India faces energy security challenges due to global conflicts. ONGC Chairman Arun Kumar Singh advises caution on Middle East oil reliance. He stresses building strategic storages and increasing domestic production as vital. Diversifying energy sources and supply chains is also recommended. India has improved its LPG supply. Prioritizing piped natural gas for households is suggested.
During his recent trip to Doha, Union Minister Hardeep Singh Puri held important discussions with key Qatari officials, centering on energy collaborations and the enhancement of bilateral relations. He relayed heartfelt greetings from Prime Minister Narendra Modi, with both parties expressing aspirations for regional harmony and the continuity of maritime commerce.
State-run Coal India is absorbing significant increases in input costs. This move aims to protect consumers from higher coal prices. The company is not passing on the rising costs of explosives and industrial diesel. This ensures power and industrial costs remain stable. Coal India is also compensating contractors for higher diesel prices. This keeps production…
Jio-BP, a fuel joint venture, will not increase petrol and diesel prices now. This decision comes despite a surge in international oil costs. Other private retailers like Nayara Energy and Shell India have raised their prices. Jio-BP attributes its sales growth to specialized fuel additives. The company assures adequate fuel supplies and normal operations at…
Russia is attempting to sell natural gas from its sanctioned facilities to South Asian nations. These offers come at a significant discount through intermediary firms. Sellers are reportedly willing to provide documentation to disguise the origin of the gas. This comes as global gas supplies face disruptions, forcing countries like Bangladesh and India to seek…
India’s glass industry faces severe production disruptions due to Middle East conflict-induced energy shortages. Gas diversions to households have crippled factories, leading to output cuts and price hikes across various sectors. Manufacturers anticipate prolonged impacts, affecting everything from beverages to pharmaceuticals.
The Strait of Hormuz sees minimal ship traffic post-ceasefire. Only a handful of vessels have navigated the crucial waterway amid ongoing concerns. Iran has outlined specific routes, with some ships reportedly paying fees. Hundreds of ships remain stranded, and the global oil market faces severe disruption. Shipping giants are hesitant to resume normal operations.
US President Donald Trump on Thursday accused Iran of doing a “very poor job” of allowing oil through the Strait of Hormuz and of breaching the terms of their two-week ceasefire agreement. “Iran is doing a very poor job, dishonorable some would say, of allowing Oil to go through the Strait of Hormuz,” Trump said…
Investors made a massive $950 million bet on oil prices dropping. This happened just hours before the US and Iran announced a ceasefire. The move followed a similar large wager before a previous Trump announcement. Such big bets are unusual, especially when executed late in trading. The market reacted significantly to both events.
India is pushing for more piped gas connections. Oil Secretary Neeraj Mittal has asked city gas companies to speed up adding household connections. This comes as the government eases rules for infrastructure. The move aims to reduce reliance on imported fuel. Recent global events highlighted vulnerabilities in current supply chains.