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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

More in this magazine

  • 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 6FIPI POLICY AND ECONOMIC OIL & GAS MARKET
  • 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 12FIPI POLICY AND ECONOMIC OIL & GAS MARKET
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  • Page 15FIPI POLICY AND ECONOMIC OIL & GAS MARKET
  • 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.
  • Page 17FIPI POLICY AND ECONOMIC OIL & GAS MARKET
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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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  • Page 29FIPI POLICY AND ECONOMIC OIL & GAS MARKET
  • POLICY AND ECONOMIC OIL & GAS MARKETFIPI Figure 15: Total Trade during June 2026
  • Page 31FIPI POLICY AND ECONOMIC OIL & GAS MARKET
  • Page 32FIPI POLICY AND ECONOMIC OIL & GAS MARKET
  • 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.
  • Page 35FIPI POLICY AND ECONOMIC
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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 has been awarded after 2014, reflecting the confidence these reforms have inspired among investors and explorers alike.

Emphasising the importance of scientific exploration, the Minister said the Government has made sustained investments in geoscientific data generation through initiatives such as Mission Anveshan, the National Seismic Programme, the Extended Continental Shelf Survey, the National Data Repository and the Hydrocarbon Resource Assessment Study, creating one of the world's most comprehensive geoscientific databases to unlock India's frontier basins.

Highlighting the progress achieved under the Government's exploration reforms, Shri Puri said that under OALP, 172 exploration blocks covering nearly 3.8 lakh square kilometres have been awarded with committed investments exceeding USD 4.3 billion. During FY 2025-26 alone, around 674 wells were drilled, five new discoveries were made and seven discoveries were monetised.

The Minister said the Government's strategy is two-fold-discovering new hydrocarbon resources while maximising recovery from existing national assets. He added that efforts are also underway to revitalise mature producing fields through the deployment of advanced technologies and global best practices. The Minister emphasised that India's energy future will not be secured by a single discovery but through sustained reforms, cutting-edge technology, scientific exploration and the dedication of thousands of geologists, engineers, scientists and offshore professionals.

Congratulating ONGC, Oil India Limited, the Directorate General of Hydrocarbons, technical partners and the entire exploration fraternity, Shri Puri expressed confidence that commencement of drilling would further strengthen India's offshore exploration efforts and contribute to the country's long- term energy security and goal of energy self-reliance.

3. Government hikes windfall tax on diesel, ATF; cuts levy on petrol exports

The government has increased the windfall gains tax on exports of diesel and ATF, while lowering the levy on petrol for the fortnight beginning Thursday (July 16, 2026). The rate of Special Additional Excise Duty (SAED) on diesel exports has been increased to 15.5 a litre from *8.5 a litre. Similarly, SAED on ATF exports has been raised to *14.5 per litre from *7.5 per litre till Wednesday (July 15, 2026). However, the export duty on petrol has been cut to *2.5 per litre, from 4 per litre. The Finance Ministry, in a notification, said the duty hikes will be effective from July 16.

4. E20 rollout based on scientific validation and extensive stakeholder consultation

PIB in its report has brought out that the Ethanol Blended Petrol (EBP) Programme has been implemented through a phased, scientifically validated and consultative process involving NITI Aayog, automobile manufacturers, Oil Marketing Companies (OMCS), Automotive Research Association of India (ARAI), Society of Indian Automobile Manufacturers (SIAM), Indian Institute of Petroleum (IIP) and other technical institutions.

July 2026