The Indian government has allocated an additional 40,000 kilolitres of kerosene to states as an alternative fuel to LPG, amid the ongoing crisis in West Asia. The government assures a comfortable crude oil supply situation in the country.
The Central government has assured the Bombay High Court that it is taking steps to address the LPG shortage caused by the conflict in West Asia. The court accepted the submission and disposed of a petition filed by LPG distributors.
'Nobody explained why. After that there was panic buying, there was hoarding -- and then nothing reached us.'
Analysts warn that global markets are significantly underpricing the risk of an oil price shock, with Brent crude potentially soaring to $150 per barrel if the West Asia conflict escalates or damages critical oil and gas infrastructure. This could lead to severe inflation and economic repercussions, particularly for import-dependent nations like India.
The US has granted India permission to buy Russian oil already in transit to ease global supply pressures amidst the West Asia conflict. This decision comes after India agreed to halt sanctioned Russian oil purchases and substitute them with US oil.
Prime Minister Narendra Modi will hold a video conference with chief ministers of most states to assess their preparedness and strategies in response to the ongoing conflict in West Asia.
AICC general secretary Sachin Pilot has accused Kerala Chief Minister Pinarayi Vijayan of following similar political approaches to Prime Minister Narendra Modi, alleging a tacit understanding between the CPI(M) and the BJP in Kerala.
The ministry of petroleum and natural gas on Friday reiterated that India has sufficient stock of crude oil, petrol and diesel, while ensuring an uninterrupted supply of LNG and LPG despite disruptions caused by the ongoing West Asia conflict.
There is no cause for concern, as the overall situation arising out of the crisis is firmly under control, the Centre informed while briefing political parties at the all-party meet.
'There is no shortage of fuel whatsoever.' 'India is stock surplus as far as petrol and diesel are concerned.'
Argentina has significantly increased its LPG exports to India to help mitigate shortages caused by the ongoing conflict in West Asia. This partnership is becoming increasingly important for India's energy security.
India's merchandise exports experienced a slight decrease in February, while imports surged due to increased gold and silver purchases, leading to a widened trade deficit. The West Asia crisis is expected to further impact trade in the coming months.
India's peak power demand is projected to hit 270 GW this summer, surpassing last year's record of 250 GW.
The Indian government has directed oil refineries to increase LPG production to ensure a stable supply of domestic cooking gas, amidst concerns over potential disruptions from the escalating Middle East conflict and its impact on imports.
24 Indian-flagged vessels with 677 Indian seafarers were currently located west of the Strait of Hormuz, and four vessels with 101 Indian seafarers were stationed east of the strategic waterway.
India possesses approximately 100 million barrels of commercial crude oil stocks, capable of covering 40-45 days of its requirements if flows through the Strait of Hormuz are disrupted, according to Kpler.
If the conflict continues for a prolonged period, State-run oil companies may have to review retail fuel prices accordingly.
Two officials at a Hindustan Petroleum Corporation Limited (HPCL) ethanol plant in Budaun, Uttar Pradesh, were shot dead, allegedly by a blacklisted vendor. The incident occurred after the vendor was removed from his position due to unsatisfactory work.
Analysts predict India will face oil price volatility and macroeconomic effects due to the escalating Iran crisis, though the country's oil supply chain is not yet structurally insecure.
'It would be similar to what happened during COVID-19.' 'They are not just losing income, but being pushed into distress.'
Manav Thakkar and Yashaswini Ghorpade secured their first senior national table tennis titles at the championships held in Indore, while Ankur Bhattacharjee and Suhana Saini won the mixed doubles final, and Divyanshi Bhowmick received the D Vishwa Trophy.
Bessent indicated that the U.S. is evaluating the status of Iranian oil as the current campaign progresses.
India continues to face LPG supply challenges for the third consecutive week due to disruptions caused by the West Asia conflict, though panic buying is showing signs of easing. The government is prioritising domestic household supplies and encouraging alternative fuel sources.
Authorities in Budaun, Uttar Pradesh, demolished shops belonging to the prime suspect in the murder of two HPCL officials, citing illegal construction on government land. The demolition follows the murder of two HPCL officials allegedly by a terminated vendor.
Bangladesh is importing 5,000 tonnes of diesel from India through a cross-border pipeline on Tuesday, according to officials. The fuel consignment will enter Bangladesh through the Parbatipur point, said Muhammad Rezanur Rahman, chairman of the Bangladesh Petroleum Corporation (BPC).
The Delhi high court has ordered the removal of defamatory social media content falsely linking Union Minister Hardeep Singh Puri's daughter to convicted sex offender Jeffrey Epstein, protecting her reputation from malicious online attacks.
Responding to concerns raised by Leader of the Opposition Rahul Gandhi in the Lok Sabha, Petroleum Minister Hardeep Puri said it is the foremost priority of the government that the kitchens of over 33 crore families, especially the poor and the underprivileged, do not face any shortage of gas.
The Ministry of External Affairs (MEA) has stated that Prime Minister Narendra Modi and External Affairs Minister S Jaishankar are actively engaged with world leaders to promote dialogue and diplomacy for peace in West Asia, while also ensuring the safety and well-being of the Indian community in the region.
The International Energy Agency (IEA) has proposed immediate demand-side measures, including remote work, lower speed limits, and reduced air travel, to mitigate the impact of a global oil supply shock caused by Middle East disruptions.
Delhi should keep all its options open in what is essentially a transitional period in the geopolitics of energy rather than remain a gatekeeper serving Trump's 'America First', suggests Ambasssador M K Bhadrakumar.
An FIR has been filed against a gas agency in Lucknow for allegedly illegally storing domestic LPG cylinders and attempting to sell them on the black market.
He added that opposition parties were assured that their concerns regarding the impact of the West Asia situation on India and the safety of Indian citizens were addressed in detail.
Petroleum Sports Promotion Board (PSPB) men secured a dominant victory at the Senior Table Tennis National Championships, while Reserve Bank of India (RBI) women reclaimed their title after two years.
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.
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.
'What we have yet to see on either the US or the Iranian side is willingness to compromise on their ultimate demands and the flexibility to reach an agreement to end the war.
Despite international crude oil rates crossing USD 100 per barrel due to Middle East tensions, the Indian government plans to maintain current petrol and diesel prices, ensuring uninterrupted fuel supply across the country.
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.
Amidst the ongoing conflict in West Asia, the Oil Ministry assures citizens that India's LPG supply remains secure, with no need for panic booking of cylinders. The normal delivery cycle of two-and-a-half days is being maintained, and crude oil is being sourced from diverse routes.
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.
