Sanjeev Choudhary

Indian Oil Corp is reassessing its proposed ₹33,000 crore greenfield refinery in Tamil Nadu after an internal evaluation raised concerns about its

India's fuel exports hit a one-year peak in July, driven by strong diesel margins. Russia's diesel export ban and global supply voids created favorable conditions for Indian refiners. Ample crude availability after a brief Iran-US truce also boosted refinery runs. Refineries like Reliance Industries and Nayara Energy processed more crude volumes. These factors combined to maximize Indian refiners' export capabilities last month.

India's fuel exports hit a one-year peak in July, driven by strong diesel margins. Russia's diesel export ban and global supply voids created favorable conditions for Indian refiners. Ample crude availability after a brief Iran-US truce also boosted refinery runs. Refineries like Reliance Industries and Nayara Energy processed more crude volumes. These factors combined to maximize Indian refiners' export capabilities last month.

Five city gas distributors led national compressed biogas sales in 2025-26. The overall blending ratio reached 0.92%, nearing the government's one percent mandate. Torrent Gas and BPCL spearheaded efforts to blend biogas with natural gas supplies. India currently operates 207 functional compressed biogas plants to boost output. A new scheme aims to strengthen the biogas program through assured demand and stable pricing.

Indian refiners are facing a sharp rise in crude procurement costs as tightening physical supplies push Gulf and West African grades to higher premiums. Russian oil discounts have largely disappeared, while Venezuelan discounts have narrowed. Refiners are turning to costlier spot markets and distant suppliers as disruptions squeeze term-deal supplies.

The cost of crude oil for Indian refiners is rising faster than global benchmarks as tightening physical supplies drive premiums higher for Gulf and West African barrels. At the same time, discounts on Russian oil have vanished and those on Venezuelan crude have narrowed sharply.

The government will provide cheaper domestic gas to distributors. This incentivizes converting inactive piped natural gas meters into working connections. The scheme aims to increase piped natural gas customers across India. This initiative will reduce reliance on imported Liquefied Petroleum Gas. The program is set to begin on September first.

ONGC Videsh will invest $200 million to revive Venezuela's San Cristobal oilfield. The company secured a US license for continued operations and investments. This investment aims to significantly increase current production levels. The ultimate goal is to restore output to its previous peak. ONGC will fund PDVSA's share and recover costs from future production.

Ongc: Oil and Natural Gas Corporation plans a significant $200 million investment to rejuvenate the San Cristobal oilfield in Venezuela, aiming to boost production from a mere 5,000 barrels a day back to its peak of 50,000 barrels. This investment comes amid U.S. sanctions and declining operations at PDVSA, Venezuela's state oil firm. Stay updated on OVL's strategic moves in the Venezuelan oil sector.

India's top gas marketer GAIL opposes a new platform for booking LNG terminal capacity. GAIL states this platform will add costs for consumers without significant value. The company believes existing frameworks do not require a separate booking platform. High global LNG prices already pressure downstream natural gas consumers. Much of India's LNG regasification capacity remains underutilised currently.