India struggles to expand its upstream
The Indian government is hoping that new regulations will encourage investment in the upstream oil and gas sector to offset rising imports
Shashi Shanker, the chairman of India's state-owned Oil and Natural Gas Corporation (ONGC), says his firm is investing Rs 920bn ($14.15bn) in 35 major projects, including 14 to bring new finds to production and six to improve recovery from ageing fields. ONGC also plans to almost double its natural gas production within five years. But it has some significant hurdles to overcome. ONGC is the country's biggest gas producer, accounting for nearly 80% of the 70m cubic metres a day current output, and almost 70% of oil production coming from mature fields. The state company had targeted output of 22.73m tonnes (179.57m barrels) of crude oil in 2015-16, but managed only 22.37m. The company's oil
Also in this section
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
