IndianOil eyes investment in Tanzania’s petroleum and LPG sector
Indian Oil Corporation Limited, India’s state-owned oil company, has expressed interest in investing in Tanzania’s oil sector, aiming to boost energy supply and support economic growth, Daily News reported. Suman Kumar, Director for Planning and Business at Indian Oil, said Tanzania’s growing economy, expanding population, and rapid urbanisation are driving increased demand for petroleum products, liquefied petroleum gas (LPG), and other energy services, presenting significant market opportunities. Makamba welcomed the interest from foreign investors and said Tanzania is open to international partnerships in the petroleum and LPG sector. She urged companies to set up local operations and join joint fuel procurement initiatives to boost competition and secure a stable, affordable fuel supply. Tanzania’s energy sector has been actively developing infrastructure to meet growing fuel and LPG demand. As bne IntelliNews reported, the Petroleum Bulk Procurement Agency (PBPA) began upgrading seaport infrastructure, pipelines, and storage facilities in August 2025 to facilitate LPG imports under the national Bulk Procurement System. According to the Energy and Water Utilities Regulatory Authority (EWURA), LPG imports rose by 16% in 2022/23 to 293,167 tonnes, underscoring the rising demand.
MNRE allocation jumps 24%, Budget sharpens India’s clean-energy push
India’s clean energy transition received one of its strongest fiscal endorsements yet in the Union Budget 2026–27, with a sharp rise in allocations for the Ministry of New and Renewable Energy (MNRE) signalling a renewed push on scale, manufacturing depth and energy security. The MNRE’s outlay rises to ₹329.1467 billion in 2026–27, up from ₹265.4938 billion in 2025–26—a nearly 24% increase—underscoring the government’s intent to accelerate solar deployment, domestic manufacturing and grid-linked pathways.
GAIL, “K” LINE and J M Baxi Sign Term Sheet to Take Equity Stake in Singapore-Based LNG Shipping Company
GAIL (India) Limited, Kawasaki Kisen Kaisha, Ltd (“K” LINE) and J M Baxi Marine Services have signed a term sheet for equity participation in a ship-owning company established in Singapore. The term sheet was signed in the presence of Hardeep Singh Puri, Hon’ble Minister for Petroleum and Natural Gas, Government of India. Under the proposed arrangement, GAIL will invest in the ship-owning company through its wholly owned subsidiary, GAIL Global IFSC Limited, registered in GIFT City, Gujarat. The investment is subject to approval from DIPAM. Alongside the equity participation, GAIL has also entered into a long-term charter agreement with the ship-owning company, with operations scheduled to begin from 2027. The LNG vessel for this partnership is currently under construction at a shipyard in Korea. Sandeep Kumar Gupta, Chairman and Managing Director of GAIL, said that the move reflects a planned approach to align long-term shipping availability with India’s expanding LNG requirements. He noted that equity ownership in a shipping company, while also being the charterer, ensures closer alignment of operational and commercial interests. He added that this investment will give GAIL ownership participation in two LNG vessels through partnerships with established Japanese companies and supports the national objective of expanding Indian ownership in critical maritime assets in line with the Hon’ble Prime Minister’s vision of “Aatmanirbhar Bharat” in the shipping sector.
Rising oil, gas, and LNG demand pulls global commodity traders to India
The rare combination of rising fuel demand and expanding refining capacity is drawing global commodity traders to India, with firms such as Trafigura seeking long-term partnerships with state oil companies. As consumption growth slows in most major economies, trading firm executives told the India Energy Week conference that they see opportunities across crude, refined fuels and liquefied natural gas (LNG). “We see massive opportunities in India,” said Sachin Gupta, chief executive of Trafigura India, pointing to strong demand for diesel, gasoline and liquefied petroleum gas and adding that India would be buying “a lot” of liquefied natural gas. Gupta expects Indian oil demand to reach closer to 9 million barrels per day by 2050, from about 5 million barrels per day currently. Friday, Trafigura said it signed a “landmark crude supply agreement” with Bharat Petroleum Corp to supply Iraqi Basrah and Omani crude to the Indian state refiner. BPCL also signed a term agreement with TotalEnergies for the procurement of UAE crude.