strategic petroleum reserve

New Delhi, March 25 Prime Minister Narendra Modi has informed US President Donald Trump that the conflict in West Asia must end soon, as it is affecting everyone, according to the government, which addressed the concerns of the opposition at a meeting on Wednesday. The government also dismissed...

Bhubaneswar, March 25 Union Minister Dharmendra Pradhan urged his cabinet colleague in the Ministry of Petroleum and Natural Gas, Hardeep Singh Puri, and the Chief Minister of Odisha, Mohan Charan Majhi, to expedite the implementation of the proposed 'Strategic Petroleum Reserve' (SPR) project...

New Delhi, March 23 India's strategic oil reserves, designed to provide cover for about 9.5 days of supplies during disruptions or price shocks, are currently at only two-thirds capacity, the Rajya Sabha was informed on Monday.India, the world's third-largest energy consumer and heavily...

New Delhi, March 23 – Prime Minister Narendra Modi stated on Monday that the government possesses a strategic petroleum reserve and is in the process of building more reserves. He also noted that over the past decade, the sources of energy imports have been hugely diversified."We have a...

New Delhi, March 23 – Prime Minister Narendra Modi stated on Monday that the government is working to ensure uninterrupted supplies of oil and gas amid the conflict in West Asia, while emphasizing that India has diversified its energy imports, unlike in previous instances, and will continue...

New Delhi, March 23 – The current stock of crude oil held as part of India's strategic reserves is approximately 3.372 million metric tonnes (MMT), which represents 64 per cent of the total storage capacity of these reserves, the Parliament was informed on Monday.Through a Special Purpose...

Hyderabad, March 20 Alleging that Prime Minister Narendra Modi has become close to his Israeli counterpart Benjamin Netanyahu and US President Donald Trump, in contrast to India's neutral stance towards West Asia in the past, AIMIM president Asaduddin Owaisi said on Friday that Modi should...

Washington, March 19 – The United States is considering a series of emergency energy measures, including releasing more crude oil from its strategic reserves and easing restrictions on Iranian oil, as the White House moves to contain rising prices following fresh disruptions in global supply...

Washington, March 17 – The United States is allowing Iranian oil tankers to transit the Strait of Hormuz despite the ongoing conflict, as part of efforts to stabilize global energy supplies, Treasury Secretary Scott Besant said.“We are seeing more and more fuel ships start to go through. The...

Washington, March 13 – The world is facing a “significant disruption in the short term” to secure long-term global energy flows, US Energy Secretary Chris Wright said, defending Washington’s decision to release oil reserves amid the war involving Iran.“We are in the midst of a significant...

Prime Minister Narendra Modi stated that India remains a well-recognized and trusted nation globally, even amidst disruptions in West Asia. Addressing the NXT Conclave in New Delhi, Mr. Modi said that the country remains stable and resilient despite the challenging situation in the region. He...

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...

Washington, March 12 – US Energy Secretary Chris Wright said that energy markets could face short-term disruptions as the conflict involving Iran affects oil flows, but insisted that the impact would likely be temporary and that military operations would eventually stabilize global energy...

Washington, March 12 – US President Donald Trump said that the United States could destroy Iran's electricity infrastructure within an hour if it chose to escalate the conflict, while also revealing that authorities were investigating a possible Iranian revenge plot involving drones launched...

Washington, March 12 – The White House strongly criticized critical reporting in major US newspapers on the Trump administration's handling of the war with Iran and its impact on global energy markets, accusing the media of spreading a "false narrative" about the objectives of the military...

Washington, March 12 – The United States will release 172 million barrels of oil from its Strategic Petroleum Reserve over the next four months, as part of a coordinated international effort by major economies to stabilize energy markets amid rising global prices driven by conflict in the Middle...

March 11, New Delhi – Countries and agencies worldwide are implementing emergency measures to address soaring oil prices, including capping fuel costs, releasing strategic reserves, and reducing consumption.The major move comes from the International Energy Agency (IEA), which has proposed the...

Washington, March 10 – Democratic lawmakers in the United States sharply criticised President Donald Trump’s war with Iran, as gasoline prices surged nationwide, urging the White House to release oil from the Strategic Petroleum Reserve to ease pressure on American families.Oil prices have...

New Delhi, March 9 India will not join the International Energy Agency (IEA) initiative to release strategic oil reserves as part of an effort to cool oil prices, top government sources said.India, the world's third-largest oil-importing and consuming nation, has 5.33 million tonnes of...

Washington, March 8 – US President Donald Trump said he was not concerned about rising fuel prices despite the ongoing war with Iran, arguing that global oil markets have enough supply and that any price spike would be temporary.Speaking to reporters during a press briefing aboard Air Force...