Ministry of Petroleum and Natural Gas | Business Upturn

India‑flagged LPG vessel Jag Vikram safely crosses Strait of Hormuz

Rashmi Pandey — Sat, 11 Apr 2026 12:36:58 +0000

India has successfully navigated a major test in the current Gulf tensions as the India‑flagged liquefied petroleum gas (LPG) vessel Jag Vikram safely crossed the Strait of Hormuz on 11 April 2026. The ship was carrying approximately 20,400 metric tonnes of LPG with 24 seafarers on board, according to the Ministry of Petroleum and Natural Gas, which confirmed the transit in an official update on the same day. The safe passage marks a key milestone for India’s energy‑security and commercial‑shipping operations amid ongoing US‑Iran‑linked hostilities in the region.

The Ministry of Petroleum and Natural Gas described the transit as a “safe and incident‑free” crossing, underscoring the importance of uninterrupted hydrocarbon flows through the Strait of Hormuz for India’s energy imports and downstream sectors. The Jag Vikram is scheduled to arrive in Mumbai on 15 April 2026, where the LPG cargo will be discharged for processing and distribution to industrial, commercial and residential users across the country. The ministry has stated that the successful voyage reflects coordinated efforts by Indian maritime agencies, the Indian Navy, and the government’s crisis‑management apparatus to ensure safe navigation during the broader regional stand‑off.

Open‑source shipping and government‑linked sources indicate that the Jag Vikram is part of India’s strategically important fleet handling LPG and other liquefied gases, and that its passage through the Strait of Hormuz was closely monitored by Indian authorities in coordination with naval and coast‑guard units. The vessel’s route and operational details have been treated as sensitive during the current phase of heightened risk in the waterway, although officials have emphasized that no attacks, diversions or detentions occurred during this particular transit.

The safe crossing of the Jag Vikram comes at a time when global shipping and energy markets are closely watching the Strait of Hormuz, which carries a large share of the world’s seaborne oil and gas trade. For India, an uninterrupted flow through the Strait is critical not only for LPG imports but also for crude oil and other energy products, and the government has reiterated that it will continue to work with international partners and local security agencies to maintain the safety of Indian‑flagged vessels in the region.

Key highlights

India‑flagged LPG ship Jag Vikram safely crosses Strait of Hormuz
Carrying 20,400 MT of LPG with 24 crew on board
Scheduled to reach Mumbai on 15 April 2026
Ministry of Petroleum and Natural Gas confirms safe, incident‑free transit
Transit seen as important for India’s energy‑security in Gulf tensions

Tatva Chintan faces 20% cut in gas supply under new regulation

Business Desk — Sat, 14 Mar 2026 14:45:17 +0000

Tatva Chintan Pharma Chem is set to experience a reduction in natural gas supply following a new government regulation amid geopolitical tensions.

The Ministry of Petroleum and Natural Gas has issued the “Natural Gas (Supply Regulation) Order, 2026,” which mandates that industrial consumers, including Tatva Chintan‘s manufacturing facilities, will receive only 80% of their average gas consumption from the past six months. This decision, influenced by conflicts in the Middle East, aims to manage the allocation and pricing of natural gas. The supply and allocation will now be determined by a Pooled Price mechanism, as notified by the Petroleum Planning & Analysis Cell, which will set the final retail sale price for the company’s units. This order, classified as a Force Majeure mitigation measure, overrides existing Gas Sales Agreements concerning pricing and contract quantities.

In response, Tatva Chintan has arranged for alternative fuel sources, as permitted by the Gujarat Pollution Control Board, and is optimising production processes to mitigate the impact on output. The company is monitoring the situation closely and will update the stock exchanges with any significant developments.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Business Desk and reviewed by Aman Shukla before publication.

Mahanagar Gas faces supply cuts due to geopolitical tensions

Business Desk — Wed, 11 Mar 2026 14:02:05 +0000

Mahanagar Gas Limited has announced a reduction in gas supplies to its Industrial and Commercial (I&C) customers due to geopolitical developments affecting global energy markets.

The company reported that some of its gas suppliers have curtailed supply, impacting its ability to meet demand from I&C customers. This move follows an order from the Ministry of Petroleum and Natural Gas, dated 9 March 2026, which prioritises the supply of natural gas to Domestic Pipeline Natural Gas (DPNG) and Compressed Natural Gas (CNG) sectors. The order advises curtailment of gas supply to I&C customers to ensure availability for priority sectors.

