All content tagged with “Oil and Gas - Downstream” - 50 items
India incurred an estimated $22.5 billion in additional fossil fuel import costs between March and August 2026 amid the West Asia conflict, with the global impact exceeding $330 billion, according to the analysis.
As industries accelerate efforts to reduce emissions while remaining globally competitive, the focus is shifting from isolated pilot projects to scalable decarbonisation platforms. In an interview with ENERGDIVE, Dr Partha P Maitra, President – Strategy & Initiatives at Reliance Industries Ltd, shares his perspective on the commercial viability of decarbonisation technologies, the importance of carbon pricing, technology integration, and the policy measures needed to drive India's low-carbon industrial transition.
The Strait of Hormuz has seen a sharp decline in vessel traffic following the escalation of the West Asia conflict, disrupting the movement of oil, LNG and other commodities. The waterway previously handled nearly 20% of global oil and LNG exports, making the prolonged disruption a major concern for global energy security.
A key Iranian parliamentary committee has reportedly approved proposed transit fees for vessels passing through the Strait of Hormuz, along with restrictions on certain ships and countries.
The PESB panel has recommended Chacko Mazhuvanchery Jose for the post of Director (Refineries) at BPCL. He currently serves as Executive Director at Kochi Refinery and has over three decades of experience in petroleum refining.
India and Mauritius have strengthened energy cooperation through agreements covering petroleum product supplies and a five-year commitment for Mauritius’ fuel imports.
The United States has established a maritime shipping corridor across the Strait of Hormuz to facilitate crude oil shipments amid the ongoing conflict with Iran. The corridor is supporting nightly movement of 15 to 20 tankers, with oil exports from the Gulf reaching nearly 10 million barrels per day.
The Ministry of Petroleum and Natural Gas has approved an incentive scheme to accelerate domestic PNG connections by providing eligible CGD entities additional APM gas for incremental billed connections.
Brent crude futures rose 0.85% to $91.79 a barrel, while WTI climbed 1% to $85.79 amid uncertainty over vessel movement through the Strait of Hormuz and ongoing supply disruptions.
Iran and Oman have reached an understanding on a vessel transit route through the Strait of Hormuz, with details of a joint statement still being finalised.
Indian Oil Corporation has appointed Dr Alka Mundra as an Independent Director on its Board with effect from August 15, 2026.
GAIL has appointed Dr Banwari Lal and Rupa Saikia as Non-Official Independent Directors for three years, effective August 12, 2026, following approval from the Ministry of Petroleum and Natural Gas.
The Ministry of External Affairs said India remains focused on diversified energy sourcing to safeguard national priorities amid supply chain disruptions caused by the ongoing West Asia conflict.
Shipping traffic through the Strait of Hormuz fell to six vessels on Monday, below the 10-day average of roughly 11, amid renewed uncertainty over a potential US-Iran peace deal.
The government has said nationwide testing across the E20 petrol supply chain found fuel quality to be within prescribed limits, dismissing concerns over moisture and chloride contamination.
Brent and WTI crude prices rose after Iran said reopening Strait of Hormuz depends on the US meeting additional conditions, despite progress in talks with Oman on new shipping arrangements.
Global oil prices rose on Friday, with Brent crude climbing above $83 per barrel, as renewed tensions in West Asia reignited concerns over potential disruptions to global energy supplies through the Strait of Hormuz.
Iran and Oman have reached a provisional understanding on a new shipping route through the Strait of Hormuz, with a joint statement expected once final details are settled, although Tehran cautioned that the agreement would not immediately ensure safe navigation.
Vessel movement through the Strait of Hormuz declined to 15 crossings on August 3 from 19 a day earlier, while traffic through the Bab el-Mandeb Strait dropped to a two-month low amid renewed maritime security concerns, according to an S&P Global report.
Shipping activity through the Strait of Hormuz and Bab el-Mandeb Strait rebounded on July 29, while increasing dark vessel activity and a buildup of VLCCs at Egypt's Sidi Kerir highlighted continued security and logistical challenges.
India has urged an immediate de-escalation of hostilities in the Strait of Hormuz at the UN Security Council, calling for unrestricted maritime trade and safe navigation while highlighting the region's importance to the country's energy security and trade.
Oman has proposed a joint management framework with Iran for the Strait of Hormuz, including a transit fee mechanism, as diplomatic efforts continue following a pause in US-Iran hostilities.
IOCL and MRPL. have suspended crude oil loadings from Iraq as security risks in the Strait of Hormuz continue to disrupt regional oil shipments.
