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Technology

Policy Economic Report July 2026 - v4

By sanjay singh

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Share link
https://covver.com/magazine/sanjaysingh1305/policy-economic-report-july-2026-v4-2
Published
Aug 7, 2026
Pages
80
Language
English

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  • CoverFIPI Federation of Indian Petroleum Industry
  • Page 2FIPI POLICY AND ECONOMIC OIL & GAS MARKET
  • Page 3FIPI POLICY AND ECONOMIC OIL & GAS MARKET
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  • Page 7FIPI POLICY AND ECONOMIC
  • Page 8FIPI POLICY AND ECONOMIC OIL & GAS MARKET and options. Speculators were increasingly betting on easing geopolitical risk premiums. At the same time, they sharply raised short positions to their highest level since December 2025, fuelling volatility and accelerating the decline in oil futures prices. Combined futures and options net long positions in ICE Brent and NYMEX WTI dropped to their lowest level since January 2026.
  • Page 9FIPI POLICY AND ECONOMIC OIL & GAS MARKET
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  • Page 16FIPI POLICY AND ECONOMIC OIL & GAS MARKET growth path despite recent geopolitical disruptions. Emerging market economies generally outperformed advanced economies, with India recording the strongest expansion among all economies covered by the survey, followed by Ireland, China and Japan, reflecting the continued resilience of domestic demand in several Asian economies.
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  • Page 21FIPI POLICY AND ECONOMIC OIL & GAS MARKET per cent in FY 2026-27, compared with 7.7 per cent in FY 2025-26, before improving modestly to 6.8 per cent in FY 2027-28. While the projected slowdown reflects a more challenging global environment, India's growth outlook continues to compare favourably with that of other major economies, supported by resilient domestic demand, sound macroeconomic fundamentals and continued policy support.
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Figure 14: HSBC India Manufacturing PMI sa, >50 growth since previous month
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Figure 15: Total Trade during June 2026
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  • Page 33FIPI POLICY AND ECONOMIC OIL & GAS MARKET
  • Page 34FIPI POLICY AND ECONOMIC OIL & GAS MARKET kilometres of previously restricted offshore areas have significantly expanded exploration opportunities. These reforms, complemented by investments in geoscientific surveys and the National Data Repository, are expected to improve exploration success rates and attract greater investment into frontier basins.
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Indian Basket Crude oil price
  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Table 4: Non-Doc liquids production in 2026, mb/d
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  • POLICY AND ECONOMICFIPI OIL & GAS MARKET
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  • Page 46FIPI POLICY AND ECONOMIC OIL & GAS MARKET
  • Page 47FIPI POLICY AND ECONOMIC OIL & GAS MARKET was further revised for the period 1st April, 2025 30th September, 2025 was notified as US$10.04/MMBTU on Gross Calorific Value (GCV) basis. Prices were further revised for the period 1st October, 2025 - 31st March, 2026 was notified as US$9.72/MMBTU on Gross Calorific Value (GCV) basis as per notification dated 30th September 2025. As per notification dated 31st March 2026, gas prices were further revised for the period 1st April 2026-30th September 2026 and was notified as US$ 8.90/MMBTU on Gross Calorific Value (GCV) basis.
  • POLICY AND ECONOMICFIPI OIL & GAS MARKET
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  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Solar street lighting and provision of lighting in Rs. 1 lakh per MPC MPCs of PVTG areas (under PM JANMAN
  • Page 70FIPI POLICY AND ECONOMIC OIL & GAS MARKET
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  • Page 73FIPI POLICY AND ECONOMIC OIL & GAS MARKET success of efforts to ramp up assured domestic supply and reduce reliance on the blending mandate.
  • Page 74FIPI POLICY AND ECONOMIC
  • Page 75FIPI POLICY AND ECONOMIC OIL & GAS MARKET bring together governments, industry, investors, technology leaders, researchers, startups and academia to strengthen partnerships, promote innovation and shape the future of sustainable and technology-driven mining. Highlighting the transformative reforms undertaken over the past decade under the leadership of Prime Minister Shri Narendra Modi, he noted that transparent auctions, commercial coal mining, accelerated exploration, ease of doing business and technology-led governance have positioned India among the world's most attractive mining destinations. Referring to emerging global challenges related to energy security, critical minerals and resilient supply chains, he said India is pursuing an integrated approach that combines policy reforms, technological advancement, value addition, sustainability and international collaboration to build a future-ready mining ecosystem. The Minister expressed confidence that the event would strengthen global partnerships, showcase India's mineral potential and technological capabilities, and contribute to realizing the vision of Aatmanirbhar and Viksit Bharat. He urged all technology innovators, researchers, industries and other stakeholders to be part of the India Mining Week 2026.
  • Page 76FIPI POLICY AND ECONOMIC OIL & GAS MARKET policy reforms and accelerated exploration. Announcing the forthcoming launch of the 8th round of Critical and Strategic Mineral Blocks auctions, he said the initiative will further strengthen domestic availability of critical minerals, encourage greater private sector participation, attract investment and reinforce India's resilient mineral value chains. He noted that India Mining Week 2026 will serve as a global platform to showcase India's mining reforms, resource potential and emerging opportunities while fostering international collaboration, innovation and investment in the sector.
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FIPI

