Analysts predict India will face oil price volatility and macroeconomic effects due to the escalating Iran crisis, though the country's oil supply chain is not yet structurally insecure.
Responding to concerns raised by Leader of the Opposition Rahul Gandhi in the Lok Sabha, Petroleum Minister Hardeep Puri said it is the foremost priority of the government that the kitchens of over 33 crore families, especially the poor and the underprivileged, do not face any shortage of gas.
Prime Minister Narendra Modi addressed Parliament on the West Asia crisis, advocating for dialogue and diplomacy, ensuring the safety of Indians in the region, and addressing concerns about fuel and food security.
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.
'Nobody explained why. After that there was panic buying, there was hoarding -- and then nothing reached us.'
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.
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.
'The immediate impact for India will be very minimal as the share of Venezuela in our total overseas production is very low.'
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.
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 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 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.
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?
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.
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.
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
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.
According to the minister, the government views the incident with utmost seriousness.
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.
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.
The actor-politician however, said they should not try to destroy such a huge industry like cinema.
As of now, no firm has launched a flex-fuel vehicle in India, as these models are more expensive than comparable petrol-run vehicles.
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.
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.
'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.
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.
UBS Investment Research in its latest report estimated that ONGC and GSPC may get at least $5.5 per million British thermal unit for natural gas they will pump out from their respective Krishna-Godavari basin blocks. RIL is to get a fixed price of $4.2 per mmBtu for gas it would produce from Dhirubhai-1 and 3 fields in KG-D6 block from December-January, for the next five years.
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.
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.
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.
Govt was vary of giving BJP-leader and Gujarat Chief Minister Narendra Modi any kind of advantage on the eve of elections in the state.
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.
Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said. The oil refining and marketing company, which was the top bidder even in the previous auction of gas from the eastern offshore KG-D6 block of Reliance-bp, bid the volumes on behalf of seven fertilizer plants.
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.
Puri said Pakistan was a country in "terminal decline" periodically using terrorism as an instrument of state policy.
Sumitra Mahajan on Tuesday took over as the minister of state for petroleum and natural gas.
