Indian restaurants are grappling with a severe LPG shortage due to the West Asia conflict, forcing them to innovate with menus and cooking methods or face potential closures, impacting the food industry and consumers across the country.
'OMCs are incurring losses of Rs 1,000 crore per day due to the West Asia crisis.'
The MoU says the gas supply agreement is with Reliance Energy and for the Dadri power project, senior counsel Harish Salve representing RIL said. "Nowhere does it say that the gas will go to RNRL," Salve told the division bench of Justices J N Patel and K K Tated. REL and RNRL are both Anil Ambani group companies.
Tata Steel reported a significant 124.9 per cent year-on-year increase in consolidated net profit to 2,925.74 crore for the fourth quarter of FY26, driven by higher volumes and an improved product mix in India, alongside planned cost reductions across its global operations.
A prolonged supply shock can transmit to lower incomes, and dampen confidence and sentiment, warns Aditi Nayar, chief economist, head-research and outreach, ICRA.
Petrol and diesel prices in India have been increased for the second time in a week, following a long freeze on revisions. The increase comes as global crude prices surge and state-run oil firms look to recoup losses.
Suzuki Motorcycle India Ltd (SMIPL) has revised its domestic two-wheeler sales growth estimate for FY27 downwards from 7-8 per cent, citing rising commodity costs due to the ongoing West Asia conflict and its impact on consumer affordability.
We cannot simply have a 60-65 per cent import dependency in LPG, the bulk of which comes from just one volatile region -- West Asia, points out R Jagannathan.
A new study suggests that using basalt rock instead of limestone in cement production could significantly reduce carbon dioxide emissions, offering a pathway to a greener construction industry.
Delhi Police busted two illegal LPG hoarding and refilling rackets, seizing 125 cylinders and arresting three delivery agents.
A Thai cargo vessel was struck by missiles near the Strait of Hormuz, leaving three crew members missing and prompting a rescue operation by the Royal Navy of Oman.
India's wholesale price inflation surged to 8.30 per cent in April, up from 3.88 per cent in March, primarily driven by a significant increase in the prices of fuel, power, and crude petroleum, according to data from the commerce and industry ministry.
Two India-bound LPG tankers have crossed the Strait of Hormuz amid heightened tensions in the region, while an India-flagged vessel sank after being hit near the strategic shipping corridor.
The University of Sheffield has announced a major milestone in the push for greener aviation as it produces its first report from testing a new sustainable aviation fuel (SAF). The research is helping support the faster rollout of low-carbon jet fuels.
Rahul Gandhi accuses the government of compromising India's energy security by allowing the US to dictate oil supply relationships, raising concerns about the impact of global conflicts on India's energy access.
Foreign secretary Vikram Misri on Friday shared key details on agreements between India and the UAE, stating that the UAE will store up to 30 million barrels of crude oil in India's strategic petroleum reserve following Prime Minister Narendra Modi's visit.
External Affairs Minister S Jaishankar has emphasised India's commitment to safe maritime transit and condemned attacks on merchant shipping amidst the ongoing West Asia conflict and global energy market disruptions.
India's largest private refiner, Reliance Industries Ltd, successfully navigated a volatile energy market in the last quarter of FY26 by diversifying crude sourcing and demonstrating operational agility, particularly in response to geopolitical disruptions and cost fluctuations.
'When we start describing somebody as an enemy that is the start of politics and emotion after which no business can take place.' 'We need to get out of this, allow Indian businessmen to do business with China.'
The Ministry of External Affairs informed a parliamentary committee that nearly 1,000 Indians remain in Iran amidst the West Asia conflict, and 23,000 students in the Gulf region missed CBSE exams due to the turmoil.
The ongoing West Asia conflict is expected to severely impact the supply of affordable housing in India, as rising input costs further erode already thin developer margins. Fluctuations in crude oil and gas prices, coupled with higher freight costs, are driving up prices of essential construction materials like cement and steel, making new projects increasingly unviable for developers.
