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Shrinking Inventories, Slowing Demand: Sans War Crude Prices Will Drop, Extent Of Fall Uncertain
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The Trump Administration’s Continued Obsession With Russian Oil
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India Increases Imports Of Crude From Venezuela, US Imports Fluctuate
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Indian Govt. To Spend Rs 840 Billion In Search Of Oil In Deep Waters
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India Successfully Manages The LPG Crisis
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Striving To Raise Share Of Natural Gas In India’s Energy Mix
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India Keen To Enhance Share In Global VLGC Fleet
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High Procurement Cost Of Ethanol Triggers Fresh Controversy
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ONGC-OIL Joint Operating Agreement For Exploration Blocks
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India’s Solar Growth Enters A New Era
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Union Cabinet Approves Offshore Exploration Scheme
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Cabinet Approves Gobardhan Scheme
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CPCL Plans Manali Refinery Expansion To 280,000 Bpd
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IOC Launches Indane XTRALITE LPG Delivery Service In Delhi
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Fugro
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Fugro Awarded Three-Year Deepwater ROV Contract In India
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GRSE Bags ONGC Contract To Build Four Platform Supply Vessels
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August 14, 2026: A Graphic Presentation Of Domestic Natural Gas Scene in June '26. Click Gas Scene for details.
August 13, 2026: Global Natural Gas Price Trends. Click column Gas Scene for details.
August 12, 2026: Indian Crude Basket Price Down In July M-o-M, Up Y-o-Y. Click column Special Database for details.
August 10, 2026 | Alliance That Could Break With A Corrupt Past | India’s upstream oil and gas sector is dominated by two state-owned enterprises: Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL). The recently concluded Joint Operating Agreement (JOA) between ONGC and Oil India is very significant. If the two partners can bury their hatchets and differences, we could see a turnaround in the fortunes of India’s oil sector. India needs to harness the right people with the expertise to discover oil and gas in its sedimentary basins. The country does not have large hydrocarbon reserves and, therefore, the task of discovering oil and gas is not going to be easy. Until now, India has tended to drill recklessly and has the unenvious record of coming up with the most dud wells. This is a criminal waste of resources and fosters corruption. Click Free Access column Petro Intelligence to read an insightful piece.
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Russian share of India’s oil imports surges to record high in July
August 15, 2026: Indian dependence on Russia's crude surged to a record in July, with shipments from the country making up 50.83% of imports by the third-biggest oil buyer and consumer, or 2.47 million barrels per day, data from trade sources showed.
India's July imports of Russian oil were up 62.4% more..
Indian Refiners Snap Up Crude Months Ahead as Wars Upend Supply
August 15, 2026: Indian state-owned refiners are rushing to procure spot crude unusually far in advance as Ukrainian attacks on Russian energy assets and a stalemate over the Strait of Hormuz make supplies increasingly uncertain.
Processors, including Indian Oil Corp. and Hindustan Petroleum Corp., have already more..
Bangladesh imports around 7,000 tonnes of diesel from India
August 15, 2026: Around 7,000 tonnes of diesel from India have reached the Parbatipur depot in Dinajpur through the India-Bangladesh Friendship Pipeline. The latest consignment, which began arriving after 6pm on August 10, was fully delivered to the depot by 9:30am today, Friday.
The consignment contained more..
India’s crude oil demand to surge 7% in 2027
August 15, 2026: Organization of the Petroleum Exporting Countries or OPEC has stated in a monthly update that Indias crude oil demand is seen rising at an impressive pace.
OPEC expects local oil demand at 5.71 million barrels per day (mbpd) in 2026 and expects it to hit 6.11 mbpd in 2027 though bulk of these more..
IGL Q1 profit falls 44% to ₹2.38 billion as volatile LNG prices weigh
August 15, 2026: Indraprastha Gas Ltd (IGL), the country’s largest city gas distributor, reported a 44 per cent year-on-year (Y-o-Y) decline in consolidated net profit to ₹2.38 billion for April-June quarter (Q1) of FY26-27 (FY27) as high and volatile liquefied natural gas (LNG) prices affected margins amid more..
Petronet LNG Q1 FY27 Results: PBT and PAT Rise 33% to Rs 15.14 Billion and Rs 11.33 Billion
August 15, 2026: Petronet LNG Limited has reported a 33% year-on-year increase in standalone Profit Before Tax (PBT) and Profit After Tax (PAT) for the quarter ended June 30, 2026.
The company’s standalone PBT increased to Rs 15.14 billion in Q1 FY27, compared with Rs 11.36 billon in the corresponding more..
EIL Q1 FY27 PBT, PAT rise 55%; order book stands at Rs 144.24 billion
August 15, 2026: State-run Engineers India Limited (EIL) reported a strong financial performance for the quarter ended June 30, with Profit Before Tax (PBT) and Profit After Tax (PAT) rising 55 percent year-on-year.
EIL PBT increased to Rs 1.45 billion in Q1 FY27 from Rs 940 million in the corresponding quarter more..
