Energy & Petroleum News Today

Bitumen prices in India remained firm during June 2026 as supply concerns linked to the Strait of Hormuz disruptions and rising logistics costs supported market sentiment. Government interventions, contractor compensation measures, and continued infrastructure activity are keeping demand resilient despite procurement challenges and elevated bitumen prices across major regions.

Oman's refining sector saw mixed results in early 2026. Jet fuel output surged 10.9% to 8.86M barrels, driven by aviation. Naphtha and some petrochemicals also grew. However, gasoline, diesel, and LPG production declined, indicating shifting market dynamics.

Reliance BP Mobility revamped its Relstar lubricant brand with a new identity and packaging, covering over 140 variants across 13 segments. The refresh, "Driven by More," aims to strengthen market positioning and consumer connection in India.

Chennai's Raju Street has over 400 metres of milled road unfinished for weeks, posing safety risks. Bitumen price fluctuations caused delays, but completion is now expected shortly, addressing commuter concerns.

Australian miners target India/SE Asia for growth, offsetting China's decline. India plans 400M tonnes steel by 2035-36; BHP expects India's met coal demand to double by 2050, requiring vast imports.

Ministry of Petroleum and Natural Gas denies reports of a proposed Middle East-India Deepwater Pipeline (MEIDP) connecting Gujarat to Oman and other Gulf nations, stating no such project is under consideration or active discussion.

The Iran war exposed Southeast Asia's energy risks, potentially tripling import bills to $245 billion by 2035. This "wake-up call" spurs diversification into renewables, EVs, and nuclear power, but sweeping reforms are crucial.

India's 500 GW renewable energy push by 2070, while ambitious, risks exacerbating rural inequalities. Land acquisition for projects impacts farmers and communities, raising concerns about fair compensation and participation.

Four new plug-in hybrids are set to launch in India soon, including Mercedes-Benz S-Class, Jetour Traveller C-DM, MG 520, and BYD Seal U, offering electric ranges up to 162 km with battery packs up to 43.24 kWh.

Vietnam faces power challenges: record demand (58,000 MW peak) due to heat waves. Cheap solar by day, but expensive oil/LNG-fired plants cover evening shortfalls, with 138.9 billion kWh consumed in 5 months.