All posts tagged: crude

Reliance denies reports of buying Iranian crude amid tensions

Reliance denies reports of buying Iranian crude amid tensions

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Amid the West Asia conflict, Reliance Industries Limited (RIL) on Thursday refuted reports that it has purchased Iranian crude, calling these reports “baseless”.  As reported by news agency IANS, reports earlier claimed that RIL had purchased 5 million ​barrels of Iranian crude after the US administration temporarily removed sanctions on ‌Iranian oil at sea. According to the report, RIL bought the oil from the National Iranian Oil Co. However, clarifying the rumours, RIL, while issuing an official statement, wrote, “Reliance Industries Limited categorically rejects recent media reports that the company has purchased crude oil of Iranian origin. These reports are baseless, leading to misleading and incorrect claims,” as cited by IANS.  RIL further urged the media outlets concerned to verify facts before publication. US Treasury Secretary on oil crisis Last week, the US issued a short-term authorisation allowing the sale of Iranian oil already stranded at sea, a move the Donald Trump administration says will quickly boost global supply while maintaining pressure on Tehran, according to the Treasury Department and reports. Treasury Secretary Scott Bessent …

Fuel crisis LIVE: India has 60-day crude stock, no supply shortage, says government

Fuel crisis LIVE: India has 60-day crude stock, no supply shortage, says government

Published by Parlour News

Chhattisgarh caps commercial LPG supply, sets timeline for domestic refill booking The Chhattisgarh Government has capped the supply of commercial LPG cylinders at 20% of the previous month’s consumption, while directing time-bound online refill booking for domestic consumers, officials said on Thursday (March 26, 2026).  Based on available stock, priority categories for LPG supply have been identified. These include educational institutions, hospitals, military and paramilitary camps, jails, hotels, social welfare institutions, railway and airport canteens, government offices, guest houses, animal feed units, and restaurants, an official statement said. The decision was taken on Wednesday during a review meeting of regional managers of oil companies, chaired by the state’s food department secretary, Reena Baba Saheb Kangale, to assess LPG availability and streamline the distribution system in the state amid supply concerns following the West Asia conflict. -PTI Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

Rupee slips to 93.73 against dollar as crude prices rise amid Iran uncertainty

Rupee slips to 93.73 against dollar as crude prices rise amid Iran uncertainty

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The Indian rupee started Tuesday’s trading at 93.66 per US dollar before slipping to 93.73, down 20 paise from Monday’s close. The local unit had hit a record low of 93.98 against the greenback in the previous session, the PTI reported. Analysts attributed the weakness to rising crude oil prices and ongoing tensions in West Asia. Why exactly is Rupee crashing? Crude oil and FII outflows weigh heavily on rupee. Rising global crude oil prices, a key concern for India as a net importer, added further pressure on the currency. The more the demand for USD, the more rupee crashes. Brent crude futures were trading at USD 103.9 per barrel. Analysts warn that sustained high oil prices may increase inflation and widen India’s import bill, negatively affecting growth projections, the news agency reported. Heavy foreign institutional investor (FII) outflows also contributed to the rupee’s weakness, with equities sold worth Rs 10,414 crore on Monday as per exchange data. Meanwhile, domestic markets showed resilience, with the Sensex rising 829 points to 73,525 and the Nifty up …

West Asia conflict: PM Modi says India has adequate crude storage and arrangements for supplies despite ‘serious crisis’ | India News

West Asia conflict: PM Modi says India has adequate crude storage and arrangements for supplies despite ‘serious crisis’ | India News

Published by Parlour News

Seeking to reassure Parliament and the country, Prime Minister Narendra Modi Tuesday said in Rajya Sabha that India has adequate crude oil storage facilities and arrangements for continuous supply, despite the “serious energy crisis” created by the war in West Asia, which has entered its fourth week. Speaking in the Upper House a day after he made a statement in Lok Sabha, Modi said it was essential that India’s Parliament spoke with one voice on peace and dialogue. He stressed that India’s aim was to bring peace to the embattled region through dialogue and diplomacy, and that it had discussed de-escalation and the opening of the Strait of Hormuz. In his opening remarks, Modi acknowledged the strain the conflict was placing on India’s energy supplies, calling it “worrisome,” and said petrol, diesel, gas, and fertiliser supplies were affected. He also said the fate of one crore Indians living and working in the Gulf countries was a matter of concern for the government. From the beginning of the war till now, 3.75 lakh Indians have returned …

Indian tanker Jag Laadki docks at Mundra with 80,000 MT crude oil

Indian tanker Jag Laadki docks at Mundra with 80,000 MT crude oil

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The Indian-flagged crude oil tanker Jag Laadki has safely docked at Adani Ports’ Mundra terminal in Gujarat, carrying approximately 80,886 metric tonnes of crude oil sourced from the United Arab Emirates, officials confirmed on Wednesday, reported news agency IANS. The vessel was loaded at Fujairah Port and reached Mundra amid heightened global energy concerns and ongoing disruptions in key shipping routes. Major crude shipment reaches Indian shores Port authorities said the tanker berthed at Mundra following standard maritime coordination and safety procedures. The cargo is expected to be discharged for refinery operations, contributing to India’s fuel supply stability, reported IANS. A spokesperson for Adani Ports said the terminal continues to play a key role in handling critical energy imports and ensuring seamless logistics for the country’s energy needs. Vessel specifications highlight capacity The Jag Laadki is a large crude carrier, measuring 274.19 metres in length with a beam of 50.04 metres. It has a deadweight tonnage of approximately 1,64,716 tonnes and a gross tonnage of around 84,735 tonnes, making it capable of transporting substantial volumes …

