India’s crude oil imports from Russia surged in March, with purchases tripling to €5.3 billion as volumes doubled and prices rose, according to Centre for Research on Energy and Clean Air. The spike followed a US sanctions waiver, prompting state refiners to resume buying. Russia remained India’s top supplier, while China led overall purchases. Asian…
The government is taking strong measures to address the LPG shortage and ensure fuel stability. Raids are underway to stop black-marketing, with over 2,950 conducted recently. New PNG connections are expanding, and efforts are made to increase supply of smaller cylinders. Domestic fuel prices are being managed. Repatriation of seafarers and travel for Indian nationals…
Ukraine’s drone strikes on key Russian oil ports — Primorsk, Ust-Luga and Novorossiysk — are threatening India’s crude supply chain, with the International Energy Agency warning of potential disruptions to refining operations. With about 80% of India’s Russian imports routed through these hubs, any prolonged outage could tighten feedstock availability, even as reliance on discounted…
India’s oil security framework has come under renewed scrutiny following the escalation of tensions in West Asia in 2026, which disrupted global energy markets and exposed vulnerabilities in the country’s import-dependent energy system, according to a report by Carnegie India.
A US-led naval blockade on Iran has sharply escalated tensions around the Strait of Hormuz, threatening global oil flows, trade routes and geopolitical stability. Oil prices have surged past $100 as shipping risks, insurance costs and supply disruptions ripple across markets. While enforcement remains complex and legally contested, the bigger risk lies in escalation and…
State-owned fuel retailers IOC, BPCL and HPCL face widening losses of Rs 18 per litre on petrol and Rs 35 on diesel as prices remain frozen since April 2022. Rising global crude costs, despite excise cuts, have eroded gains, with analysts warning of possible price hikes after state elections.
HSBC Chair Brendan Nelson stated that a Middle East peace deal is crucial for restoring global energy flows and mitigating inflation risks. Speaking at an investment summit, Nelson indicated that persistent uncertainty will keep energy prices elevated, impacting the global economy.
A US naval blockade of Iranian ports, following failed ceasefire talks, has increased uncertainty over energy cargo movements and the risk of stranded supplies. This escalation is expected to further squeeze global supply and drive oil prices higher, impacting India’s significant crude and LPG imports from Iran.
Indian ports have received two large crude carriers loaded with Iranian oil. This marks the first purchase from Iran in seven years, enabled by a temporary US waiver. The waiver expires soon. Indian Oil Corp and Reliance Industries are among the refiners taking advantage of this opportunity.
India’s state-run Hindustan Petroleum Corp is seeking a liquefied petroleum gas tanker. The vessel will load propane and butane from Russia’s Ust-Luga port. This move aims to secure cooking gas supplies amid a severe shortage. India is diversifying its LPG sources due to disruptions in the Middle East.