Oil

New routes, more Russian barrels on cards as petroleum ministry, refiners draw up contingency plan

The ministry of petroleum and natural gas held multiple meetings with the refiners over the weekend, taking stock of the West Asia situation and charting contingency plans including alternative regions and routes for supply of crude oil

Oil rockets to four‑year high on West Asia tensions, Strait of Hormuz disruptions

Brent crude futures climbed as much as 13% to $82.37 a barrel, the highest since January 2025, and traded at $79.34 by 2305 GMT, up $6.47, or 8.88%.

Half of India’s oil imports at risk as US-Israel strike on Iran raises Hormuz supply fears

For the markets reopening, analysts expect prices to move higher again. If shipping through key routes is affected, crude could move toward $80 or higher.

Russian crude reliance raises operational risks for sanction-hit Nayara Energy

Nayara's Vadinar refinery is scheduled for a major maintenance in April–May, during which crude imports from Russia are expected to decline, data and analytics firm Kpler has said

ONGC Videsh hopeful of resuming Venezuela operations as US moves to ease sanctions, liberalise crude trade

For the coming fiscal, ONGC is targeting production of 42.5 million tonnes of oil equivalent and has charted out a Rs 32,000-33,000 crore capex plan

Indian refiners ease Russian crude intake; overall imports seen resilient in short term

While the Russian volumes could soften further, following the announcement of the US–India trade deal, a complete halt looks unlikely for now, analysts say.

Yemen, oil and power: How 'iron brothers' Saudi Arabia and UAE turned into rivals | Explained

Yemen became the most visible battleground, but the rupture runs far deeper, reshaping alliances, military planning, and the future balance of power in the Gulf.

RIL O2C results: Revenue rises 8.4% to Rs 1.62 lakh crore, EBITDA up 14.6%

Oil & gas segment revenue for the quarter declined by 8.4% to Rs 5,833 crore from the last year mainly on account of lower volumes and price realisation for KGD-6 gas and condensate.

India’s silver imports up 129% on price rise, supply concerns

The surge in silver imports comes at time when gold has slipped and petroleum growth slowed, likely driven by global price spikes and China export curbs

OMCs likely to register strong Q3FY26 on higher refining margins

Recognition of LPG under-recovery compensation from November 2025, along with lower per-cylinder LPG under-recoveries on-quarter, should provide support to blended marketing margins, as per Motilal Oswal.

US sanctions unlikely to deter Indian appetite for Russian oil, imports may pick up in January: Kpler 

Russian crude continues to find its way into India through an expanding network of intermediaries, traders, and logistical workarounds. The Middle East, Latin America and US continue to act as diversification buffers.

The Venezuela Strike: Stable oil supply, but heightened global uncertainty

Despite the dramatic U.S. military capture of Nicolás Maduro, Venezuela's marginal oil production—under 1% of global supply—ensures stable near-term flows, yet escalating geopolitical risks could inject lasting uncertainty into energy and financial markets.

Oil slips below $60 on Russia-Ukraine peace deal talks, weak China data

China's factory output growth slowed to a 15-month low, official data showed. Retail sales also grew at their slowest pace since December 2022, during the COVID-19 pandemic.

IOCL, BPCL, HPCL and other Indian refineries to produce 2 lakh tonnes of green hydrogen by 2030

Indian refineries are among the country’s largest consumers of grey hydrogen, which is produced from natural gas or naphtha through steam methane reforming, a process that emits significant amounts of carbon dioxide.

IOC Q2 Results: Maharatna PSU posts 285 percent jump in quarterly profit

IOC's revenue from operations stood at Rs 2.07 lakh crore during the July-September quarter, up 4 percent on year, against Rs 1.99 lakh crore posted in the same period last year.

India demands lowering of non-tariff barriers to begin FTA talks with Russia-led bloc

To sustain rupee-based trade, India has asked Russia to ease exports to narrow the widening trade deficit

RIL O2C Q2 results: Revenue rises 3.2% to Rs 1.60 lakh crore, EBITDA up 21%

Domestic demand for jet fuel fell 2% in the September quarter, which O2C (Refining) COO Srinivasan T attributed to increased safety checks by airlines following the Ahmedabad plane crash.

India sees room to add $14-15 bn annually in energy imports from US, says Commerce Secretary

An India team is in the United States this week to address issues around tariffs, Commerce Secretary Rajesh Agarwal said on October 15.

Initiation of an India-Qatar trade deal on agenda as Piyush Goyal meets Sheikh Faisal in Doha

India is exploring an FTA with Qatar to secure alternative export markets and cushion its exporters from rising tariff pressures in the US.

Nitin Gadkari Exclusive | Ethanol blending controversy is work of the petroleum lobby

Nitin Gadkari says he will double the speed of building roads and highways in India. Exclusive on impact of tariffs, Bihar elections, GST rationalisation and more.

India says ‘actively involved’ in trade talks with USA, hours after sparring over Russian ties

On the steps being taken by Centre to safeguard India’s agriculture, Jitin Prasada said international negotiations allow for the inclusion of sensitive, negative, or exclusion lists – or categories of goods on which limited or no tariff concessions are granted.

Chart of the Day: Can India avoid the penalties over Russian oil?

Russian oil is at a deep discount but walking away from Moscow and towards other oil suppliers would be easy.

Donald Trump’s EU oil and gas deal is ‘pie in the sky’, energy experts warn

Analysts dismiss plan but executives welcome sign of more support for fossil fuel exports