Tankers exit Hormuz as Trump, Vance talk up Iran deal prospects
Two Chinese oil tankers have passed through the Strait of Hormuz. This follows positive comments from U.S. President Donald Trump and Vice President JD Vance. They suggest a resolution to the U.S.-Israeli conflict with Iran is nearing. Oil prices have eased on these developments. Negotiations with Iran are ongoing, with both sides seeking an agreement…
US strikes on Venezuela unlikely to impact oil market: Former Chief Economic Adviser Arvind Subramanian
Former Chief Economic Adviser Arvind Subramanian stated that US strikes on Venezuela are unlikely to significantly impact the global oil market. He noted that prevailing market opinion suggests limited consequences for oil prices, indicating no major disruption to supply or pricing. This comes after the US captured Venezuelan President Nicolas Maduro and his wife following…
Iran would open Strait of Hormuz 30 days after peace deal
The U.S. and Iran are reportedly discussing a phased plan to reopen the Strait of Hormuz after a potential agreement to end hostilities, according to a Nikkei report citing a Middle East diplomatic source.
India’s Russian crude buying has to stop, US adviser Navarro says
White House trade advisor Peter Navarro says India’s purchase of Russian crude is funding Moscow’s war in Ukraine. He adds that New Delhi is now cozying up to both Russia and China. Navarro suggests India needs to act like a strategic partner of the US if it wants to be treated as one.
Two India-bound LPG tankers transit through Strait of Hormuz amid US-Iran war
Two ships carrying cooking fuel have successfully passed through the Strait of Hormuz. These vessels are heading towards India. This marks an increase in such passages recently. Several other large ships carrying oil, fuel, and gas have also navigated the strait. Some vessels are still near a US blockade line. One supertanker was turned back…
Andhra Pradesh to issue power distribution licences to large data centres
Andhra Pradesh is introducing a new policy to grant power distribution licenses to large data centers. This initiative aims to ensure a consistent and dependable electricity supply for these facilities. Companies meeting specific criteria can build and operate their own internal power distribution systems.
Reliance Infra to recover ₹21,413 cr in unpaid power dues from New Delhi consumers
India’s Reliance Infrastructure is set to recover ₹214.13 billion in unpaid dues from its Delhi power distribution companies, following a Supreme Court ruling. These dues, resulting from past tariff shortfalls, will be recovered from consumers over four years starting April 2024, potentially increasing electricity tariffs. The Supreme Court has directed regulators to clear deferred costs…
Power companies approach HERC seeking relaxation in rules
Haryana power distribution companies have asked the Haryana Electricity Regulatory Commission for rule changes. They want to defer monthly fuel surcharge recovery. Instead, they propose recovering the amount in later financial years. This aims to balance utility finances and consumer interests. The Commission is seeking public feedback before a final decision.
India cranks up output to cope with enduring cooking gas crisis
India is grappling with a severe cooking gas shortage. Refineries are increasing output, and new supplies are being sourced globally, including from the US. Consumers are being encouraged to switch to piped gas. The crisis has led to price hikes and impacted businesses. Authorities are taking action against hoarding and price gouging.