BUSINESS
Favourable March weather likely to support India’s wheat production in 2025
During the 2024-25 crop year (July-June), India’s wheat production is expected to be 8.2 percent higher than last year as the area under wheat has expanded to 328 million hectares, according to the Roller Flour Millers Federation of India.
BUSINESS
India’s crude oil imports from Russia fall 11% in Feb amid US sanctions
During the month, India ramped up crude oil supplies from non-traditional sources such as Nigeria, Brazil and others to shield itself from the geopolitical uncertainties.
BUSINESS
As BP, Shell scale back energy transition plans, where do Indian oil companies stand?
As the country plans to achieve net-zero emissions target by 2070, Indian oil companies have set their respective goals to cut greenhouse gas emissions. Despite ambitious plans by Indian oil companies, the projects taken up by the firms for energy transition have not picked up pace as expected.
BUSINESS
HPCL may be hit by short-term non-availability of Russian oil but sees no shortfall in oil supply
The state-owned oil marketing company has tied up with suppliers for its crude requirements for the next three months, highlighting that the market faces no supply shortfall, chairman Rajneesh Narang told Moneycontrol.
BUSINESS
Energy push: Assam secures key investments in developing green energy infra, boost exploration activities
Assam received investment proposals worth over Rs 2 lakh crore on the first day of Advantage Assam 2.0 with the energy sector securing a prominent share of the funds announced by companies including Reliance Industries Limited, Adani Group and Vedanta’s Cairn Oil & Gas.
BUSINESS
Oil PSUs spend 98% of annual capex target by December amid rising energy demand
The increased spending comes as oil PSUs set up new petrochemical facilities, ramp up efforts to boost exploration activities and improve gas infrastructure to cater to India’s rising energy consumption.
BUSINESS
India turns to Middle East, new crude sources amid limited Russian oil supply against backdrop of US sanctions: Kpler
At 1.45 million barrels per day of crude oil from Russia till February 23, India's import from that country slipped 13.17 percent from January, when it shipped in 1.67 million barrels, showed data from the commodity market analytics firm.
BUSINESS
Numaligarh Refinery seals bigger diesel deal with Bangladesh: MD
The company’s diesel exports to Bangladesh would be 1.5 times higher in the next fiscal, thanks to rising demand.
BUSINESS
Pricing Power: India may ramp up energy imports from the US, provided the deal is good
Increased US LNG supplies would be a big positive for India as the country sells the cheapest gas in the international market.
BUSINESS
India’s US oil pledge may not inflate import bill if OMCs broker reasonable prices
After a meeting between Prime Minister Narendra Modi and US President Donald Trump on February 13, both nations committed to increasing energy trade and establishing the US as a leading supplier of crude oil and petroleum products and liquefied natural gas to India.
BUSINESS
Expect no further changes in CNG prices: Mahanagar Gas' MD
Mahanagar Gas had hiked CNG prices after the government reduced APM gas allocation to the City Gas Distribution (CGD) companies twice in October and November. With partial restoration of APM gas availability to CGD companies in January, Shinghal said the company’s CNG prices are at par with the cheaper gas allocation.
BUSINESS
Delhi earthquake: Why did the low-intensity temblor send the strongest tremors?
The impact of a 4.0 magnitude earthquake that struck the capital at 5.36 am was stronger than a higher-magnitude one as it was a shallow-level earthquake, said experts.
BUSINESS
BPCL expects to get gas from Mozambique LNG project by 2029, says CMD
BPCL, ONGC Videsh, and Oil India together hold a 30 percent stake in the Mozambique project. BPCL holds a 10 percent share in the project, which has been plagued by delays
BUSINESS
Oil Minister Puri flags supply, price stability as key energy challenges for 2025
But the world is moving towards peace, which is a big positive for the energy markets, Puri said on the sidelines of India Energy Week 2025.
BUSINESS
India’s energy import strategy depends on discounts on offer, says Oil Minister Hardeep Puri
The global energy market is witnessing a major shift, with Russia diverting oil towards the Asian market, and the US deciding to pump more oil and gas.
BUSINESS
‘Fundamental transformation’ in India’s relations with global energy players: Oil Minister Hardeep Puri
Domestic refiners have diversified their crude oil sourcing and are now buying from more countries than before, to secure supplies. India is currently purchasing crude oil from 40 countries, compared to only 27 nations supplying in 2007.
BUSINESS
Crude term-deal with Russia hinges on discounts offered: BPCL
BPCL is seeking a $5-$6 a barrel discount and talks with Moscow are still on, BPCL's director of finance Vetsa Ramakrishna has said
BUSINESS
Exclusive| BPCL, Saudi negotiating crude oil deal for Andhra refinery
BPCL will enter into a long-term deal of 15-20 years for supply of crude oil for the new refinery, if Saudi Arabia agrees to provide “good discounts” on purchase of oil for the refinery, said Vetsa Ramakrishna, Director- Finance, on the sidelines of India Energy Week 2025.
BUSINESS
Major E&P push in India as largest OALP bidding gets underway with 19 offshore blocks on offer
The OALP-X bid round, launched at the sidelines of India Energy Week 2025, offers a total of 25 blocks spread over 13 sedimentary basins, covering an area of approximately 1.91 lakh sq km.
BUSINESS
India is driving world’s growth, energy sector plays an important role: PM Modi
The third edition of India Energy Week, organised by the Ministry of Petroleum and Natural Gas (MoPNG), is being held in Delhi from February 11 to February 14
BUSINESS
Oil India Q3 profit slips 44% to Rs 1,457 crore; declares Rs 7/share interim dividend
Oil India announced second interim dividend of Rs 7 per share for the financial year 2024-25, which would be paid on or before March 8, 2025, the company said in an exchange filing.
BUSINESS
India’s crude oil imports from Russia surge 13% in Jan despite latest US sanctions
In January, India imported 1.67 million barrels per day (bpd) of crude oil from Russia—up 13 percent from December 2024—showed data from commodity market analytics firm Kpler. Russia supplied 1.48 million bpd of crude oil to India in December.
BUSINESS
Indraprastha Gas to increase capex by 20% in FY26, eyes acquisition of smaller CGD firms: Managing Director KK Chatiwal
The acquisition of smaller CGD companies would increase the number of geographical areas (GAs) under IGL, which currently has 11 GAs across 32 districts in the country.
BUSINESS
PM Fasal Bima Yojana's allocation in Budget 2025 drops 23% to Rs 12,242 crore
Fasal Bima Yojana is a flagship scheme launched in 2016 to provide financial support to farmers suffering crop loss or damage due to natural calamities
