New Delhi, June 29 (IANS) The Indian government’s “extraordinary” handling of the global energy crisis in the wake of the West Asia conflict ensured that consumers were protected from the rise in prices and there was no black marketing in fuels as households continued to get LPG, India’s former G20 Sherpa Amitabh Kant said.”I would really appreciate several measures taken by India during this period. This crisis is not of our making. It’s a global crisis. Across all countries of the world, the…
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New Delhi, June 29 (IANS) Although the closure of Strait of Hormuz on February 28 was really a worst-case situation for global energy markets, the Indian government acted quickly to handle the crisis and ensure normal supply of fuels in the country, Navdeep Suri, former Ambassador of India to the UAE, said on Monday. Speaking to IANS, Suri said “I think there was some very proactive energy diplomacy that we saw”. “The special relationship that the government has forged with countries like th…
New Delhi, June 29 (IANS) As the Middle East crisis unfolded, India responded better than several global economies because the ground had been prepared, and infrastructure built over the past decade is the reason a closure of the Strait became a managed event rather than a crisis at the pump and the kitchen, according to the government.India’s crude position is defended by diversification rather than by stock alone. The number of source countries has widened from 27 to 41, with newer suppliers…
New Delhi, June 25 (IANS) In a major relief to industrial and commercial LPG consumers, the government on Thursday removed all sectoral restrictions on the supply of non-domestic packed LPG and restored supplies to the levels prevailing prior to the West Asia crisis.The restrictions have been lifted due to improved indigenous LPG production and the projected availability of imported LPG cargoes following the US-Iran peace agreement and the opening of the Strait of Hormuz, according to a statemen…
New Delhi, June 20 (IANS) India diversified its liquefied petroleum gas (LPG) imports during the recent West Asia conflict, significantly increasing purchases from the United States, Iran and several other countries to reduce its dependence on the Gulf region.According to a report by Crisil, India’s LPG import profile underwent a notable shift as geopolitical tensions disrupted supplies from West Asia, which traditionally accounts for nearly 90 per cent of the country’s LPG imports. By April…
Seoul, June 18 (IANS) South Korea plans to apply zero tariff rates on liquefied natural gas (LNG) and liquefied petroleum gas (LPG) within quotas in the second half of 2026 as the country seeks to tame inflation amid lingering global energy price volatility, the finance ministry said on Thursday.The Ministry of Finance and Economy said tariff rates on LNG, LPG and crude oil used for the production of LPG will be lowered to zero in the second half, noting the measure is expected to help stabilise…
New Delhi, June 13 (IANS) Inflation in Telangana continues to be the highest among all states since January 2026 and now is at 6.15 per cent in May, which may be due to higher taxes on fuel, rise in rural wages and reliance on imported fresh produces, according to an SBI Research report.State-level consumer inflation statistics highlight a broad regional disparity across the country.Out of the 36 states/UTs, there are 12-14 states/UTs where inflation is higher than all India level. Inflation in …
New Delhi, June 10 (IANS) Amid criticism over the government’s decision to reduce the number of subsidised LPG cylinder refills under the Pradhan Mantri Ujjwala Yojana (PMUY) from nine to four annually, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said on Wednesday that the move was prompted by misuse of the scheme by some beneficiaries.In an interaction with IANS, Puri highlighted that the move was based on evidence that many beneficiaries did not require the additional cylinders…
New Delhi, June 10 (IANS) India and the United States can deepen strategic energy ties across the hydrocarbon value chain to expand bilateral trade to a shared goal of $500 billion by 2030, a report said on Wednesday.The report from US-India Business Council and Grant Thornton Bharat said hydrocarbons, including LNG, crude oil, LPG, ethane and propane, will play a major role in expanded trade while unlocking new avenues for investment, strengthening energy security and enhancing supply chain res…
New Delhi, June 9 (IANS) Opposition leaders on Tuesday criticised the government’s decision to reduce the number of subsidised LPG cylinder refills available under the Pradhan Mantri Ujjwala Yojana (PMUY) from nine per year to four, with some quipping that it should now be renamed the “Andhkaar Scheme”. Talking to IANS, Congress leader Sandeep Dikshit said the decision reflected the government’s failure to sustain welfare support for citizens.”What this means is that PM Modi first took over Cong…