Ministry of Petroleum and Natural Gas withdraws petrol and diesel retail restrictions
OMC retail outlets must lift the 200-litre HSD daily cap and bulk-buyer pump routing from 1 July 2026.
Oil & Gas
168 briefs
OFAC issues Iran General License X authorizing Iranian-origin crude and petroleum sales through 21 Aug 2026
Iranian-origin crude and petroleum transactions are authorised only within General License X conditions and only through 21 August 2026
UK sanctions Russia's shadow fleet, Arctic LNG 2 vessels and a GRU procurement network
UK persons — including maritime insurers, shipping-service providers and bank sanctions and trade-finance teams — must freeze the newly designated vessels, companies and individuals and withhold prohibited services and transactions
UK sets 1 January 2027 end date for the licence allowing Russian-origin diesel and jet fuel via third countries
UK refined-fuel importers must replace the temporary licence for Russian-origin diesel and jet fuel via third countries by 1 January 2027, possibly sooner
OFAC designates Iranian LPG-smuggling network, shadow-fleet vessels, and an Iranian exchange house under E.O. 13902
Sanctions-screening, maritime and commodity-trade compliance teams subject to OFAC jurisdiction must block the newly designated Iranian LPG-smuggling network — its principals, UAE and Chinese front companies, an Iranian exchange house and six IMO-listed LPG tankers — and apply the added FTO designation to the Brazilian groups Comando Vermelho and PCC.
Central Government notifies export levies on petrol, diesel and ATF for fortnight beginning 1 June 2026
Exporters of petrol, diesel and ATF must apply notified per-litre SAED rates on all export shipments from 1 June 2026 — rates are fortnightly and will be revised around 15 June 2026.
US OFAC licence cover expires for Russian oil cargoes loaded on or before 17 April
Oil traders and vessel-service teams lose OFAC licence cover after 16 May
OFAC adds Iraq-linked individuals and oil-service firms to SDN List
Sanctions teams must screen new SDNs, aliases and Linked To relationships
The Guardian
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Norway opens 70 offshore oil-and-gas exploration areas
Offshore licensing teams must file by 1 September to compete for Norwegian acreage
The Hindu
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OPEC+ raises June oil output quotas by 188,000 barrels per day
Trading desks must reprice June term contracts against the new OPEC+ quota
Economic Times
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India bars PNG-connected households from domestic LPG refills
LPG distributors must block domestic refills for PNG-linked accounts
OFAC issues GL 131E for Lukoil contract negotiations
Sanctions teams may negotiate defined Lukoil sale contracts under GL 131E only