India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Noida: Oil India Limited (OIL), a Maharatna public sector undertaking under the Ministry of Petroleum and Natural Gas, has reported a significant milestone in its ongoing exploration campaign -- the first confirmed occurrence of natural gas in the Andaman Shallow Offshore Block. The discovery was made in the company's second exploratory well, Vijayapuram-2 (Location OAEA), drilled under the Open Acreage Licensing Policy (OALP) in Block AN-OSHP-2018/1. The announcement was made through an official press release on Friday. According to OIL, initial production testing of intermittent inflows has yielded gas samples that confirm the presence of natural gas. Further gas isotope studies are currently underway to determine the origin and characteristics of the gas, which may indicate the presence of a hydrocarbon system, including a potential source rock, migration path, or accumulation zone. "This discovery marks an important step in our offshore exploration efforts," the company stated. "It is the first reported hydrocarbon occurrence in the ongoing campaign within the Andaman Shallow Offshore Block, and it will significantly inform our future exploration and drilling strategy." OIL is also evaluating additional, higher-up prospects within the same well to better understand the scale and potential of the find.
Sivasagar, Jun 26 (PTI) Leakage of gas continued for the 15th day from a crude oil well of ONGC in Assam's Sivasagar district although the energy major on Thursday claimed that it is nearing to control the blowout. In its daily bulletin on the blowout, ONGC said it has achieved a key breakthrough in its ongoing operations in close coordination with international well control specialists from CUDD Pressure Control. "The team successfully cleared all remaining rig materials, including staircases, entangled wires and other structural components. "This critical step culminated in the safe remov ...Read More >
Guwahati, June 27 (UNI) The Oil and Natural Gas Corporation (ONGC) has successfully capped a high-risk gas well blowout at its RDS 147A site in Sivasagar district, Assam, bringing an end to a 15-day-long emergency operation that triggered mass evacuation and widespread public anxiety. The gas well blowout, which began on June 12, involved an uncontrolled release of natural gas from one of ONGC's drilling sites -- a situation often considered one of the most hazardous in the oil and gas industry due to the risk of explosion and environmental damage. The blowout was finally brought under contr ...Read More >
Kolkata (West Bengal) [India], June 27 (ANI): A female student was allegedly gang-raped inside a law college in Kolkata's Kasba on Wednesday evening. The police have arrested all three accused within 24 hours. The three accused, named as Monojit Mishra (31), Zaib Ahmed (19), and Pramit Mukhopadhyay (20), were former students or staff members of the same law college. Also Read | Student Gang-Raped at South Kolkata Law College: Police Arrest 3 Youths for Sexually Assaulting Young Woman Inside Law College. According to the police, the accused named in the FIR will be produced before the A.C.J. ...Read More >
Hyderabad (Telangana) [India], March 12 (ANI): Bharat Rashtra Samithi (BRS) Working President KT Rama Rao on Thursday wrote to Union Petroleum and Natural Gas Minister Hardeep Singh Puri seeking urgent intervention to address the shortage of both commercial and domestic LPG cylinders. According to a post by BRS on 'X', KTR warned that the shortage is severely affecting hotels, eateries, hostels and small food businesses. The letter cautioned that thousands of establishments could be forced to shut down, while lakhs of workers and students may face serious hardship if the LPG supply is not res ...Read More >
New Delhi, April 1 (SocialNews.XYZ) India's crude inventory is adequate, and all necessary arrangements have been made to ensure sufficient crude supply for the next two months, the government said on Wednesday. Petroleum and Natural Gas Ministry's Joint Secretary, Marketing and Refinery, Sujata Sharma, said all refineries are operating at optimal capacity, and no instances of fuel shortages have been reported at retail outlets. "I would also like to highlight that about two months ago, Brent crude was trading in the range of around $70 per barrel, whereas today, it has crossed $100 per barr ...Read More >
The event has brought together energy ministers from various states, top government officials, and industry leaders from the oil and gas sectorSource : pexel Minister of Petroleum and Natural Gas, Hardeep Singh Puri, on Thursday said that he expects the new round of hydrocarbon exploration being launched in India to strike several big Guyana-sized oilfields, particularly in the Andaman Sea. We will drill and explore for more hydrocarbons in an area of more than 2,00,000 sq km under OALP (Open A ...Read More >
