretch into 2027 as stocks hit historic lows

Global diesel supplies are tightening as fuel stocks fall to historic lows, refinery capacity remains limited and wars disrupt trade, raising the risk of high prices into 2027

Oil ministry officials meet petroleum dealers body on MDR exemption demand

Petroleum dealers have sought exemption from MDR on UPI fuel purchases above Rs 2,000, warning that the additional transaction cost could put pressure on prescribed dealer margins

Indian basmati may get caught in US 'economic onslaught' on Iran

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

Govt sets LPG production targets for refiners, Reliance gets largest quota

The government has for the first time fixed maximum cooking gas LPG production targets for individual public- and private-sector refineries and upstream companies, as it seeks to build a domestic supply buffer after the West Asia conflict exposed the country's vulnerability to disruptions in imported cooking gas. The Petroleum and Natural Gas Ministry, in an order issued on August 13, has specified maximum LPG production levels for 21 refineries and upstream companies, with combined production potential set at 63,810 tonnes a day -- more than double the domestic LPG output in the fiscal year ended March 31, 2026 and about 70 per cent of the country's daily consumption. The production limits will kick in whenever there is a supply constraint. The lion's share of the planned output has been set from Reliance Industries Ltd's older refinery, which would have to produce up to 18,000 tonnes a day of LPG, according to the order. India consumed 33.2 million tonnes of LPG in the 2025-26 ..

India needs to boost strategic storage capacity: BP India head Dube

BP India Chairman Kartikeya Dube says India should expand strategic reserves, diversify energy sources and increase domestic oil and gas production to enhance energy security

Govt may impose gas levy to finance $42 billion strategic fuel reserves

The plan would ​extend India's strategic reserves beyond crude oil for the first time, with stockpiles designed to cover about two months of ‌crude and LNG demand, and around six weeks of LPG

OMCs regularly monitoring fuel quality at retail outlets, says govt

The government said only two cases of chloride contamination were found in the entire country

India's fuel exports to fire on all cylinders on capacity addition

India's highest annual addition of refining capacity in decades comes even as the world faces a severe shortage of oil products

Govt says no assessment of share of vehicles compatible with E20 petrol

The government on Monday said it has not assessed the proportion of vehicles in the country that are fully compatible with E20 petrol, but maintained that extensive studies and field trials have found the fuel to be safe for use under prescribed standards. In a written reply to a question in the Rajya Sabha, Minister of State for Petroleum and Natural Gas Suresh Gopi said, "Ministry of Heavy Industries (MHI) have informed that no such assessment has been done by them" of the percentage of vehicles currently compatible with E20 fuel (petrol doped with 20 per cent ethanol). The minister said the Ethanol Blended Petrol (EBP) programme had been implemented through a phased and scientifically validated process involving NITI Aayog, automobile manufacturers, oil marketing companies, the Automotive Research Association of India (ARAI), the Society of Indian Automobile Manufacturers (SIAM), the Indian Institute of Petroleum (IIP) and other technical institutions. He said laboratory studies

India's languishing oil reserves: A decade of missed opportunities

There has been little meaningful activity in India's strategic petroleum reserve programme over the past decade

No decision taken yet to raise ethanol blending beyond current 20%: MoS

The government has not yet decided to raise ethanol blending in petrol beyond the current 20 per cent level, Minister of State for Petroleum and Natural Gas Suresh Gopi told the Rajya Sabha on Monday, adding that any future increase would follow further scientific study and consultation with industry. "So far, no decision has been taken by the government for increasing ethanol blending with petrol beyond 20 per cent," Gopi said in a written reply to a question. Any move higher would come "only after detailed scientific and technical studies and consultations with all relevant stakeholders, including automobile manufacturers, Oil Marketing Companies and research institutions," he said. Gopi said India reached the 20 per cent blending target five years ahead of schedule, with average blending rising from about 1.53 per cent in 2013-14 to 20 per cent in the 2025-26 supply year, after more than two decades of phased rollout. Since 2014-15, he said, the programme has saved over 1.97 ...

ONGC to build 1.75 MT strategic petroleum reserve at Mangalore

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