Washington, April 9 (IANS) A global oil shock linked to the Middle East conflict is set to hit growth and stoke inflation across energy-importing economies, the International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned on Thursday. In her curtain raiser speech ahead of the Annual Spring Meeting of the IMF, Georgieva said the disruption has cut the world’s daily oil flow by about 13 per cent and liquefied natural gas (LNG) supply by 20 per cent, triggering a broad-based rise…
Latest Ras Laffan News & Updates
Doha, March 19 (IANS) Qatar on Thursday strongly condemned “Iran’s aggression” and demanded immediate cessation of hostilities asserting that increasing hostilities and escalating the war will only lead to further destabilization of the region. Addressing the media jointly with his Turkish counterpart Hakan Fidan in Doha, Qatar’s Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani mentioned that Iran’s claim that it is targetting US bases is “unacceptable and unjustif…
Mumbai, March 19 (IANS) Indian equity markets opened sharply lower on Thursday, tracking weak global cues as escalating geopolitical tensions in the Middle East triggered a surge in crude oil prices.Sensex plunged 1,953 points or 2.55 per cent to 74,750, while Nifty also witnessed heavy selling pressure, declining 580 points or about 2.4 per cent, before recovering a bit in early trade.Among stocks, HDFC Bank, Shriram Finance, Larsen & Toubro (L&T), TMPV, Axis Bank, HDFC Life and IndiGo …
New Delhi, March 6 (IANS) Qatar’s Energy Minister Saad al-Kaabi has warned that war in the Middle East continuing for a “few days” could cause Gulf exporters declaring force majeure, halting deliveries, pushing oil to $150 a barrel and natural gas to $40 per MMBtu (Metric Million British Thermal Unit) within weeks.”Everybody that has not called for force majeure we expect will do so in the next few days if this continues. All exporters in the Gulf region will have to call force majeure,” the m…
New Delhi, March 6 (IANS) Nearly 69 per cent of domestic liquefied natural gas (LNG) imports in 2025 or 17.5 million tonnes (63 mmscmd), came from West Asian countries such as Qatar, the UAE and Oman — passing through or near the Strait of Hormuz, a report said on Friday.Even after adjusting for GAIL’s US LNG swap volumes, effective exposure moderates to 66 per cent, which means concentration risk remains significant, Elara Capital analysts said in the report.The report noted that any disrupt…
New Delhi, March 5 (IANS) GAIL (India) Limited on Thursday said the allocation of liquefied natural gas (LNG) from Petronet LNG Limited under a long-term contract has been reduced to zero after the supplier issued a force majeure notice due to disruptions linked to maritime navigation restrictions in the Strait of Hormuz and possible shutdown of facilities in Ras Laffan.In a regulatory filing, the company said Petronet LNG issued the force majeure notice on March 3 under the Gas Sale and Purchas…