In compliance with the ministry’s directive, Mahanagar Gas has taken necessary steps to adjust its supply in line with the prescribed guidelines. The company is currently assessing the impact of these changes and is closely monitoring the situation. It has committed to informing the stock exchanges of any material updates or developments.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Govt to take appropriate action for ensuring ongoing supplies of oil at stable prices: Petroleum Ministry

Vaishali Pandey — Sat, 26 Feb 2022 13:41:02 +0000

In the midst of the conflict between Russia and Ukraine, India’s government stated today that it is “closely monitoring global energy markets” and potential “energy supply disruptions” as a result of the changing geopolitical scenario.

The Ministry of petroleum and gas said, “With a view to ensuring energy justice for its citizens and for just energy transition towards a net-zero future, India stands ready to take appropriate action for ensuring ongoing supplies at stable prices.”

Ministry further added that India is also committed to supporting attempts to release “strategic” petroleum reserves in order to mitigate market volatility and calm the surge in crude oil prices.

Concerns that supply might be hampered as a result of Russia’s attack on Ukraine pushed international oil prices to a seven-year high of USD 105.58 on February 24. As a result of western sanctions on Russia, the rates have dropped below USD 100.

Prices are anticipated to rise as long as supply lines remain accessible. Petrol, gasoline, and cooking gas (LPG) prices have been frozen for over four months due to the election, but PSU oil corporations are anticipated to pass on higher global oil costs to consumers immediately after the Uttar Pradesh polls next month.

This was the first time India, which has 5.33 million tonnes of crude oil stored in subterranean chambers at three places along the east and west coastlines, had consented to release stockpiles for such a purpose. That was when petroleum was trading between USD 82 and USD 84 a barrel. It is now significantly higher.

BPCL divestment to be profitable just like Air India’s privatisation: Petroleum Minister Hardeep Singh Puri

Himanshu Mishra — Wed, 16 Feb 2022 13:29:02 +0000

Minister of Petroleum and Natural Gas Hardeep Singh Puri expects to imitate the success of Air India divestment in the much-delayed sale of the state run-oil marketing firm Bharat Petroleum Corporation Ltd (BPCL), the minister told in an exclusive conversation to CNBC-TV18.

The Indian government had ambitious strategies to auction its entire 53% stake in BPCL to private players in 2021-22, but holdups have moved this mark to 2022-23. Potential buyers who demonstrated interest are Anil Agarwal-led Vedanta Group, Apollo Global Management and private equity major I Squared Capital-backed Think Gas– are yet to find supporters to fund the deal.

“BPCL is a first-grade investment and it is looking better by the day. Give me a few months,” Puri said in a response to a question on divestment of the company to CNBC-TV18. Puri, who was previously the minister of civil aviation, said that he was optimistic that like Air India, BPCL will be successfully divested.

Puri said that the EOI (expression of interest) arriving now or later is not the problem government will privatize BPCL. He further asserted that it will be a transaction like Air India, which everyone will applaud as a very good segment of the authorities privatization program.

Puri further said, “I’m very proud of the fact that I had an association with that privatization process. It started after two failed attempts when I became civil aviation minister in 2019. And it was completed just a few weeks or a month after I handed over (the ministry).”

However, it was on January 27, the Tata Group finalized the takeover of Air India, along with Air India Express and a stake in AI-SATS. The government had invited proposals for a 100% stake in the national carrier in March 2020 and the Tata Group appeared as the winner in the proposals in October 2021.

“Privatization of ONGC will not be successful,” says ONGC officer’s union

Ayisha Farah — Sun, 21 Nov 2021 08:19:29 +0000

The petroleum ministry’s plan to sell away ONGC’s biggest oil and gas fields to international firms has met with powerful opposition from the officers association of the company, which has said that the government should allow and give the firm a level-playing field rather than giving away its prime assets to private sectors.

The Association of Scientific & Technical Offices of ONGC requested Oil Minister Hardeep Singh Puri against a motion placed by Amar Nath, additional secretary (exploration) in the Ministry of Petroleum and Natural Gas, for giving away 60 per cent stake and operatorship of Mumbai High and Bassein & Satellite (B&S) offshore assets to foreign partners for increasing output.

The union, which embodies ONGC’s 17,000 officers, said the company and its employees are entirely adjusted with the government goal of boosting domestic production to decrease imports, and for this to occur, ONGC should be given the same fiscal and administrative term as the private sector exercises for examining and manufacturing oil and gas.

The government-dictated under market price gas price fixation for ONGC areas should be evaluated to make a production from smaller and remote fields viable, it addressed to Puri on November 11. Also, ONGC should be given the freedom to market small pools of natural gas, which are unviable in the present price regime.