POLICY AND ECONOMIC OIL & GAS MARKET

The anticipated inflows are expected to strengthen India's balance of payments, augment foreign exchange reserves and improve liquidity in the domestic foreign exchange market. A stronger reserve position would provide the Reserve Bank of India with greater flexibility to manage exchange rate volatility and cushion the economy against external shocks arising from volatile capital flows, elevated crude oil prices and geopolitical risks. In addition, sustained foreign currency inflows are expected to reinforce investor confidence, improve India's external financing position and support macroeconomic stability during a period of heightened global uncertainty.

The FCNR(B) initiative also highlights the increasing role of policy flexibility in external sector management. By leveraging the Indian diaspora and providing targeted incentives to financial institutions, the RBI has created an effective mechanism to augment foreign currency resources without imposing restrictions on capital flows. If the projected inflows materialize, the initiative could become one of the largest foreign currency mobilization programmes undertaken by the RBI, further strengthening India's resilience against external vulnerabilities and supporting sustainable economic growth over the medium term.

7. India opens a new frontier in offshore hydrocarbon exploration with ONGC's First Deepwater Well

India's quest for greater energy security entered a new phase with the commencement of ONGC's first deepwater exploratory well in the Mahanadi Offshore Basin off the Odisha coast. The drilling of the MN- DW18-1-H-D well under the Government's Samudra Manthan Campaign marks a significant milestone in India's efforts to unlock its deepwater and ultra-deepwater hydrocarbon resources, which remain among the least explored yet most promising energy frontiers in the country. The initiative reflects the Government's broader strategy to enhance domestic oil and gas production, reduce dependence on imported hydrocarbons and strengthen long-term energy security.

The exploratory well is located approximately 23 nautical miles from ONGC's Konark discovery and builds upon the company's recent Utkal and Konark discoveries, which have significantly improved the hydrocarbon prospectivity of the Mahanadi Offshore Basin. The current drilling programme is the first in a series of planned deepwater wells aimed at evaluating the basin's commercial potential and generating critical geological data for future exploration and production activities.

Deepwater exploration has emerged as a strategic priority for India as the country seeks to arrest the long-term decline in domestic crude oil production while meeting rapidly growing energy demand. According to ONGC, India's eastern and western offshore basins, extending to water depths of up to 3,000 metres, are estimated to contain more than 5,600 million tonnes of oil equivalent (MTOE) of hydrocarbon resources. Successful exploration of these reserves could substantially augment domestic oil and natural gas production, reduce import dependence and diversify India's energy supply over the coming decades.

The commencement of drilling also reflects the impact of a series of policy reforms undertaken by the Government to revitalise India's exploration and production (E&P) sector. The introduction of the Hydrocarbon Exploration and Licensing Policy (HELP), expansion of the Open Acreage Licensing Policy (OALP), adoption of a transparent revenue-sharing regime and the opening of nearly one million square

July 2026