Search For "oil"
"We're waiving certain oil-related sanctions": Trump moves to curb global
Updated : 1 week, 2 days ago IST
US President Donald Trump suggested a temporary waiver of certain oil sanctions to curb soaring energy prices. He noted the US Navy could escort tankers through the Strait of Hormuz if necessary. This follows recent Treasury sanctions on Iran's "shadow fleet" used to fund military program
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Petroleum Ministry orders higher LPG production for domestic use amid geop
Updated : 1 week, 2 days ago IST
The Ministry of Petroleum and Natural Gas issued orders to oil refineries to increase Liquefied Petroleum Gas (LPG) production and directed that such additional output be channelled specifically for domestic use. This decision follows recent geopolitical disruptions that created constraints
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Trump warns Iran of retaliation "twenty times harder" over potential Strai
Updated : 1 week, 2 days ago IST
US President Donald Trump warned Iran of a response "twenty times harder" if they block the Strait of Hormuz. Claiming the war is "pretty much over," he stated Tehran has no military assets left. However, the IRGC countered that they will "determine the end of the war."
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Trump and Putin discuss Iran, Ukraine conflicts during telephone call
Updated : 1 week, 2 days ago IST
Russian President Vladimir Putin received a telephone call from US President Donald Trump, where the two leaders discussed the conflicts in Iran and Ukraine, Russia Today reported, citing Kremlin aide Yuri Ushakov.
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West Asia conflict: Centre orders refineries to boost LPG production for d
Updated : 1 week, 2 days ago IST
Amid ongoing West Asia tensions affecting global fuel supply, the Central government has instructed oil refineries across the country to increase LPG production. The additional output will be diverted to meet domestic household demand and help stabilise supply in the coming months, the Mi
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Iran mocks US strikes as "Operation Epic Mistake", says Tehran "fully prep
Updated : 1 week, 2 days ago IST
"9 days into Operation Epic Mistake, oil prices have doubled while all commodities are skyrocketing. We know the U.S. is plotting against our oil and nuclear sites in hopes of containing huge inflationary shock," Araghchi wrote.
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US wants to split Iran, war push driven by "oil riches", accuses Tehran
Updated : 1 week, 2 days ago IST
Speaking at a press conference in Tehran, Iranian Foreign Ministry spokesperson Esmaeil Baghaei alleged that Washington's actions are aimed at gaining illegal control over Iran's vast energy reserves, adding that the objective of the United States and Israel is to violate Iran's sovereign
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India unlikely to contribute from its strategic petroleum reserves in G7 e
Updated : 1 week, 2 days ago IST
India has no plan to release oil reserves in coordination with the International Energy Agency (IEA), government sources said on Monday.
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Petrol, diesel prices unlikely to rise unless crude crosses $130 per barre
Updated : 1 week, 2 days ago IST
In order to stop hoarding and black marketing, the government has increased the minimum waiting period for booking domestic LPG gas cylinder refill to 25 days from the existing 21 days.
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Strait of Hormuz disruption could raise oil prices further, inflation risk
Updated : 1 week, 2 days ago IST
The escalating conflict in West Asia and disruption of flows through the Strait of Hormuz could have significant implications for India and the global economy, potentially pushing crude oil prices higher and adding to inflationary pressures, according to Anindya Banerjee, Head of Commodity a
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"$50 oil surge could wipe out 2% of India's GDP," warns Axis Bank's Neelka
Updated : 1 week, 2 days ago IST
In an interview with ANI, Mishra highlighted that India's heavy reliance on imported "dense energy" makes it a primary target for global price volatility. "Every dollar increase per barrel costs approximately $1.8 billion annually. For instance, a $50 increase in oil prices represents a $90
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UBS flags margin risks for Indian OMCs as crude volatility intensifies ami
Updated : 1 week, 2 days ago IST
A research note from UBS has flagged rising risks for India's state-owned oil marketing companies as crude oil market volatility intensifies due to geopolitical tensions in West Asia.
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