India imports about half of its natural gas requirement, which is used to generate electricity, make fertiliser, convert into CNG to run automobiles, piped to household kitchens for cooking and used as feedstock in a variety of industries. This gas is imported in its liquid form, called LNG, in ships from countries like Qatar and…
India will not compensate state-run fuel retailers for losses incurred by selling transport fuels below market prices. While companies have increased prices for industrial customers and jet fuel for foreign carriers, retail prices for gasoline, gasoil, LPG, and jet fuel for Indian carriers remain unchanged. The government prioritizes protecting retail consumers.
Cooking gas LPG use in India saw a significant 16 percent drop in April. Supply issues stemming from the West Asia conflict impacted availability for homes and businesses. This led to reduced consumption compared to last year and the previous month. Other fuel sales like diesel and petrol also showed moderated growth.
The Abu Dhabi National Oil Company on Sunday pledged to spend $55 billion on new projects over the next two years, just days after the United Arab Emirates’ officially left the OPEC oil cartel. The UAE has been an OPEC member through the emirate of Abu Dhabi since 1967, four years before the former British…
OPEC+ plans a small oil output increase. This boost will be symbolic as the U.S.-Iran conflict blocks vital Gulf oil routes. The Strait of Hormuz closure severely limits exports from key members. This disruption has already sent oil prices soaring. Analysts warn of jet fuel shortages and rising global inflation.
The Union Cabinet is poised to approve a Rs 37,500 crore incentive scheme to promote coal gasification projects. This initiative aims to boost clean energy production, reduce import dependence on critical commodities like LNG and urea, and enhance the utilization of domestic coal resources.
Seven OPEC+ nations are meeting to set oil production quotas — the first decision since the UAE left the cartel. The war in the Middle East has already pushed oil prices higher. Markets expect a small increase in production, but actual output is already below limits due to blockades.
V Anantha Nageswaran has called for India to build strategic buffers to manage the ongoing energy shock triggered by the West Asia crisis, warning it is the most severe in recent times.
Tightened US naval restrictions in the Strait of Hormuz have sharply reduced Iran’s oil exports, forcing the country to cut production as storage fills up. Despite the pressure, Iran is drawing on past experience with sanctions to manage the crisis, including reducing output in a controlled way and using floating storage to keep supplies moving.
The world’s largest container shipping company, MSC Mediterranean Shipping Company, is launching a new Europe–Middle East service that avoids the Strait of Hormuz by combining sea, road, and feeder ship routes.