Antananarivo, April 8 (IANS) The Malagasy government declared a state of energy emergency across the entire territory for a period of 15 days to address a major energy supply crisis currently affecting the country.According to a presidential communique, this situation is attributable in particular to the repercussions of the conflict in the Middle East, which have disrupted energy supplies and public services in Madagascar.The government said that this state of emergency would allow for the impl…
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Seoul, April 7 (IANS) South Korean President Lee Jae Myung was set to hold a meeting with leaders of the ruling and the main opposition parties Tuesday, officials said, as they were expected to discuss measures to mitigate economic fallout from the war in the Middle East.Lee is scheduled to meet with Democratic Party (DP) leader Jung Chung-rae, DP floor leader Han Byung-do, People Power Party (PPP) leader Jang Dong-hyeok and PPP floor leader Song Eon-seog at Cheong Wa Dae later in the day.Prime …
Seoul, April 7 (IANS) South Korea President Lee Jae Myung’s chief of staff said he will depart for Kazakhstan, Oman and Saudi Arabia later Tuesday to discuss ways to secure crude oil and naphtha supplies amid few signs of apparent progress toward a truce in the US-Israeli war with Iran.The planned visit by presidential chief of staff Kang Hoon-sik to the region comes as the government has been seeking to secure crude oil as the traffic through the Strait of Hormuz has been effectively closed, wi…
New Delhi, April 6 (IANS) The government on Monday said that 16 Indian-flagged vessels with 433 Indian seafarers remain in the western Persian Gulf region, as in the past two days, two LPG vessels, Green Sanvi and Green Asha, safely crossed the Strait of Hormuz.The Directorate General of Shipping (DG Shipping) continues close monitoring in coordination with ship owners, RPSL agencies and Indian Missions, according to an official statement after the inter-ministerial briefing on West Asia.“DG S…
Seoul, April 3 (IANS) The ruling Democratic Party (DP) of South Korea and the government agreed on Monday to seek the dispatch of special envoys to Saudi Arabia, Oman and Algeria to secure crude oil as the Strait of Hormuz, a key oil shipping route, is effectively closed amid the US-Israeli war with Iran.The DP lawmakers and government officials are working to secure crude oil supplies through consultations with countries that have alternative routes, Rep. Ahn Do-geol told reporters after a cons…
New Delhi, April 5 (IANS) In their collective commitment to support oil market stability amid the West Asia crisis, the eight OPEC+ countries — Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman — on Sunday decided to implement a production adjustment of 206 thousand barrels per day in May — from the 1.65 million barrels per day additional voluntary adjustments announced in April 2023.The countries met virtually on Sunday to review global market conditions and outlook…
New Delhi, April 5 (IANS) The flight situation from the Gulf region to India continues to improve with 90 non-scheduled flights expected to arrive from the UAE on Sunday, according to an official statement. Flights are also operating from multiple airports in Saudi Arabia and Oman to India, while the Qatar airspace is partially open with around 8-10 flights expected to arrive on Sunday.While the airspace in Kuwait and Bahrain is closed, flights are operating via Dammam (Saudi Arabia) to India. T…
Seoul, April 5 (IANS) Finance Minister Koo Yun-cheol urged Gulf Cooperation Council (GCC) countries to strengthen cooperation to help stabilise energy and raw material supply chains amid prolonged tensions in the Middle East, the finance ministry said on Sunday.Koo, who also serves as deputy prime minister, met with ambassadors from the six GCC countries in Seoul on Friday at the residence of the United Arab Emirates (UAE) ambassador to discuss economic cooperation, according to the Ministry of …
New Delhi, April 4 (IANS) An India-bound LPG tanker has begun its journey through the strategically crucial Strait of Hormuz, offering some relief to concerns over energy supplies amid the ongoing West Asia conflict.The vessel, Green Salvi, is carrying more than 46,000 metric tonnes of liquefied petroleum gas (LPG) and is expected to exit the narrow waterway by early morning, according to the sources.The shipment is likely to play an important role in supporting India’s domestic cooking gas su…
Seoul, April 3 (IANS) South Korean stocks rose nearly 2.5 per cent late on Friday morning as Iran is said to be working on a protocol with Oman to monitor traffic through the Strait of Hormuz, raising hopes for the reopening of the crucial shipping waterway.The benchmark Korea Composite Stock Price Index (KOSPI) rose 128.99 points, or 2.46 percent, to 5,363.0, reports Yonhap news agency.The index opened 2.7 percent higher, rebounding from a sharp decline the previous session, and maintained its …