Goldman Sachs has warned Brent crude could rise to $120 a barrel by the fourth quarter if disruptions in the Strait of Hormuz continue, while maintaining its base-case forecast of $80 amid expectations of easing regional tensions
Brent crude has surged above $90 per barrel for the first time since June 2026 as escalating US-Iran hostilities and disruptions in the Strait of Hormuz fuel concerns over global oil supply and shipping.
India's downstream sector is pursuing Net Zero through multiple technologies while safeguarding energy security, affordability and competitiveness.
The International Energy Agency has warned that global energy security remains under severe threat unless diplomatic efforts between the United States and Iran restore oil flows through the Strait of Hormuz, as regional tensions continue to escalate.
Oil prices climbed for a fourth straight session as renewed US-Iran hostilities and disruptions in the Strait of Hormuz heightened concerns over global crude supplies.
The US has launched military strikes on Iranian facilities near the Strait of Hormuz, with President Donald Trump claiming control of the strategic waterway, raising concerns over global energy trade and India's oil imports.
Oil prices climbed 4% after fresh US-Iran military strikes reignited concerns over energy shipments through the Strait of Hormuz, with vessel traffic dropping to a five-week low.
State-run oil companies are set to introduce 10 kg lightweight composite LPG cylinders, offering a more portable fuel option for households and small commercial users.
MRPL has resumed crude imports through the Strait of Hormuz, supporting supply stability for Indian refiners as shipping normalises along the key energy trade route.
External Affairs Minister Dr S Jaishankar concluded his official visit to Qatar, where both sides reviewed bilateral cooperation across energy security, trade, investments, connectivity, security, and people-to-people ties.
Iran plans service fees for ships transiting the Strait of Hormuz, but India could receive concessions or exemptions under a proposed framework for friendly nations.
India and Japan have signed a strategic energy cooperation agreement to enhance petroleum reserve ecosystems, maritime energy transport, and emergency response coordination while deepening collaboration under the India-Japan Energy Dialogue.
Citigroup expects Brent crude prices to decline to $60 per barrel by the end of the year as shipping through the Strait of Hormuz normalises, easing supply chain disruptions and improving stability in global energy markets.
An oil tanker damaged by gunfire near the Strait of Hormuz safely reached Paradip Port, highlighting continued risks to global energy shipping routes.
Nayara Energy has reduced petrol by ₹5/litre and diesel by ₹3/litre across 7,000+ fuel stations, reversing its March hike as easing West Asia tensions softened global crude oil prices.
Oil marketing companies have reduced the price of 19 kg commercial LPG cylinders by ₹183.50, marking the first cut this year as easing global energy markets lower fuel costs.
The Ministry of Petroleum and Natural Gas has withdrawn the temporary restrictions on the sale and distribution of petrol and diesel through public sector oil marketing company retail outlets, effective July 1, 2026. The move follows an improvement in the country's fuel supply situation after measures introduced to prevent hoarding and ensure fuel availability during the West Asia crisis.
Engineers India Limited (EIL) has appointed Atul Gupta as its Chairman and Managing Director following approval from the Ministry of Petroleum and Natural Gas. Gupta, who previously served as Director (Commercial), brings nearly three decades of experience across refineries, petrochemicals, pipelines, fertilisers, and EPC projects.
Oil prices edged higher after renewed US-Iran strikes slowed energy shipments through the Strait of Hormuz, raising concerns over global crude supply. However, gains remained limited following reports that both countries have agreed to resume talks in Qatar.
The Centre has lifted restrictions on non-domestic packed LPG and partially restored bulk LPG supplies as improving global supply conditions ease disruptions caused by the West Asia crisis.
US President Donald Trump has ordered an investigation into fuel pricing practices, accusing oil companies of failing to pass on lower crude oil costs to consumers.
Hindustan Petroleum Corporation Ltd (HPCL) has appointed Srividya Venkataraman as Director (Finance), bringing three decades of experience in financial strategy, treasury management and corporate planning
Nayara Energy has expanded its retail network to more than 7,000 fuel stations across India, strengthening its presence in non-metro markets, highways and underserved regions.
Iran has retained the capability to disrupt shipping through the Strait of Hormuz despite the recent peace agreement with the US.
US President Donald Trump said shipping operations have resumed through the Strait of Hormuz and the vital energy corridor is expected to be fully reopened by Friday.
The US and Iran have reached an agreement to end months of tensions, leading to the reopening of the Strait of Hormuz.
External Affairs Minister S Jaishankar has defended India's purchases of Russian crude oil, saying the decision was driven by market conditions and energy security considerations rather than geopolitical alignment.