oil supply

Seoul, March 24 – The South Korean government will strictly enforce a mandatory five-day vehicle rotation system for the public sector in response to potential disruptions in oil supply amid ongoing tensions in the Middle East, while also implementing additional energy-saving measures, the...

March 23, New Delhi: Countries across the region are struggling with severe shortages of oil and gas, and are taking urgent measures to address the crisis.In Bangladesh, petrol pump owners have warned that filling stations across the country could shut down at any moment due to a severe fuel...

Colombo, March 23 The Strait of Hormuz remains open to friendly countries, the Iranian envoy to Sri Lanka said on Monday, stressing that Tehran is ready to supply oil or other essential goods to the island nation if the need arises.The conflict in West Asia, involving the US, Israel, and Iran...

March 21, New Delhi – According to Iranian Foreign Minister Abbas Araqchi, Iran is prepared to allow Japanese-related vessels to pass through the Strait of Hormuz.Araqchi told a Japanese news agency that Tehran has initiated discussions with Tokyo on the possible reopening of the strait. Japan...

Washington, March 21 – US President Donald Trump has said that his administration is considering "winding down" its military operation against Iran, while calling on South Korea, China, Japan, and other countries to get involved in efforts to secure the vital Strait of Hormuz.Trump made the...

Washington, March 20 – President Donald Trump’s attempt to defend the US’s strikes on Iran by invoking the Pearl Harbor attack appeared to unsettle Japanese Prime Minister Sanae Takaichi during their meeting at the White House, creating an awkward moment in an otherwise warm display of alliance...

Wellington, March 19 – New Zealand Prime Minister Christopher Luxon warned on Thursday of a prolonged Middle East conflict that could disrupt global oil supplies, as the government considers raising its fuel escalation level next week.New Zealand drivers have been queuing at petrol stations...

March 18, New Delhi — South Korea has secured a commitment from the United Arab Emirates to supply 24 million barrels of crude oil, as authorities implement measures to mitigate the economic impact of the Middle East conflict.Iran's effective closure of the Strait of Hormuz has forced the UAE...

Beijing, March 16 China called on all sides to immediately halt military operations in West Asia on Monday, in response to US President Donald Trump's call for other countries, including Beijing, to help keep the Strait of Hormuz open for international transport.The effective closure of the...

New Delhi, March 16 Crude oil prices rose by ₹119 to ₹9,171 per barrel in futures trading on Monday as escalating tensions in West Asia kept supply risks in focus, even as the US explored ways to restore shipping around the Strait of Hormuz.On the Multi Commodity Exchange (MCX), crude oil for...

The International Energy Agency (IEA) stated that its member countries would release large quantities of oil from emergency reserves to help lower global prices.In a statement, the agency said, "Countries in Asia and Oceania will begin releasing oil immediately, while reserves from Europe and...

Gwalior, March 13 Union Minister Jyotiraditya Scindia criticised the Congress on Friday for "negative thinking" during the West Asia crisis, asserting that while citizens of the country were standing by the government, the opposition was resorting to making accusations.Speaking to reporters...

New Delhi, March 13 Union Minister Giriraj Singh accused Leader of the Opposition in the Lok Sabha, Rahul Gandhi, of spreading confusion and misinformation about the availability of LPG in the country.Gandhi behaved in a similar manner during the COVID-19 pandemic, and the country efficiently...

New Delhi, March 13 Lok Sabha proceedings were adjourned until noon on Friday amid protests by opposition members over the LPG supply situation and price hike.Speaker Om Birla warned the opposition members against disrupting the Question Hour and asserted that it is everyone's responsibility...

Washington, May 13 Amid rising oil prices, the Trump administration has announced a temporary authorization for other countries to purchase Russian oil currently stranded at sea, as there were no immediate signs of an early end to the US war on Iran.The US had granted a similar waiver from...

Washington, March 13 – The United States has temporarily allowed countries to purchase Russian oil stranded at sea, a move that comes days after Washington granted a similar waiver to India as it seeks to stabilize global energy markets amid rising geopolitical tensions.Treasury Secretary...

New Delhi, March 12 – Prime Minister Narendra Modi said on Thursday that the government is "doing everything possible" to safeguard India's energy security in the face of disruptions in oil and gas supplies caused by the Iran war.Addressing a media event here, PM Modi said that his government...

March 12, New Delhi – The International Energy Agency’s decision to release 400 million barrels of oil from global reserves has already had a significant impact on energy markets, which remain in a critical state following the closure of the Strait of Hormuz, said Executive Director Fatih Birol...

New Delhi, March 12 Leader of the Opposition Rahul Gandhi on Thursday alleged that India's energy security has been "compromised" due to a "flawed" foreign policy, and that the government has "bartered" the right to determine relationships with different oil suppliers to the US.Raising the...

New Delhi, March 12 Union Minister Piyush Goyal on Thursday termed Leader of the Opposition Rahul Gandhi's remarks on the reported LPG shortage as "misleading," and accused him of pursuing a "foreign agenda" by raising "baseless" issues in the Lok Sabha to undermine the country's stature.Goyal...