Weekly Oil & Gas Briefing: India, Middle East, and U.S.
The global oil and gas industry witnessed several important announcements this week, with governments and corporations making clear their strategies for sustainability, energy security, and pricing stability. India reported progress on cleaner fuels and domestic exploration. Saudi Aramco confirmed a landmark funding transaction to advance its unconventional gas portfolio. Meanwhile, in the United States, the Energy Information Administration released its updated projections for crude oil, fuel prices, and natural gas market dynamics.
India
IndianOil achieves a sustainability milestone
On August 13, 2025, IndianOil’s Panipat Refinery became the first in India to receive ISCC CORSIA certification. This recognition confirms compliance with international standards for sustainable aviation fuels. The achievement is a significant step for India’s energy transition, as it strengthens the supply base for bio-based jet fuels and highlights IndianOil’s commitment to reducing emissions across the refining sector.
Government approves LPG compensation package
On August 8, 2025, the Union Cabinet approved a compensation package worth ₹30,000 crore for Public Sector Oil Marketing Companies. The package is designed to offset losses incurred from subsidized domestic LPG sales. This decision ensures the financial stability of the companies supplying essential cooking fuel to millions of households and reinforces the government’s commitment to affordable energy access.
Prime Minister announces new deepwater exploration mission
In his Independence Day speech on August 15, 2025, Prime Minister Narendra Modi announced the launch of a deepwater exploration initiative aimed at tapping India’s hydrocarbon reserves. The initiative represents a strategic move to increase domestic oil and gas production and reduce import dependence. By encouraging exploration in offshore basins, India seeks to strengthen long-term energy security.
Middle East / Global
Saudi Aramco closes $11 billion Jafurah deal
On August 14, 2025, Saudi Aramco finalized a lease-and-leaseback agreement valued at $11 billion with a consortium led by Global Infrastructure Partners, part of BlackRock. The transaction covers midstream facilities linked to the Jafurah unconventional gas field. While Aramco receives upfront capital, it retains majority ownership and operational control of the assets. This agreement provides financial flexibility and underpins Aramco’s plan to expand gas production by 2030, securing energy for domestic and export markets.
United States
EIA forecasts lower oil and fuel prices
In its August 12, 2025 Short-Term Energy Outlook, the U.S. Energy Information Administration projected a decline in crude oil benchmarks and refined fuel prices. Brent crude is expected to average below $60 per barrel in late 2025 and approach $50 in 2026. Retail gasoline is forecast to remain around $2.90 per gallon, while diesel prices are projected to stay under $3.50 per gallon in 2026. These forecasts reflect expectations of rising supply and easing production restraints from OPEC+.
EIA publishes Natural Gas Weekly Update
On August 14, 2025, the EIA issued its weekly update on the U.S. natural gas sector. The report covered spot prices, LNG export flows, domestic demand, rig activity, and storage levels. These weekly insights continue to serve as a key reference for market participants monitoring short-term trends in natural gas availability and pricing.
Consolidated Oil and Gas Weekly Table
| Region | Organization / Entity | Latest Official Announcement |
|---|---|---|
| India | IndianOil (Panipat Refinery) | Received first ISCC CORSIA sustainability certification (Aug 13, 2025) |
| Government of India | Approved ₹30,000 crore LPG subsidy compensation (Aug 8, 2025) | |
| Prime Minister’s Office | Announced deepwater hydrocarbon exploration mission (Aug 15, 2025) | |
| Middle East / Global | Saudi Aramco | Signed $11 billion Jafurah lease-and-leaseback deal (Aug 14, 2025) |
| U.S. | EIA | Released oil & fuel price forecasts for 2025–26 (Aug 12, 2025) |
| EIA | Published latest Natural Gas Weekly Update (Aug 14, 2025) |
FAQ on Oil and Gas Weekly Digest
Q1: What is the importance of IndianOil’s ISCC CORSIA certification?
It is the first such certification in India, confirming that IndianOil can produce sustainable aviation fuel that meets international standards, helping both airlines and regulators move closer to carbon reduction targets.
Q2: Why did the government approve ₹30,000 crore for LPG compensation?
The compensation ensures that Public Sector Oil Marketing Companies remain financially viable while continuing to provide subsidized LPG to households across India.
Q3: What is the aim of India’s new deepwater exploration mission?
The mission seeks to unlock offshore hydrocarbon reserves, boost domestic output, and reduce dependence on imported crude oil and natural gas.
Q4: What does Saudi Aramco gain from the Jafurah midstream deal?
Aramco secures $11 billion in upfront funding while retaining control over the assets, providing liquidity for expansion while safeguarding operational authority.
Q5: What did the U.S. EIA project in its latest outlook?
The EIA expects oil prices to soften further through 2025 and 2026, while gasoline and diesel prices will remain lower than the previous year. The agency also anticipates record production levels and steady growth in natural gas supply.
Venkat