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HPCL fire at Rajasthan refinery traced to suspected hydrocarbon leak as Modi visit delayed

HPCL fire at Rajasthan refinery traced to suspected hydrocarbon leak as Modi visit delayed

A fire broke out at the HPCL Rajasthan Refinery in Pachpadra, with officials saying a suspected hydrocarbon leak likely triggered the blaze. Emergency teams brought the situation under control quickly, and there were no reported injuries. The refinery’s Crude Distillation Unit was isolated as investigations begin. Prime Minister Narendra Modi’s scheduled dedication visit has been postponed.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Household LPG sales fall 8% as Iran conflict disrupts imports and supply

Household LPG sales fall 8% as Iran conflict disrupts imports and supply

In March, household LPG sales fell 8% as state oil companies adjusted supplies amid reduced imports linked to the ongoing Iran conflict. The drop was far steeper for other segments, with commercial LPG consumption down 48% and bulk LPG distribution to industries falling 75.5%, signaling widespread disruptions across India’s LPG supply chain.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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India LPG consumption plunges 13% as West Asia conflict disrupts supplies

India LPG consumption plunges 13% as West Asia conflict disrupts supplies

India’s LPG consumption fell 13% in March, driven by West Asia conflict-related supply disruptions. While the government pushed to strengthen domestic production and support household demand, commercial and bulk LPG sales dropped sharply. Still, for the fiscal year ending March 2026, total LPG consumption rose about 6%, highlighting how short-term disruption contrasted with longer-term demand.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
CBM licensing round draws few bidders as most blocks go unsold

CBM licensing round draws few bidders as most blocks go unsold

India’s latest coal bed methane licensing round failed to spark much competition, with seven of 13 blocks receiving no bids and four landing just a single bidder. Even a Special CBM Bid Round 2026 with more liberal terms attracted only three companies, leaving just two blocks to face competitive bidding.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Reliance and Essar surge ahead in bidding for coal bed methane blocks

Reliance and Essar surge ahead in bidding for coal bed methane blocks

Reliance Industries and the Essar Group have emerged as top contenders in the coal-bed methane bidding round, after the Directorate General of Hydrocarbons offered 16 exploration blocks in two phases. Oil India has stayed in the process, while ONGC has withdrawn, narrowing the field just as interest from major energy players rises.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Fire Breaks Out at Rajasthan Refinery Days Ahead of Modi Inauguration

Fire Breaks Out at Rajasthan Refinery Days Ahead of Modi Inauguration

A fire broke out at the Pachpadra Refinery-cum-Petrochemical Complex in Balotra, prompting swift action from emergency services to bring the blaze under control. The incident occurred just a day before Prime Minister Narendra Modi’s planned visit to inaugurate India’s first greenfield integrated refinery-petrochemical complex, an energy-sector milestone expected to reshape capacity and investments.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Can BP’s playbook revive ONGC’s Mumbai High wells as production keeps slipping

Can BP’s playbook revive ONGC’s Mumbai High wells as production keeps slipping

Mumbai High, once a flagship asset for India’s energy sector, is seeing production fall sharply. ONGC is now betting on a partnership with BP, drawing on BP’s track record of boosting output at Iraq’s Rumaila oilfield. The move aims to slow decline in ageing wells and restore steadier production, but execution risk remains high.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
ONGC’s comeback slips again as KG delays and Mumbai High lag derail recovery plans

ONGC’s comeback slips again as KG delays and Mumbai High lag derail recovery plans

ONGC had promised the turnaround would finally end its long decline this year. But the company now says the recovery is slipping, citing delays in KG, slower progress at Mumbai High, and shifting of key production volumes to next year. The revival that was eagerly awaited appears to be stalled once more, raising fresh questions about timelines.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
ONGC scraps jack up rig tender as bids jump 60 percent and cartel fears surface

ONGC scraps jack up rig tender as bids jump 60 percent and cartel fears surface

State-run ONGC cancelled a jack-up rig tender after spotting unusual bid patterns and steep price hikes it suspects are collusive. The company says day rates rose almost 60% in nine months, far above market expectations. ONGC wants fair competition and to protect public money by tightening procurement integrity and preventing cartelisation.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Indian Oil profit surge stalls as its INR2 lakh crore market cap freezes for seven years

Indian Oil profit surge stalls as its INR2 lakh crore market cap freezes for seven years

Indian Oil has been a steady earner for India Inc, contributing about 3% of profits, yet its market cap has barely moved for seven years. The gap between rising profitability and stagnant valuation raises questions about market confidence, pricing dynamics, and how investors view future cash flows for a state-linked energy giant.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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ONGC cancels jack up rig tenders, operators may pull out and choke offshore output

ONGC cancels jack up rig tenders, operators may pull out and choke offshore output

ONGC has cancelled multiple tenders for jack-up rigs, triggering alarm across India’s offshore drilling industry. Rig operators are reportedly considering withdrawing assets from the country, which could slow or disrupt domestic oil production and jeopardize future exploration plans. The move highlights how procurement decisions are now directly affecting capacity in the offshore sector.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Reliance Quietly Prints Profits in Oil and Gas While Retail and Jio Chase Growth

Reliance Quietly Prints Profits in Oil and Gas While Retail and Jio Chase Growth

While investors watch Reliance Jio’s subscriber gains and Reliance Retail’s relentless expansion, the company’s upstream oil and gas business has been quietly thriving. It delivered one of its best years ever, emerging as Reliance’s most profitable unit. The shift highlights how earnings may be driven by energy even as newer consumer bets dominate headlines.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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