Energy & Petroleum News Today

India and Canada agreed to fast-track CEPA talks by year-end, targeting Rs 4.65 lakh crore bilateral trade by 2030. They also launched security cooperation talks and reviewed energy deals, including a $2 billion uranium procurement.

The Northeast is transforming with over ₹5 lakh crore investment, driving economic integration and peace. A new India-Assam-Nagaland MoU targets a ten-fold increase in hydrocarbon production from 500 million tonnes, boosting energy security and regional growth.

India faces continued LPG uncertainty despite a ceasefire and falling crude oil prices. Damage to Gulf production sites keeps prices elevated; domestic cylinders are Rs 942, up Rs 89. India diversified imports, with the US now supplying 55%.

India aims to be a global EV electronics hub, with its market projected to reach $110.7B by 2029. Policy support like PLI (Rs 1.75L Cr investments) and semiconductor initiatives are driving growth, attracting $40B global capital, despite import dependencies.

Falling oil prices and the U.S.-Iran deal are set to narrow India's trade deficit, which was $28.21 billion in May. This will ease pressure on the economy, reducing the crude import bill of $22.7 billion last month.

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.

Prez, PM to lay foundation for ₹25,000cr coal gasification project and inaugurate ₹732cr railway multi-tracking projects on June 20 in Odisha, marking two years of BJP govt. India's first commercial-scale coal-to-ammonium nitrate facility.

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.

A Rs 9,585 crore NCR scheme will scrap 2.07 lakh old trucks and buses over two years, replacing them with BS-VI or electric vehicles. Incentives include tax waivers, interest subvention, and discounts to curb pollution.

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.