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.
India has capped refinery margins to manage losses on domestic fuel sales. This follows a windfall tax on fuel exports. The move aims to balance record losses on petrol and diesel due to high international oil prices. Refineries will now effectively transfer excess earnings to state-run marketing companies. This adjustment impacts the pricing of diesel,…
The National Green Tribunal has rejected Bharat Petroleum Corporation Limited’s appeal against a Rs 1 crore environmental fine. BPCL failed to install a vapour recovery system in its storage terminals by the March 2024 deadline. The tribunal upheld the Central Pollution Control Board’s order, noting the Supreme Court’s directive on the matter.
West Asia War: Reliance Industries is limiting fuel purchases at its retail stations. Customers can buy only about $11 worth of gasoline or diesel per visit. This move aims to manage supply amid ongoing Middle East crisis disruptions. Other fuel retailers are also facing challenges. India imports most of its oil, making it vulnerable to…
India’s largest gas distributor GAIL plans significant borrowing for expansion in fiscal 2027. The company is also securing spot LNG cargoes to address supply disruptions. Global LNG flows face challenges due to geopolitical events and infrastructure damage. This impacts India’s energy security and terminal operations. GAIL’s Dabhol terminal is operating below capacity. Hindustan Petroleum Corp…