Indian Economy Archives - Newscript EnergyWorld

By Newscript News Network August 22, 2025 Oil and Natural Gas Corporation (ONGC) began FY26 with strong operational momentum. Consolidated net profit rose 18.2% to ₹11,554 crore, backed by a high-intensity drilling programme—578 wells in FY25, the most in 35 years—yielding nine new hydrocarbon discoveries across Mumbai Offshore, the Krishna-Godavari basin, and onshore plays. Output nudged higher: standalone crude oil rose 1.2% to 4.683 MMT, while gas held at 4.846 BCM. Near-term monetisation levers are already in play. The PY-3 joint venture field has restarted production and CBM Bokaro’s North Karanpura block began gas sales in May 2025, contributing more than ₹1,700 crore in revenue at a premium $8.26/mmbtu—~20% above APM. Diversification continues with a ₹39.42 crore helium re...

India’s finance ministry is weighing a cut in Goods and Services Tax (GST) on small cars and insurance premiums, in a move aimed at boosting consumption but with complex knock-on effects for energy demand. Officials said the proposal reflects an attempt to revive auto sales, which remain subdued compared with pre-pandemic levels. If implemented, the measure could encourage middle-class buyers to bring forward purchases, bolstering an industry that employs millions. Yet energy economists caution that stimulating car sales could add to India’s already steep fuel demand trajectory. Road transport accounts for nearly 40 per cent of petroleum product consumption, and any surge in vehicle numbers would deepen the country’s reliance on imported crude. Insurers, meanwhile, are lobbying fo...

Tag: Indian Economy

ONGC Q1 Profit Rises 18% as 35-Year Drilling High Unlocks New Finds

GST Reform Debate Puts Auto Demand in Focus