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NEW DELHI: With nearly 40% of India’s LNG flow hit due to the West Asia conflict, govt is working on an “optimisation plan” for industries, including priority segments such as fertiliser. Those familiar with the discussions said the petroleum ministry could work out the arrangement as early as Tuesday, with a reduction in supply to…
MUMBAI: A shortage of LPG cooking gas has erupted citywide as a ripple effect of the US-Israel attack on Iran. Disruption in LPG supply has caused delays. Waiting time after booking a refill ranges from two to eight days.The supply of commercial cylinders used by hotels and restaurants has been completely halted, say dealers. Eateries…
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…
As the Middle East conflict continues to escalate, India is rerouting its crude supply chains to secure uninterrupted fuel imports. Indian refiners are securing additional crude oil from the United States, Russia, and West Africa to maintain adequate supplies if the Middle East conflict stretches on for long, industry officials and analysts said. Refineries that…
Indian refiners are currently paying a premium of $2 to $4 per barrel above Dated Brent for deliveries of Russia’s benchmark Urals crude. (AI image) In a quick and immediate fix to the Middle East oil supply shock, Indian refiners have begun purchasing readily available Russian crude oil. With ships and tankers currently not moving…
Photo credit: X/ @HardeepSPuri NEW DELHI: Union minister for petroleum and natural gas, Hardeep Singh Puri, on Friday sought to allay public concerns about energy availability, stating that there is “no shortage of energy in India” and no reason for consumers to worry amid ongoing geopolitical tensions in West Asia. In a post on X,…
NEW DELHI: India may face serious disruptions in supply of fertilisers and raw materials in the next kharif season — starting in June — if the blockade of the Strait of Hormuz continues due to the conflict in West Asia, industry insiders said. They added that there is no immediate crisis because it is a…
As tensions continue to heat up in the Middle East, concerns are raising about disruptions to one of the world’s most critical energy shipping routes, the Strait of Hormuz. Any disruption could significantly affect major oil-importing countries such as India, as the narrow Strait of Hormuz is central to global energy trade. The strait sees…
Venezuela’s acting President Delcy Rodriguez, right, and US Interior Secretary Doug Burgum after a meeting at Miraflores presidential palace in Caracas, Venezuela (AP) Venezuela’s state-owned mining company has signed a multimillion-dollar agreement to sell up to 1,000 kilograms of gold destined for US markets.The agreement requires state-owned company Minerven to supply between 650 and 1,000…
India has sought to buy Russian crude to avoid supply shortages as Middle East tensions show no sign of abating. (AI image) India is back to stepping up purchases of Russian crude as the ongoing US-Israel-Iran war blocks Strait of Hormuz and crucial oil supplies from the Middle East, according to reports. India imports nearly…
