India and Southeast Asian nations are boosting biofuel use amid global fuel disruptions. This move aims to reduce reliance on imported oil and manage rising costs. However, challenges remain in developing supply chains and ensuring vehicle compatibility. Experts also highlight environmental concerns related to crop-based biofuel production. The shift towards biofuels is a significant development…
Petrol Diesel Price Increase: Fuel prices have risen nationwide. Petrol and diesel rates saw an increase of up to Rs 3 per litre. In Delhi, petrol now costs Rs 97.77 and diesel Rs 90.67. This adjustment by oil marketing companies reflects global crude oil market volatility. The hike will affect household budgets and transport costs,…
India’s crude oil stocks have dropped 15% since late February due to declining imports amid the Iran conflict. Refiners are drawing from inventories to maintain processing rates, but sustained supply constraints may soon necessitate reduced operations, potentially explaining the call for fuel conservation.
Rajasthan petrol pump dealers allege oil marketing companies have reduced fuel supplies and imposed informal sales limits on consumers. This move, communicated via mobile messages and verbal instructions, could potentially lead to law and order issues at fuel stations across the state.
Russia’s Urals oil export blend hit its highest price since October 2023, reaching $94.87 a barrel for tax purposes this month. This surge, driven by disruptions from the Iran war impacting Persian Gulf supplies, significantly boosts the Kremlin’s war economy. Higher oil revenues are enabling the government to replenish its reserves and postpone spending cuts.
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…
Indian Prime Minister Narendra Modi will visit the UAE to discuss long-term energy supply deals and expand strategic oil reserves. The visit, part of a five-nation tour, aims to secure supplies disrupted by global conflicts. Modi will meet UAE President Sheikh Mohamed bin Zayed Al Nahyan to explore energy cooperation and other bilateral issues.
India has requested the United States to extend its waiver on Russian oil imports. This comes as the ongoing conflict in the Persian Gulf impacts global energy supplies. India emphasises that securing energy supplies remains a top priority for its citizens. Indian refiners are increasing Russian oil imports before the current waiver expires.
India and the UAE are likely to sign two MoUs on Friday focused on LPG supplies and strategic petroleum reserves during Prime Minister Narendra Modi’s visit to the Gulf nation, aimed at strengthening India’s energy security amid ongoing global turmoil.
The India-bound LPG tanker MV Sunshine is safely navigating the Strait of Hormuz. The Indian Navy is providing support for its secure passage. Iran’s Deputy Foreign Minister stated that peace in the Strait of Hormuz would improve safety. He also mentioned that Iran welcomes any Indian initiative to reduce regional tensions, highlighting strong India-Iran cultural…