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The Latest Breaking News from Petroleum

India seeks safe Hormuz passage for nine ships as truce falters

In a strategic move, India is engaging Iran in talks to guarantee the safety of nine tankers loaded with crude oil and liquefied petroleum gas. With vigilant oversight from the government on these vessels, officials will confer with Iranian counterparts to discuss the precarious state of maritime security due to…

The Economic Times

How Russian fuel shortages are changing the nation’s vehicles

Russians are increasingly converting their vehicles to run on liquefied petroleum gas (LPG) following nationwide fuel shortages and escalating petrol prices, which have been exacerbated by Ukrainian attacks on refineries. Companies specialising in LPG conversions, such as Garant-Gas and Medvedev GBO in Moscow, are experiencing unprecedented demand, with waiting lists…

The Independent UK

Exxon Mobil, Battalion Oil, Occidental Petroleum Are Trending After Hours as Hormuz Strait Disruption Reignites: XOM, BATL, OXY Spike

Renewed tension in the Middle East sends the oil stocks trending.

Benzinga

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Fuel on the fire: why oil companies are profiting as the world gets dangerously hot

The scientific consensus is that burning fossil fuels drives the climate crisis, yet the world’s biggest oil companies are planning to increase production

The Guardian - UK

India's fuel consumption drops 3.7% in June from previous month

India's fuel consumption fell approximately 3.7% in June from the previous month. Liquefied petroleum gas consumption saw a significant year-on-year decrease of over fourteen percent. Gasoline sales were down month-on-month but showed annual growth, while diesel consumption rose annually. Naphtha sales experienced a substantial year-on-year drop, and fuel oil usage…

The Economic Times

Govt denies reports of Bhutan rejecting India's E20 fuel

India's Petroleum Ministry has debunked claims that Bhutan rejected E20 petrol imports, stating no such offer was ever made. The ministry emphasized that reports suggesting otherwise are inaccurate and urged reliance on official sources. This clarification follows allegations by Congress regarding several neighboring countries refusing India's fuel. The government also…

The Economic Times

Trump Administration Ramps Up Pressure on Oil Industry As Federal Agencies Push States to Investigate Elevated Gas Prices

On Friday, the Donald Trump administration intensified its scrutiny of the petroleum industry by urging state officials to investigate whether oil companies or fuel retailers are unlawfully keeping gasoline prices elevated despite falling crude oil costs.

Benzinga

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E20 causes ‘minor’ drop in vehicle mileage, Puri says, as India gears up for E100 fuel

The Petroleum Minister acknowledged a minor drop in fuel efficiency with E20 petrol but highlighted improved acceleration and engine performance as key benefits. Despite consumer concerns about mileage and older vehicles, the government is pushing ahead with ethanol blending. India is also exploring higher blends like E25 and E85.

The Economic Times

Why petrol and diesel prices haven't fallen yet? Hardeep Singh Puri hints at rate cut after sustained low crude prices

Fuel prices might see a dip if international crude oil rates stay low for a few more weeks, according to Union Minister Hardeep Puri. Oil companies are currently using crude purchased at higher prices during the West Asia conflict, leading to past losses. However, sustained low global prices could pave…

The Economic Times

Industrial output outlook hinges on monsoon progress; coal stocks, exports may cushion weather risks: Report

Adverse weather could impact mining, but higher coal stocks and improved petroleum exports are expected to cushion the blow, supporting manufacturing and electricity generation.

The Economic Times

SC directs status quo on Karnataka HC order on ethanol allocation; Centre says 20% blending still an experiment

The Supreme Court has put a hold on a Karnataka High Court order that sought to increase ethanol allocation for 2025-26. An oil company argued this could disrupt the national policy for 20% ethanol blending in petrol. The top court issued a notice, questioning if enhancing one supplier's quota would…

The Economic Times

Strait of Hormuz: Strategic chokepoint in shadow of geopolitics

The Strait of Hormuz, a key chokepoint for the global trade of crude oil and liquefied natural gas, is at the centre of disputes in negotiations to end the Middle East war, even after the US and Iran signed a preliminary deal. About one-fifth of consumption of global oil and…

