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Time of India
6 hours ago
- Business
- Time of India
Indian oil & gas sector to witness strong growth despite global volatility
New Delhi: The Indian oil and gas sector is likely to see strong growth through the fiscal year 2026 and 2027, despite significant volatility faced by the oil and gas market last month, said a research note by Systematix Institutional Equities. India's oil & gas sector covered companies are likely to deliver average sales, EBITDA, and PAT growth of 6 per cent, 12.9 per cent, and 13.3 per cent year-on-year for FY26E, and 7.8 per cent, 9 per cent, and 10.1 per cent year-on-year for FY27E, respectively. Systematix suggests that top investment picks include Reliance Industries Ltd (RIL), GAIL India Ltd (GAIL), Mahanagar Gas Ltd (MGL), and Gulf Oil Lubricants India Ltd (GOLI). According to the research, the market suffered from significant volatility with declining crude prices countered by a robust rebound in refining margins. Last month, Brent crude prices fell by 22.9 per cent year-on-year and 3.8 per cent month-on-month in May 2025, influenced by increased OPEC supply from nations like Saudi Arabia and the UAE. Additionally, Global liquid demand also saw a sharp drop before a slight recovery. The lower crude prices contributed to a decline in US rig counts, reflecting cautious upstream investment. Contrary to this, the benchmark Gross Refining Margin (GRM) of companies surged by 85 per cent month-on-month and 121 per cent year-on-year, averaging $6.4/bbl. This significant improvement stemmed from lower crude input costs and enhanced product cracks across gasoline, gasoil, jet, kero, and naphtha segments, all showing strong month-on-month improvements. Furthermore, Natural gas prices presented mixed trends. Henry Hub prices in the US corrected sharply by 31.8 per cent since January 2025 due to oversupply and mild weather. Conversely, Asian spot LNG (Japan Korea Marker) prices rose 6.7 per cent year-on-year to $11.9/mmbtu, driven by regional demand. In the fourth quarter of FY25, the aggregate earnings for the oil and gas sector saw a slight year-on-year decline but a sequential increase, with gas and City Gas Distribution (CGD) companies generally reporting revenues above estimates. While EBITDA/scm for CGD companies declined year-on-year, they showed sequential rebounds driven by price hikes and favourable gas price mix.
Yahoo
21-04-2025
- Business
- Yahoo
ADNOC secures two LNG deals with Chinese firms
Abu Dhabi National Oil Company (ADNOC) has entered into long-term agreements to supply liquefied natural gas (LNG) to China's ENN Natural Gas and Zhenhua Oil. ENN Natural Gas announced via WeChat that its 15-year contract with ADNOC is set to provide approximately one million metric tonnes (Mt) of LNG annually. Reuters reported ENN's statement on its official WeChat as saying: "The deal marks a key step for ENN towards enhancing a stable energy supply chain and diversifying supplies." ENN Natural Gas, which is listed in Shanghai and holds a 34.28% stake in ENN Energy, is also looking to acquire the remaining shares of the clean energy distributor for about $7.65bn. In a separate development, state-owned Zhenhua Oil has secured a five-year agreement with ADNOC, commencing in 2026. The contract stipulates the delivery of up to 12 LNG cargoes per year. According to a Chinese industry insider, the LNG pricing will be on a delivered basis to Rudong in Jiangsu province, with some shipments aimed to the Japan Korea Marker and others linked to Brent oil prices. Zhenhua Oil, which is already collaborating with ADNOC in Abu Dhabi, is in the process of establishing its inaugural LNG terminal in Rudong, with operations expected to start in the first quarter of 2026. ADNOC's CEO, Sultan Al Jaber, was present for the inauguration of the company's new Beijing office last Friday. Also, this month, ADNOC Drilling secured a $1.63bn contract from ADNOC Offshore for a range of integrated drilling services over five years, targeting enhanced efficiency in offshore extended reach and maximum reservoir wells. "ADNOC secures two LNG deals with Chinese firms" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
21-04-2025
- Business
- Zawya
China's ENN, Zhenhua Oil agree LNG deals with ADNOC
China's privately controlled ENN Natural Gas and state-run Zhenhua Oil have each signed a term deal to buy liquefied natural gas from Abu Dhabi National Oil Company (ADNOC). ENN Natural Gas said on its official WeChat account on Saturday that the deal covers annual supplies of about one million metric tons for 15 years, marking ADNOC's largest LNG contract with a Chinese buyer. "The deal marks a key step for ENN towards enhancing a stable energy supply chain and diversifying supplies," ENN said. Shanghai-listed ENN Natural Gas, which currently holds a 34.28% stake in Hong Kong-listed ENN Energy, is proposing to buy out the rest of the clean energy distributor for roughly $7.65 billion. Separately, state oil and gas trader Zhenhua Oil agreed a 5-year deal with ADNOC starting in 2026 for up to 12 cargoes a year, said a Chinese industry source with direct knowledge of the agreement. Under Zhenhua's first long-term LNG contract, pricing is on a delivered basis into Rudong in east China's Jiangsu province, with some shipments benchmarked to the Japan Korea Marker and others to Brent oil, said the source, who declined to be named as he is not authorised to speak to the media. Zhenhua Oil, which already partners with ADNOC in Abu Dhabi, is building its first LNG terminal in Rudong, with commissioning expected in the first quarter of 2026. ADNOC CEO Sultan Al Jaber attended the opening of the company's new Beijing office on Friday, according to the industry source, who attended the ceremony, and a report by Dubai-based China-Arab TV. Without giving further details, the report said ADNOC signed three LNG supply deals with Chinese partners during Al Jaber's visit. Zhenhua Oil and ADNOC were not immediately available for comment over the weekend.
