Connected oil reservoir? Share or surrender
0The oil ministry proposes allowing oil companies to jointly develop oil fields with connected reservoirs, aiming to avoid disputes like the ONGC-RIL case. Licensees must agree...
oil-&-gas
India to save Rs 1.8 lakh cr on import bill on softening global oil prices
0India could save up to ₹1.8 lakh crore on crude oil imports and ₹6,000 crore on LNG imports in FY2026 if global oil prices remain in...
Maharashtra govt mulling policy to deny fuel to unfit vehicles: Minister
0The Maharashtra government is contemplating a new policy to combat air pollution by denying fuel to vehicles lacking valid Pollution Under Control (PUC) certificates. Minister Pratap...
Compensation for oil companies if changes in law shave off $5 mn in earnings a year
0The government is set to protect oil and gas explorers. New contracts will compensate them if laws reduce economic benefits. Adjustments to royalties and revenue share...
Oil prices fall below $60 per barrel, time ripe for hike in fuel duties
0Oil prices have dipped below $60 a barrel, potentially boosting Indian refiners’ margins. While petrol and diesel prices may remain stable for consumers, jet fuel could...
Shell, Reliance & ONGC JV completes India's first offshore facilities decommissioning project
0A joint venture, including Shell, Reliance Industries Ltd, and ONGC, has successfully completed India’s first offshore decommissioning project. The Tapti field, ceasing production in 2016, saw...
Saudi push into Indian refining is stalling over crude supply
0Saudi Arabia’s efforts to invest in Indian oil refineries are facing hurdles due to disagreements over crude supply terms. Saudi negotiators are pushing for supplying half...
'Bombshell' OPEC+ output hike hits oil price
0Oil prices fell due to increased production by OPEC+ members. Asian stocks showed mixed performance with major markets closed. Saudi Arabia and Russia are among those...
Barclays cuts 2025, 2026 Brent crude forecast as OPEC+ accelerates output hikes
0Barclays has revised its Brent oil price forecast downward, projecting $66/bbl for 2025 and $60/bbl for 2026. This adjustment is primarily attributed to OPEC+’s decision to...
Petrol, diesel demand rises in April as summer fuels consumption
0India’s diesel consumption rebounded in April with a 4% increase, driven by summer irrigation and air conditioning demands, marking the highest volume for the month and...