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Mumbai, 8 April (Argus) -- Indian LNG importers may still need to bid for uncommitted LNG cargoes from the Atlantic despite a ceasefire agreed between the US and Iran. Indian LNG importers are issuing a series of spot LNG tenders this week as global prices softened with weaker demand emerging out of Europe and other parts of Asia, which in turn may lead to shippers diverting their uncommitted Atlantic cargoes to India. Indian state-run refiner IOC has raised a total of two spot LNG tenders for ...Read More >
India's import of liquefied natural gas (LNG) from its largest supplier -- Qatar -- declined to its lowest on record in March 2026 as the West Asia conflict led to the closure of the Strait of Hormuz (SoH). Besides, Iran's attack on QatarEnergy's LNG facilities, in retaliation for attacks by the US and Israel, led to declaration of force majeure and production shutdowns early last month, further exacerbating India's natural gas imports, which account for roughly half of its consumption. India' ...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 d ...Read More >
NEW DELHI: Domestic urea manufacturing has been hit due to the West Asia crisis, with production falling to 18 lakh tonnes this month from the earlier average of 24 lakh tonnes. But the output is set to increase with greater availability of LNG, procured through "spot buying" every fortnight, officials have said.The govt has maintained that there is an adequate stock of fertilisers and is tapping alternative sources to boost supplies, even as urea units that had taken annual maintenance shutdown ...Read More >
NEW DELHI, March 11 (Reuters) - Indian gas firm GAIL has bought an Omani liquefied natural gas cargo as the South Asian nation attempts to meet its natural gas demand, three trade sources said. GAIL has bought the prompt cargo for delivery next week from a European trader through negotiations at a fixed price of $17-$20 per million British thermal units, two of the three sources said. The cargo loaded on the vessel Orion Hugo, chartered by Shell, is scheduled to arrive in India around March ...Read More >
ONGC shares: ONGC posted an 18.2% YoY rise in Q1FY26 consolidated net profit to ₹11,554.21 crore, even as revenue fell 3.2% to ₹1,63,108 crore. Standalone profit dropped 10.2% YoY to ₹8,024 crore but grew 24% QoQ, while standalone revenue slid 9.3% YoY to ₹32,003 crore. EBITDA declined 2% YoY to ₹18,657 crore. Shares of state-run Oil and Natural Gas Corporation (ONGC) are set to be in focus on Wednesday after the energy major posted a mixed set of first-quarter earnings, with profit gr ...Read More >
NEW DELHI: The government has raised the price of natural gas from state-run ONGC and Oil India Ltd's legacy fields to $6.89 per unit (million British thermal units) for July from $6.41 as the ripples from a surge in oil prices following the Israel-Iran conflict hit home.But the actual increase in the price will be limited to 34 cents, or 5%, due to the price cap of $6.75 per unit, which will be the applicable rate from July 1, a government notification said on Monday.Legacy gas is primarily con ...Read More >
The Gas IndeX of India (GIXI) for May was recorded at Rs 1,016, equivalent to USD 11.9 per million British thermal units. This marks a 19% increase compared to the previous year, aligning with higher European and Asian spot gas benchmarks. However, on a month-to-month basis, GIXI saw a 5% decline due to reduced demand and increased supply, according to a statement from the Indian Gas Exchange Limited (IGX). Trade volumes on IGX also experienced a 5% year-on-year decrease, amounting to 4.7 milli ...Read More >
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