BUSINESS
Oil ministry's allocation in Budget 2025 rises 11% from last year
Budget 2025: The government granted Rs 12,100 crore to the oil marketing companies for liquified petroleum gas subsidy in the Union Budget 2025, compared to Rs 14,700 crore (RE) received for the fiscal 2024-25
BUSINESS
No compensation announced for LPG under-recovery in Budget 2025; OMCs shares tank
Budget 2025: For 2024-25, the government allocated Rs 14,700 crore for total LPG subsidy to the OMCs, showed budget documents. The OMCs have been allocated Rs 12,100 crore for 2025-26 for LPG subsidy.
BUDGET
Jal Jeevan Mission extended till 2028 with enhanced outlay to achieve 100% coverage
Budget 2025: The Jal Jeevan Mission, launched in 2019, aims to provide drinking water to every rural household
BUSINESS
Budget 2025 | Roadmap for inclusion of natural gas under GST expected on Feb 1, says IGL head KK Chatiwal
Despite the long-standing demand of the oil and gas industry, petroleum products including petrol, diesel, natural gas and aviation turbine fuel (ATF) have not been included under GST, on account of opposition from the state governments.
BUDGET
India’s agri sector demonstrates growth on back of favourable weather, enhanced productivity: Eco survey
The survey said the agriculture sector recorded a growth rate of 3.5 per cent in the second quarter of FY25, a recovery compared to the previous four quarters, during which growth rates varied from 0.4 percent to 2 percent.
BUSINESS
Russian oil share to dip for Indian Oil as firm secures no purchase since Jan 10 sanctions
Indian Oil remains confident about energy availability for India saying US sanctions imposed on Russian oil would have "marginal impact" on crude availability for the country, said Chairman A S Sahney.
BUSINESS
Budget 2025: Agri industry seeks measures for yield improvement, climate-resilient farming
Agriculture and allied sectors employ 46 percent of the country’s population. However, India’s gross value added from agriculture at Rs 23 lakh crore is a mere 18 percent of the total GVA.
BUSINESS
Budget 2025-26| Indian Oil expects govt compensation as LPG under-recovery hits Rs 14,325 cr: Chairman
India’s oil secretary Pankaj Jain said that the Ministry of Petroleum and Natural Gas has urged the finance ministry to compensate oil companies.
BUSINESS
India committed to buy economically-priced energy: Oil minister Hardeep Singh Puri
Indian refiners including IOCL, BPCL and HPCL have been in talks with Russia for finalising crude oil term-deals.
BUSINESS
India’s oil imports from US likely to go up but refiners to evaluate logistics costs, discounts
The jump in India’s imports from the US could arise from increased output under new President Donald Trump but the actual increase hinges on a host of factors.
BUSINESS
Beti Bachao, Beti Padhao: Going strong a decade since launch
Launched by Prime Minister Narendra Modi in Panipat in 2015, the key focus of the scheme is spreading awareness and an advocacy campaign for changing mindsets, and enabling girls' education.
BUSINESS
Ethanol blending in petrol reaches highest ever level of 18.2% in December
The government is targeting 20 percent ethanol blending in petrol in the Ethanol Supply Year 2024-25, which ends in October 2025
BUSINESS
RIL O2C Q3 results: Revenue up by 6%, EBITDA rise 2.4% amid strong product sales
RIL Q3 results: The oil and gas segment of the company reported a fall of 5.2 percent in revenue from last year to Rs 6,370 crore on account of lower production from the KGD6 block.
BUSINESS
India to turn to Middle Eastern suppliers for crude oil as US tightens sanctions on Russia
India, which currently imports around 30 percent of its crude oil requirements from Russia, is expected to diversify sources, leaning towards the Middle East on account of proximity.
BUSINESS
India Energy Week to shape global energy discussions for 2025: Oil secretary
India’s key energy event would shape global energy discussions for the year, said Pankaj Jain, secretary, ministry of petroleum and natural gas
COMPANIES
IGX in advanced stage of receiving regulatory nod for launch of long-term contracts
IGX had applied for Petroleum and Natural Gas Regulatory Board approval in March 2024 for introduction of three-month, six-month, and 12-month or yearly contracts on the trading platform
BUSINESS
Budget 2025: Oil & gas industry awaits inclusion of petroleum products under GST, compensation for LPG losses
The industry remains hopeful for any comments by the finance minister on the long-standing demand on the GST front, and is also looking for the government's position on green energy.
BUSINESS
Crude prices dip, but OMCs unlikely to cut fuel prices amid weak profitability and LPG losses
Energy experts told Moneycontrol that the companies are unlikely to cut fuel prices as OMC profitability has dipped in the current fiscal so far compared to last year.
BUSINESS
Oil PSUs' capex rises 30% YoY in Apr-Nov 2024 amid increase in energy projects
In the April to November 2024 period, the oil PSUs spent Rs 97,667 crore from the annual target of Rs 1,06,401 crore
BUSINESS
India's petroleum demand to grow 3-4% in FY25: Fitch Ratings
The growth in the current fiscal is supported by rising consumer, industrial and infrastructure demand, the rating agency said in the report, projecting India’s GDP growth at 6.4 percent in FY25.
BUSINESS
25 years of Jamnagar refinery: How RIL redefined the petrochemical landscape of India
The world’s largest integrated, single-site refinery complex — the Jamnagar refinery — has the highest crude processing capacity globally of 1.4 million barrels per day (mmbpd)
BUSINESS
Higher travel demand amid holiday season boosts petrol, diesel consumption in Dec
In December, the country’s diesel consumption was 8,048 thousand metric tonnes (TMT), compared to 7,603 TMT in the previous year. Meanwhile, petrol consumption in December was 3,305 TMT, as against 2,990 TMT in the same period last year.
BUSINESS
India's fuel consumption surges in 2024, driven by higher petrol demand
India’s petrol consumption rose by almost 8 percent in the year till November from the previous year, while diesel—the most consumed petroleum product in the country—witnessed a growth of 2.4 percent in the same period, according to the oil ministry data.
BUSINESS
India’s import of Russian crude oil falls in December, ramps up supplies from Middle-East countries
India imported 1.44 million barrels per day (bpd) from Russia in December, declining from 1.78 million bpd in the previous month. To supplement the drop in Russian volumes in the month, refiners increasingly turned to traditional Middle-Eastern suppliers.
