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Oil and gas supplies could take months to return to normal after Iran deal, energy experts say
Global oil prices saw a dip following news of an Iran war ceasefire and the reopening of the Strait of Hormuz. However, energy experts caution that restoring full oil and gasoline supplies will take several months. Stranded ships must depart, and new tankers will need safe passage.
Mcap of 8 most valued firms surges by ₹1.90 trn, ICICI Bank shines
The combined market valuation of eight of the top-10 most valued firms surged by Rs 1.90 lakh crore last week, with ICICI Bank stealing the show, in tandem with a rally in equities. Last week, the BSE benchmark Sensex jumped 1,284.61 points, or 1.73 per cent, and the NSE Nifty surged 256.2 points, or 1 per cent. "Indian equity markets ended a volatile week on a strong note, snapping a two-week losing streak amid improving global sentiment and supportive measures from the Reserve Bank of India (RBI) aimed at attracting foreign currency inflows," Ajit Mishra, SVP, Research, Religare Broking Ltd, said. Investor confidence improved on optimism surrounding a potential USIran peace deal, which raised hopes of easing geopolitical tensions and stabilising energy markets, he added. From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Larsen & Toubro and Hindustan Unilever were the winners, while Tata Consultancy Services (TCS)
Cemindia Projects Ltd leads losers in 'A' group
Nestle India Ltd, Cartrade Tech Ltd, Inox India Ltd and Oil & Natural Gas Corpn Ltd are among the other losers in the BSE's 'A' group today, 12 June 2026.
India, UAE move to expand strategic crude reserves; Abu Dhabi-linked oil storage may rise to 30 mln barrels
India and the UAE are boosting energy security. Plans are underway to significantly expand India's strategic oil reserves with UAE-linked crude storage. New facilities will increase capacity from 5.8 million barrels to 30 million barrels. Both nations are also establishing a framework for strategic gas reserves. This initiative aims to provide greater flexibility and ensure stable energy supplies for India.
INR pares initial losses and settles largely unchanged
The Indian rupee was largely flat and settled almost unchanged at Rs 95.43 per dollar, down just 2 paise on Wednesday, amid likely intervention from the Reserve Bank of India (RBI) to curb excessive volatility and prevent a further slide in the domestic unit. Rupee pared its initial losses as crude oil prices and the US dollar index retreated from their elevated levels. Indian shares gave up early gains to end little changed on Wednesday as investors weighed rising U.S.-Iran tensions and awaited key U.S. inflation data later in the day for fresh insights into market expectations for future interest rates in the face of rising energy-driven inflation risks. The BSE Sensex ended the day at 73,983.18, up by 64.42 points (0.09%), while the NSE Nifty 50 settled at 23,214.95, slipping by 27.15 points (-0.12%).
Oil India Ltd slips for fifth straight session
Oil India Ltd is quoting at Rs 449.7, down 5.52% on the day as on 13:19 IST on the NSE. The stock tumbled 3.35% in last one year as compared to a 6.94% slide in NIFTY and a 7.63% spurt in the Nifty Energy index.
Oil & Natural Gas Corpn Ltd eases for fifth straight session
Oil & Natural Gas Corpn Ltd is quoting at Rs 254.8, down 1.62% on the day as on 13:19 IST on the NSE. The stock jumped 3.02% in last one year as compared to a 6.94% slide in NIFTY and a 7.63% spurt in the Nifty Energy index.
Hindustan Oil Exploration temporarily halts gas sales from B-80 field
Hindustan Oil Exploration Company announced that Gas sales from B-80 field has been stopped for asset integrity related maintenance. These preventive and corrective measures are being carried out to ensure the continued safe, reliable, and efficient operation of the facilities, in line with applicable safety standards and operational best practices. Oil sales continue at lower rates.
Meta deal, 49th AGM, stock at 52-week low: Why are analysts bullish on RIL?
Foray into green energy, data centres and reducing dependence on the oil & gas business augur well for Reliance Industries, says G Chokkalingam founder of Equinomics Research.
BP names heads for two main businesses after revamp
BP is reorganising its business into two core units, upstream and downstream. Gordon Birrell will lead the upstream operations, while Richard Harding takes charge of downstream on an interim basis. This strategic shift aims to simplify operations and refocus on oil and gas. Renewable energy investments will be scaled back.
Cairn, Vedanta Oil & Gas raises output from Hazarigaon gas field in Assam
Cairn Vedanta Oil & Gas has achieved a significant milestone in Assam. The Hazarigaon field recorded its highest gas production. This contributes to India's energy security. The field supports tea gardens, powers CNG buses, and supplies gas to Numaligarh Refinery. The company ensures responsible operations and efficient resource use. This work reflects steady progress in the region.
India has 76 days of fuel reserves, oil supplies secure: Hardeep Singh Puri
India possesses robust fuel reserves, sufficient for approximately one month of disruption. The nation's diversified sourcing strategy and expanding energy infrastructure provide a strong buffer. Petroleum Minister Hardeep Singh Puri expressed confidence that global supply shortages will be mitigated. Additional gas supplies will further strengthen energy security. India is well-positioned to manage potential disruptions.