Domestic output is stagnating and the expensive LNG will meet the rising energy demand of the growing economy.
With domestic production of just over 140 million standard cubic meters per day meeting barely half the demand, India is importing 10 million tons of liquefied natural gas per annum and is looking at unconventional sources like shale gas.
Reliance hold 90 per cent interest and is the operator of the deep-sea block KG-DWN-2001/1 (D9).
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.
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.
Oil Minister Dharmendra Pradhan said the current rate of $4.2 per million thermal units will continue till September end.
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.
Most CNG pumps, including those operated by Mahanagar Gas Limited (MGL), saw long queues from early morning, particularly of black-yellow taxis and autorickshaws, with several drivers reporting wait times of three to four hours, compared to the usual 15 to 30 minutes.
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.
Rural India outpaced urban centres in passenger vehicle sales in 2025, recording a growth of 12 per cent compared with 8 per cent in cities.
As the government began consultations with stakeholders on raising gas prices, gas producers and consumers met a committee of secretaries separately with their pleas on the issue.
Oil Ministry is likely to announce the new rates sometime this week.
The Union Cabinet in June decided to price all domestically produced natural gas at an average of the price prevailing at international gas trading hubs and the actual cost of importing liquid gas.
RIL has been selling gas from KG-D6 at the same price since it started production in April 2009.
India's eight key infrastructure sectors' output stood at 3 per cent in September, slower than the 6.5 per cent expansion recorded in August, according to official data released on Tuesday. The core sectors' output growth was 2.4 per cent in September last year.
The newer gas finds will help turn the tide for ONGC, which has seen oil and gas output stagnating in recent times.
United States President Donald Trump reiterated the claims of having to do 'something' about Greenland, saying that if US doesn't take any action, Russia and China would spring in and that Washington, DC does not want to have them as neighbours.
The government has raised the prices of natural gas by more than double to $4.20 per mmBtu, leading to a hike in power and fertiliser production costs. However, a hike in CNG rates will come into effect only from next week.
The OilMin is likely to announce the price for next six months soon.
Currently, the gas pipelines have a capacity to transport 230 mmscmd of gas.
Wholesale price inflation (WPI) fell to (-) 1 .21 per cent in October, driven by a decline in prices of food articles like pulses and vegetables, as well as lower fuel and manufactured items' prices, government data showed on Friday.
EC on Monday asked the government to defer notifying doubling of price of the fuel produced by companies such as Reliance Industries till general elections are completed.
From the USA to UAE, Canada to Italy, Indian-origin cricketers will represent associate nations at the T20 World Cup. Meet the Desis chasing global glory at a home away from home.
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.
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.
The Brihanmumbai Municipal Corporation (BMC) has issued stop-work notices to 53 construction sites for contributing to air pollution in Mumbai. The civic body has also directed strict adherence to air pollution guidelines, including the use of AQI monitoring sensors. The Bombay High Court has also addressed the issue of air pollution in the city.
Eight infrastructure sectors' growth slowed down to 2 per cent in July 2025 from 6.3 per cent in the same month last year, according to official data released on Wednesday.
As of now, no firm has launched a flex-fuel vehicle in India, as these models are more expensive than comparable petrol-run vehicles.
Blue Energy Motors, a Mumbai-based outfit, is set to disrupt the market for two million heavy-duty trucks running on diesel and petrol in the case of routes under 500 km by transforming them into electric.
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.
India's eight key infrastructure sectors' growth jumped to a 13-month high of 6.3 per cent in August 2025 on account of expansion in coal, steel, and cement production, according to official data released on Monday. The core sectors' output growth was 3.7 per cent in the previous month of July.
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).
Brent crude oil prices can touch $150 a barrel (bbl) - up a whopping 103 per cent from the current levels - in the worst-case scenario if the Israel-Iran geopolitical tensions escalate, suggest analysts.
The operating performance of the country's largest passenger carmakers, Maruti Suzuki India (MSIL) and Hyundai Motor India (HMIL), in the July-September quarter (Q2) of 2025-26 (FY26) outpaced brokerage expectations.
Price rise will benefit only a particular company, says Jayalalithaa.
After Delhi, CNG price in Mumbai has been hiked by Rs 1.50 per kg and the rate of cooking gas piped to houses by Re 1 due to rise in input costs. Mahanagar Gas Ltd, which retails CNG to automobiles and piped natural gas to households for cooking purposes in Mumbai and surrounding cities, said the increased prices will come into effect from the intervening night of July 8 and 9.
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.
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.
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.
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.
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