New Delhi, May 22 (IANS) Commerce and Industry Minister Piyush Goyal on Friday co-chaired a meeting with Minister of Ports, Shipping and Waterway, Sarbananda Sonowal, to directly engage with India’s exporters, importers and port authorities to facilitate the smoother flow of trade amid the disruption in ship movement and uncertainties in global markets due to the Middle East conflict.“We are committed to ensuring coordinated, time-bound measures to address concerns and create opportunities to …
Latest Petroleum Products News & Updates
Islamabad, May 15 (IANS) The business community in Pakistan’s Peshawar held a protest rally against the smart lockdown imposed by the government, local media reported on Friday. The protest, led by the Khyber-Pakhtunkhwa Traders’ Organisation, witnessed participation of a large number of shopkeepers and businessmen, who shouted slogans and called for an immediate rollback of the lockdown, a reduction in petroleum product prices, and taking immediate measures to curb inflation, Pakistan’s daily T…
Imphal, May 12 (IANS) The Manipur government on Tuesday clarified that there is no shortage of Liquefied Petroleum Gas, petrol, and diesel in the state, while warning of strict action against black marketing, hoarding, and other malpractices involving petroleum products. Director of the Consumer Affairs, Food and Public Distribution Department, Yumnam Nelson, said the department has noticed the circulation of misinformation alleging a shortage of Liquefied Petroleum Gas and other petroleum pr…
New Delhi, May 12 (IANS) The Centre has reduced the royalty burden on crude oil and casing head condensate production from offshore deepwater and ultra-deepwater blocks, according to revised royalty provisions notified in the latest schedule under the oil and gas regime.Under the revised structure, royalty for deepwater areas has been fixed at 5 per cent for the first seven years from the commencement of commercial production and 10 per cent from the eighth year onwards.For ultra-deepwater block…
New Delhi, May 11 (IANS) There is no shortage of petrol, diesel or LPG in the country as the oil refineries have sufficient crude stocks for optimum production of these fuels, despite the disruption in shipping due to the closure of the Strait of Hormuz, a senior Petroleum Ministry official said on Monday.”In the past three days, against 1.14 crore LPG bookings, cylinders have been delivered to 1.26 crore households. Similarly, more than 17,000 tonnes of commercial LPG have been sold in the past…
New Delhi, May 11 (IANS) The seven appeals made by Prime Minister Narendra Modi to the nation would go a long way to build and strengthen India’s journey towards Viksit Bharat, leading industry chamber Assocham said on Monday.PM Modi’s appeal to the people for collective participation to help the country deal with global economic disruptions, supply chain challenges and rising prices caused by international conflicts has, thus, emphasised prudence in the usage of petroleum products and reduc…
New Delhi, May 11 (IANS) NDA leaders have backed Prime Minister Narendra Modi’s appeal to citizens to conserve fuel, reduce unnecessary travel, avoid non-essential gold purchases, and adopt work-from-home practices where possible, in view of ongoing global energy uncertainties triggered by geopolitical tensions.Backing the Prime Minister’s message, JD(U) National Working President and Rajya Sabha MP, Sanjay Jha, said India has so far managed the situation effectively despite global disruptio…
New Delhi, May 8 (IANS) More than 97 lakh domestic LPG cylinders were delivered against bookings of around 87.66 lakh cylinders in the last two days, with online bookings for cooking gas rising to 99 per cent, according to an update issued by the Ministry of Petroleum and Natural Gas on Wednesday.The supply of domestic LPG is normal, with 95 per cent of the deliveries based on the authentication code sent to registered mobile numbers of consumers to prevent diversion at the distributor level. No…
New Delhi, May 6 (IANS) India’s total exports of merchandise and services increased by 4.6 per cent to a record high of $863.11 billion during the financial year 2025-26, compared with the corresponding figure of $825.26 billion for the previous fiscal year, despite the US tariff turmoil and uncertainties triggered by geopolitical tensions, the latest figures compiled by the Commerce Ministry showed.Merchandise exports registered a 0.93 per cent growth to $441.78 billion during the financial yea…
Seoul, May 6 (IANS) South Korea’s consumer prices rose at the fastest pace in 21 months in April, driven by soaring fuel costs amid the Middle East conflict, government data showed on Wednesday.Consumer prices, a key gauge of inflation, increased 2.6 percent from a year earlier last month, according to the data from the Ministry of Data and Statistics. It marks the largest on-year increase since July 2024, when inflation climbed 2.6 percent, reports Yonhap news agency.The latest rise was driven …