Fire at Kalol field installation extinguished, production restored: ONGC
August 15, 2026: A fire that broke out at an Oil and Natural Gas Corporation (ONGC) installation in the Kalol field in Gujarat on Thursday has been contained. Emergency teams responded to the incident. No injuries were reported, the state-run energy company said.
The affected facility is located in the more..
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Impact of Ukraine war on International LNG trade. Lessons for India
by Dr Bhamy Shenoy
 Russian-Ukraine war has brought about
dramatic changes in international gas and oil sector because of the oil embargo
by the west and gas more...
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Time To Review Crude Sourcing Strategy
By R. Sasankan
The petroleum
industry is in a state of ferment. As the geopolitical crisis escalates and the
world economy starts to slow down, the demand-supply equation in crude oil has
been thrown out of kilter.
Crude oil prices have started to more...
India should establish an autonomous Energy Institute
by
Bhamy V. Shenoy*
Soon after the start of Israel-US
versus Iran war on February 28 and the blocking of strait of Hormuz, global oil
supply was reduced at least by over ten million barrels per day based on IEA
report. Magnitude of the supply loss was far worse than during the more...
Time To Rework Crude Import Strategy
By R. Sasankan
The war in Iran has dragged on for more than
six weeks - longer than President Donald Trump had anticipated. A brittle
two-week ceasefire has settled over the conflict zone as negotiators from both
sides prepare to resume peace talks with the outcome uncertain more...
India Should Prepare For $200/Barrel Oil Crisis On War Footing
By Bhamy V.
Shenoy
The oil shock
from the US-Israel war against Iran affecting every country excepting Russia is
the worst one by any standard. Still, international oil market has managed
reasonably well so far in terms of oil prices. After a month, oil prices have
gone up only more...
No Need To Expand Oil Caverns
By R. Sasankan
The war in Iran has entered the third week,
triggering a massive disruption in oil and gas supplies through the Strait of
Hormuz. Over a quarter of the world's oil supplies flow through the critical
chokepoint in the Persian Gulf. There is no indication when the more...
The Bells Toll For India’s Downstream Sector. Is Anyone Listening?
By R. Sasankan
The alarm bells have gone off in India's petroleum industry after a
recent report prepared by Integrated Global Services (IGS) claimed that
the country's downstream oil and gas industry is close to breaking point
because of its ageing energy infrastructure more...
Trump’s War Against Climate Change: Is It Worse Than Attack On Ukraine And Gaza?
by Bhamy V Shenoy
In what way the above title has
any relevance to readers who are interested in oil and gas sector or energy
sector in general? This is an obvious question. I should be able to convince
the doubters easily.
I asked AI a question: What more...
Andaman Basin: Time to Dial the Russians
By R. Sasankan
India's upstream
companies are swarming all over the Andaman Basinto find oil and natural gas
reserves in what promises to become the country's new energy frontier. The buzz
around the Andamans basin - which lies in the junction between the Indian more...
Why Fuel Prices Won’t Fall When Crude Rates Sink
by R. Sasankan
There
is an unexplained Paradox in India's petroleum sector: when global crude oil
prices tumble, consumers are robbed of their legitimate benefits at the pump.
Oil refiners coolly pocket the resulting profits, and the government actively
supports that more...
Natural Gas: Little Glimpse Of The Dream
By R. Sasankan
Greek mythological figure Sisyphus was condemned by the gods to
an eternal punishment where he must push a large boulder up a mountain,
only for it to roll back down to the bottom just as it nears the top.
The plight of India's energy planners more...
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ICIS Highlights US LNG Dominance and Shifting Power Price Dynamics
18th February, 2026: ICIS analysis presented last week at E-World (10-12 February, 2026) shows that Europe’s energy transition is entering a more volatile and politically sensitive phase, spanning LNG and gas supply, power market dynamics and short-term trading behaviour. Click more...
Third Lovraj Kumar Memorial Lecture by Dr Vijay Kelkar
September 19, 2024: Dr Vijay Kelkar’s single biggest contribution is acknowledged to be India’s Goods and Services Tax (GST). He has also made significant contribution to the oil and gas sector. He served as secretary in the Ministry of Petroleum and Natural Gas. The Third Lovraj Kumar Memorial Lecture delivered more...
The Failing Climate Negotiations – And the Need for India’s Leadership in Representing the Global South
 May 16, 2024: Dr Surya P.Sethi, eminent energy expert, wirtes on the Failing Climate Negotiations – And the Need for India’s Leadership in Representing the Global South.
Click more...
Qatar pauses Red Sea LNG traffic: ICIS analyst view
January 18, 2024: Click HERE to read article by Alex Froley, LNG Market Analyst at ICIS, examines the possible effects of ongoing disruptions in the Red Sea on global LNG trade.
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Can LNG replace Russian gas in Europe?
European LNG imports reached a record high in January 2022 and could go a little higher if Russian pipeline gas supply falls, or even stops completely. But the best-connected European LNG terminals are already running at high rates, and limits to cross-border pipeline gas capacity would restrict the wider benefit of higher imports into some... more...
