oil supply

Tokyo, April 10 – Japan plans to release 20 days' worth of oil reserves starting in May, Prime Minister Sanae Takaichi said on Friday, adding to the ongoing efforts that began in mid-March.Takaichi revealed the plan at a ministerial meeting on the day to address the Middle East situation amid...

Seoul, April 10 – South Korea's National Assembly is set to handle an additional budget bill on Friday aimed at coping with the economic fallout from the ongoing war in the Middle East.The additional budget, intended to ease the burden of rising oil prices and protect small businesses and...

Port Louis, April 9 India is finalizing an agreement to supply oil and gas to Mauritius to strengthen its energy security amid the crisis caused by the conflict in West Asia, External Affairs Minister S Jaishankar said here on Thursday.Jaishankar, who is in Mauritius to attend the 9th Indian...

Mumbai, April 8 Reserve Bank Governor Sanjay Malhotra on Wednesday termed the ceasefire between the US and Iran as "pleasant news," which was taken into account while making the policy decision hours later."At 5:30 am, we received some pleasant news, perhaps not entirely unexpected," Malhotra...

New Delhi, April 8 Crude oil prices plummeted by 18 percent to Rs 8,775 per barrel in futures trading on Wednesday, following an agreement between the US and Iran to a two-week ceasefire and the reopening of the Strait of Hormuz, triggering heavy selling by traders as geopolitical risk vanished...

New Delhi, April 8 The announcement of a ceasefire between the US and Iran, along with the reopening of the Strait of Hormuz, will provide immediate relief to exporters by easing shipping disruptions, FIEO said on Wednesday.US President Donald Trump announced a two-week suspension of military...

Washington, April 8 – After announcing a two-week ceasefire with Iran, US President Donald Trump said on Wednesday that it was a "big day for World Peace". He said that Iran wanted this to happen because "they have had enough", while adding that Tehran can start the reconstruction.In a...

Seoul, April 7 – South Korean President Lee Jae Myung is scheduled to hold a meeting with leaders of the ruling and main opposition parties on Tuesday, officials said, as they were expected to discuss measures to mitigate the economic fallout from the war in the Middle East.Lee is scheduled to...

Seoul, April 3 – The ruling Democratic Party (DP) of South Korea and the government agreed on Monday to send special envoys to Saudi Arabia, Oman, and Algeria to secure crude oil supplies, as the Strait of Hormuz, a key oil shipping route, has effectively been closed due to the ongoing...

Bratislava, April 5 – Slovak Prime Minister Robert Fico has called on the European Union (EU) to resume dialogue with Russia and lift sanctions on Russian energy raw materials, following a phone call with Hungarian Prime Minister Viktor Orban, local media STVR reported."The EU, and especially...

New Delhi, April 3 With the West Asia crisis continuing to drive volatility in the global energy market, Russia has offered to increase the supply of crude oil and natural gas to India, even as the two sides agreed to further enhance overall bilateral ties.Energy cooperation was a prominent...

April 1, New Delhi: Amidst the turbulent times caused by the Iran war and difficulties in oil supply due to the blockage of the Strait of Hormuz, India's Ministry of Petroleum and Natural Gas is attempting to protect domestic airlines from a full surge in fuel prices.The ministry has limited...

Beijing, March 31 China and Pakistan on Tuesday presented a five-point peace proposal to end the conflict in West Asia, including a call for safe passage of ships through the Strait of Hormuz.The peace proposal was put forward after Chinese Foreign Minister Wang Yi held talks with visiting...

Moscow, March 30 Russia will continue to supply energy resources to Havana, the Kremlin said on Monday, as a Russian tanker carrying the first consignment of 773,000 barrels of oil arrived at a Cuban port."We will continue to work on this. Given the difficult situation the Cubans are now in...

New Delhi, March 29 Speaking at an Eid Milan ceremony in Delhi, Indresh Kumar, Convenor of the Muslim Rashtriya Manch (MRM) and a leader of the Rashtriya Swayamsevak Sangh, cautioned people against creating panic over oil and gas supply, stating that there is no shortage of resources in the...

Havana, March 29 – Cuban Foreign Minister Bruno Rodriguez denounced the United States for "blatantly lying" about a fuel blockade against the island.In a post on the social media platform X, Rodriguez said that US claims contradict its own executive orders and regulations, citing a January 29...

New Delhi, March 27 There is no possibility of imposing a lockdown in the country, Finance Minister Nirmala Sitharaman said in the Rajya Sabha on Friday, and indicated raising additional resources to compensate for the shortfall arising from the excise duty cut on diesel and petrol.She also...

March 27, New Delhi - The Indian government reduced the additional excise duty on both petrol and diesel in response to growing concerns about a nationwide rise in fuel prices due to the ongoing crisis in the Middle East.According to a government order, the additional excise duty on petrol was...

New Delhi, March 27 – The Congress party said on Friday that the reduction in excise duty on petrol and diesel offers no real relief to ordinary people and accused the government of misleading the public with headlines suggesting a price reduction.The party stated that if people saw reports...

March 26, New Delhi: Foreign ministers from G7 nations will meet in France this week amid ongoing conflicts in Iran and Ukraine.The two-day meeting at Vaux-de-Cernay Abbey in Paris brings together officials seeking clarity on U.S. and Israeli military operations in Iran and possible diplomatic...