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…
India is fast-tracking a deep-sea gas pipeline from Oman. This project aims to ensure steady gas supplies and reduce reliance on volatile LNG markets. The estimated ₹40,000 crore pipeline will connect Oman to Gujarat. It is expected to take five to seven years to build. This move addresses India’s energy security concerns and its vulnerability…
Global oil stocks are depleting rapidly. The Iran war is worsening supply disruptions. This situation will continue for months. The market faces a severe shortage until October. Oil prices are under pressure. Demand is also falling sharply. This is the steepest drop since the Covid pandemic. Some signs suggest the drawdown may be slowing.
Financial support to developers will be provided at a maximum of 20% of the cost of plant and machinery through a competitive bidding process, where incentives will be disbursed in four equal instalments linked to project milestones. The incentive for a project will be capped at Rs 5,000 crore and for any single product, except…