Hyderabad, July 18 (UNI) In view of the ongoing heavy rains in Hyderabad, Chief Minister A Revanth Reddy has directed all concerned departments to stay on high alert and ensure swift response to public grievances. The Chief Minister instructed officials from GHMC, HMDA, Water Works, Electricity, and Police departments to work in close coordination to prevent any rain-related disruptions. He also emphasised the need for immediate action in areas facing waterlogging, power outages, or other rain-induced issues. CM Revanth Reddy further directed the deployment of SDRF, NDRF, Hydra teams, and ot ...Read More >
Hyderabad-based Megha Engineering & Infrastructures Ltd (MEIL) has secured a $225.5 million contract from Kuwait Oil Company to build, operate and manage a gas sweetening and sulphur recovery facility at Kuwait's oilfields. The project will be completed in 790 days, followed by five years of operations and maintenance. Indian multi-sector infrastructure firm Megha Engineering & Infrastructures has won a contract worth $225.5 million from Kuwait Oil Company (KOC), it said on Friday. The contract ...Read More >
Indian businesses say they are struggling to keep operations running as gas supplies are disrupted by the US and Israel's war on Iran. Restaurant owners are scrambling to keep kitchens running and entrepreneurs in industries like ceramics and fertilisers say they are unable to maintain their production and are warning of shutdowns. India has said it is not short of gas but has invoked emergency measures to ensure supplies get to domestic consumers and other key users. The country meets half of ...Read More >
The shockwaves of a war being fought nearly 3,000km away are now reaching India's kitchens. As the US-Israeli strikes on Iran disrupt energy shipments through the Strait of Hormuz, supplies of liquefied petroleum gas (LPG) are tightening across India, forcing restaurants to cut menus, shorten hours and in some cases shut down altogether. Social media is awash with video clips showing queues outside cooking-gas dealers across Indian cities and towns as worries over fuel supplies spread. Commerci ...Read More >
The Indian Premier League (IPL) 2026 season has barely begun, but it has already delivered its first major controversy. Following Kolkata Knight Riders' (KKR) six-wicket defeat to Mumbai Indians (MI) at the Wankhede Stadium, a pointed remark from captain Ajinkya Rahane has triggered a wider debate - forcing Cricket Australia (CA) to step in with a clarification. At the centre of the storm is Cameron Green, KKR's high-profile signing worth INR 25.20 crore, who did not bowl a single over despite MI's dominant chase of 220. KKR seemed in control after posting a commanding 220/4, but the script ...Read More >
Telangana Civil Supplies Minister N. Uttam Kumar Reddy wrote a letter to Union Minister for Petroleum and Natural Gas, N. Hardeep Singh Puri, with three requests to address the issues with shortage of Liquefied Natural Gas (LPG) shortage in Telangana. The issues, specifically faced by autos depended on LPG, is affecting livelihoods of the drivers and their families, and public transport too. 80% LPGs to autos supplied by private outlets Citing available data, Mr. Reddy said in the letter dated on Wednesday (March 30, 2026) that there are around one lakh autos in the State dependent on LPG. T ...Read More >
New Delhi [India], July 8 (ANI): Union Minister Hardeep Puri on Tuesday highlighted Central Government's series of sweeping policy reforms under the leadership of Prime Minister Narendra Modi to accelerate oil & gas exploration. These reforms, aimed at promoting exploration & production in the field of oil and gas. The government believes that these changes to increase the ease of doing business for our exploration and production (E&P) operators are being made after stakeholder consultation at every level.The minister, noted via a social media post on X that the recent amendments to the Oilfi ...Read More >
New Delhi: ONGC's production trend is beginning to turn after eight straight years of fall as a key new field in KG Basin ramps up and the old Mumbai High asset arrests decline. ONGC's crude production rose 3% year-on-year in November to 53,804 tonnes per day (tpd) and the output growth so far in December has accelerated to 4.2% to 54,535 tpd, according to people with knowledge of the matter. The output was marginally higher in three of the first seven months this fiscal year but there is a cle ...Read More >
