The government has withdrawn most provisions of the emergency natural gas supply regulation order imposed during the West Asia conflict after liquefied natural gas (LNG) shipments through the Strait of Hormuz resumed following a ceasefire.
A Liquefied Natural Gas (LNG) carrier, chartered by an Indian firm, safely transited through the Strait of Hormuz -- the first Indian LNG tanker to cross the war-hit narrow shipping lane since the war in West Asia broke out more than three and a half months back.
Prime Minister Narendra Modi has highlighted the risks posed by the 'weaponisation' of resources and strategic sea routes, urging India to achieve greater self-reliance in energy to mitigate vulnerabilities to overseas supplies and geopolitical tensions.
State-owned Coal India Ltd (CIL) and ArcelorMittal Nippon Steel India (AMNS) have signed an MoU to explore setting up a coal gasification plant near AMNS's Paradip pellet plant in Odisha. This initiative aims to produce synthesis gas for cleaner steel production, reduce reliance on imported fuels, and align with India's goal of gasifying 100 million tonnes of coal by 2030, supported by a Rs 37,500-crore government incentive scheme.
India's plans to ration the consumption of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) - in response to reduction in their import owing to war in West Asia - may fall short of what is needed to meet domestic needs.
China sailed through the crisis in the Strait of Hormuz relatively unscathed even as the impact of its steps shielded other consuming nations from having to pay high crude oil prices.
United States Central Command (CENTCOM) forces have conducted a 'heavy wave of strikes' against numerous Islamic Revolutionary Guard Corps (IRGC) targets in Iran. This action was a direct response to attempted Iranian missile strikes on US forces in West Asia, which were successfully intercepted. The strikes targeted IRGC military command centres, missile and drone facilities, coastal surveillance, and maritime capabilities, aiming to reduce threats posed by Iran and its proxies. US President Donald Trump also issued strong warnings to Tehran, linking the escalation to a recent drone strike on an LNG vessel in Egypt's Damietta Port.
Qatar has halted liquefied natural gas (LNG) production after its facilities came under attack amid the ongoing West Asia conflict, disrupting supplies to India and squeezing feedstock availability for key domestic sectors.
India is significantly expanding its crude oil sourcing to Latin America, with Venezuela emerging as a major supplier, as geopolitical disruptions in the Middle East and the Strait of Hormuz compel the world's third-largest oil consumer to diversify its energy supplies.
'Energy prices would shoot up with the closure of Hormuz again.'
Donald Trump has issued a stern warning to Iran, threatening massive retaliation if it attacks Qatar again, following reports of an Israeli strike on Iran's South Pars gas field and an attack on Qatar's LNG facilities.
India significantly increased its crude oil imports from Russia and the United Arab Emirates in June, securing supplies as the Strait of Hormuz began to reopen, with Russian barrels remaining attractive due to discounts and UAE supplies offsetting earlier uncertainties.
India could save $1 billion in crude oil imports annually if the country switches 10 per cent of its diesel usage in the transport sector to liquefied natural gas.
Russian Foreign Ministry spokesperson Maria Zakharova described the incident as a 'gross violation of international law' with potentially 'grave consequences'.
Despite decades of efforts towards energy transition, oil will remain the critical energy source for all nations for some decades. We can hope for peace opening the Strait of Hormuz, but must prepare for war closing it, points out former foreign secretary Ranjan Mathai.
A recently finalised peace deal between the US and Iran, set to be signed on June 19, is expected to significantly benefit India's economy by boosting exports to West Asia, stabilising the rupee, and easing inflationary pressures, according to exporters and experts.
US President Donald Trump has abruptly withdrawn from a peace deal with Iran, citing fresh intelligence of Iranian assaults on commercial vessels in the Strait of Hormuz. The decision, made just a fortnight after celebrating the deal, has led to a significant military escalation in the region, with the US launching extensive counter-operations against Iranian military infrastructure.
An explosion at the Barzan local gas supply facility in Ras Laffan Industrial City, Qatar, resulted in the deaths of 13 people, including Indian and Pakistani nationals, and injured 66 others. The incident, attributed to a technical malfunction during start-up operations, prompted immediate response from Qatari authorities and an offer of assistance from the Indian Embassy.
