New Delhi, March 11 (IANS) Crude oil prices further declined on Wednesday after reports surfaced that the International Energy Agency (IEA) proposed the largest release of emergency reserves in its history to cool the price surge fuelled by the US‑Iran war.The proposed release would surpass the 182 million barrels deployed in two tranches in 2022 following Russia’s invasion of Ukraine, according to multiple reports. The Group of Seven (G7) nations have asked the IEA to prepare scenarios for …
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Patna, March 10 (IANS) A rumour about a possible domestic gas shortage created panic, on Tuesday, in the Sugauli block of East Champaran district in Bihar, after claims spread that LPG supplies might be disrupted due to the ongoing tensions between Iran and Israel. As the rumour spread rapidly, hundreds of residents rushed to the local gas agency warehouse, carrying empty cylinders and standing in long queues for hours.The sudden rush created chaos outside the warehouse as people tried to secure…
Seoul, March 9 (IANS) South Korean companies are seeking responsive measures to cope with soaring international oil prices as turmoil in the Middle East continues, industry sources said on Monday, while the government called for efforts to stabilise domestic fuel prices.Major companies here, including Samsung Electronics Co., SK Group, Hyundai Motor and Hanwha Group, have held emergency meetings over the past few days to monitor the volatility in the global energy market and come up with ways to…
New Delhi, Jan 13 (IANS) There will not be any material impact on credit profiles of Indian corporates engaged in business with Venezuelan customers, given their modest exposure, a report said on Tuesday.Crisil Ratings does not expect the recent developments in Venezuela to have any material impact on India’s global trade or the credit quality of Indian corporates.“Even in the event of any escalation that disrupts crude oil production in Venezuela, the country’s relatively small share (1.5…