New Delhi/Guwahati, June 27 (SocialNews.XYZ) State-owned Oil and Natural Gas Corporation Limited (ONGC) on Friday successfully capped the blowout in one of its wells in Assam's Sivasagar district, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has announced. Announcing the plugging of the blowout, Puri said in a post on X on Friday, "ONGC has successfully capped the blow out of well RDS#147A at 1115 hours hrs today. This blow out started on 12th June and has been capped successfully within the shortest possible time following all the best practices." He said the Crisis Manag ...Read More >
NEW DELHI: Oil and Natural Gas Corporation Limited (ONGC) on Monday announced the commencement of natural gas sales from the Chinnewala Tibba field, located in Rajasthan's Kutch Onland Exploratory Asset (RKOEA). The field is part of the Discovered Small Field (DSF-II) Block RJ/ONDSF/Chinnewala/2018, and production began on August 25, 2025. In a press release, the company said that this milestone marks the successful monetisation of the Chinnewala Tibba field and reinforces ONGC's commitment to ...Read More >
Hyderabad (Telangana) [India], October 28 (ANI): India's petroleum and energy sector is undergoing a transformative expansion, poised to play a defining role in shaping the global energy future, said Hardeep Singh Puri, Minister of Petroleum and Natural Gas, on Tuesday. Addressing the inaugural session of the Energy Technology Meet in Hyderabad today, he stated that India's energy journey reflects remarkable progress, driven by visionary policy frameworks, rapid innovation, and sustained investment across refining, biofuels, and green energy. Also Read | BTS V Flaunts Korean Heritage in Mode ...Read More >
New Delhi: The government has raised the administered price mechanism (APM) gas price for state-run producers like state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Limited (OIL) to $7 per mmBtu, up from $6.75 per mmBtu. The revision follows the pricing mechanism that the government had approved in 2023, according to an official notification. The revision applies to gas produced from legacy fields under the regulated pricing regime. APM gas makes up for about 60 per cent of the domestic gas production at 92 million standard cubic metres per day, and a hike in its rates will imp ...Read More >
New Delhi [India], December 3 (ANI): Oilfields (Regulation and Development) Amendment Bill, 2024 to expand the definition of mineral oils and include petroleum and natural gas passed in the Rajya Sabha on Tuesday. The bill was introduced by Union petroleum and natural gas minister Hardeep Singh Puri for consideration and passing. The Bill will regulate the exploration and extraction of natural gas and petroleum. The amended bill expands the definition of mineral oils to include petroleum and natural gas in it. Also Read | Pune: Doctors Perform Rare Laser Surgery on Woman Pregnant With Monoam ...Read More >
Gandhinagar, July 13 (SocialNews.XYZ) The 31st edition of Fit India Sundays on Cycle was held successfully nationwide this Sunday morning as Union Minister for Youth Affairs and Sports Mansukh Mandaviya led a group of over 500 participants here. Organised this week in partnership with Public Sector Undertakings (PSUs), the pan-India cycling drive witnessed participation from over 7000 locations across the country, reinforcing the message of "Fitness Ki Dose, Aadha Ghanta Roz". The participation included 3000 Namo Fit India Cycling clubs. "Fit India 'Sundays on Cycle' has now become a powerfu ...Read More >
Durgapur (West Bengal) [India], July 18 (ANI): Prime Minister Narendra Modi on Friday launched a sharp attack on Trinamool Congress (TMC), calling on people to give the Bharatiya Janata Party (BJP) a chance to form an "honest, hardworking, and strong" government in West Bengal in 2026 assembly polls. Addressing a public rally in Durgapur, PM Modi accused the TMC government of presiding over a "double attack of crime and corruption," especially in the education sector. Also Read | Is There Sunday Mega Block on July 20, 2025? Will Mumbai Local Train Services Be Affected on Central, Western and ...Read More >
New Delhi: Traffic in central Delhi will be affected on Thursday as the traffic police has issued an advisory due to the Janmashtami and Tazia processions.According to police, the traffic movement in Paharganj is likely to be affected from 1.30pm in view of the shobha yatra for Janmashtami and the Tazia procession.The Janmashtami procession will start from Mandir Shri Banke Bihari Ji in Paharganj's Sangatrasan Bazar and pass through Desh Bandhu Gupta Road, Chuna Mandi, Main Bazar, Munja Chowk and Arakashan Road. The Tazia procession will start from Ajmeri Gate and proceed through Pul Paharganj ...Read More >
