New Delhi, March 12 (IANS) Prime Minister Narendra Modi said on Thursday that the government is “doing everything possible” to safeguard India’s energy security amid the disruptions in oil and gas supplies caused by the Iran war.Addressing a media event here, PM Modi said that his government has worked in a holistic manner to make India “self-reliant” in the energy sector, which has resulted in huge savings for the country.”Before 2014, India had negligible storage capacity for strategic petrole…
Latest Petroleum Products News & Updates
Patna, March 11 (IANS) As fears of shortage of LPG and petroleum products triggered panic buying across Bihar, the Bihar Police stepped in to manage the situation and issued an alert directing authorities to prevent chaos and hoarding. Although the government has stated that LPG stocks are sufficient and there is no need to panic, anxiety remains high among residents.According to officials, the Special Branch of the Bihar Police issued an alert letter directing authorities to increase police pat…
New Delhi, March 10 (IANS) India is continuing to supply diesel to Bangladesh via pipeline from the Numaligarh refinery in Assam as part of the long-term agreement that is in place with the neighbouring country.The India-Bangladesh Friendship Pipeline was operationalised in 2017. It has been supplying diesel to Bangladesh on a commercial basis from the Numaligarh Refinery Ltd. This diesel supply is part of regular ongoing energy trade between the two countries, a senior official said.Meanwhile, …
Bengaluru/New Delhi, March 10 (IANS) Karnataka Deputy Chief Minister D.K. Shivakumar on Tuesday criticised the Central government over the shortage of cooking gas cylinders, alleging that it has remained silent despite the issue affecting several sectors across the country. Meanwhile, Union Minister of State for Micro, Small and Medium Enterprises and Labour and Employment Shobha Karandlaje said the shortage was linked to global geopolitical tensions and India’s dependence on imported petroleu…
New Delhi, March 10 (IANS) Assocham on Tuesday cautioned that a prolonged regional conflict in West Asia, amid escalating tensions involving the United States, Israel and Iran, could disrupt global trade and affect India’s energy supplies and exports.The apex industry chamber said India’s economy is closely linked to West Asian supply chains while also relying heavily on the Gulf region as a key export destination.The Middle East remains a major supplier of crude oil, liquefied natural gas (…
New Delhi, March 10 (IANS) As hotels and restaurants report commercial LPG shortage, the government has invoked the Essential Commodities (EC) Act to ensure the uninterrupted supply of domestic cooking gas, directing refineries and petrochemical units to maximise the production of LPG.The EC Act has been invoked to ensure divert key hydrocarbon streams to the LPG pool.Authorities have also asked these facilities to divert key hydrocarbon streams to the LPG pool in order to boost availability and…
New Delhi, March 3 (IANS) The government on Tuesday said that India has adequate stocks of crude oil and key petroleum products such as petrol, diesel and aviation turbine fuel (ATF) to handle any short-term disruptions arising from the ongoing hostilities in the Middle East.Briefing the media, Petroleum and Natural Gas Minister Hardeep Singh Puri said the country is fully prepared to deal with the evolving global energy situation. He assured that there is no immediate cause for concern as India…
Seoul, Jan 21 (IANS) South Korea’s exports expanded 14.9 per cent from a year earlier in the first 20 days of this month, driven by strong demand for semiconductors, data showed on Wednesday.Outbound shipments reached US$36.36 billion in the January 1-20 period, compared with $31.63 billion tallied over the same period last year, according to the data from the Korea Customs Service, reports Yonhap news agency.Imports increased 4.2 per cent on-year to $36.98 billion during the period, resulting i…