Washington, June 13 (IANS) US Treasury Secretary Scott Bessent said President Donald Trump’s push for “energy dominance” is central to the administration’s efforts to strengthen the economy, boost manufacturing and enhance national security, arguing that abundant domestic energy will be critical to winning the global race in artificial intelligence and advanced industries.Speaking at the Petroleum Club of Houston on Friday, Bessent described energy as the foundation of the administration’s econo…
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New Delhi, June 12 (IANS) India has imposed restrictions on the sale of motor spirit (petrol) and high-speed diesel (HSD) at retail fuel outlets, limiting bulk purchases and directing institutional and commercial users to source fuel through their dedicated consumer or captive pumps, according to an official government notification.The directive, aimed at curbing diversion of subsidised or retail-priced fuel, will remain in force for an initial period of up to 90 days unless withdrawn or modifie…
New Delhi, June 7 (IANS) Domestic cooking gas prices have been increased by Rs 29 per cylinder, marking the second hike in three months as state-owned oil marketing companies continue to face pressure from elevated global energy costs.With effect from Sunday, the price of a 14.2-kg domestic LPG cylinder in Delhi has been raised to Rs 942 from Rs 913, according to industry sources.The latest revision follows a Rs 60-per-cylinder increase announced on March 7 after the conflict in the Middle East …
Washington, May 27 (IANS) President Donald Trump on Wednesday said Iran was making progress in negotiations with the United States but warned military action remained an option, as concerns mounted over oil prices and tensions around the Strait of Hormuz. Speaking during a Cabinet meeting at the White House, Trump said the administration’s central objective remained preventing Iran from acquiring a nuclear weapon.“Iran cannot have a nuclear weapon,” Trump said. “I’m doing that for the …
Washington, May 20 (IANS) US President Donald Trump said Chinese President Xi Jinping had assured him that Beijing was not supplying weapons to Iran, as he defended ongoing diplomatic efforts to prevent Tehran from obtaining a nuclear weapon.Speaking to reporters during a visit to the White House ballroom construction site, Trump said he had received direct assurances from Xi amid rising tensions in the Middle East.“President Xi has promised me that he’s not sending any weapons to Iran,” Tru…
New Delhi, May 14 (IANS) The increase in wholesale inflation in April was largely driven by a sharp rise in energy and petroleum-related prices, which also contributed to higher input costs across several manufacturing segments, industry chambers said on Thursday.In contrast, food-related wholesale inflation remained relatively moderate compared with recent periods of raised volatility, said Rajeev Juneja, President, PHDCCI.India’s wholesale price inflation jumps to 8.3 per cent in April 2026 …
New Delhi, May 14 (IANS) Highlighting the fragile security environment in West Asia, External Affairs Minister (EAM) S. Jaishankar on Thursday said that persistent tensions in the region, along with threats to shipping routes and energy infrastructure, remain a matter of global concern.Delivering the national statement at the BRICS Foreign Ministers’ Meeting in New Delhi under India’s 2026 chairship, the EAM said, “The conflict in West Asia merits particular attention. Continuing tensions, risks…
New Delhi, May 12 (IANS) The Centre has reduced the royalty burden on crude oil and casing head condensate production from offshore deepwater and ultra-deepwater blocks, according to revised royalty provisions notified in the latest schedule under the oil and gas regime.Under the revised structure, royalty for deepwater areas has been fixed at 5 per cent for the first seven years from the commencement of commercial production and 10 per cent from the eighth year onwards.For ultra-deepwater block…
Washington, May 1 (IANS) President Donald Trump on Friday said that negotiations with the Iranians remain uncertain, warning he is “not satisfied” with current proposals while keeping both diplomacy and military action on the table. “They want to make a deal, but I’m not satisfied with it, so we’ll see what happens,” Trump told reporters before departing on Marine One.He described Iran’s leadership as fragmented and unable to reach a consensus. “They all want to make a deal, bu…
New Delhi, April 28 (IANS) The Centre on Tuesday said there is no proposal at present to increase retail fuel prices, seeking to calm concerns amid rising geopolitical tensions in West Asia that have impacted global energy markets.Speaking at an inter-ministerial briefing, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said petrol and diesel prices will remain unchanged for now, even as the government continues to monitor the evolving situation.“LPG, petroleum and…