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Speech of Former Petroleum Secretary, T.S. Vijayaraghavan, on Indias Petroleum Sector
Demand & Growth:
India's Crude
Oil demand has risen from 0.65 Million Barrels a day in 1980 to 3.7 Million
barrels and will reach 4 Million by 2016. Internal production is now less than 0.8
Million Barrels a day. It more...
The KG basin price hike socialises costs and privatises profits
Why the Rangarajan Committee's complex pricing formula will inflict heavy burdens on the power and fertiliser sectors and give a private gas producer windfall profits?
The ministry of petroleum and natural gas has proposed to increase the price of natural gas from the Krishna Godavari (KG) more...
Fire From Ice: A Promising New Energy Source
Massive imports of oil and natural gas have exacerbated India’s big trade deficit, which is a hurdle to the acceleration of economic growth. Light at the end of the tunnel comes from a technological breakthrough last week by JOGMEC (Japan Oil Gas and Metals National Corporation). It succeeded in extracting natural gas more...
The Diesel Subsidy Hole
Under-recovery on diesel as per the Indian petroleum ministry website was . 10.94 a litre in February 2012 when the procurement price was . 37.80 per litre ($122.06 a barrel). The diesel under-recoveries are expected to exceed . 750 billion at average price of $95.66 a barrel while total annual shortfall due to fuel subsidies more...
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Prashant Singh Elevated As CEO Of ONGC Green
 Oil and Natural Gas Corporation Limited (ONGC) appointed Prashant Singh as the Chief Executive Officer (CEO) of ONGC Green Limited. Prashant Singh brings more than three decades of experience in more...
Mohit Kumar Agrawal Appointed Dy Secretary In Petroleum Ministry
 Mohit Kumar Agrawal, an officer of the Indian Telecommunication Service (ITS), has been appointed as Deputy Secretary in the Ministry of Petroleum and Natural Gas. The appointment is on a central more...
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On April 10, 2021 www.indianoilandgas.com entered the 28th year of service to the Indian and international oil and gas industry. When the hardcopy version with its masthead, Indian Oil & Gas, came out 28 years ago, India’s petroleum industry was almost totally controlled by the government. India was not rated high either as a producer or consumer of crude and petroleum products. Today, India is the world’s third largest importer of crude and second largest importer of LPG and Asia’s largest exporter of petroleum products. Without violating the government norms regarding dissemination of information, www.indianoilandgas.com has been consistently helping the industry with authentic articles and data on all areas of oil and gas industry.
To download this full article in PDF, click here |
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Alliance That Could Break With A Corrupt Past
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Hormuz Becomes A Theatre Of War
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Competitive Pricing Of Oil And Gas luding Indian Consumers
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Why Is US Interested In India’s Energy Sector? Time For Strategic Thinking
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Brookfield’s $ 600 M India-Focused Renewable Energy Platform
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OVL Seeks Operatorship Of Venezuela Oil Blocks
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A Graphic Presentation Of Domestic Natural Gas Scene in June ’26
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Global Natural Gas Price Trends
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India’s City Gas Distribution (CGD) sector is expanding rapidly
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Updated Graphic Presentation of India’s Natural Gas Consumption and Import Dependency
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Dismal Domestic Natural Gas Scene In June 2026
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India’s Rising LNG import, Rusting Capacity Of Many LNG terminals
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Domestic Natural Gas Scene In May 2026
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Sector-Wise Consumption Of Natural Gas In India
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CGD Sector’s Increasing Share In India’s Natural Gas Consumption
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Domestic Natural Gas Scene In May 2026
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A Total Picture of India’s Domestic Natural Gas Scene
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Coal Bed Methane Development in India
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Domestic Natural Gas Scene In April 2026
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A Graphic Presentation Of India’s Domestic production of Natural Gas, Consumption, Import dependency
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Natural Gas Pipeline Operators In India, A Graphic Presentation
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Domestic Natural Gas Scene In FY 2025-26
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Domestic Natural Gas Scene In February 2026
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Indian Crude Basket Price Down In July M-o-M, Up Y-o-Y
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What Pushed Up Crude Processing In FY ’26?
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Distillate yield of PSU refineries in the last two years
more...
What Precisely is The Share of Imported Crude In Processed By Indian refineries?
more...
Import, Export Of Petroleum Products Decline In June 2026
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Barrel Of Crude Processed In FY ‘26: Products Yield and Their Uses
more...
Analysis Of The Type Of Crude Oil Processed By Indian Refineries In June 2026
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World Oil Demand Picture Looks Positive
more...
India’s Crude Oil Imports Continue With The Declining Trend
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Indian Crude Basket Price Down & Up In June 2026
more...
India’s Exploration Round NELP Launched In 1999 Has 32 Parties Still Operating
more...
India’s Overseas Crude Production Up Even As Domestic Production Drops In FY ’26
more...
Petroleum Products Consumption Drops In June 2026
more...
Consumption Growth of Petroleum Products
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India’s Rising LNG import, Rusting Capacity Of Many LNG terminals
more...
Indian Refineries Love High Sulphur Crudes For Processing
more...
Stagnating Domestic Crude Production, Its Shrinking Share In Petroleum Products Consumed
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SCI Tender For LNG Fuelled Container Vessels
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