Analysts predict that developments in US-Iran negotiations, fluctuations in crude oil prices, and key global economic data will be the primary drivers of gold and silver prices in the coming week, with a strong focus on talks in Switzerland.
'The real shock is going to be from a deficient monsoon.'
The reopening of the Strait of Hormuz, following a ceasefire agreement between the US and Iran, is expected to significantly ease India's crude oil supply risks, lower freight costs, and reduce inflationary pressures, as global oil prices have already dropped.
'OMCs are incurring losses of Rs 1,000 crore per day due to the West Asia crisis.'
India is the only significant power that all parties trust, or at least do not distrust, notes former defence secretary Ajay Kumar.
Moody's Ratings has reduced India's GDP growth forecast for 2026 to 6 per cent, citing subdued private consumption, capital formation, and industrial activity due to higher energy costs and global uncertainties.
US President Donald Trump's call to Prime Minister Narendra Modi signals a concerted effort to reset strained Washington-New Delhi ties, with a focus on 'big-ticket' energy and trade deals, including increased Indian imports of US LNG and LPG, and potential cooperation on small modular reactors.
Qatar, India's largest supplier of imported natural gas, has declared force majeure on deliveries following a halt in production in the wake of an Iranian drone strike -- a disruption that has led to a cut in supplies to Indian industry by up to 40 per cent, sources said.
As tensions in the Middle East approach a critical juncture, reports have surfaced regarding a draft memorandum of understanding between the United States and Iran aimed at de-escalating the ongoing conflict, Iranian state media reported on Wednesday.
India possesses two months of fuel stockpiles and faces no supply concerns despite global energy disruptions, according to Oil Minister Hardeep Singh Puri. However, state-run fuel retailers are incurring losses of up to Rs 1 lakh crore in a single quarter due to elevated crude prices and unchanged retail fuel prices, raising questions about the sustainability of these losses.
'The West Asia or the Gulf crisis has shown that what we develop as national infrastructure when things are not as bad as they could be, we forget to plan for adversities.'
The escalating conflict in West Asia has resulted in 19 ships carrying essential energy resources for India being stranded in the Strait of Hormuz, raising concerns about potential disruptions to the country's energy supply.
The Quad grouping has expanded cooperation in critical minerals and energy, while unveiling new measures to boost maritime surveillance and port infrastructure across the Indo-Pacific. This move comes against the backdrop of China's growing military posturing in the region, with ministers reiterating strong opposition to destabilising actions and expressing serious concerns over militarisation of disputed features.
18 Indian-flagged vessels with 485 Indian seafarers still remain in the western Persian Gulf region
The escalating crisis in West Asia and its impact on the global energy supply chain are expected to dominate deliberations at a two-day meeting of BRICS foreign ministers to be hosted by India.
Iranian Foreign Minister Abbas Araghchi is in India for a BRICS foreign ministers' meeting, where discussions will focus on the escalating crisis in West Asia and its impact on global energy supply chains.
Prime Minister Narendra Modi has offered India's support to bring peace to West Asia during talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan. Both countries signed agreements to strengthen strategic collaborations in energy and defence.
The Indian government has revised its natural gas allocation priorities, placing LPG production alongside CNG and piped cooking gas at the top, due to disruptions in imported gas supplies caused by the conflict in West Asia.
Hundreds of Indian seafarers are stranded on vessels carrying crude oil, LPG, and LNG in the Persian Gulf due to the ongoing conflict in the Middle East, causing disruptions to India's energy supplies.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
A senior Iranian legislator has suggested that Tehran could further escalate pressure on its adversaries by targeting the Bab el-Mandeb Strait, raising concerns about global supply chain vulnerabilities.
Iranian Deputy Foreign Minister Kazem Gharibabadi has urged India to take the lead in bringing peace to West Asia, highlighting the UAE's role in stalling BRICS consensus on the conflict. Gharibabadi also discussed a new framework with Oman for merchant vessels passing through the Strait of Hormuz.
