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The Latest Breaking News from Petroleum

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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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 Economic Times

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…

The National (Scotland)

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.

MarketBeat

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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

AAP

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.

The Economic Times

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.

International Business Times UK

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.

Bangkok Post

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The Economic Times

CIC pulls up PNGRB over RTI reply on safety, inspections of IGL pipeline work

The Central Information Commission has criticized the Petroleum and Natural Gas Regulatory Board. This is for not properly answering a Right to Information request. The request sought details on safety measures for gas pipeline work by Indraprastha Gas Limited. The Commission ordered the regulator to provide a better response.

The Economic Times

Govt focusing on 'automation' of explosives units for safer operations: Official

The Department of Promotion of Industry and Internal Trade is prioritizing automation in explosives manufacturing. This move aims to significantly improve safety and prevent tragic accidents. The department is also strengthening regulatory reforms and increasing the capacity of the Petroleum and Explosives Safety Organisation.

The Economic Times

Govt restricts bulk industrial petrol, diesel purchases through petrol pumps

Industrial and commercial users can no longer buy petrol and diesel from petrol pumps. They must now get fuel from bulk sale points. This change follows a surge in demand for diesel. The government aims to ensure fair distribution for all consumers. Restrictions are in place for up to 90…

Bangkok Post

Refiners adjust sourcing as war rattles markets

Thailand's major oil refineries continue to operate smoothly and supply the nation with refined oil despite escalating conflict in the Middle East, according to the Federation of Thai Industries' Petroleum Refining Industry Club.

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Euronews

US slaps sanctions on Cuba's oil and gas company, accusing it of weaponising energy

Cuba is already struggling under a decades-old embargo and a lack of petroleum as the US keeps pushing for a change in its economic and political model.

The Independent UK

America’s emergency oil reserve is about to hit lowest level since Reagan era

Since March, Trump has tapped 66 million gallons of oil from the Strategic Petroleum Reserve

The Economic Times

The world's oil piggy bank is being smashed open. What can go wrong?

Global oil inventories are plummeting to multi-decade lows, exacerbated by Middle Eastern supply disruptions and the rapid depletion of strategic reserves. Escalating geopolitical tensions, particularly involving Iran, threaten further supply shocks. The world faces a potential oil crisis with diminished buffers and constrained transit routes, suggesting prolonged market vulnerability.

The Economic Times

Women-led development will add 2-3% to GDP: Petroleum Minister Hardeep Singh Puri

Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Wednesday highlighted that shifting from "women-centric" to "women-led" development can significantly drive India's economic growth, will directly boost GDP growth by 2-3 per cent, as the Cabinet passed a resolution hailing Prime Minister Narendra Modi's 4,399 days in office.

Salon

Get used to $5 gas

Even if the war ends now, it will take months for prices to come down

Fortune

America’s emergency oil reserve is about to hit its lowest level since Reagan was in office

The Trump administration has drained 66 million barrels from the SPR since the war in Iran began.

The Economic Times

India's May fuel consumption up 2.4%; LPG demand drops 20% amid Hormuz disruptions

India's fuel consumption rose to 19.93 million metric tons in May, a slight increase from April but a 6.5% drop year-on-year. Liquefied petroleum gas consumption plummeted by approximately 20% due to shipping disruptions and sanctions impacting Iranian imports. Gasoline sales declined, while diesel consumption saw an increase.

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