Energy & Petroleum News Today

GAIL (India) Limited won Midstream Project of the Year at the Asian Oil & Gas Awards 2026 for executing the cross-country Mumbai-Nagpur-Jharsuguda Pipeline Project under the National Gas Grid initiative.

Serentica Renewables won Independent Power Producer of the Year at the 2026 Asian Power Awards, scaling its clean energy portfolio to over 8.7 gigawatts to decarbonise heavy industries in India.

The government revised windfall gains tax effective October 16, increasing it on petrol exports to Rs 2.5 per litre and reducing it on diesel to Rs 8.5 per litre, while keeping aviation turbine fuel unchanged.

US natural gas prices rose to about $3.26 per million British thermal units, nearing a three-week high following a government report showing a smaller-than-expected increase in storage inventories.

Australia and New Zealand are among the fastest-growing EV markets globally following a fossil fuel supply crisis. Globally, electric cars have displaced 200 million barrels of crude oil, saving $29 billion.

In August 2026, Russia, the US, and the UAE supplied over two-thirds of India's 191.2 lakh tonnes of oil imports. Total import bills rose 25% year-on-year to $12.2 billion amid elevated prices.

India's NTPC partners with 247Solar for a 1MW hybrid solar thermal project in Rajasthan, signing a 25-year PPA to deliver round-the-clock clean power and reduce coal reliance.

The Centre has extended zero customs duty on around 40 critical petrochemical products until July 15 to ensure supply stability amid disruptions caused by the conflict in West Asia.

Punjab Chief Minister Bhagwant Singh Mann announced that the Centre has assured uninterrupted coal and power supplies to sustain the state's significant contribution of 180 LMT of rice to the central pool.

Europe's natural gas prices hover near late-2022 highs at 86.03 euros per MWh due to limited Qatari LNG flows and depleted storage at 74% ahead of winter, raising supply shortage risks.