Wholesale price inflation (WPI) stayed in negative territory for the second consecutive month at (-) 0.58 per cent in July, as prices of food articles and fuel saw deflation, even though prices of manufactured items increased, government data showed on Thursday.
Saudi Arabia's steep cut in LPG benchmark prices has pushed India's household LPG underrecoveries to their lowest level in over two years, slashing oil companies' losses from Rs 200-250 per cylinder last year to about Rs 20-40 now.
After a three-month slowdown, India's oil imports (already landed) from Russia bounced back in the first 15 days of October to 1.8 million barrels per day.
'There is no shortage of fuel whatsoever.' 'India is stock surplus as far as petrol and diesel are concerned.'
India's decision to import LPG from the US helps it to diversify sources as it reduces almost full reliance on West Asian countries for supply of the country's primary cooking fuel.
Wholesale price inflation (WPI) declined to (-) 0.13 per cent in June as prices of food articles and fuel saw deflation, along with easing in manufactured product costs, government data showed on Monday. WPI-based inflation was 0.39 per cent in May. It was 3.43 per cent in June last year.
State-owned Oil and Natural Gas Corporation (ONGC) has reported a 10 per cent decline in its June quarter net profit on lower oil prices and stagnant production from its aging fields. The company reported a net profit of Rs 8,024 crore in the first quarter of 2025-26 fiscal year, compared to Rs 8,938 crore earning in the same period last year, a company statement said.
'The immediate impact for India will be very minimal as the share of Venezuela in our total overseas production is very low.'
Delhi should keep all its options open in what is essentially a transitional period in the geopolitics of energy rather than remain a gatekeeper serving Trump's 'America First', suggests Ambasssador M K Bhadrakumar.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Tuesday gave its approval to Vedanta Limited's demerger proposal, clearing the way for the group to reorganise its operations into five distinct, sector-specific entities.
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
Egypt, Pakistan, Saudi Arabia and Turkey met in Islamabad in what analysts say is the formal opening of a new diplomatic formation that could reshape the post-war regional order. Their immediate goal is a ceasefire; their larger ambition is to ensure that neither Iran nor Israel emerges from this war in a dominant position. Pakistan's foreign minister then flew directly to Beijing and mooted a Chinese role as guarantor of any eventual agreement. Prem Panicker continues his must read daily blog on the Gulf War.
Union Minister of State Suresh Gopi on Friday said that Congress MP Shashi Tharoor has to decide whether he wants to join the Bharatiya Janata Party and the changes seen in him were the outcome of understanding the people's interests.
The US Department of the Treasury on Wednesday imposed sanctions on Russia's two largest oil companies, Rosneft and Lukoil, in an effort to pressure the Kremlin to end its war in Ukraine.
India has called for a ceasefire, release of all hostages, and peaceful resolution of the Israel-Hamas conflict through dialogue and diplomacy. The Centre informed Parliament that India welcomed the agreement on the first phase of the Gaza Peace Plan. The article also covers India's energy sourcing strategy and the release of Indian fishermen by Pakistan.
The National Company Law Tribunal (NCLT) on Wednesday deferred the hearing on Vedanta Ltd's proposed demerger to September 17, as market regulator Sebi is yet to complete the scrutiny of the proposal, while the central government has raised certain objections. The matter, which was part-heard earlier, had been adjourned to August 20.
The pause gives the US time to breathe, to regroup, to move its expeditionary force into position without risk of interception along the way. It gives Iran nothing -- on the ground, attacks against its infrastructure continue apace. Prem Panicker in his must read daily blog on the Gulf War.
Under the defence partnership, India and the UAE are eyeing defence industrial collaboration and cooperation in advanced technologies, cyberspace training, special operations, interoperability of their militaries and counter terrorism.
The Supreme Court rejected a PIL challenging the nationwide rollout of 20% ethanol-blended petrol (EBP-20), citing benefits to sugarcane farmers. The plea alleged incompatibility issues with older vehicles.
A post by the oil ministry featuring V.D. Savarkar alongside Mahatma Gandhi and other freedom fighters has drawn criticism from the Congress party, accusing the BJP of distorting history.
