Energy & Petroleum News Today

Base oil prices in India remained mixed as Group I and Group II markets stayed under pressure from ample supply, while Group III prices strengthened due to tight global availability. Brent crude traded around $96.27/bbl, and shipping disruptions through the Strait of Hormuz continued to impact import availability and freight costs.

India launched its first indigenous hydrogen fuel cell train on the Sonipat-Jind route, featuring 2 power cars, 8 coaches, and a 3,200 horsepower capacity to drive clean energy innovation.

Mongolia's heavy economic dependence on China, which buys 94% of its mineral exports, limits its foreign-policy sovereignty despite new transport and financial agreements.

The PM E-DRIVE scheme supported over 26.5 lakh EV sales and allocated Rs 10,900 crore to boost indigenous manufacturing and charging infrastructure across India by March 2028.

India Ratings affirmed the 'A' rating on JSW Energy's 300 MW Gujarat solar project loans, driven by a 25-year PPA, advanced construction status, and strong sponsor support.

Chennai's proposal to induct 20 air-conditioned electric double-decker buses under a 12-year Gross Cost Contract has entered technical evaluation, featuring two bidding firms.

India's EV retail volumes reached 24.52 lakh units in FY26, prompting insurers to develop specialized covers for batteries, charging infrastructure, and commercial fleets amidst evolving mobility risks.

INOX Solar leverages vertical integration, hybrid renewable solutions, and cell manufacturing to navigate India's expanding market, aiming to become a leading integrated renewable energy company within five years.

Hyundai Motor India introduces a 60% assured buyback program for the Creta Electric after three years or 45,000 km, aiming to reduce ownership uncertainty and boost EV adoption.

Hindustan Petroleum Corp bought two million barrels of Nigerian crude via tender for its Rajasthan refinery from trader Glencore, continuing its diversified sourcing strategy as operations ramp up.