India’s LPG demand is projected to fall. Piped natural gas (PNG) will replace LPG use. Household LPG consumption makes up 90% of total demand. PNG is cheaper than LPG. Domestic
Continue readingLPG demand to decline 7% by 2030 on growing piped natural gas adoption
ONGC’s crude oil production is rising after eight years of decline, thanks to a new field in the KG Basin and improved performance at Mumbai High. November saw a 3%
Continue readingONGC oil output bucks the trend after 8 years of decline
Russia’s Rosneft has agreed to supply 500,000 barrels per day of crude to India’s Reliance for 10 years in a deal worth approximately $13 billion annually. This agreement, which accounts
Continue readingReliance, Rosneft agree on biggest ever India-Russia oil supply deal
The Organization of Petroleum Exporting Countries chopped projections for consumption growth in 2024 by 210,000 barrels a day to 1.6 million barrels a day, according to its monthly report. The
Continue readingOPEC makes deepest cut yet to world demand forecast
Indian Oil Corporation’s GIFT City unit has financed over $250 million for its group companies in a year, optimizing borrowing costs. The unit refinances loans, provides credit lines, and facilitates
Continue readingIOC GIFT city unit funds deals of over 250 million dollars
India’s competition watchdog, CCI, has greenlit Abu Dhabi National Oil Company’s (ADNOC) substantial $16.4 billion acquisition of Covestro, a leading polymer materials producer. ADNOC plans a complete takeover of Covestro’s
Continue readingADNOC gets CCI clearance to acquire Covestro for USD 16.4 billion
ONGC plans to auction 1.2 GW of greenfield renewable energy projects in two 600 MW rounds. The first auction, in two months, seeks developers for end-to-end project development. ONGC will
Continue readingONGC may hold auctions to pick green energy project developers
Following a deadly billboard collapse at a Mumbai petrol pump in May, India’s oil regulator has ordered a nationwide safety review of all fuel stations. Retailers must assess risks posed
OPEC+ delayed oil output increases, pushing back plans by three months to April and extending cuts until September 2026. Morgan Stanley and HSBC revised their forecasts, predicting a Brent price
Continue readingMorgan Stanley, HSBC cut oil supply forecast, predict $70 Brent after OPEC decision
Rosneft, a Russian oil producer, recently invested $20 billion in India, strengthening energy ties between the two nations. Putin expressed readiness to establish manufacturing in India, highlighting its profitability. India
Continue readingRussia's Rosneft invested $20 bn in India, govt quotes Putin as saying