Energy & Petroleum News Today

Indian bitumen prices softened from August 1 as monsoon conditions and weak demand pressured refinery prices, while imported material remained expensive due to Iran supply restrictions and uncertainty around the Strait of Hormuz. Falling Brent prices may provide relief, but elevated freight, shipping risks and limited Iranian exports continue to support market prices.

Khethworks opened a new office in Sainikpuri to expand portable solar irrigation systems for small and marginal farmers, aiming to reduce dependence on diesel and enhance climate-resilient agriculture.

Behind-the-meter battery storage is growing across Indian industries as LFP cell prices fall over 40%. Businesses use BESS to cut peak demand charges, manage rising electricity costs, and ensure power reliability.

India reached 236.5 GW of renewable capacity by June 2026, driven by solar and wind growth, policy support, and a target of 500 GW of non-fossil capacity by 2030.

Transocean secured a $300m drillship contract with ONGC for the Dhirubhai Deepwater KG2, with the campaign starting in early 2027 following previous idle status.

Petrochemicals account for 16 percent of global oil demand, driving continuous growth in manufacturing materials like plastics and synthetic fibers, especially as industrial demand rises across Asia.

The 18th NADA Auto Show 2026 will feature over 200 stalls spanning 300,000 square feet, highlighting electric vehicles, AI, robotics, and a dedicated Made in Nepal pavilion during its golden jubilee.

State-run Oil India partnered with TotalEnergies for complex offshore exploration under the Samudra Manthan risk-sharing scheme, aiming to boost national energy security through deepwater drilling in high-potential basins.

India's booming rooftop solar market faces critical performance and safety risks due to inadequate system design, poor workmanship, and faulty balance-of-system components, leading to generation losses and equipment damage.

In Q2 2026, India's solar cell imports rose 33.2% while module imports fell 75.5%, reflecting a growing domestic manufacturing base that increases cell demand and reduces finished module reliance.