Energy & Petroleum News Today

Physical Brent crude hit a five-month low against futures amid a European crude glut, driven by surplus barrels, high freight costs, and reduced export opportunities to Asia.

India's ONGC Videsh plans to boost its oil production in Colombia from 22,000 to over 30,000 barrels daily by mid-2027, backed by increased investments and successful drilling results in the CPO-5 block.

Kerala's power purchase deal row deepens over cabinet processes and tariff exposures. Officials evaluated options from GNA Energy at Rs 8.63 per unit and Himachal Pradesh, though no formal agreement was signed.

In 2025, India and Indonesia expanded fossil capacity by 15 GW, driven mostly by coal. Meanwhile, emerging markets saw renewable additions reach 159 GW, boosting low-carbon sources to 45% of total capacity.

Energy associations have raised concerns regarding ANEEL's proposed Fixed-Time Tariff, warning that automatic inclusion of solar generation systems could threaten investments, legal certainty, and energy storage adoption.

India's Centre mandates electric vehicles as the default choice for government staff-car procurement, raising the Net Dealer Price ceiling to Rs 20 lakh, which boosted auto stocks.

A Super El Niño is disrupting global energy markets, causing India's coal-fired generation to surge 25.7% in October due to a 26% drop in hydropower, while reducing coal demand in wetter regions.

Karnataka Power Corporation Limited has invited consultancy bids to develop floating solar parks with a combined capacity of 1,500 MW across reservoir backwaters, marking a major push into renewable energy.

The Finance Ministry mandated electric vehicles as the default choice for government staff cars with a Rs 20 lakh price cap, while setting higher procurement limits for domestic electronic devices.

Turkmenistan's $10 billion TAPI gas pipeline has reached Herat, aiming for 2026 commissioning, revived by regional energy crises and renewed interest from Pakistan despite ongoing geopolitical and financial hurdles.