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- CoverFIPI Federation of Indian Petroleum Industry
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- 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.
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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 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 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.
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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
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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.
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- 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
Their statements were backed by real-world service data:
Maruti Suzuki analysed 2.84 crore vehicles serviced in FY 2025-26, including over 1.5 crore older vehicles, and found no E20-related corrosion, abnormal wear or reduction in component life. Hero MotoCorp reported that its extensive service data showed no higher incidence of vehicle damage in two-wheelers operating on E20.
Toyota Kirloskar stated that E20 was introduced only after rigorous testing on older vehicles, following internationally recognised testing protocols under UNECE standards.
6. India's ethanol blended petrol programme balances food security, farmer welfare and energy security
PIB in its report has brought out that the Ethanol Blended Petrol (EBP) Programme is a key national initiative to enhance India's energy security, reduce dependence on imported crude oil and support farmers while safeguarding food security. Certain recent claims have presented an incomplete and misleading picture of the programme. The following clarifications address these issues and set out the factual position.
Claim: The Government sold FCI rice worth *37/kg to distilleries at *23/kg, causing a loss of *10,000 crore. The Government has also admitted that ethanol is more expensive than petrol, so E20 survives only because taxpayers subsidise it.
No compromise on food security - ethanol never comes at the cost of the poor
⚫ The allegation is not just misleading; it turns the truth on its head.
• Every food grain grain first serves the Public Distribution System (PDS), the National Food Security Act (NFSA), welfare schemes, and mandatory buffer stocks. Not a single grain procured at MSP is diverted to ethanol before India's food security is secured.
Only the surplus, certified by the Department of Food & Public Distribution after every food security obligation has been met, is approved for ethanol production.
What actually goes into the ethanol programme is the damaged grain, broken rice, and foodgrain unfit for human consumption-stocks that would otherwise rot in warehouses.
This is not taking food away from the poor; it is turning waste into wealth, reducing imports, and putting more money into the hands of Indian farmers.
⚫ And the programme is moving even further ahead. Through the Pradhan Mantri JI-VAN Yojana, India is rapidly expanding 2G (Second generation) ethanol from agricultural residue, reducing dependence on food grains altogether.
• The facts are clear: the Government protects every grain needed for food security first, and only then converts surplus and waste into clean energy. The claim isn't just wrong, it ignores the very safeguards that make India's ethanol programme one of the world's most responsible.
Rice was not given special treatment
⚫ The claim creates the impression that FCI rice was sold to ethanol producers at an unusually cheap price. That is simply not true.
July 2026