Congress leader Rahul Gandhi criticised Prime Minister Narendra Modi for gifting 'Melody' toffees to Italian Premier Giorgia Meloni, calling it a 'gimmick' while India faces an 'economic storm'. He accused Modi of prioritising public relations over addressing the struggles of farmers, labourers, and youth, a sentiment echoed by other Congress leaders.
The Indian government is actively developing a policy for flex-fuel vehicle adoption and aiming for 100 per cent ethanol blending in petrol to enhance energy self-reliance, particularly in light of supply disruptions from the West Asia conflict.
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
The Iranian Foreign Ministry has stated that Tehran currently has no plans for a subsequent round of negotiations with the United States, according to the state media Tasnim news agency. This announcement comes as international mediators had hoped for a follow-up to the Islamabad talks before the looming ceasefire deadline.
The Indian government has implemented several measures to mitigate external risks, support the balance of payments, and maintain macroeconomic stability amidst the ongoing West Asia crisis, according to Minister of State for Finance Pankaj Chaudhary.
Prime Minister Narendra Modi addresses the Rajya Sabha, detailing India's strategies to navigate the global energy crisis sparked by the West Asia conflict, including securing diverse energy sources and expanding strategic oil reserves.
Defying high court orders, oil PSU executives on Wednesday stopped work forcing stoppage of natural gas supplies to industries on the nation's main trunk pipeline but aviation services and fuel supplies continued to be normal.
An Indian-flagged crude tanker safely departed from the UAE's Fujairah after loading oil, despite an attack on the oil terminal. The Indian government is closely monitoring the situation in West Asia to ensure stable fuel supplies and maritime safety.
The government has dismissed speculation of an imminent increase in petrol and diesel prices, assuring citizens that there are no plans for a hike despite rising crude oil costs.
'In all these years of rupee depreciation, of rising oil prices, of inflation caused by import dependence, not one leader had the courage to look the people in the eye and say: Please do this for your country.'
India has expressed strong concern over the targeting of commercial shipping in the Strait of Hormuz during the West Asia conflict, urging for the restoration of unimpeded navigation and global commerce.
Delhi Police arrested three individuals in Shaheen Bagh for allegedly hoarding and black marketing domestic LPG cylinders. The accused were caught after a raid and found to be illegally transferring subsidised gas for profit.
Analysts are revising down India Inc's financial year 2026-27 (FY27) earnings growth forecasts, citing persistently high crude oil prices above $100 a barrel due to the West Asia conflict, which is expected to dent corporate financial performance in the coming quarters.
The rupee recovered to 95.18 against the US dollar after hitting an all-time intra-day low of 95.44. The recovery was supported by possible RBI intervention amid renewed Gulf tensions and rising crude oil prices.
TVK founder Vijay, upon becoming Chief Minister, approved free electricity units and special forces for women's safety and anti-drug efforts. He pledged a commitment to secularism and social justice, asserting his authority as the sole power centre.
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.
Prime Minister Narendra Modi has begun a six-day tour of the UAE, the Netherlands, Sweden, Norway and Italy to strengthen bilateral relations amid geopolitical challenges. The trip will focus on energy security, trade, and technological cooperation.
GAIL (India) Ltd has pre-poned the supply of gas from the US and is looking to contract more LNG next year as it doubles down efforts to secure affordable energy supplies to meet the needs of Asia's third-largest economy, chairman Manoj Jain said. India's No.1 gas transporting and marketing firm has long-term liquefied natural gas (LNG) supply contracts from the US to Australia and with Russia, supplementing domestic gas supplies. "In 3Q (October-December 2021) we preponed a couple of cargoes (LNG shiploads) from supplies that we were to receive next year and we did it again in the current quarter," Jain told PTI. This is because US LNG costs one-third of the price of gas available in the spot or current market.
Live updates on the US-Israel-Iran war: Trump escalates threats, Iran retaliates, and oil prices surge as the Strait of Hormuz crisis disrupts global markets.
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