Oil & Gas
Find the latest oil & gas news, government tender updates, and real-time prices from top sources for the Indian energy industry. The next-gen platform also help...
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Daily Report on Oil & Gas Industry
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DI Pipe Bookings Surge; Price Hike Likely Soon
With contractors rushing to procure pipes before the monsoon, demand—especially for smaller diameter DI pipes—has risen sharply. Market liquidity has improved slightly, helping traders, but several projects still face delays due to pending payments. Pipe prices remain stable, although pressure is building for a potential hike. ERW pipe prices have settled after recent increases, backed by steady demand in both primary and secondary markets.
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Indian Refiners Boost US Oil Imports Ahead of Trade Talks
Crude oil prices dipped as Brent fell to $63.61 and WTI to $59.72, amid weaker Asian refinery demand and rising trade tensions. Meanwhile, the Indian Rupee marginally appreciated. India’s crude sourcing shifts toward the US, with record June purchases planned, positioning oil imports as leverage ahead of May’s India - US trade talks.
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Bitumen Market Steady Amid Global Volatility and Seasonal Demand Boost
Crude oil prices dropped sharply, with Brent at $66.18 and WTI at $62.45 per barrel, amid rising supply and weak demand. Bitumen held steady across most Asian markets, though Bahrain saw a $50 drop. Indian prices remained firm, supported by seasonal construction demand, despite overall market caution.
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Fuel Oil Market Sees Mild Decline Amid Stable Shipping Demand and Supply Pressures
Virgin 180cST Furnace Oil prices in India are ₹47.5–₹49/kg. East China’s 180cST market declined 0.45% to $751/ton. Global inventories show mixed trends: fuel oil stocks rose, while middle distillates fell. Despite slight crude gains, cautious buying dominates, keeping fuel oil market sentiment consolidative amid OPEC+ policy uncertainties.
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Crude Price Drop and Fiscal Flexibility Anchor India’s 6.5% Growth Outlook Amid Global Headwinds
Crude oil prices rose modestly, with WTI at $64.19/bbl and Brent at $67.89/bbl. Domestic demand in India stays resilient, aided by easing inflation and fiscal headroom. Bitumen, base oil, and lubricants remain stable across regions. Export headwinds persist amid global tariff tensions, but GDP growth is projected at 6.5% for FY26.
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UK Imposes Provisional Anti-Dumping Duties on Engine Oils and Hydraulic Fluids: GOV.UK
Base Oil (SN150) is priced at ₹68/kg in Delhi and ₹61.5/litre in Kandla. In Bhiwadi, hydraulic and specialty oils range from ₹87 to ₹135/litre. UK imposes anti-dumping duties on engine oil and hydraulic fluid imports from Lithuania and UAE, aiming to protect domestic manufacturers from price undercutting and margin erosion.
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India's Crude Imports Shift: OPEC Share Hits Record Low as Russian Oil Dominates in FY 2024-25
Crude oil prices saw modest gains, with WTI at $64.19/bbl and Brent at $67.89/bbl. The Indian Rupee weakened to ₹85.34/USD. Russia now supplies 36% of India’s crude, outpacing OPEC. Domestic bitumen, base oil, and fuel oil prices remain stable. Market sentiment is bullish amid tightened supply and rising geopolitical risks.
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Base Oil Prices Steady-to-Soft as Market Awaits Clarity on Tariffs and Crude
Base oil prices in Asia remained soft in April amid sluggish demand and geopolitical uncertainty. Select grades like Bright Stock and Group III remain tight due to supply constraints. However, Group II prices faced downward pressure from rising inventories. Market outlook stays cautious as crude benchmarks decline and trade risks persist.
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DI Pipe Demand Surges Amid Infrastructure Resumption, Prices Hold Steady
The DI pipe market sees rising demand from infrastructure projects in Maharashtra, Madhya Pradesh, Telangana, and Karnataka as states resume work after receiving partial funds. While supply remains stable and manufacturers are offering bulk orders at discounted rates, prices have yet to rise. However, with project execution ramping up, prices may increase soon.
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Oil & Gas Industry Bytes: Top Stories at a Glance
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Understanding the Composition & Manufacturing Process of Bitumen Emulsion
Published on: Apr 10, 2025
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Future of Fuel Oil: Will Renewable Alternatives Replace It?
Published on: Apr 9, 2025
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What is Fuel Oil? A Comprehensive Guide to Its Types & Uses
Published on: Apr 8, 2025
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Oil Price Forecasting: Strategies for Energy Buyers & Traders
Published on: Apr 7, 2025
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India’s Oil & Gas Sector: Key Developments & Policy Updates in 2025
Published on: Apr 4, 2025
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Top 6 Raw Materials Whose Prices Are Going to Rise This Year
Published on: Feb 27, 2025
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A Complete Guide to Industrial Coatings: Types, Benefits, and Applications
Published on: Feb 4, 2025
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