British armed forces, including Royal Marine Commandos, intercepted the Russian shadow fleet oil tanker SMYRTOS in the English Channel, marking the UK's first such operation. The action aims to disrupt Russia's funding for its war in Ukraine, with the UK government highlighting the shadow fleet's role in sustaining Moscow's military efforts.
Indian benchmark equity indices experienced a significant downturn, with the Sensex plummeting over 800 points and the Nifty falling sharply, driven by rising crude oil prices, geopolitical tensions, and foreign capital outflows.
'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.'
However, no formal confirmation of the meeting and the issues discussed could be obtained from either group.
Fuel prices have risen by about Rs 7.5 per litre since May 15, as global crude oil prices surged due to the ongoing conflict in West Asia and supply concerns around the Strait of Hormuz.
India is well-stocked with inventories of crude oil and key petroleum products, including petrol, diesel, and aviation turbine fuel (ATF), to deal with short-term disruptions as the war intensifies in West Asia, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday.
The United States and India are on the verge of finalising a landmark bilateral trade deal, aiming to boost trade to USD 500 billion by 2030, according to US Deputy Assistant Secretary of State Bethany Poulos Morrison. The agreement seeks to open India's 1.4 billion-strong market to American goods on reciprocal terms, with ongoing high-level discussions to recalibrate the pact after recent changes in US tariff policy.
'Historically, India has depended on the Middle Eastern Gulf for nearly 90 per cent of its LPG imports. Shifting to alternative suppliers is not something that can happen quickly.'
Prime Minister Narendra Modi held a virtual meeting with chief ministers to review preparedness and plans in light of the West Asia conflict, emphasising the importance of national unity and enhanced security measures.
India's peak power demand is projected to hit 270 GW this summer, surpassing last year's record of 250 GW.
Researchers at CSIR-NCL have developed a technology for producing dimethyl ether (DME) as an alternative to liquefied petroleum gas (LPG), potentially reducing India's reliance on imports and enhancing energy security.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
A truck driver was killed and a police constable injured in Manipur's Ukhrul district when suspected militants attacked a convoy of goods vehicles. The Chief Minister condemned the attack and vowed to restore peace.
An Indian-flagged crude oil tanker, Jag Laadki, safely sailed from the UAE's Fujairah port despite an attack on the terminal and is scheduled to reach India. The Indian government is working to ensure the safe passage of remaining Indian-flagged vessels in the region.
Reliance Industries has inked deals to supply gas from its eastern offshore KG-D6 fields to most power sector consumers, including Essar Power and an Anil Ambani Group firm.
A convoy of India-bound ships carrying crude oil and gas was stopped by the Iranian Revolutionary Guard Corps (IRGC) in the Strait of Hormuz, leading to several vessels returning to the Persian Gulf.
The Rs 3,200-crore (Rs 32 billion) Hazira LNG Pvt Ltd is expecting to land itself long term gas supply contracts to various domestic fertiliser and power producers, including the Dabhol project, by the end of this year.
Adani Group has agreed to pay USD 275 million to settle allegations of violating US sanctions on Iran. The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) acknowledged the Indian conglomerate's extensive cooperation and proactive disclosures during the investigation.
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.
Despite ongoing tensions in West Asia, the successful arrival of the LPG carrier 'Nanda Devi' in Gujarat ensures a steady supply of liquefied petroleum gas to India, highlighting the country's efforts to secure its energy needs.
Steel manufacturers on Wednesday hit out at 'unilateral' decision of the Oil Ministry to curb natural gas supplies from Reliance Industries' KG-D6 fields to non-core users, saying only a ministerial panel was empowered to take such decision.
Delhi Police busted an illegal LPG refilling and hoarding racket in Nangloi, seizing 96 domestic gas cylinders, vehicles, and equipment. Three people were arrested for diverting LPG cylinders meant for delivery and illegally refilling and selling them in the open market.
Indian oil marketing companies are incurring significant losses, selling petrol at a Rs 14 per litre loss and diesel at Rs 18 per litre, as elevated global crude oil prices, exacerbated by the West Asia crisis, outpace capped retail fuel rates, according to rating agency Icra.
China has called on Iran to reopen the Strait of Hormuz and expressed appreciation for Tehran's commitment not to develop nuclear weapons, a key demand of the US to end the conflict.
"There is a sharp jump that we have seen in bookings of EVs... The jump, at least in our case, in just two months, it is about 2 to 2.5 times of what it used to be"
The closure of the Strait of Hormuz has disrupted some 20 per cent of the global flows but even if it opens, damages to production facilities in the region will take time to repair, points out Sunita Narain.
Maharashtra Chief Minister Devendra Fadnavis rode a motorcycle to work following Prime Minister Modi's appeal to cut down fuel consumption amid the ongoing conflict in West Asia.
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.
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.
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.
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.
State-run Bharat Petroleum Corporation Ltd (BPCL) plans a significant capital expenditure of 25,000 crore for the financial year 2026-27, primarily for ongoing expansion projects. The company also stated that the recent 4-per-litre price hike in petrol and diesel has provided some financial relief amidst volatile crude oil prices and mounting losses.
India has denied making any payments to Iran to secure safe passage for its vessels through the Strait of Hormuz, following reports that Indian vessels were fired upon in the region.
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.
India's pharmaceutical industry is experiencing increased bulk drug prices, particularly for APIs from China, following the escalation of the West Asia crisis in March. While current inventories provide a temporary buffer, concerns are mounting over the availability of key solvents and feedstocks, potentially leading to manufacturing disruptions and shortages in specific drug categories.
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.
Reliance from 0600 hours today began complying with an oil ministry order asking it to first supply gas produced from eastern offshore KG-D6 fields to priority users -- urea making fertiliser plants, electricity generation houses, LPG extraction units and city gas distribution firms.
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.
Each of these photographs tells a powerful story through the universal language of food!
