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MRPL shares jump 9% as ONGC approves strategic oil reserve in Mangaluru
ONGC has approved an expansion of the country's strategic oil reserves, highlighting a push to strengthen energy resilience following the shock of the Iran war.
E20 costs more at current crude prices, but saves forex, boosts farmers' income, reduce oil dependence: Govt
Ethanol blending shields Indian consumers from volatile global oil prices. This program reduces dependence on imported crude oil significantly. It also strengthens the country's long-term energy security and foreign exchange reserves. The initiative has already saved over one lakh ninety-seven thousand crore rupees. Continued blending promises greater fuel price stability and farmer income.
Hardeep Puri explains why India has among world's cheapest petrol, spells out country's fuel strategy
India offers some of the world's cheapest petrol, according to the Petroleum Minister. Ethanol blending significantly contributes to these lower fuel prices for consumers. This strategy reduces dependence on volatile global crude oil prices. Farmers' ethanol, with fixed annual prices, aids in maintaining stable domestic fuel costs. The Middle East conflict has driven up international oil prices, impacting other nations.
Rupee, stocks reel as Trump signals end of Iran truce
Indian stocks and the rupee experienced a significant decline on Wednesday. This market downturn followed fresh US strikes on Iran and rising oil prices. The country's volatility index surged, reflecting increased trader risk perception. Bond yields climbed the most in over three months, while the rupee ended as the continent's worst performer. Analysts suggest market reactions to geopolitical events are often short-lived.
India eyes oil exploration expansion after Middle East war shortages
In response to a critical energy supply crisis, India is ramping up its efforts in domestic crude exploration. The country, known for its reliance on oil imports, is set to unveil extensive uncharted regions for bidding. This initiative, named 'Samudra Manthan,' aims to enhance production levels in light of rising energy demands and global volatility, with significant funding earmarked for offshore drilling activities.
India, Japan agree on crude oil stockpiling & reserve systems
India and Japan are joining forces to bolster energy security, creating joint strategies for crude oil and petroleum product stockpiling to shield consumers and industries from West Asia conflict disruptions. The nations will share market insights, stabilize energy prices, and explore third-country energy sourcing and upstream investments. This collaboration aims to enhance regional energy resilience through shared mechanisms and dialogues.
Over 1/10 Of Crude Basket: A Look At Iran's Share In Indian Oil Imports At Its Peak
Iran's share in India's crude basket steadily increased through the second half of the last decade, peaking at more than one-tenth of the country's total oil imports.
US Permits Iran To Sell Oil Under 60-Day Licence After Round 1 Of Talks
Treasury Secretary Scott Bessent says Tehran has committed to free navigation through the Strait of Hormuz and agreed to allow UN nuclear inspectors back into the country.
India Boosts Russian, UAE Oil Purchases In June Ahead Of Full Hormuz Recovery
India imported an average of 2.66 million barrels per day of crude oil from Russia in June, through June 19, compared to 1.91 million bpd in May, data from maritime and commodity intelligence firm Kpler showed, cementing Moscow's position as the country's largest oil supplier.
Vedanta Resources plans to relist; US likely; eyeing $100 billion
Anil Agarwal plans to relist Vedanta Resources, potentially in the US. The group intends to invest $100 billion in India's metals and minerals sector. Vedanta will be restructured into five separate listed companies. This move aims to scale businesses independently and meet the country's growing resource demand. Agarwal sees significant potential in the oil and gas division.
No shortage of energy in country, LPG, oil supply situation comfortable: Hardeep Singh Puri
Speaking with reporters in Ludhiana, Puri further asserted that, while fuel prices rose considerably in many countries, rates in India dropped by 3.1 per cent from May 2022 to May 2026.
Fueling Demand: Inside India’s ethanol mobility revolution in reverse
India is launching an ambitious green mobility initiative. The country is establishing E100 fuel stations nationwide before flex-fuel vehicles become common. This strategy aims to reduce oil imports and boost the rural economy. Major automakers are now introducing flex-fuel cars and motorcycles. This rapid development marks a significant shift in India's energy landscape.