The Government of India has said fuel supply in the country remains stable despite the ongoing West Asia crisis. It urged citizens not to panic or believe rumours. The Ministry of Petroleum and Natural Gas said petrol pumps and LPG outlets are functioning normally. There is no shortage of petrol, diesel, or LPG. Authorities reported Read More…
Tensions in the Middle East have increased after Iran warned of possible attacks on key energy facilities in Gulf countries following an Israeli strike on its South Pars gas field. According to reports, Iran issued evacuation warnings for major sites in Saudi Arabia, United Arab Emirates, and Qatar. The facilities named include major refineries and Read More…
New Delhi: In a major policy shift, Reliance Industries Limited (RIL) has halted the import of Russian crude oil to its Jamnagar refinery in Gujarat, aligning its operations with the European Union’s strict sanctions on fuel derived from Russian oil. Reliance, one of India’s largest buyers of Russian crude, announced that it has completely stopped Read More…
Washington: In a major blow to Russia, China has temporarily halted imports of Russian crude oil, following India’s decision to do the same, after the United States imposed sanctions on Russian oil companies. Reports indicate that China’s leading state-owned firms — Sinopec, PetroChina, CNOOC, and Shenhua Oil — have suspended their crude oil contracts with Read More…
Moscow: Amidst continuing retaliatory measures from the United States, Russia has extended a major offer to India by reducing the price of crude oil. The price per barrel will be lowered by up to four dollars. According to reports, India will purchase three hundred thousand barrels of crude oil daily this month. This move by Read More…
New Delhi: Rising tensions between Iran and Israel have triggered a sharp spike in global crude oil prices, sending Brent crude — India’s key oil benchmark — surging past $75 per barrel. The 1.24% uptick from the previous day’s close reflects growing concerns over supply disruptions in the region. The escalation began after Israel’s airstrike Read More…