New Delhi, April 30 (IANS) India is likely to see an incremental cumulative capex of $800 billion over the next five years across defence, data centres and energy transition due to the Middle East conflict and its investment‑rate will touch 37.5 per cent of GDP in FY2030, a report said on Wednesday.The report from Morgan Stanley said about 60 per cent of the incremental capex is likely to be allocated to energy transition, data centres and defence.”In this context, we remain constructive on In…
Latest Strategic Petroleum Reserve News & Updates
New Delhi, April 13 (IANS) Bangladesh is facing a major economic shock due to the disruption in oil and gas supplies through the Strait of Hormuz in the wake of the Iran war, as the country is heavily dependent on imports for its energy needs, according to an article in the local media. Years of relying on imported energy, along with slow progress toward renewable alternatives, have tied the economy to volatile global currents. When those currents turn turbulent, the exposure is immediate and un…
New Delhi, March 23 (IANS) Prime Minister Narendra Modi on Monday said that India has transformed every sector and is now moving ahead on a fast track of development, with visible results replacing slow progress of the past.Addressing an event here, the Prime Minister said that India today has more than 160 airports, reflecting the rapid expansion of infrastructure across the country.He noted that while plans were made earlier as well, the key difference now is that outcomes are clearly visible …
Washington, March 19 (IANS) The United States is considering a series of emergency energy measures, including releasing more crude from its strategic reserves and easing restrictions on Iranian oil, as the White House moves to contain rising prices after fresh disruptions in global supply. Treasury Secretary Scott Bessent, in separate interviews with Bloomberg and Fox News, said the administration had prepared contingency plans in advance of potential chokepoints in global oil flows, particul…
Washington, March 13 (IANS) The world is facing a “significant disruption in the short term” to secure global energy flows in the long run, US Energy Secretary Chris Wright said, defending Washington’s decision to release oil reserves amid the war involving Iran.“We’re in the midst of a significant disruption in the short term to fix the security of energy flow for the long term,” Wright said in an interview with CNN.The United States has announced plans to release about 172 million …
Mumbai, March 12 (IANS) Global oil prices surged sharply on Thursday as markets remained worried about supply disruptions linked to the ongoing tensions in the Middle East. The rally in crude prices came despite the announcement of the largest coordinated release of emergency oil reserves by the International Energy Agency.Benchmark crude prices climbed more than 8 per cent during the day. West Texas Intermediate rose around 8.8 per cent to trade near $95 per barrel, while Brent crude gained abo…
Washington, March 12 (IANS) US Energy Secretary Chris Wright said energy markets could face short-term disruption as the conflict involving Iran affects oil flows, but insisted the impact would likely be temporary and that military operations would eventually stabilise global energy supplies.Speaking in separate television interviews — Fox News and News Nation — Wright on Wednesday (local time) said the United States and its partners were releasing strategic petroleum reserves while the US m…
Washington, March 12 (IANS) The United States will release 172 million barrels of oil from its Strategic Petroleum Reserve over the next four months, part of a coordinated international effort by major economies to stabilise energy markets as conflict in the Middle East pushes global prices higher.The announcement came from the US Department of Energy after 32 member nations of the International Energy Agency agreed to release a combined 400 million barrels of oil and refined products from natio…
Washington, March 12, (IANS) The White House pushed back sharply against critical reporting in major US newspapers on the Trump administration’s handling of the war with Iran and its impact on global energy markets, accusing the media of spreading a “fake narrative” about the objectives of the military campaign.Press Secretary Karoline Leavitt said reports suggesting confusion or “mixed messaging” about the goals of Operation Epic Fury were incorrect.“The left-wing media is lying and…
Washington, March 12 (IANS) US President Donald Trump said the United States could destroy Iran’s electricity infrastructure within an hour if it chose to escalate the conflict, while also revealing that authorities were investigating a possible Iranian revenge plot involving drones launched from a boat off the California coast.Trump made the remarks to reporters at Joint Base Andrews after returning from a political trip to Kentucky and Ohio, offering a blunt assessment of the ongoing war wit…