The Trump administration let a waiver for Russian oil sales expire. This happened even as the Iran war caused worries about global oil supplies and rising fuel costs. The move ended a short period of eased sanctions on some Russian oil. Countries like India and Indonesia had asked for extensions due to market tightness.
An Iraqi crude oil tanker is heading towards India after navigating the Strait of Hormuz. Commercial ship movements through the vital waterway are still low. This comes as the conflict enters its twelfth week. Iran has not eased its blockade of Hormuz. The tanker Karolos was seen sailing away from the strait. Vessel tracking data…
Rajasthan’s power regulator has again rejected a proposed 3.2 gigawatt coal power project. The regulator wants state utilities to first reassess demand and capacity needs. This decision comes as other Indian states increase coal power purchases to meet rising demand for round-the-clock electricity. India aims for significant non-fossil fuel power capacity by 2030.
Fuel prices have increased by Rs 3 per litre for petrol and diesel. This is the first pump price hike in four years. The move aims to reduce losses for oil companies. However, it is expected to increase freight costs and inflation. More price revisions are anticipated in the coming weeks. CNG prices have also…