Crude oil prices rebound amid West Asia war concerns over supply disruptions

Crude oil prices rebound amid West Asia war concerns over supply disruptions

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Amid the escalating West Asia War, crude oil prices once again rebounded by Rs 261 to Rs 8,981 per barrel in futures trade on Tuesday. The surge happened amid firm global trends and uncertainty over supply disruptions due to the ongoing conflict in West Asia. As reported by PTI, crude oil on the Multi Commodity Exchange (MCX) for March delivery increased by Rs 261, or 3 per cent, to Rs 8,981 per barrel in a business turnover of 12,183 lots.  However, earlier on Monday, it declined by Rs 332, or nearly 4 per cent, to close at Rs 8,720 per barrel. The April contract also appreciated by Rs 305, or 3.52 per cent, to Rs 8,978 per barrel in 13,778 lots. In the previous session, it had dipped by Rs 270, or 3 per cent, to settle at Rs 8,673 per barrel on the MCX. Expert opinion Analysts, while expressing their views on crude oil prices, said that the rebound after a sharp correction in the previous session continues to weigh on evolving geopolitical developments …

Indian crude tanker sails out of UAE safely amid West Asia war

Indian crude tanker sails out of UAE safely amid West Asia war

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An Indian-flagged crude tanker sailed out safely from the UAE’s Fujairah after loading oil, despite an attack on the oil terminal. The vessel, Jag Laadki, carrying about 80,800 tonnes of Murban crude oil, departed Fujairah at 1030 hrs IST for India, with all crew members safe. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

`Crude oil available in sufficient quantity, petrol pumps operating normally`

`Crude oil available in sufficient quantity, petrol pumps operating normally`

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The Ministry of Petroleum and Natural Gas on Monday assured that there is no shortage of crude oil in the country and that fuel supply remains stable across India. Speaking on the issue, Sujata Sharma, Joint Secretary (Marketing & Oil Refinery) in the Ministry of Petroleum and Natural Gas, said that crude oil is available in sufficient quantity and all refineries are operating at their highest capacity. “Crude is available in sufficient quantity. All refineries are operating at the highest capacity. Our petrol pumps are operating normally. No dry out has been reported anywhere,” Sharma said. Her remarks come amid concerns in certain areas regarding fuel availability. The ministry clarified that the petroleum supply chain is functioning smoothly and there is no disruption in the distribution of petrol and diesel. Officials said that oil marketing companies are closely monitoring the supply situation to ensure the uninterrupted availability of fuel at retail outlets. The Shipping Ministry also confirmed that LPG carrying Indian flagged vessel Shivalik would be docking in Munhdra Port shortly. Rajesh Kumar Sinha, Shipping …

LPG bookings fall to 77 lakh; Indian crude tanker sails out of UAE’s Fujairah safely

LPG bookings fall to 77 lakh; Indian crude tanker sails out of UAE’s Fujairah safely

Published by Parlour News

Liquefied petroleum gas (LPG) refill bookings have declined to about 77 lakh from 88.8 lakh earlier, indicating some easing of panic buying, even as the government said there is no shortage of petrol, diesel or cooking gas, and supplies remain stable despite the West Asia conflict. All domestic “refineries are operating at high capacity and maintaining adequate crude oil inventories,” the update said. “The country remains self-sufficient in the production of petrol and diesel, requiring no imports of the fuels to meet domestic demand.” Oil marketing companies have reported no dry outs at fuel retail outlets or LPG distributorships, and petrol, diesel and LPG supplies are being maintained regularly. Meanwhile, an Indian-flagged crude tanker sailed out safely from Fujairah in the United Arab Emirates after loading 80,800 tonnes of Murban crude oil, despite an attack on the oil terminal. The vessel, Jag Laadki, departed Fujairah at 10.30 a.m. IST and is bound for India, with all crew members safe, the government said. Jag Laadki is the fourth Indian-flagged vessel to have come out of the …

India well-placed to deal with any situation on crude oil, fuel amid West Asia supply shock: Piyush Goyal

India well-placed to deal with any situation on crude oil, fuel amid West Asia supply shock: Piyush Goyal

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Union Minister of Commerce and Industries Piyush Goyal. | Photo Credit: ANI Union Minister Piyush Goyal on Saturday (March 14, 2026) said India is well-placed to deal with any situation on crude oil and fuel, as the West Asia crisis disrupts gas shipments and shipping routes, and highlighted that the government has ramped up kerosene production to provide an alternate option for the common man. Speaking at the CNBC-TV India Business Leaders Awards 2026 ceremony, Mr. Goyal said the government plans to come up with some “concrete agenda” next week to support exporters. “On crude oil, on fuel, we are pretty well placed. We have good stocks in hand. There’s been absolutely no disturbance of any sort on the crude or the fuel front, petrol, diesel, aviation fuel,” Mr. Goyal said. Follow Iran-Israel war LIVE updates He said that India has ramped up kerosene production so that, in the event of any delays in LPG supplies, there will be an alternate cooking medium for the common man. “Incidentally, we are also covering through imports from …