Sector Oil and Gas - Latest news, views and updates

The latest emission norms (CPCB IV+)-compliant co-branded product will be jointly marketed across India and exported globally, Cooper Corporation said

Oil and Gas

SECTOR | 03 Jul 2025

Oil & Gas Apr-Jun'25 Earnings Preview Honeymoon continues...

Oil and Gas

Prabhudas Lilladhar

Oil prices decline, LPG under-recovery improves: A slew of concerns over trade tariffs and global GDP combined with increased supply of 1.2mnbopd resulted in Brent diving to below USD60/bbl for a while and then picking up subsequently to average USD68/bbl during the quarter, a decline from USD75.7/bbl in Q4FY25. Decline in oil prices would result in falling realizations of ~8% QoQ for ONGC and Oil India. Decline in oil prices would aid gross marketing margins on petrol and diesel sequentially from Rs10.4/6.4/lit to Rs12/10/lit respectively. Decline in benchmark LPG prices would also reduce...

Oil and Gas

SECTOR | 02 Jul 2025

Palm oil futures rise on better demand, likely lower June production

Business Standard

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange gained 66 ringgit, or 1.66%, to 4,034 ringgit a metric ton by the midday break

India's June palm oil imports jump 61% to hit 11-month high

Business Line | 02 Jul 2025

Oil and Gas

SECTOR | 02 Jul 2025

Oil-drilling ship capsized in Gulf of Suez, killing at least 4, says Egypt

Business Standard

An oil-drilling ship capsized in the Gulf of Suez, killing at least four crewmen and leaving four others missing, authorities said Wednesday. The drilling ship overturned Tuesday evening off the city of Ras Ghareb, on the African side of the Gulf of Suez, the Red Sea's northwestern arm and a crucial shipping route, the Petroleum Ministry said in a statement. There were 30 workers on board when the drilling ship capsized, said Amr Hanafy, governor of the Red Sea province. Rescue teams recovered four bodies and rescued two 22 others who were taken to hospitals, he said. He said ships from the Egyptian navy joined the search-and-rescue efforts which were still ongoing overnight for four missing crewmen. It wasn't immediately clear what caused the drilling ship to capsize and authorities say investigations were ongoing. Local media reported it was being tugged for excavations in another area when it overturned. The capsizing happened in an area called Gabel el-Zeit, a prominent Egypt

Oil and Gas

SECTOR | 02 Jul 2025

Workers protest at IOCL's Bengal bottling plant over wage-related dispute

Business Standard

A wage-related dispute between LPG transporters and their drivers at Indian Oil Corporation Ltd's bottling plant at Budge Budge in West Bengal's South 24 Parganas district escalated into a protest. The agitation, which occurred on Tuesday night, temporarily disrupted production and triggered sharp political reactions. Senior BJP leader Suvendu Adhikari, who is also the leader of the opposition in the state assembly, in a post on X, alleged that the incident reflected the growing lawlessness and "syndicate culture" under the Trinamool Congress (TMC) regime. He also shared two videos showing protesters releasing LPG from cylinders, triggering panic in the area. PTI could not independently verify the authenticity of the videos. "Yesterday's protest, where enraged workers released gas from cylinders onto the streets, could have turned catastrophic. A single spark could have ignited a massive fire, potentially engulfing the entire bottling plant, the nearby Budge Budge Institute of...

Oil and Gas

SECTOR | 01 Jul 2025

OMCs To Receive LPG Compensation: Hardeep Singh Puri

NDTV Profit

The fresh statement from Puri signals a possible resolution ahead of the new Parliament session and can improve the balance sheets of these oil retailers.

Commercial 19-kg LPG cylinder price slashed, no change in domestic cylinder rates

Business Line | 01 Jul 2025 2 more

Oil and Gas

SECTOR | 01 Jul 2025

Shell acquires Raj Petro Specialities to strengthen lubricant portfolio

Business Standard

Shell Lubricants completed the acquisition of Raj Petro Specialities, strengthening its lubricants portfolio and customer base, the company said on Tuesday. Without disclosing financial details of the transaction, Shell said it has acquired 100 per cent equity interest in Raj Petro Specialities Pvt Ltd from the Brenntag Group. "The acquisition of Raj Petro Specialities supports Shell Lubricants as it strives to grow its portfolio and customer base in India, which is one of its key growth markets," it said in a statement. Raj Petro, which has manufacturing facilities at Chennai and Silvassa, offers a wide range of products - from transformer oil to petroleum jellies, white oils, waxes and lubricants. The more than 80-year-old Mumbai-headquartered firm was in 2017-18 acquired by Germany's Brenntag. "The transaction strengthens Shell Lubricants' presence in the market by supplying customers in the power transmission, personal care and pharmaceutical sectors, as well as helping to real

Oil and Gas

SECTOR | 28 Jun 2025

Inside The Trading Desks That Surfed 12 Days Of Oil Market Mayhem

NDTV Profit

Traders on some desks in Geneva and London worked in shifts to ensure 24-hour coverage though in reality many stayed awake anyway.