New Delhi, April 23 (IANS) Indian oil marketing companies (OMCs) have begun relying on their commercial crude inventories as supply chains tighten following the closure of the Strait of Hormuz amid escalating geopolitical tensions in West Asia, according to a report on Thursday.The disruption linked to the ongoing US-Israel conflict involving Iran has constrained supplies from the Gulf region, while sharply increasing freight charges, insurance premiums and transit durations, NDTV Profit reporte…
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New Delhi, April 21 (IANS) The Ministry of External Affairs (MEA) said on Tuesday that India continues to follow developments in the West Asia region and remains in touch with countries of the region. Addressing an inter-ministerial media briefing on recent developments in West Asia on Tuesday, MEA spokesperson Randhir Jaiswal said that India is in touch with the Iranian authorities on the issue of safety of Indian nationals in Iran and to ensure safe passage of Indian ships through the Strait o…
New Delhi, April 18 (IANS) The US-Iran conflict has disrupted supplies of life-saving medicines and infant milk formula in Pakistan, exposing gaps in the country’s healthcare preparedness and policy framework, a report has said.According to a report published in Pakistan Observer, the supply shock has led to shortages and rising prices, causing distress among patients, particularly those dependent on critical drugs and imported nutritional products.Mohammad Atif Hanif Baloch, President of the …
New Delhi, April 18 (IANS) All Indian seafarers in the West Asia and Gulf region are safe and no incident involving Indian-flagged vessels has been reported in the past 24 hours, the government said on Saturday.DG Shipping has facilitated the safe repatriation of over 2,487 Indian seafarers so far, including 34 in the past 24 hours from various locations across the Gulf region.“Port operations across India remain normal with no congestion reported,” according to an official statement.Necessa…
New Delhi, April 16 (IANS) International Energy Agency chief Fatih Birol on Thursday warned that air travel in Europe would be hit due to a shortage of jet fuel if the Strait of Hormuz remains closed, as stocks were already running low. Europe may have “only maybe 6 weeks or so of jet fuel left”, and there could soon be flight cancellations if supplies remained blocked, Birol told the Associated Press.Stocks would reach a tipping point in June if Europe was unable to replace at least half of its…
Washington, April 16 (IANS) The United States expects the ongoing conflict involving Iran to ease within weeks, with the Energy Secretary expressing confidence that the economic impact, particularly on oil markets, will remain contained.Speaking at a Wall Street Journal policy discussion, US Energy Secretary Chris Wright said the situation would not trigger prolonged economic strain despite a temporary spike in fuel prices.“I think the conflict will be resolved in the next few weeks,” Wright…
Washington, April 15 (IANS) India’s remittance inflows could come under pressure if economic disruption persists in the Gulf region, with potential losses estimated at up to $10 billion, Chief Economic Advisor V. Anantha Nageswaran said on Wednesday. Addressing the US-India Economic Forum 2026, Nageswaran highlighted the vulnerability of remittance flows to geopolitical tensions and economic slowdowns in key host countries.India received about $124 billion in remittances in 2024–25, ma…
Washington, April 15 (IANS) US President Donald Trump said a second round of direct talks with Iran could take place “over the next two days,” signalling a possible diplomatic opening even as the United States presses ahead with a naval blockade targeting Iranian-linked shipping.In an interview with The New York Post, Trump said negotiations could happen soon and pointed to Pakistan as a possible venue. “Something could be happening over the next two days, and we’re more inclined to go t…
New Delhi, April 14 (IANS) All Indian seafarers in the Gulf region are safe, and no incident involving Indian-flagged vessels has been reported in the past 24 hours, the Ministry of Ports and Shipping said on Tuesday.The Directorate General (DG) of Shipping has facilitated the safe repatriation of over 2,262 Indian seafarers so far, including 85 in the past 24 hours, from various locations across the Gulf region, a ministry statement said.The DG Shipping Control Room has handled 6,292 calls and …
New Delhi, April 13 (IANS) India-flagged LPG vessel Jag Vikram, which safely sailed out of the Strait of Hormuz on Saturday, carrying approximately 20,400 metric tonnes of LPG cargo with 24 seafarers onboard, is expected to arrive at Kandla port on Tuesday, according to a government statement.All Indian seafarers in the region are reported to be safe, and no incident involving Indian-flagged vessels has been reported in the past 24 hours, the statement said.The DG Shipping Control Room has handl…