oil trade

New Delhi, April 4 India said on Saturday that there were no payment issues with Iran for crude imports, and that refiners continue to source oil from the country, as well as from a wide range of global suppliers.In a post on X, the Ministry of Petroleum and Natural Gas dismissed reports that...

New Delhi, March 31 India's first shipment of Iranian crude oil since 2019 may be heading towards a port in Gujarat, according to ship tracking data.Indian refiners have been looking to purchase a few cargoes of Iranian oil following the recent sanctions waiver by Washington."The...

Seoul, March 23 – South Korean President Lee Jae-myung is scheduled to hold a nationwide regular security meeting on Monday to assess the nation's security situation and response measures, Cheong Wa Dae said.The integrated security meeting, the first since he took office in June 2025, comes as...

Seoul, March 21 – South Korea is in close talks with countries, including Iran, to ensure a swift normalization of the Strait of Hormuz after Tehran said it is ready to allow vessels bound for Japan to pass through the sea route, which has been virtually closed following the Middle East crisis...

Washington, March 17 – The US House of Representatives passed sweeping legislation to tighten sanctions on Iran’s energy sector, as lawmakers from both parties pushed for stronger measures amid ongoing tensions with Tehran.The bill, titled the Enhanced Iran Sanctions Act, passed the House by...

US President Donald Trump said he had requested that seven countries send warships to help keep the Strait of Hormuz open during the ongoing conflict with Iran. The strait is a critical shipping route through which about one-fifth of the world's traded oil normally passes. Trump stated that the...

United Nations, March 11 The United Nations has warned of significant risks to global trade and development, including higher food prices and the cost of living, if the Strait of Hormuz is closed amid the West Asia conflict.The UN Conference on Trade and Development (UNCTAD) said in a report...

New Delhi, March 6 Following the US announcement that it is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil, the BJP on Friday termed the development a success of "strategic oil diplomacy" under Prime Minister Narendra Modi, and said it is a "major...

In New Delhi, March 2 Oil prices could rise above $100 per barrel if tanker traffic through the Strait of Hormuz is not quickly restored, as the waterway's closure threatens to disrupt 15% of global oil supply and 20% of global LNG supply, according to consultancy Wood Mackenzie.Following US...

Diplomats from Iran and the United States are scheduled to meet in Geneva today for the third round of nuclear negotiations, even as Washington imposes fresh sanctions on Tehran's oil trade and weapons networks. Iranian President Masoud Pezeshkian said he remains hopeful ahead of the talks...

Washington, February 25 – The US has imposed sanctions on more than 30 individuals, companies, and vessels linked to Iran’s oil trade and weapons programmes.The Treasury Department said on Wednesday that the action targets Iran’s so-called shadow fleet and networks that supply ballistic...