Seoul, May 19 (IANS) South Korea’s President Lee Jae Myung said Tuesday he and Japanese Prime Minister Sanae Takaichi agreed to further enhance cooperation on supply chains amid the continuing conflict in the Middle East, as well as in securing crude oil and Liquefied Natural Gas (LNG) supplies.Lee made the remarks as he and Takaichi announced the results of their summit held at a hotel in his hometown of Andong, 190 kilometres southeast of Seoul.”We agreed that close bilateral cooperation is …
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New Delhi, May 15 (IANS) Iranian Foreign Minister Seyed Abbas Araghchi on Friday said that the Strait of Hormuz remains open to all vessels, except for those belonging to countries engaged in a conflict with Iran. Addressing a press conference in New Delhi, Araghchi said that Iran continues to facilitate the passage of vessels, noting that it had already done so for several Indian ships. He said safe passage of all vessels is Iran’s policy and interest and that Tehran is ready to assist those se…
New Delhi, May 14 (IANS) Union Minister for Road Transport and Highways Nitin Gadkari on Thursday travelled by bus instead of using his official convoy during an inspection of the Sant Dnyaneshwar Maharaj Palkhi Marg, backing Prime Minister Narendra Modi’s appeal for fuel conservation amid rising global uncertainties.New Delhi, May 14 (IANS) Union Minister for Road Transport and Highways Nitin Gadkari on Thursday travelled by bus instead of using his official convoy during an inspection of the…
New Delhi, May 13 (IANS) The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a scheme for the promotion of surface coal/lignite gasification projects with a financial outlay of Rs 37,500 crore.The scheme is projected to create around 50,000 (direct and indirect) jobs across 25 projects in coal-bearing regions, according to an official statement.In a significant accompanying reform, the government has also extended coal linkage tenure up to 30 years under the “Prod…
New Delhi, May 3 (IANS) The Centre is likely to approve a fresh package of financial incentives this month to boost coal gasification projects with an estimated outlay of over Rs 35,000 crore, according to reliable sources.The Cabinet proposal drawn up by the Ministry of Coal will scale up the earlier Rs 8,500 crore incentive programme approved in January 2024, which laid the foundation for coal gasification in India.The proposed scheme, to be taken up by the Union Cabinet, is aimed at accelerat…
Seoul, April 30 (IANS) Top diplomats of South Korea and Australia held talks Thursday and agreed to enhance cooperation to ensure stable supplies of diesel and other energy resources amid global supply disruptions caused by the ongoing crisis in the Middle East.South Korea’s Foreign Minister Cho Hyun and his Australian counterpart, Penny Wong, adopted a joint statement during their meeting in Seoul, covering high-level exchanges, economic security, defence cooperation and regional security issue…
New Delhi, April 29 (IANS) Global crude oil prices extended their upward momentum on Wednesday amid reports that the United States is likely to continue its blockade of Iranian ports, raising concerns over prolonged supply disruptions in the Middle East.International oil benchmark Brent crude rose 0.63 per cent to $111.97 per barrel, while US West Texas Intermediate (WTI) crude gained 0.81 per cent to $100.74.The rise was supported by reports that claim US President Donald Trump has asked aides …
New Delhi, April 27 (IANS) There is no change in the retail prices of major fertilisers in India despite a sharp rise in global prices as the government is committed to shielding farmers from global price volatility while ensuring affordability and accessibility, the Ministry of Fertilisers announced on Monday.Despite a sharp rise in global fertiliser prices — where international prices of urea have exceeded Rs 4,000 per bag — the government continues to supply urea to farmers at a highly subs…
New Delhi, April 22 (IANS) The government on Wednesday said that 41 biogas cylinder filling and storage plants have been granted approval, and subsequently, licenses have been issued to 14 plants.A total of 467 applications for compressed natural gas (CNG) and compressed biogas (CBG) dispensing stations were received by the Petroleum and Explosives Safety Organisation (PESO), and all were disposed of on a priority basis from March 25 to April 21.Out of 467 cases, in 157 cases, final licenses wer…
New Delhi, April 22 (IANS) With the conflict in the Middle East leading to disruption in oil supplies and soaring prices in global market, South Asian countries are turning to India, rather than China, to tide over the fuel crisis, according to an article published by OCRA (Organisation for Research on China and Asia).For South Asian economies already operating with limited buffers, a prolonged disruption could translate into sustained price pressures and mounting fiscal strain.In this context, …