The Economic Times

BPCL to buy 40% stake in Tiki Tar and Shell India for Rs 85 crore

Bharat Petroleum Corporation is set to acquire a 40% stake in Tiki Tar and Shell India for Rs 85 crore, bolstering its presence in India's expanding value-added bitumen market. This strategic move, approved by DIPAM, aims to capitalize on the nation's infrastructure growth. Tiki Tar and Shell India, a manufacturer…

The Economic Times

From floods to war, state-run oil firms prove indispensable despite repeated privatisation bids

India's state-run oil companies have proven indispensable during national crises, from floods and pandemics to global conflicts. Despite past privatization attempts, these public sector firms consistently ensure fuel availability, absorb price shocks, and maintain supplies nationwide. Their strategic role in energy security, especially given India's import dependence, highlights their critical…

The Economic Times

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The Economic Times

Pakistan hikes petroleum levy on petrol, diesel; keeps retail prices unchanged

Pakistan's government has increased the petroleum levy on petrol and diesel, keeping retail prices steady despite falling international oil rates. Consumers will continue paying the same for petrol and diesel, while kerosene prices have been reduced. This move boosts government revenue as global oil prices hit pre-war lows following a…

The Economic Times

Petroleum vulnerability rising, India must build crude buffers and cut import dependence, EY cautions

India faces mounting vulnerability due to its soaring dependence on imported crude oil, now exceeding 90%. A recent EY report urges augmenting strategic reserves, currently sufficient for only five days of consumption and developing a comprehensive purchase and release strategy.

The National (Scotland)

Scottish-based oil firm’s contested Gaza gas project hits new obstacle

AN energy consortium led by a Scottish-based oil firm looking to help Israel extract gas in waters claimed by Palestine is at risk after a major…

MarketBeat

Marathon Petroleum Is Back, But Cycles Still Matter

Marathon Petroleum stock has rebounded on stronger refining margins and cash flow, but investors should weigh energy market cycles before buying shares.

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AAP

Mexico's president seeks to restart oil shipments to Cuba as island's crises deepen

Mexican President Claudia Sheinbaum says her country seeks to restart oil shipments to Cuba soon, a move that could provide much needed relief as the island's crises deepen given a lack of petroleum

The Economic Times

Chennai Petroleum Corporation gets Navratna status, becomes 28th such CPSE

Chennai Petroleum Corporation Ltd (CPCL) has achieved Navratna status, a significant upgrade granting it greater financial and operational autonomy. This elevation, approved by the Union Finance Minister, makes CPCL the 28th such enterprise in India. The company, a subsidiary of IndianOil, boasts a substantial refining capacity and a diverse product…

The Economic Times

HPCL's Rajasthan refinery restarts key crude unit after April fire

Hindustan Petroleum Corp Ltd's joint venture refinery in Rajasthan has restarted its crude distillation unit after a fire in April. This restart allows for a phased ramp-up of fuel production. Key products like diesel, LPG, and petcoke are already being produced. Petrol production is expected next week. The refinery is…

The Economic Times

Does E20 petrol attract ants due to sugar residue? Here's what you need to know

India mandates E20 petrol from April 1, 2026. Viral claims suggest E20 attracts ants due to sugar. Bharat Petroleum Corporation Limited (BPCL) refutes this, calling it baseless. Fuel-grade ethanol undergoes purification, removing sugars. Denaturants in ethanol repel insects. BPCL confirms E20 petrol does not attract ants or insects around fuel…

The Economic Times

US emergency oil stockpile plunges to lowest level since Reagan era amid West Asia war

America's emergency oil reserve has fallen to its lowest point since 1983. This significant drop follows extensive releases to manage economic impacts from global conflicts. Officials express concern about operational capacity and vulnerability to weather disruptions. The reserve's current low level raises alarms for future energy security.

International Business Times UK

Oil Bosses Warn US Reserves Are Hitting 'Tank Bottom' as the White House Calls the Claim False

Oil executives warn the Trump administration of rapidly depleting fuel reserves due to the Strait of Hormuz disruption, but the White House dismisses these concerns despite supporting federal data.

Bangkok Post

SPRC sets out plan to become fully integrated energy provider

Star Petroleum Refining Plc (SPRC) has entered 2026 with a bold new vision: to transform itself from a standalone refinery into a fully integrated energy provider.

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