Japan’s top power generator JERA has signed its first long-term LNG export deal with India’s Torrent Power, supplying four cargoes annually for 10 years starting 2027. The LNG will fuel Torrent Power’s 2,730 MW power plants and be sold to households, small industries, and the transport sector.
Fuel prices are rising again, making travel and goods more expensive. This impacts transporters, supply chains, and household budgets. Oil Marketing Companies are seeing stock rallies. The government faces a challenge balancing OMCs’ financial health with consumer impact. Global events continue to influence fuel costs.
Reliance Industries achieved significant overseas financing milestones in FY26, securing the largest Samurai loan by an Indian company. Chairman Mukesh Ambani voluntarily continued to forgo his salary for the sixth year. The company posted record profits, demonstrating strong financial performance and robust growth.
Petrol, Diesel price hike Today: Fuel prices have seen another hike. Petrol and diesel rates have gone up, marking the fourth increase in under two weeks. This rise reflects global crude oil price surges and ongoing geopolitical tensions. Oil companies have been facing significant daily losses. India has largely shielded consumers from the full impact…
Nine bidders, including Adani Power and JSW Energy, have submitted formal offers ranging from Rs 3,000 crore to Rs 4,000 crore for GVK Energy’s operational 330 MW Alaknanda hydro power plant. The plant, with a PPA until 2045, has significant debt, with unsecured creditors holding the majority of claims.
The United States is intensifying sanctions on Iran’s oil industry, targeting over two dozen individuals, companies, and ships linked to petroleum magnate Mohammad Hossein Shamkhani. This action aims to curb Iran’s revenue generation as it continues to blockade the Strait of Hormuz amid the ongoing Middle East war.
India is turning a new leaf in energy efficiency by rolling out E85 fuel, an environmentally friendly ethanol blend consisting of 85% ethanol, with a significant discount of Rs 20 per litre. This initiative is designed to not just lower fuel prices, but also to lessen India’s dependence on imported fuels.
India’s government is considering a change to its LPG subsidy formula following state-run oil companies’ first annual supply contracts with US exporters. Companies are advocating for the inclusion of US benchmark prices and higher transatlantic freight costs in the subsidy calculation to better reflect the economics of these imports.
Commercial LPG cylinder prices surged by Rs 993 on May 1, 2026, reaching Rs 3,071.50 in Delhi, driven by the US-Iran-Israel conflict and Strait of Hormuz disruptions. Domestic cylinder prices remain unchanged. The price of 14.2 kg LPG domestic cylinder in Delhi costs Rs 913.
In a dramatic turn of events, the United Arab Emirates has officially exited OPEC, signaling a significant transformation within the global energy landscape. This bold step is set to alter oil production dynamics and reshape international relationships, ushering in new energy frameworks.