Citi analysts on Friday forecast Brent crude oil prices would fall to $60 per barrel by year-end and average $62 per barrel between the second and fourth quarters of 2026, citing OPEC+ production increases and China’s stockpiling. The bank revised its global liquids balance outlook after OPEC+ announced plans to unwind an additional 1.6 million […]
Continue Reading... No Comments.Can households draw cooking gas connections from another distributor or PSU oil company other than one catering to them just like the how it works in the mobile telephony space? Imminently so, with Petroleum and Natural Gas Regulatory Board inviting stakeholder and consumer comments for an LPG interoperability framework. Behind the move are persistent consumer […]
Continue Reading... No Comments.India’s crude oil and condensate production fell 0.6 per cent to 2.4 million metric tonnes (MMT) in August 2025 while the country’s net oil and gas import bill declined to USD 9.4 billion from USD 11.4 billion a year earlier, according to data from the Petroleum Planning and Analysis Cell (PPAC). Of the total domestic […]
Continue Reading... No Comments.India’s state-run Oil India Ltd expects a $20-billion, TotalEnergies-operated Mozambique liquefied natural gas project in which it owns a stake to restart development by the end of this year, its chairman Ranjit Rath said on Thursday. TotalEnergies halted construction of the project and imposed force majeure in 2021 following a deadly attack on the site […]
Continue Reading... No Comments.Union Petroleum and Natural Gas Minister Hardeep Singh Puri announced that the government will review India’s ethanol blending programme before setting new, higher targets. India achieved its target of 20% ethanol blending in petrol six years ahead of schedule, reaching 10% blending by 2022, five months before its deadline. Puri rejected concerns about E20 fuel […]
Continue Reading... No Comments.India’s Nayara Energy has raised fuel sales to state retailer Hindustan Petroleum Corp after the Russia-backed refiner’s exports were hit by European Union sanctions, a government source said on Tuesday. Since the imposition of sanctions, Nayara has been operating its 400,000 barrel-per-day (bpd) Vadinar refinery in western India at 70-80% capacity. Higher local sales of […]
Continue Reading... No Comments.After a 10-month hiatus, Azerbaijan has resumed crude oil exports to India, Report informs, citing Azerbaijan’s State Customs Committee. In August 2025, Azerbaijan exported 1,747.07 tons of crude oil to India, valued at $781,520, marking a sharp decline of 589 times in volume and 827 times in value compared to the same period last year. […]
Continue Reading... No Comments.India’s annual liquefied natural gas demand is set to contract in 2025 for the first time in years, as buyers hold out for a surge in production that is expected to push down prices. The world’s fourth-biggest LNG importer bought about 16 million tonnes of the super-chilled gas in the eight months through August, down […]
Continue Reading... No Comments.The Indian oil marketing companies have thrived in a volatile global market, with support from the Indian government, HSBC Research said in a research note. According to HSBC, oil marketing companies have witnessed volatility in refining margins over the last six months, a potential risk in the U.S., which has prompted India to reduce its […]
Continue Reading... No Comments.Diesel in India will soon be blended with isobutanol instead of ethanol after initial trials with ethanol did not deliver the expected results, Union Road Transport and Highways Minister Nitin Gadkari said on Thursday. Speaking at the India Sugar and Bio-Energy Conference, the minister said that the government is committed to expanding biofuel use as […]
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