BUSINESS
Indian refiners imported almost 40 percent of crude oil from Russia during May despite threat of Trump’s sanctions
Despite continued threat of sanctions on Russia, India has continued buying oil from Moscow on account of discounts offered, especially on sour grade crude Urals.
BUSINESS
Early monsoon a ‘good sign’, but watch the geospatial spread to assess crop yield, say experts
Early monsoon would translate in early sowing by farmers in the upcoming Kharif season, however, the geospatial as well as time spread of the rainfall will be crucial to track, given the erratic pattern seen in recent years.
BUSINESS
US-India trade deal: GM corn, soya and walnuts expected to be top points of negotiation
Allowing imports of corn could also prove beneficial to India as the country plans to increase ethanol blending in petrol with the government pushing for grain-based ethanol production.
BUSINESS
Maize, broken grain may power ethanol shift as govt targets higher petrol blending
An inter-ministerial committee is working on ways to ensure food security while ramping up ethanol production, as India plans to increase ethanol blending in petrol beyond 20 percent.
BUSINESS
Despite trade restrictions, Numaligarh Refinery expects to nearly double diesel exports to Bangladesh
NRL expects a sharp increase in diesel exports to Bangladesh in 2025 to the tune of 130 thousand metric tonnes (TMT), as compared to 70 TMT supplied to the neighbouring country in 2024.
BUSINESS
Centre launches Depot Darpan e-portal to improve efficiency and real-time monitoring of food grain storage
Depot Darpan would create a seamless digital monitoring ecosystem that includes CCTV surveillance and IoT sensors to monitor key parameters to ensure security and efficiency in food grain storage.
BUSINESS
Petronet LNG Q4 net profit rises 45% YoY, declares dividend of Rs 3/share
The revenue from operations came in at Rs 12,315 crore in Q4, lower than Rs 13,793 crore in the same period last year.
ECONOMY-2
Centre launches farmers’ awareness programme to boost yield in upcoming Kharif season
Shivraj Chouhan, Union Minister of Agriculture and Farmers’ Welfare, said the government has launched Viksit Krishi Sankalp Abhiyan from May 29 to June 23 to educate farmers on critical information which would help them to further increase yield in the upcoming Kharif season.
BUSINESS
Govt starts negotiations with auto OEMs over new ethanol blending target for India
Industry experts told Moneycontrol that automakers would have to make some changes in the engine for the vehicle to be compliant with a fuel having an ethanol blend of over 20 percent, increasing the overall cost by 2.5 percent to 4 percent.
BUSINESS
GAIL Q4: Net profit falls 6% to Rs 2,049 crore, board declares dividend of Re 1 per share
GAIL Q4 results: Revenue from operations came in at Rs 35,707 crore, up from Rs 32,334 crore in the last year
BUSINESS
India likely to prioritise strategic petroleum reserves as ceasefire sets in: Economists
Typically, countries have reserves for up to 120 days, while India has reserves for around 74 days.
BUSINESS
Oil reserves, crude tie-ups to ensure India’s energy security amid rising border tensions
India’s oil marketing companies on May 9 urged consumers against panic buying, assuring of sufficient fuel stocks to meet country’s energy demand.
BUSINESS
No shortage of food grains, reserves are sufficient, says Agriculture Minister Shivraj Chouhan
Shivraj Singh Chouhan, Union Minister of agriculture and farmers welfare said the nation's rice and wheat reserves are full, and sufficient fruit and vegetable stock is being maintained. India also has a buffer of pulses, ensuring food security.
BUSINESS
India-Pakistan tensions: BPCL assures uninterrupted fuel availability, urges consumers against panic buying
State-run BPCL said the company’s supply chain operations remain robust with its fuel stations having sufficient supply of petrol, diesel, compressed natural gas (CNG) and LPG cylinders.
BUSINESS
Indian Oil says ample fuel stock, urges consumers not to panic buy
The oil marketing company says it has enough stock of oil and LPG as its supply lines are also working fine
BUSINESS
Indian farmers to benefit from suspension of Indus Waters Treaty, says Shivraj Chouhan
The government will work on a short, mid and long-term plans to use the water to help Indian farmers, Chouhan has said
BUSINESS
India-Pakistan tensions not to impact crude prices as supply chains are intact, say experts
India is the third-largest oil consumer in the world, with domestic demand of close to five million barrels a day. Pakistan’s oil consumption stands at over 500 thousand bpd
BUSINESS
ONGC yet to engage foreign player in KG Basin block to ramp up production to 45,000 bpd
Besides enhancing oil production, ONGC expects non-associated gas production of around 4 million standard cubic metres per day from the remaining wells in Cluster-2 of its block in the KG Basin.
BUSINESS
Govt includes khandsari sugar units with crushing capacity over 500 TCD under Sugar Control Order, 2025
The government said a substantial amount of khandsari or raw sugar is being produced in the country. Data showed that out of 373 khandsari units operating in the country, 66 such units have crushing capacity of over 500 TCD.
BUSINESS
Airlines sign cheaper ATF deals with OMCs for 2025 as crude prices fall
Senior executives from the domestic carriers told Moneycontrol they negotiated for lower jet fuel prices as part of their yearly contracts with oil marketing companies following a nearly 30 percent fall in the price of crude, from around $95 a barrel in November 2024 to $60 a barrel in March 2025.
BUSINESS
Indian Oil not in ‘active negotiations’ with Russia on crude term-deal amid geopolitical uncertainties: CMD
The share of Russian oil in Indian Oil Corporation Limited’s (IOCL) kitty fell to 22 percent in the financial year 2024-25 (FY25), compared to 30 percent in the previous year (FY24), the company’s chairman and managing director AS Sahney said.
BUSINESS
BPCL Q4 results: Net profit declines 24% to Rs 3,214 crore, firm declares Rs 5 dividend
BPCL Q4 results: Revenue falls 4% to Rs 1.27 lakh crore
BUSINESS
Cairn expects over 30,000 bpd of oil from its west coast portfolio in 2-3 years: CFO
The company currently produces around 8,000 to 9,000 barrels of crude from its existing blocks in west India.
BUSINESS
RIL oil-to-chemicals Q4 results: Revenue increases by 15.4%, but EBITDA slips on weaker fuel cracks
The oil and gas revenue dipped slightly to Rs 6,440 crore as lower production and offtake from KG-D6 were partially offset by higher gas prices and increased CBM output.
