Market News

Oil India reports natural gas presence in second Andaman offshore well

Oil India Limited has found natural gas in its third exploratory well in the Andaman offshore block. This is the second well in the block to confirm hydrocarbon presence. The discovery is a positive indicator for future exploration in the area. OIL is currently processing seismic data for further appraisal well drilling.

ONGC Share Price Live Updates: ONGC Trading Volume Insights

India's ageing ammonia plants need upgradation, says industry body FAI

India's fertiliser sector faces a challenge with its heavy reliance on imported natural gas. The Fertiliser Association of India is urging for improved efficiency and new technology in ammonia production. This is crucial for strengthening domestic fertiliser security. The industry is working towards better plant operations and maintenance.

Ethanol blending program has saved India Rs1.84 lakh crore in foreign exchange

Flex Fuel Vehicles offer India a practical solution to reduce crude oil imports, strengthen the rural economy through ethanol demand, and advance low-carbon mobility, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said recently. India has one of the world's largest two-wheeler ecosystems with an active two-wheeler fleet of over 300 million vehicles. The flex-fuel technology has the potential to transform mobility at an unprecedented scale.

ONGC Share Price Live Updates: ONGC's Stock Declines by 2.3% Over the Week

Stocks To Watch Today: IEX, Hero MotoCorp, HCLTech, BHEL, Lenskart, ONGC

Stocks In News On Thursday.

Crude, LPG supply to India smoothens in May after two glitchy months; LNG supply beats pre-war levels

In May, India's oil and gas imports showed clear signs of recovery after recent setbacks, with crude oil inflows rising, though they have not yet reached the robust numbers seen in February. Natural gas supplies saw a notable upswing, going past pre-war levels.

Oil may stay expensive even if West Asia tensions ease, pressure OMCs: ICICI Securities

Probal Sen, Oil and Gas Analyst at ICICI Securities believes global energy supply chains have structurally changed after the Middle East conflict. India is increasing crude imports from Venezuela, Russia, the US and Africa to manage shortages, but cheap crude is no longer available.

Crude oil prices rise as renewed West Asia tensions stoke supply concerns

The ongoing war and the blockade of the Strait of Hormuz have shaved 20% off global LNG supplies and the longer Hormuz remains closed, the higher oil, gas, and electricity prices will rise

ONGC Share Price Live Updates: ONGC maintains a steady beta over six months

Oman beats Qatar as India’s top LNG supplier as war disrupts Gulf gas flows

In a significant turn of events, Oman has emerged as India's top source for liquefied natural gas, particularly following the upheaval caused by the Iran war that interrupted gas flow in the Gulf region. This strategic pivot took place in March, with Indian buyers seeking more stable energy alternatives.

Market trade near day's high; European mrkt advance

IT, consumer durables and auto shares advanced while pharma, media and oil & gas shares declined.