New Delhi, May 10 (IANS) Saudi Arabian Oil Company (Aramco) president and CEO Amin H. Nasser said on Sunday that the oil giant’s East-West Pipeline has reached its maximum capacity of 7.0 million barrels of oil per day and is proving to be a crucial alternative to the Strait of Hormuz for ensuring energy supplies to world markets. Aramco announced a 25 per cent increase in its quarterly profit as it increased exports via a pipeline that bypasses the Strait of Hormuz, after the Iran war stopped…
Latest Energy Supply News & Updates
Washington, May 9 (IANS) The United States wants countries in South and Central Asia, including India, to have access to “world class technology” while avoiding dependence on adversarial nations, a senior State Department official said, underscoring Washington’s push to expand AI cooperation with New Delhi.Addressing the US-India AI and Emerging Technology Forum, Deputy Assistant Secretary of State Bethany Morrison said the focus is on ensuring technology access translates into tangible be…
Washington, May 5 (IANS) The current US-Iran standoff in the Strait of Hormuz has left thousands of commercial vessels stranded, disrupting global trade and threatening energy supplies, with potential ripple effects for import-dependent economies like India.US officials said more than 22,500 mariners aboard over 1,550 commercial vessels are currently unable to transit the region due to Iranian attacks and threats to shipping.The Strait of Hormuz, a narrow but critical waterway between Iran and O…
Washington, April 30 (IANS) Disruptions from the US war with Iran are pushing up fuel prices and straining global energy supplies, lawmakers warned, citing mounting pressure on economies worldwide.At a congressional hearing on Wednesday (local time), lawmakers pointed to instability around the Strait of Hormuz, a key shipping route for global oil flows, as a major source of concern.Ranking member Adam Smith said the economic fallout is already visible. “The impact on the economy certainly here…
Washington, April 2 (IANS) Global markets fell, and oil prices rose after US President Donald Trump signalled the Iran conflict would continue for weeks, raising concerns about supply disruptions and prolonged economic fallout, according to American media reports.US stock futures declined after Trump’s address, with S&P 500 futures down about 0.8 per cent, Nasdaq futures losing around 1 per cent, and Dow futures falling roughly 350 points, reported US media, including The Wall Street Journ…
Washington, March 31 (IANS) The United States is intensifying strikes on Iran while pursuing a deal to end Tehran’s nuclear ambitions, the White House said Monday, describing a dual-track approach of military pressure and diplomacy. Press Secretary Karoline Leavitt said the ongoing operation was “moving ahead successfully and according to plan”, with more than “11,000 enemy targets” struck so far.She said the campaign had sharply degraded Iran’s military capabilities. Ballistic…
Jaipur, March 28 (IANS) Senior Bharatiya Janata Party leader and former Leader of Opposition Rajendra Rathore on Saturday launched a sharp attack on former Chief Minister Ashok Gehlot, accusing him of being disconnected from reality and attempting to mislead the public. Rathore said Gehlot’s statements on Intezaar Shastra are far removed from Haqeeqat Shastra (ground reality), adding that his remarks are an attempt to hide past failures.Targeting Gehlot over dynastic politics, Rathore a…
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….
Karnal (Haryana), March 26 (IANS) Union Minister Manohar Lal on Thursday said that while global conflicts and geopolitical tensions pose a potential risk to the supply of petroleum products and gas, India is well-prepared to tackle any such challenge and there is “no need to panic” at present.Speaking to reporters, the minister underlined that the issue of energy supply is not confined to India alone but is a growing international concern, particularly in light of ongoing conflicts between sever…
Washington, March 13 (IANS) The United States has temporarily allowed countries to purchase Russian oil stranded at sea, a move that comes days after Washington granted a similar waiver to India as it seeks to stabilise global energy markets amid rising geopolitical tensions.Treasury Secretary Scott Bessent said the measure is designed to increase the reach of existing oil supplies while limiting financial gains for Russia, since the crude involved is already in transit.“@POTUS is taking decis…