
Indian Oil Corporation Ltd (IOCL) has reassured the public that fuel supply in India remains stable despite a deepening global energy crisis triggered by geopolitical tensions in West Asia. The state-run oil major shared visual evidence from its COCO outlet in Mumbai's BKC area during peak morning hours on Friday, showing normal operations with steady vehicle flow without panic buying or disruptions. As per The Hindu BusinessLine, IOCL posted on its X account: "Normal day. Normal supply. Normal operations. While the world faces its worst energy crisis in modern history -- this is what an IndianOil fuel station looks like today. COCO BKC, Mumbai Shot at 10 AM -- peak morning hours. No panic. No rush. Just business as usual." The visual evidence showcases strategic planning behind India's energy infrastructure and aims to reassure the public that the country's fuel security is well-managed and robust.
India's city gas distribution (CGD) sector may see daily sales volumes decline by 8-10% as supply disruptions linked to the ongoing West Asia conflict tighten natural gas availability, according to Crisil Ratings Ltd. The moderation in volumes is expected to persist in the near term until the geopolitical situation stabilises. India's CGD industry relies on domestic natural gas for about 60% of its requirement, while imports of liquefied natural gas account for the remaining 40%. Supply disruptions have intensified after QatarEnergy declared force majeure on international deliveries following production disruptions at its Ras Laffan facility, triggering ripple effects across the Indian gas value chain. The sector comprises three key segments — compressed natural gas (CNG), piped natural gas for households (PNG-D) and piped natural gas for industrial and commercial users (PNG I&C). CNG and PNG-D together account for nearly 70% of the industry's sales volume and are expected to be the least affected as their gas supply largely comes from domestic sources, while the PNG I&C segment, which contributes roughly 30% of total volumes, is expected to be hit the most due to its heavier dependence on imported LNG.
Adani Total Gas shares have surged more than 40% in recent sessions, recovering strongly from its recent low of ₹462.80 (52-week low) recorded on March 9. The stock climbed 6% during Thursday's session to touch an intraday high of ₹644.85, compared with the previous close of ₹607.60, according to The Hindu BusinessLine. The stock has shown exceptional short-term momentum with gains of 30.23% in the past week, 22.10% in two weeks, and 17.56% in a month, though longer-term performance remains weak with the stock still down 34% over three years and 15.58% in the last five years. The stock has recovered from its year-low levels soon after the LPG crisis in the country, with the company's market capitalisation standing at ₹68,292.71 crore as of March 12.
The rally is supported by the government's aggressive measures to secure domestic gas supplies and boost LPG output amid Middle East conflict disruptions. India's LPG production has increased by 25% following several government measures aimed at boosting domestic supply for household consumers. On March 8, 2026, the government issued an order directing refineries and petrochemical complexes to maximise LPG production by diverting streams of propane, butane, propylene and butenes to the LPG pool, as confirmed by Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas. Additionally, on March 9, the Ministry issued orders to oil refineries for higher LPG production and using such extra production for domestic LPG use. The ministry has prioritised domestic LPG supply to households and introduced a 25-day inter-booking period to avoid hoarding/black marketing.
The government has issued the Natural Gas (Supply Regulation) Order, 2026 which seeks to prioritise gas allocation to essential sectors amid supply disruptions triggered by the ongoing conflict in the Middle East. According to the government notification, natural gas supply will be prioritised for domestic piped natural gas consumers and compressed natural gas used in transport. Allocations will be maintained at 100% of the average consumption over the past six months, subject to operational availability. The company stated that "The Company appreciates the Government's prompt efforts in bringing out the said Order and according priority for the gas supplies to Domestic PNG and CNG customers, as well as supply of PNG to Industrial and Commercial Customers." The government order also directed all entities involved in natural gas production, import, marketing, transportation, and supply to comply with revised supply schedules and sector-wise allocations coordinated through GAIL (India) Limited and the Petroleum Planning and Analysis Cell.
Adani Total Gas Ltd announced that some of its gas suppliers have curtailed supplies amid escalating geopolitical tensions in West Asia, affecting the company's ability to serve certain industrial customers. In an exchange filing on March 11, the company disclosed that "in view of recent escalation of geopolitical developments in the Middle East region, some of the gas suppliers of the Company have curtailed the gas supply which in turn has impacted our supplies to industrial customers." The Mahanagar Gas announcement confirms that the curtailment follows the Ministry of Petroleum and Natural Gas' Natural Gas (Supply Regulation) Order, 2026 dated March 9, which prioritises natural gas supply to domestic piped natural gas (DPNG) and compressed natural gas (CNG) segments and advises companies to reduce supplies to industrial and commercial users. As supplies tighten, industrial consumers are facing shortages, with several ceramics manufacturers already reporting cutbacks.
PG Electroplast shares fell up to 14% in five days after the company's management acknowledged that production operations have been significantly impacted due to the shortage of gas supply owing to the US-Iran war. In an interaction with CNBC-TV18, Vikas Gupta, the Managing Director of operations at PG Electroplast, said that one week of production has been lost across the company's AC manufacturing plants due to the gas shortage. Gupta went on to add that the company's financial year 2026 revenue guidance may be affected due to this shortage of gas supply, although he did not specify by how much. The US-Iran war in West Asia has impacted gas production operations in Qatar, one of the biggest LNG producers in the world, forcing it to declare a Force Majeure to its clients. Gupta noted that LPG is used in plants for bracing and welding of Copper tubes and that the company is exploring alternatives to LPG, while also expressing concern about polymer availability and a 40% to 50% surge in prices.