New Delhi, May 29 (IANS) India is diversifying its sources of oil and gas imports to make up for the shortfall in supplies caused by the choking of the Strait of Hormuz amid the West Asia crisis, a senior official said on Friday. “Energy security is very important for us. We are trying to diversify our sources from across the world, and that is our policy at present. We welcome whatever support we can receive from various markets around the world,” said Randhir Jaiswal, the Ministry of External …
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New Delhi, May 18 (IANS) India has been buying Russian oil regardless of US sanctions or waivers and will continue to do so based on commercial viability and the country’s energy security needs, a senior Petroleum Ministry official said on Monday.”Regarding the American waiver on Russia, I would like to emphasise that we have been purchasing oil from Russia earlier… before waiver also, during waiver also, and now also,” Joint Secretary Sujata Sharma told reporters at a media briefing.India’s…
London, April 15 (IANS) At least two vessels transited through the Strait of Hormuz en route to Iranian ports after altering their Automatic Identification System (AIS) destination data, following a US blockade on ships entering and leaving Iran, British shipping media reported. The report by British shipping media Lloyd’s List said that following the enforcement of the blockade, some vessels with intended calls at Iranian ports were observed adjusting their AIS destination signals while passing…
New Delhi, March 6 (IANS) After a surge of over 15 per cent since last week when the US-Israel and Iran war began, oil prices dropped early on Friday after the US said it would allow a 30-day waiver for Indian refiners to purchase Russian oil stranded at sea.The April contract of the benchmark Brent crude on the Intercontinental Exchange was trading at $84.21 per barrel, down by 1.52 per cent from its previous close. The West Texas Intermediate on the Intercontinental Exchange fell 2.10 per cent…
Mumbai, Jan 28 (IANS) India stopped diesel shipments to the European Union this month due to the EU’s ban on fuel refined from Russian crude, and instead sent record volumes to West Africa, shipping data has showed.The shipping data from Kpler and Vortexa showed that the ban also led to Turkey’s previously strong diesel exports to the EU slowing in recent months, as per reports.Analysts said the EU policy — aimed at penalising Russia over its 2022 invasion of Ukraine — has forced refiners to…