New Delhi [India], September 27 (ANI): Oil India Limited (OIL), a Maharatna company under the Ministry of Petroleum and Natural Gas, on Friday, reported the occurrence of natural gas in its second exploratory well drilled in the Andaman Shallow Offshore Block, marking a significant step in its ongoing exploration campaign. The company, in a press release, said the well, named Vijayapuram-2, was drilled in the Offshore Andaman Block AN-OSHP-2018/1 under the Open Acreage Licensing Policy (OALP). According to the release issued by OIL, preliminary testing confirmed the presence of natural gas af ...Read More >
New Delhi [India], July 10 (ANI): Petroleum and Natural Gas Minister Hardeep Puri said India's continued purchase of crude oil from Russia helped stabilise energy prices globally, and halting oil trade from Russia would have spiralled crude prices to over USD 120-130 per barrel. When asked about buying Russian oil during a press interaction, Minister Puri explained that Russia produces over 9 million barrels per day and is one of the world's largest crude oil producers. If, out of global oil supplies of around 97 million barrels, 9 million barrels had suddenly vanished, the entire world woul ...Read More >
Gandhinagar (Gujarat) [India], July 13 (ANI): The 31st edition of Fit India Sundays on Cycle was held successfully nationwide on Sunday morning as Union Minister for Youth Affairs and Sports Mansukh Mandaviya led a group of over 500 participants in Gujarat's Gandhinagar, as per a release from SAI media. Organised this week in partnership with Public Sector Undertakings (PSUs), the pan-India cycling drive witnessed participation from over 7000 locations across the country, reinforcing the message of "Fitness Ki Dose, Aadha Ghanta Roz". The participation included from 3000 Namo Fit India Cyclin ...Read More >
NOIDA, 13 Aug: Oil India Limited, the Maharatna CPSE of govt. of India, sustained its consolidated PAT at Rs. 2046.51 Cr. in Q1FY26 vis-à-vis Rs. 2016.30 Cr. in Q1FY25. It was informed during the company's 570th meeting of the board of directors held here on Tuesday wherein it declared its financial results for Q1FY26. OIL achieved a standalone PAT of Rs. 813.48 Cr. in Q1FY26 vis-à-vis Rs.1466.84 Cr. achieved in Q1FY25 due to sharp drop in crude price realisation from USD 84.89/bbl in Q1FY25 to USD 66.20/bbl in Q1FY26, a drop of 22%. The consolidated Earnings Per Share (EPS) for Q1FY26 is Rs. ...Read More >
New Delhi [India], August 25 (ANI): Oil and Natural Gas Corporation Limited (ONGC) has officially commenced sales of natural gas from its Chinnewala Tibba field, a Discovered Small Field (DSF-II) block located in the Rajasthan Kutch Onland Exploratory Asset (RKOEA). According to a statement from the state-owned company, this significant milestone reinforces ONGC's commitment to enhancing domestic energy production and strengthening India's energy security under the guidance of the Ministry of Petroleum and Natural Gas (MoP&NG). Also Read | 'Punish Those Who Implicate Others': Arvind Kejriwal ...Read More >
Oil India Limited (OIL) has reported a significant natural gas occurrence in its second exploratory well, Vijayapuram-2, within the Andaman Shallow Offshore Block. Preliminary testing confirmed the gas presence, marking a crucial milestone in India's exploration efforts and the first hydrocarbon find in this campaign. Oil India Limited (OIL), a Maharatna company under the Ministry of Petroleum and Natural Gas, on Friday, reported the occurrence of natural gas in its second exploratory well drill ...Read More >
New Delhi [India], July 10 (ANI): GAIL (India) signed a Gas Sale and Purchase Agreement with Oil India Limited (OIL) for extending the existing Gas Sale and Purchase Agreement for another 15 years, starting from 1st July, 2025, according to an official statement by the company. GAIL on Thursday stated that the agreement is to supply up to 900,000 Standard Cubic Meters per Day (SCMD) of natural gas from OIL's Bakhri Tibba Block of Rajasthan, covering Dandewala, Tanot and Bagi Tibba fields. The agreement was executed by Sumit Kishore, ED (Marketing-Gas), GAIL, and Ranjan Goswami, ED (BD), OIL, ...Read More >
New Delhi: State-run GAIL (India) Ltd has signed a long-term LNG sales and purchase agreement with Vitol Asia Pte. Ltd for the annual supply of approximately 1 million metric tonnes per annum (MMTPA) of liquefied natural gas over a 10-year period, starting in 2026. Under the agreement, Vitol will deliver LNG to GAIL from its global portfolio, the company said in a statement. "GAIL is expanding its long-term LNG portfolio to meet demand growth. We are pleased to partner with Vitol Asia Pte. Ltd, and this agreement represents a key milestone in reinforcing GAIL's capability to reliably serve i ...Read More >