New Delhi, April 28 (IANS) Indian airlines are likely to take a call on capacity cuts after the next ATF revision, as a sharp increase in jet fuel prices could force them to rationalise operations, particularly on less profitable routes, according to a report on Tuesday.Domestic carriers are in a wait-and-watch mode as they assess the impact of rising Aviation Turbine Fuel (ATF) prices and prepare for possible changes following the next price revision due in May, NDTV Profit reported.The report …
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Seoul, April 9 (IANS) South Korea has yet to receive any official request from Iran on fees for passage through the Strait of Hormuz, a Seoul official said on Thursday, adding that the government is still working to identify the situation surrounding the major shipping route amid a fragile two-week ceasefire between the United States and Iran.”There has been no request from Iran for transit fees or payments,” Yang Ghi-wuk, deputy minister for trade, industry and resource security, said in a regu…
New Delhi, March 23 (IANS) India has ample reserves of fertilisers for farmers and its import has also been diversified, Prime Minister Narendra Modi said on Monday, adding that in the Kharif season, the country is aiming for adequate sowing.Addressing the Parliament, PM Modi said the government has kept adequate reserves of fertilisers.”We have taken several steps in previous years to support farmers. Fertiliser import has been diversified. We have also given the alternative of ‘Make in India…
New Delhi, March 13 (IANS) The US waiver for buying seaborne Russian crude has immediately freed another 20-odd million barrels of oil on board ships which is expected to cool runaway prices that have crossed the $100 per barrel mark in the global market amid the Iran war.There are currently around 25 ships carrying Russian crude at sea while another five ships are carrying petroleum products. These can be diverted immediately to destinations from where the demand emanates.The temporary waiver c…
New Delhi, March 12 (IANS) Lok Sabha Leader of Opposition (LoP) Rahul Gandhi, on Thursday, flagged the issue of LPG shortages hitting the hotel industry, in the wake of West Asia crisis and claimed that this was the “beginning of pain” that will only aggravate in days to come. Speaking in Lok Sabha over ‘LPG crisis’, the Congress MP took potshots at the Union government over its alleged surrender to the US administration’s diktats and asked how could the US President Donald Trump decide “from wh…
New Delhi, Feb 28 (IANS) Oil prices are expected to rise due to the “massive combat operation” launched by the US and Israel on Iran which brings the Strait of Hormuz into the war zone, leading to a disruption in crude exports from the Middle East countries.Over 20 per cent of the world’s oil supply is shipped out of the Strait of Hormuz which links the Persian Gulf with the Gulf of Oman and the Arabian Sea. With heavy missile bombardment and US President Donald Trump announcing that an an…
Washington, Feb 12 (IANS) The United States has claimed India has been “reducing” its purchases of Russian oil and diversifying energy imports, as lawmakers pressed the State Department on enforcement challenges tied to Moscow’s war in Ukraine. During a House subcommittee hearing on South and Central Asia on Wednesday (local time), Republican Rep. Keith Self raised concerns that continued Russian oil sales were helping finance the war.“The sale of Russian oil continues to fund the Ukrain…