Gurdeep Singh will continue as Chairman and Managing Director of NTPC. His tenure gets a one-year extension. The extension is effective from August 1, 2025, till July 31, 2026. The Appointments Committee of the Cabinet approved the proposal. Earlier, PESB found no suitable candidates for the CMD post. NTPC is India’s largest power producer under…
The govt has announced a reduction in the windfall tax for diesel exports to Rs 23 per litre and for aviation fuel to Rs 33 per litre, starting this Friday. This decision comes after a prior increase intended to protect domestic fuel supplies during global price escalations.
Nayara Energy, an Indian refiner with Russian backing, faced EU sanctions. The company then revised payment terms for a naphtha export tender. It sought advance payment or a letter of credit. Consequently, the tender was skipped. A BP-chartered tanker also left a Nayara port without loading. Nayara has criticized the EU sanctions as unjust.
As the Strait of Hormuz remains under Iranian control amid the ongoing West Asia conflict, Qatar has quietly resumed some LNG exports by adopting tactics more commonly associated with the oil industry’s “shadow fleet.” LNG carriers are increasingly switching off transponders, travelling in pairs, and making “dark transits” through the chokepoint to reduce the risk…
Oil market experts predict Brent crude oil prices will likely surge to USD 80 per barrel due to escalating US-Russia tensions threatening global oil supplies. Potential sanctions and tariffs on countries trading with Russia, initiated by the US, could further inflate prices. Disruptions in Russian oil flow could push prices even higher, potentially reaching USD…
A gas pipeline at ONGC’s Mori-5 well in Andhra Pradesh’s Dr B R Ambedkar Konaseema district caught fire on Monday following a leakage. Operated by Deep Industries Ltd, the well experienced the blaze during production enhancement operations. Fortunately, no casualties were reported. Senior ONGC officials and district administration are on-site to assess the situation and…
Iran faces a critical shortage of oil storage. Unused capacity is dwindling, potentially leading to significant production cuts. A US-led blockade is severely impacting exports through the Strait of Hormuz. This situation is contributing to a global oil price rally. Neighboring countries are also cutting output. The full revenue impact for Iran may be delayed.
India is closely monitoring a proposed US legislation that could impose hefty tariffs on nations buying Russian crude oil. New Delhi stated its energy sourcing is guided by global market dynamics and the need to secure affordable energy for its population from diverse sources. The country, along with China, is a significant buyer of Russian…
Last week, the Indian Parliament abolished the decades-old state monopoly in the nuclear power generation sector and made sweeping changes to the country’s liability provisions that had spooked investors. The move is expected to attract about $214 billion in investments, with proposals from the Adani Group under consideration, Bloomberg News reported last week.
India has extended the bid submission deadline for its latest oil and gas block auction. Potential investors now have until February 18, 2026, to submit their bids. This is the third extension for the OALP-X licensing round. The government aims to boost domestic oil and gas production with this significant acreage offering.