Latest News, Updates & Breaking Headlines
The government, on Thursday, moved to reassure citizens that the country’s fuel supply situation remains fully stable. The ministry of petroleum and natural gas said India’s petroleum and LPG systems are secure and under firm control, with no shortage of petrol, diesel or LPG anywhere in the country. It also warned against what it called…
NEW DELHI: PM Narendra Modi on Monday said govt was making all efforts to ensure uninterrupted supply of petrol, diesel, gas and fertilisers, and protect people from hardships amid the ongoing conflict in West Asia and disruption in the Strait of Hormuz.Addressing LS, Modi said steps over the past decade to diversify energy sources, along…
The International Energy Agency (IEA) said on Sunday that strategic oil reserves will be released “immediately” in Asia and Oceania, while supplies from member countries in the Americas and Europe will begin flowing from the end of March, as governments move to cushion the oil shock caused by the ongoing West Asia war.As per news…
India’s foreign exchange reserves declined sharply in the week ended March 6, reversing the previous week’s surge that had taken the country’s forex stockpile to a record high.Data released by the Reserve Bank of India on Friday showed the reserves dropped by $11.683 billion to $716.810 billion, reported PTI. In the preceding reporting week, the…
Japan will release part of its emergency oil reserves to stabilise energy supplies amid rising tensions in the Middle East, Reuters reported. The move will include the release of 15 days worth of oil held by the private sector and one month worth of state oil reserves as authorities attempt to ease supply concerns and…
India will not participate in the International Energy Agency’s (IEA) proposal to release strategic petroleum reserves to stabilise global oil markets, government sources said on Monday, even as crude prices surge amid the escalating Middle East conflict, reported PTI.The decision comes as G7 nations consider coordinated releases of emergency oil reserves to calm markets after…
As the Middle East war continues to cast a shadow over energy supplies, G-7 nations are considering to jointly release strategic oil reserves. According to a report by Financial Times, finance ministers of the Group of Seven are set to discuss a potential joint release of strategic emergency reserves, on Monday, in a bid to…
Estimates from experts on India’s dependency on Middle East and the Strait of Hormuz peg it at 50% of India’s oil imports. (AI image) India is among the top five world economies and its energy security is of paramount importance. The ongoing US-Israel-Iran war has caused disruptions in global oil, gas and trading shipments, especially…
Hardeep Singh Puri chairs meeting with media fraternity and petroleum ministry officials NEW DELHI: Amid concerns over oil supply concerns due to Middle East tensions , union minister of petroleum and natural gas Hardeep Singh Puri, in a meeting with media, assured that India has enough reserves to deal with the situation.“Held a very positive…
Both India and China are big consumers of oil from the Middle East. (AI image) Is India the most vulnerable to prolonged oil supply shocks in wake of the ongoing Middle East tensions post Israel-US strikes on Iran and the latter’s retaliation? India, a fast-growing oil consumer, is the country most vulnerable to crude supply…
