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New Delhi: India’s total demand for petroleum products is projected to grow at a compound annual growth rate (CAGR) of 5.37 per cent from 2025 to 2030, with diesel, petrol, aviation turbine fuel (ATF), and petroleum coke expected to drive the surge, according to a sectoral report by the PHD Chamber of Commerce and Industry.In FY24, India consumed approximately 233 million metric tonnes (MMT) of petroleum products. Diesel alone accounted for nearly 40 per cent of the total, followed by petrol at 15–16 per cent, LPG at 12–13 per cent, petroleum coke at 10–12 per cent, and aviation turbine fuel…

New Delhi: The government on Monday fixed the price of domestic natural gas at $6.89 per million British thermal units (mmBtu) on gross calorific value (GCV) basis for the month of July 2025, according to a notification issued by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas.The pricing has been determined in accordance with the MoPNG Notification No. L-12015/1/2022-GP-II dated April 7, 2023, which prescribes the procedure for revision of domestic gas prices.As per Paragraph 4 of the same notification, the gas produced by ONGC and OIL from their nomination fields will be…

PHILADELPHIA (AP) — Nearly 10,000 city workers in Philadelphia who collect trash, answer 911 calls, maintain city pools and perform other jobs went on strike Tuesday after contract negotiations broke down.District Council 33 President Greg Boulware said the city hadn’t agreed to a high enough wage increase, WPVI-TV reported.Mayor Cherelle Parker said the city would suspend residential trash collection, close some city pools and shorten recreation center hours, but vowed to keep the city running. Police and firefighters are not on strike.Parker, a pro-labor Democrat, promised that Fourth of July celebrations in the nation’s birthplace would go on as usual.…

Pictured above: the U.S. Strategic Petroleum Reserve (Bloomberg) — Total U.S. liquids production eked out a record-high of 20.83 million barrels a day (bpd) in April, up roughly 50,000 barrels from the previous month, according to the U.S. Energy Information Administration’s latest Petroleum Supply Monthly report released on Monday.  The number, which includes crude oil and natural gas liquids, came in roughly 340,000 barrels higher than a previous estimate for the month of April. U.S. diesel demand, a closely watched measure of the country’s economic health, was higher in April than early weekly estimates, the EIA also noted…

(Bloomberg) – Argentina must give up its controlling stake in signature energy company YPF SA within two weeks after a New York judge sided with litigators in a $16 billion judgment, delivering a setback to President Javier Milei’s economic momentum before crucial midterm elections. A drilling rig shown in the Vaca Muerta shale region of Argentina. Image: YPF Judge Loretta Preska gave Milei’s government 14 days to surrender 51% of the company’s shares to a global custody account, from which they’ll be transferred to plaintiffs—former shareholders suing Argentina over its 2012 nationalization of YPF. Argentina’s Economy Ministry and…

A full-blown courtroom drama — complete with a gavel-wielding judge and an attentive jury, played out in London’s King’s Cross on Monday, mere steps away from Google DeepMind’s headquarters.Google was on trial for allegations of breaking its promises on AI safety.The participants of this faux-production were protesters from PauseAI, an activist group concerned that tech companies are racing into AI with little regard for safety. On Monday, the group congregated near King’s Cross station to demand that Google be more transparent about the safety checks it’s running on its most cutting-edge AI models. Protesters pose outside Google DeepMind’s office. Hugh…

Elon Musk ramped up his fight against President Donald Trump’s Big Beautiful Bill on Monday, vowing to form a new political party if it passes Congress.”If this insane spending bill passes, the America Party will be formed the next day,” Musk said in a post on X. “Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE.”Earlier Monday, Musk vowed to defeat politicians who support Trump’s bill, saying, “They will lose their primary next year if it is the last thing I do on this Earth.”When reached for comment, the White House referred…

Diplomatic tensions remain unresolved, sanctions are tightening and Iran’s rhetoric hasn’t softened. Trump’s SPR Refill Could Reset the Price Floor During his January 2025 inaugural address, President Trump vowed to “refill the Strategic Petroleum Reserve (SPR) right to the top.” Now with the SPR sitting at 346.8 million barrels – the lowest since 1983, and Oil trading back at multi-year lows – Trump has a unique opportunity to buy cheap Oil – and markets know it. Historically, large-scale SPR refills have coincided with massive rallies. In 2009, the SPR refill coincided with a 53% rally in Oil over 6 months.…

Pictured above: the U.S. Strategic Petroleum Reserve (Bloomberg) — Total U.S. liquids production eked out a record-high of 20.83 million barrels a day (bpd) in April, up roughly 50,000 barrels from the previous month, according to the U.S. Energy Information Administration’s latest Petroleum Supply Monthly report released on Monday.  The number, which includes crude oil and natural gas liquids, came in roughly 340,000 barrels higher than a previous estimate for the month of April. U.S. diesel demand, a closely watched measure of the country’s economic health, was higher in April than early weekly estimates, the EIA also noted…