Reuters
21-04-2025
- Business
- Reuters
China's ENN, Zhenhua Oil agree LNG deals with ADNOC
April 19 (Reuters) - China's privately controlled ENN Natural Gas ( opens new tab and state-run Zhenhua Oil have each signed a term deal to buy liquefied natural gas from Abu Dhabi National Oil Company (ADNOC). ENN Natural Gas said on its official WeChat account on Saturday that the deal covers annual supplies of about one million metric tons for 15 years, marking ADNOC's largest LNG contract with a Chinese buyer. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. "The deal marks a key step for ENN towards enhancing a stable energy supply chain and diversifying supplies," ENN said. Shanghai-listed ENN Natural Gas, which currently holds a 34.28% stake in Hong Kong-listed ENN Energy ( opens new tab, is proposing to buy out the rest of the clean energy distributor for roughly $7.65 billion. Separately, state oil and gas trader Zhenhua Oil agreed a 5-year deal with ADNOC starting in 2026 for up to 12 cargoes a year, said a Chinese industry source with direct knowledge of the agreement. Under Zhenhua's first long-term LNG contract, pricing is on a delivered basis into Rudong in east China's Jiangsu province, with some shipments benchmarked to the Japan Korea Marker and others to Brent oil, said the source, who declined to be named as he is not authorised to speak to the media. Zhenhua Oil, which already partners with ADNOC in Abu Dhabi, is building its first LNG terminal in Rudong, with commissioning expected in the first quarter of 2026. ADNOC CEO Sultan Al Jaber attended the opening of the company's new Beijing office on Friday, according to the industry source, who attended the ceremony, and a report by Dubai-based China-Arab TV. Without giving further details, the report said ADNOC signed three LNG supply deals with Chinese partners during Al Jaber's visit. Zhenhua Oil and ADNOC were not immediately available for comment over the weekend.
Al Arabiya
19-04-2025
- Business
- Al Arabiya
China's ENN, Zhenhua Oil agree LNG deals with ADNOC
China's privately controlled ENN Natural Gas and state-run Zhenhua Oil have each signed a term deal to buy liquefied natural gas from Abu Dhabi National Oil Company (ADNOC). ENN Natural Gas said on its official WeChat account on Saturday that the deal covers annual supplies of about one million metric tons for 15 years, marking ADNOC's largest LNG contract with a Chinese buyer. 'The deal marks a key step for ENN towards enhancing a stable energy supply chain and diversifying supplies,' ENN said. Shanghai-listed ENN Natural Gas, which currently holds a 34.28 percent stake in Hong Kong-listed ENN Energy, is proposing to buy out the rest of the clean energy distributor for roughly $7.65 billion. Separately, state oil and gas trader Zhenhua Oil agreed a 5-year deal with ADNOC starting in 2026 for up to 12 cargoes a year, said a Chinese industry source with direct knowledge of the agreement. Under Zhenhua's first long-term LNG contract, pricing is on a delivered basis into Rudong in east China's Jiangsu province, with some shipments benchmarked to the Japan Korea Marker and others to Brent oil, said the source, who declined to be named as he is not authorized to speak to the media. Zhenhua Oil, which already partners with ADNOC in Abu Dhabi, is building its first LNG terminal in Rudong, with commissioning expected in the first quarter of 2026. ADNOC CEO Sultan Al Jaber attended the opening of the company's new Beijing office on Friday, according to the industry source, who attended the ceremony, and a report by Dubai-based China-Arab TV. Without giving further details, the report said ADNOC signed three LNG supply deals with Chinese partners during Al Jaber's visit.
