Petroleum and Natural Gas Regulatory Board directs Delhi gas retailers to implement uniform pricing for piped natural gas. This eliminates tiered pricing based on consumption. The move prevents potential misuse of subsidized gas intended for households. It also addresses concerns about unfair charges for higher consumption. The regulator wants a review of consumption patterns. They…
European Union sanctions against Nayara Energy and restrictions on Russian oil-derived fuels present significant challenges for Reliance Industries, potentially impacting their access to the European diesel market. Rosneft’s planned divestment of its stake in Nayara is further complicated. Both companies, key Indian fuel exporters, face reduced refining margins due to these constraints.
India’s Ministry of External Affairs on Friday said it does not support unilateral sanctions, responding to the EU’s latest penalties on Russia that include a Rosneft-linked oil refinery in Gujarat. “Energy security is a paramount responsibility to meet citizens’ basic needs,” MEA spokesperson Randhir Jaiswal stated in a post on X.
Reliance Industries reported strong growth in its Oil-to-Chemicals (O2C) business in Q1 FY26, with EBITDA rising 10.8% year-on-year, driven by improved domestic fuel retail margins, a recovery in transportation fuel cracks, and better petrochemical spreads. However, O2C revenue declined 1.5% due to lower crude prices and reduced volumes amid a planned shutdown.