Sky-high US tariffs are prompting India and Brazil to explore opportunities to boost oil trade, as New Delhi looks for alternatives to Russian oil, while Brazil scouts for newer markets for its growing crude output, according to S&P Global Commodity Insights. Russian oil flows to India continue, but Indian refiners are preparing for the worst...
Category: Oil & Gas
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ONGC Q1 FY2026 Net Profit Rises 18.2% to ₹115.5 Billion on Strong Gas Realisations and Offshore Gains
ONGC’s Q1 gains were buoyed by rising revenue from new well gas, which crossed ₹17 billion—₹3.3 billion above the administered price mechanism (APM) rate—as the company stepped up output from premium-yielding sources. India’s largest oil and gas explorer, Oil and Natural Gas Corporation (ONGC) has reported a consolidated net profit of ₹115.5 billion for the...
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Centre Defends Ethanol Blending Programme Amid Mileage Concerns; Highlights $16.5 Billion Forex Savings
Despite ethanol now costing more than refined petrol, oil marketing companies continue blending it into fuel, citing long-term gains in energy security, rural incomes, and environmental sustainability, according to the ministry. Amid growing public debate over the impact of 20 per cent ethanol-blended petrol (E20) on vehicle mileage and engine life, the Ministry of Petroleum...
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Offshore Energy Gets Boost as India Reforms Licensing Policy: Puri Tells Rajya Sabha
The Andaman Basin emerges as a key frontier in India’s energy exploration, with drilling operations by ONGC and OIL targeting depths of up to 5,000 metres in ultra-deepwater regions. India is witnessing a renewed surge in oil and gas exploration, particularly offshore, revealing vast untapped hydrocarbon potential. In a written reply to a starred question...
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GAIL, OIL Extend 15-Year Gas Supply Pact for Rajasthan Fields
The supply deal for up to 900,000 SCMD of natural gas from Oil India’s Rajasthan fields to GAIL is set to boost domestic production, streamline transportation, and expand distribution, reinforcing energy security and improving access. India’s largest natural gas supplier GAIL India and Oil India Ltd have extended their existing gas sale and purchase agreement...
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India Invites Feedback on Oil & Gas Reforms Ahead of Landmark OALP Round X: Hardeep Singh Puri
It is a great time for our industry leaders and entrepreneurs to look at oil and gas exploration in India. It has never been easier, faster and more profitable to do exploration in India,” Union Minister Hardeep Singh Puri posted on the microblogging platform X, while inviting feedback on a series of proposed reforms to...
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GAIL Reports Record Profit Surge
India’s largest natural gas company, GAIL (India), has reported its highest-ever financial performance in FY2025, achieving record EBITDA, PBT, and PAT despite global economic challenges. Sandeep Kumar Gupta, Chairman & Managing Director, attributed the robust results to strong operational and financial performance across all major segments. The company’s revenue from operations rose to Rs.1.37 trillion...
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Govt floats tender to procure gas-based plants
Govt floats tender to procure 4GW gas-based plants during April-May
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Oil pipeline between India and Bangladesh to operate from March 18
The pipeline extends 125 km via Bangladesh and 5 km through India.
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70 exploration sites identified by ONGC
ONGC proposes spending Rs 27 billion to find new hydrocarbons.