Energy & Petroleum News Today

Despite a projected $495 billion cash windfall from higher Brent oil prices, the global upstream oil and gas sector remains capital-cautious, avoiding a major spending surge.

PNGRB plans to allow third-party capital investment in city gas distribution areas with expired exclusivity, aiming to boost competition, infrastructure sharing, and natural gas adoption this financial year.

To offset poor monsoon hydro shortfalls, Karnataka Power Corporation has increased daily coal procurement, boosting thermal power generation across plants in Raichur, Yermarus, and Ballari with enhanced logistics support.

A parliamentary committee urged modernizing aging coal washeries to reduce high ash content, boost domestic coking coal production, and curb import reliance. Coal India produced only 3.59 MT against 18.35 MT capacity.

OPEC+ plans to complete its 188,000 bpd output increase in September 2026 before pausing further hikes, stabilizing crude and naphtha prices around $840-845/t to support petrochemical feedstock costs.

YEIDA is appointing a consultant to prepare an Electrical Master Plan 2041, forecasting long-term power demand, integrating renewable energy, and building resilient infrastructure to support rapid industrial and urban growth.

Gurugram is upgrading its public transport by replacing 25 ageing CNG buses with BS-VI vehicles, introducing electric buses, and enabling UPI digital fare payments to enhance commuter reliability and sustainability.

In FY26, India restricted 6,900 GWh of renewable power evacuation due to transmission mismatches. Meanwhile, financial institutions deployed over Rs 5.08 lakh crore into the renewable sector over two years.

Indian bitumen prices remain firm as geopolitical tensions in the Middle East continue to disrupt supply chains. Iran's bitumen exports have nearly stopped due to the closure of the Hormuz Strait, while rising crude oil prices are supporting market sentiment. Buyers remain cautious as supply uncertainty keeps prices elevated across India.

India's washed coal prices rose to INR 6,750/t in Raipur on supply constraints, tight ROM coal availability, and higher production costs. Prices are expected to remain firm near term.