Sanctioned clearances and authorisations for ONGC need to be optimised, and procedural features rejigged to support the firm take faster decisions. Farming out stake in “existing fields shall not yield the desired results of enhancing domestic production, instead, it will provide a level playing field and empower ONGC to further enhance productivity,” the union wrote.

“We would therefore request you that handing over producing fields on a platter to the private operator will not be successful and therefore, in our opinion, should not be pursued,” it added.

It said research of oil and gas is a perilous endeavour where very few like to participate. “This is evident from the tepid response to the bids invited under OALP (bid rounds), where only ONGC and to some extent OIL are the only bidders.”

Petrol and Diesel prices sets new high mark for 16th time in May

Govindraj Muttepawar — Mon, 31 May 2021 07:03:49 +0000

After a Sunday breather, oil companies continue to increase the prices of petrol and diesel on Monday. In the 16th hike this month, the price of petrol and diesel have reached a new high, going up 29 paise per litre for petrol and diesel by 26 paise a litre.

On Saturday, petrol price had breached the Rs-100 mark in Mumbai for the first time in history. In other cities, like Bhopal and Thane, petrol price had gone past the three-figure mark much earlier. After the hike on Monday, the petrol price in Mumbai will now cost ₹100.47 per litre and diesel will be sold at a rate of ₹92.45 for every litre. In Bhopal, the price of a litre of petrol has gone up to ₹102.34, while diesel will cost ₹93.37.

In other metro cities too, petrol price is not too far away from hitting the three-figure mark. In Delhi, petrol will now cost ₹94.23 per litre while diesel will come at ₹85.15 per litre. In Kolkata, the petrol price has been revised to ₹94.25 for a litre and diesel will cost ₹87.74. May has seen one of the steepest hikes in fuel prices this year. Since May 4, prices have been revised upwards almost every alternate day. In the 16 hikes implemented this month, the price of petrol has gone up by ₹3.83 per litre, while diesel price has seen an overall hike of ₹4.42 per litre.

The recent spate of hikes began after a hiatus in price hike since March 24 this year. Oil companies had stopped revising fuel prices just days before five states went to polls. In fact, between March and May, oil companies reduced the price of petrol and diesel twice, though marginally. Once the poll results were announced, the oil companies have been steadily increasing the price of fuel. Since January, fuel prices had shot up to a record level. There were as many as 26 hikes since the beginning of the year that shot up petrol and diesel prices by more than ₹10 per litre so far.

GAIL bifurcation plan put on hold by Oil ministry

Sarthak Yadav — Thu, 04 Feb 2021 09:35:48 +0000

Gas Authority Of India Ltd. (GAIL) bifurcation plan is put on hold by the Ministry of Petroleum and Natural Gas. The state owned natural gas processing and distribution company was under a plan of divison in two broad sectors but due to financial shortcomings for the massive infrastructure building plan, the hold was initiated.

GAIL is India’s biggest natural gas marketing and trading firm and owns 60% of the country’s 26,284-km gas pipeline network, giving it a stranglehold on the market.

To resolve the issue, it was proposed that GAIL’s pipeline business should be hived off into a separate entity.

A ministry official involved in the decision making process said, “GAIL has massive plans to double its pipeline network to 34,000 km and there is a realisation that its ability to borrow funds to fund these should not be hampered.”

The government’s plan was to divide GAIL into two companies for gas transmission and marketing business and the state run company had entrusted Ernst &Young as a consultant for this. The move was seen as a step to bring more transparency into the country’s gas market.

Creating pipeline infrastructure, which will take the environment friendly fuel to unconnected places in the country, is key to the government objective of making India a gas based economy. The government is targeting raising the share of natural gas in its energy basket to 15% by 2030 from the current 6.2%.

GAIL is said to monetise some of its pipelines by selling a minority stake through instruments like Infrastructure Investment Trust (InvIT).

“The idea is transfer pipelines with steady revenue stream into a trust whose units can be sold to investors and the same can be traded on the stock exchange,” a source revealed, adding GAIL will upfront get money from such a sale that can be used for capital expenditure.

To start with, GAIL plans to monetise Dahej-Uran-Panvel-Dabhol pipeline and Dabhol-Bengaluru pipeline.

GAIL owns and operates a natural gas pipeline network that spans 15,673.3 kilometres, mostly in the western, southern and northern parts of the country. It is building more pipelines in the eastern part of the country. The government has a 54.89% stake in GAIL.

The bifurcation of GAIL was planned to address complaints of natural gas users about not getting fair access to the GAIL pipeline network to transport their fuel.

The conflict arising out of the same entity owning two jobs can be resolved with the setting up of an independent transport system operator (TSO), which will manage the common carrier capacity of GAIL and other pipelines in the country,