India is growing fast, but to keep growing strong, the government must make more things at home, create jobs, and spend money wisely, suggests Rajiv Memani, regional managing partner, Africa-India Region, EY.
India, the biggest contributor to world demand for oil, will bring into effect in an overhaul of its drilling policy. This comes after more than a year of preparation and will boost the exploration and development of India's oil and gas sector along with increased participation by foreign drillers
Indian private sector and State-run refiners continued to receive crude oil from Russian suppliers even after November 21 -- the winding-down date for US sanctions on supplies from leading Russian oil producers imposed in October -- as new intermediaries sprung up in West Asia to sell the oil, according to senior refining sources and ship tracking data.
According to the minister, the government views the incident with utmost seriousness.
Prime Minister Narendra Modi inaugurated Kartavya Bhavan, the first of ten Common Central Secretariat buildings, aiming to consolidate ministries for improved efficiency. The building will house several key ministries, relocating them from older, outdated structures.
As of now, no firm has launched a flex-fuel vehicle in India, as these models are more expensive than comparable petrol-run vehicles.
Adding petrol and diesel to GST was a challenging task due to their significant role as revenue generators for both the central and state governments.
The ministries of Road Transport & Highways and Railways have exceeded the national average capital expenditure (capex) by spending 63 per cent and 57 per cent of Budget estimates (BE), respectively, in the first half of 2025-26 (FY26). The total capital expenditure for April-September of FY26 stood at 52 per cent of the BE, according to the latest data by the Controller General of Accounts (CGA).
Chinese import tariffs have unwittingly come to India's assistance to help boost imports of US liquefied petroleum gas (LPG) at rates cheaper than what it pays for supplies from West Asia, according to industry sources and shipping data.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
The actor-politician however, said they should not try to destroy such a huge industry like cinema.
Union Minister Suresh Gopi visited the family members of freedom fighter and former Indian National Congress (INC) president Chettur R Sankaran Nair in Ottapalam, Kerala. The visit was carried out as per the direction of Prime Minister Narendra Modi. During the visit, the Minister assured the family that he would help facilitate the construction of a memorial in Ottapalam to honor Sankaran Nair's legacy.
'The US is strongly placed to expand its crude supplies to India.'
Billionaire Mukesh Ambani's Reliance Industries has retained its position as the highest-ranked Indian company on the 2025 Fortune Global 500 list, according to the latest rankings released by the publication. The oil-to-telecom-and-retail conglomerate has been ranked at No.88 on the latest list, down from 86th position in 2024.
Cooking gas or Liquified Petroleum Gas (LPG) price has been raised by Rs 50 per cylinder by distribution companies, Union Oil Minister Hardeep Singh Puri said on Monday.
The government has slapped a $2.81 billion (about Rs 24,500 crore) demand notice on Reliance Industries and its partners, including BP Plc for gains made from producing and selling natural gas that may have migrated from neighbouring block of state-owned ONGC. This follows the Delhi high court's decision on February 14, overturning an international arbitration tribunal ruling that held the duo not responsible for paying any compensation for the gas they produced and sold which had allegedly migrated from adjoining fields.
The government has slashed by up to 20 per cent the supplies of cheaper domestically produced natural gas to city retailers -- a move that may result in Rs 4-6 per kg hike in the price of CNG sold to automobiles, unless excise duty on the fuel is cut, sources said. Natural gas pumped from below the ground and from under the seabed from sites ranging from the Arabian Sea to Bay of Bengal within India is the raw material that is turned into CNG for sale to automobiles and piped cooking gas to households.
India on Tuesday opened its largest oil and gas bid round, offering 25 blocks covering 1.91 lakh square kilometers mostly in offshore area, as the government looks to boost domestic production to cut imports and help energy security. Petroleum Minister Hardeep Singh Puri launched the 10th bid round under the Open Acreage Licensing Policy (OALP) at the India Energy Week (IEW) in Mumbai.
A substantial deposit of petroleum and natural gas has been discovered in Pakistan's territorial waters, a cache so large its exploitation could change the country's destiny, according to a media report. A three-year survey was undertaken in collaboration with a friendly country to verify the presence of the oil and gas reserves, DawnNewsTV quoted a senior security official as saying on Friday.
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