Market News

Rs 1,600-1,700 Crore A Day, Rs 1 Lakh Crore In 10 Weeks: Cost Of Insulating India From Global Energy Shock

Despite a 50 per cent surge in input crude oil prices, petrol and diesel continue to be priced at a two-year-old rate of Rs 94.77 a litre and Rs 87.67 per litre respectively. Domestic cooking gas LPG prices were raised in March by Rs 60 per cylinder, but they are still way lower than the actual cost.

From Chennai to Abu Dhabi: How Indian manufacturers are breaking into the Middle East’s oil supply chain

Indian engineering firms are now entering the Middle East's oil and gas supply chains. Global energy companies are broadening their supplier choices. This opens doors for Indian manufacturers meeting strict standards. Companies like LSI-MECH Engineers are gaining approval. The Middle East continues energy infrastructure investment. Diversifying vendor bases is a priority for global firms.

ONGC Share Price Live Updates: ONGC's Current Market Status

Commercial LPG hike: Delhi restaurant owners warn of higher menu rates, job losses

Commercial LPG cylinder prices have surged, impacting Delhi's food businesses. Restaurant owners and street vendors warn of higher menu rates and potential job losses. This steep hike, linked to global energy prices, is causing significant financial strain. Many businesses are exploring alternatives like piped natural gas.

GAIL moves court against PNGRB over unbundling plan

GAIL has taken its dispute with the Petroleum and Natural Gas Regulatory Board to the Delhi High Court. The regulator wants to separate gas transportation and marketing, a reform mandated in 2017. GAIL argues this will harm its integrated business. A committee report supports the regulator's stance, stating the Indian gas market has evolved.

How the Iran war oil and gas supply shock compares with past disruptions

A major oil supply disruption is underway due to the US-Israeli war with Iran and the closure of the Strait of Hormuz. This event is the worst energy crisis the world has faced, impacting crude, natural gas and refined fuel supplies. The disruption's scale is unprecedented in daily output lost, surpassing past energy shocks.

Oil prices to stay at $80-85; ONGC, Oil India to benefit, OMCs at risk: ICICI Securities

Probal Sen, Oil and Gas Analyst at ICICI Securities, said the current environment is favourable for upstream companies such as ONGC and Oil India. He noted that their valuations are still factoring in lower crude prices, leaving room for upside. If oil holds around $80–85 per barrel, earnings could see a meaningful 17–18% upgrade in standalone EPS for both companies.

BPCL JV to invest $2.8 billion in Brazil oil and gas project after Petrobras clears final plan

BPCL’s Brazil joint venture will invest $2.8 billion in an oil and gas project, boosting equity oil access and supporting India’s long-term energy security strategy.

100% domestic LPG, PNG supply ensured amid West Asia crisis: Govt

India has successfully maintained full supply of Piped Natural Gas and Liquefied Petroleum Gas for homes. This was achieved by prioritising domestic needs during energy disruptions from the West Asia crisis. Commercial LPG supplies have also been restored significantly. The government implemented measures to manage demand and ensure availability for critical sectors and industries.

European Gas futures jump up to 18% on Strait of Hormuz concerns

The Strait of Hormuz carries nearly 20% of the global energy supply, including LNG. While some oil supertankers traversed the strait over the weekend, LNG shipments haven’t yet made the journey.

Donald Trump says oil, gas prices could swing either way before midterms

Donald Trump has commented on the fluctuating prices of oil and gas. He believes these costs could either decrease or increase before the upcoming US midterm elections. This statement underscores the current unpredictability in global energy markets. Geopolitical tensions and supply disruptions are key factors influencing these price movements. The situation remains uncertain as the elections approach.

Shell steps up LNG supplies to India, wins major fertiliser tenders after Gulf disruptions

Global energy firm Shell plc has significantly increased natural gas supplies to India. This comes as disruptions from the West Asia conflict impacted supplies from Qatar. Shell's global LNG portfolio and infrastructure allowed it to step in. It became India's largest imported gas supplier in March. This ensured feedstock for fertiliser production and other industrial needs.