New Delhi, March 27 (IANS) The Ministry of External Affairs (MEA) said on Friday that four ships laden with LPG have arrived in India after crossing the Strait of Hormuz and assured that New Delhi is in touch with concerned countries for the safe transit of its ships to meet its energy needs. While addressing a weekly media briefing in New Delhi on Friday, MEA spokesperson Randhir Jaiswal said that India’s approach to sourcing its energy needs is based on the imperative to secure the needs of 1….
Latest Crude Oil News & Updates
Mumbai, March 27 (IANS) Maharashtra Chief Minister Devendra Fadnavis on Friday hailed the Centre’s move to reduce excise duty on petrol and diesel, asserting that it will insulate Indian consumers from the fallout of the ongoing Middle East conflict. The Chief Minister termed the government’s action a vital protective measure against global energy volatility. The Centre has slashed excise duty by Rs 10 per litre on both petrol and diesel with immediate effect.Speaking to reporters, the Chief…
New Delhi, March 27 (IANS) Union Minister Pralhad Joshi on Friday termed the Opposition’s behaviour in Parliament as “most unfortunate,” accusing the Congress and other parties of acting irresponsibly at a time when the world is grappling with economic challenges, particularly rising crude oil prices.“The Opposition’s behaviour in Parliament at present is most unfortunate. The Congress and a few other major parties are acting irresponsibly,” Joshi said, claiming that instead of ackno…
New Delhi, March 25 (IANS) The government on Wednesday dismissed reports claiming changes in LPG refill booking timelines, terming them misleading and unfounded.The Ministry of Petroleum and Natural Gas (MoPNG) clarified that no revisions have been made to the existing refill booking norms for LPG connections.The ministry stated that some media reports and social media posts had claimed that refill booking timelines had been altered to 45 days for Pradhan Mantri Ujjwala Yojana (PMUY) beneficiari…
Seoul, March 24 (IANS) The South Korean government will strictly enforce a mandatory five-day vehicle rotation system for the public sector to respond to possible oil supply disruption amid persisting tensions in the Middle East while implementing additional energy-saving measures, the climate ministry said Tuesday. Starting Wednesday, the government will beef up monitoring of the public sector’s compliance with the license plate-based rationing system, under which cars are divided into five gro…
New Delhi, March 24 (IANS) Prime Minister Narendra Modi on Tuesday said that the Indian economy’s fundamentals are “strong” and the Centre is making “continuous efforts” to ensure the West Asia conflict has minimal effect on the country. Speaking in the Rajya Sabha on the West Asia conflict, PM Modi said, “This present problem has shaken the economy of the entire world. It will take a lot of time for the world to recover from the loss in West Asia. Continuous efforts are underway to ensure that …
New Delhi, March 24 (IANS) After Zomato, food delivery platform Swiggy has raised platform fee, increasing it by 17 per cent to Rs 17.58 per order from Rs 14.99 earlier. The revised charges, as per its billing on the app, suggest a hike of around 17 per cent or Rs 2.59, including pre-GST, just days after rival Zomato revised similar category charges.The revised fee is now visible on the Swiggy app, with the company informing users that the increase is aimed at helping it “operate and maintain …
New Delhi, March 24 (IANS) The Indian rupee opened higher against US dollar on Tuesday after US President Donald Trump announced a five-day pause of strikes on Iranian power and energy infrastructure.The domestic currency was trading at Rs 93.64 to the dollar, as compared to the record low of Rs 93.98 to the dollar in the previous trading session.According to analysts, the market has welcomed the five-day pause but not with conviction, and any signs of further de-escalation could pull the USD/IN…
New Delhi, March 23 (IANS) Congress MP Manish Tewari on Monday raised concerns over supply disruptions caused by the ongoing conflict in West Asia and stressed the need to give diplomacy a chance. He said the war has entered a very critical and dangerous phase, urging all sides to de-escalate tensions. Speaking to the media, Tewari highlighted the challenges facing energy-consuming nations, pointing to the wider implications of disruptions in the supply chain of crude oil, natural gas, fertilise…
New Delhi, March 23 (IANS) The quantity of crude oil currently stocked as part of India’s strategic reserves is around 3.372 million metric tonnes (MMT), which is 64 per cent of the total storage capacity of these reserves, the Parliament was informed on Monday.The government, through a Special Purpose Vehicle called the Indian Strategic Petroleum Reserve Limited (ISPRL), has established Strategic Petroleum Reserves (SPR) facilities with total capacity of 5.33 million metric tonnes (MMT) of cr…