New Delhi, May 14 (IANS) Two India-bound vessels carrying cooking fuel from the Persian Gulf have successfully transited the Strait of Hormuz despite ongoing tensions involving the US and Iran, according to reports.The liquefied petroleum gas (LPG) carrier Symi emerged in the Gulf of Oman on Thursday after temporarily switching off its transponder during transit.Another vessel — NV Sunshine — carrying LPG, reportedly went dark shortly after crossing the strategic waterway.The development has h…
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Washington, April 5 (IANS) The closure of the Strait of Hormuz has triggered a widening global economic shock as energy markets reel from supply disruptions, according to a report.The Iran war’s impact on global energy flows is intensifying, with the effective shutdown of the Strait of Hormuz disrupting oil, gas and critical supply chains across continents, according to The Washington Post .The strategic waterway, through which about 20 per cent of the world’s oil passes, has become the foca…
New Delhi, April 4 (IANS) The government on Saturday dismissed reports and social media claims that an Iranian crude oil cargo was diverted from Vadinar in India to China due to payment issues, calling them “factually incorrect” and misleading.The Ministry of Petroleum and Natural Gas has clarified that recent reports suggesting India lost an Iranian oil shipment due to payment problems are not true.The government said India imports crude oil from more than 40 countries, and oil companies ha…
Amaravati, March 10 (IANS) There is no shortage of LPG in Andhra Pradesh, and there is no need for people to be worried, said state Minister for Food and Civil Supplies Nadendla Manohar on Tuesday. He said in a statement that there are sufficient gas reserves to meet domestic and commercial needs and that there is no problem at present.He directed that district-wise steps be taken to prevent LPG from being illegally diverted to the black market at this crucial time, and that the Joint Coll…
New Delhi, March 7 (IANS) Top government sources on Saturday allayed fears that current global energy situation can become a crisis for India, saying that the country currently holds over 250 million barrels (around 4,000 crore litres) of crude and petroleum products, providing about 7-8 weeks of buffer across the supply chain.These stocks are not held in a single location or a single form. They are distributed across above-ground storage tanks, underground strategic caverns, pipeline systems, t…