All posts tagged: oil

Pakistan hints at cutting fuel prices after US-Iran deal, eases Middle East tensions | World News

Pakistan hints at cutting fuel prices after US-Iran deal, eases Middle East tensions | World News

Published by Parlour News

2 min readJun 18, 2026 10:00 PM IST Pakistan’s Petroleum Minister Ali Pervaiz Malik on Wednesday hinted that the government is considering reducing fuel prices following the announcement of a peace agreement between the United States and Iran. Speaking to Geo News, Malik said the government would “bring good news regarding a reduction in petroleum prices” after the two countries agreed on a framework to end hostilities. He added that Prime Minister Shehbaz Sharif had previously assured the public that any fall in global oil prices would be passed on to consumers. The US and Iran have agreed to a peace deal, which they plan to formalise by Friday, June 19, 2026. Both countries have committed to concluding a final agreement upon signing a 14-point Memorandum of Understanding. The accord is aimed at halting the US blockade of Iran and reopening the Strait of Hormuz, a critical chokepoint for global oil and gas supplies. The conflict began on February 28, 2026, when US and Israeli forces struck Iran. The announcement sent oil prices sharply lower. …

Nitin Gadkari approves 100 per cent ethanol fuel to reduce India’s oil imports

Nitin Gadkari approves 100 per cent ethanol fuel to reduce India’s oil imports

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Union Road Transport and Highways Minister Nitin Gadkari on Saturday announced that the government has approved the use of 100 per cent ethanol as fuel, a move aimed at reducing India’s dependence on imported fossil fuels and accelerating the transition towards cleaner and alternative energy sources. The minister made the announcement during a press conference in Nagpur while highlighting key achievements of the National Democratic Alliance (NDA) government over the past 12 years. 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

Will not allow illegal oil shipments from Iran, U.S. tells India

Will not allow illegal oil shipments from Iran, U.S. tells India

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U.S. Secretary of State Marco Rubio. File | Photo Credit: AP On Friday (June 12, 2026), after India summoned U.S. Embassy representative Jason Meeks and lodged its “strong protest” against the missile attacks on ships carrying Indian crew, U.S. Secretary of State Marco Rubio told External Affairs Minister S. Jaishankar that violations of the American blockade and “illicit transport of Iranian oil” would not be tolerated. Recalling his discussion with Mr. Rubio, Mr. Jaishankar posted on X: “I reiterated India’s strong protest at the attacks by the U.S. Navy in the Gulf that killed three Indian mariners. Such lethal actions against commercial shipping are not justified.” West Asia war LIVE updates – June 13, 2026 The two discussed the Strait of Hormuz situation following U.S. missile strikes on three vessels — Marivex near Duqm, and Settebello and Jalveer near Shinas — that killed three Indian seafarers off the Oman coast. The U.S. State Department said Mr. Rubio further told Mr. Jaishankar that “all commercial vessels should immediately comply with orders from U.S. forces as they …

India prepared for oil market volatility amid West Asia tensions: Hardeep Puri

India prepared for oil market volatility amid West Asia tensions: Hardeep Puri

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India remains well-prepared to manage any volatility in global crude oil markets amid escalating tensions in West Asia, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said on Wednesday.  In an interaction with IANS, Puri said the government has successfully managed fluctuations in global oil markets over the past several months and will continue to closely monitor the situation. In addition, the minister asserted that the country`s energy security remains robust due to diversified supply sources and growing efforts towards self-reliance. “Our constant effort has been, and will continue to be, to manage the situation in the same way we have managed it over the last 100 days. We will try to handle the next 30 or 60 days in the same manner. But if the international situation changes and prices rise sharply, then the issue will have to be revisited,” the minister said. On concerns over India`s oil supplies amid the ongoing tensions in West Asia, Puri said the country is better positioned today than in the past to deal with potential disruptions. …

Unattended oil fryer, cook on break: Police reveals series of events that led to deadly fire at Delhi’s Malviya Nagar

Unattended oil fryer, cook on break: Police reveals series of events that led to deadly fire at Delhi’s Malviya Nagar

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Days after a fire at an illegal bed-and-breakfast (B&B) at Delhi’s Hauz Rani killed 22 people, details have started to emerge on lapses and events that led to the blaze. MCD officials carry out a sealing drive against illegal hotels and guest houses allegedly violating safety norms in Malviya Nagar. (Photo by Sanchit Khanna/ Hindustan Times) (Hindustan Times) The investigation is now circulating around the possibility of a series of events — a tea break, an unattended oil fryer and a cook who walked away without alerting anyone of the fire — that triggered one of the worst fire incidents in the national capital on June 3. The police now believe that the fire at Flourish Stays B&B in Malviya Nagar’s Hauz Rani area began after an oil fryer was inadvertently left switched on while the cook prepared tea for himself, PTI news agency reported. Also Read: Cook arrested in deadly Delhi hotel fire case, claims blaze ‘began after spark in fryer’ The police have so far arrested the B&B manager and the cook, while …

Oil tanker with 24 Indians catches fire near Oman amid West Asia tensions

Oil tanker with 24 Indians catches fire near Oman amid West Asia tensions

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A fire broke out aboard an oil tanker carrying 24 Indian seafarers off the coast of Oman on Monday, even as Israel and Iran exchanged fresh attacks in their first major escalation since the ceasefire. The Madagascar-flagged MT Marivex reported the fire around 1.30 pm, Opesh Kumar Sharma, a director in India`s Ministry of Ports, Shipping and Waterways, said at a news briefing. Sharma declined to comment on the cause of the fire but confirmed that the vessel had 24 Indian crew members on board. The tanker was empty and positioned well outside the Strait of Hormuz, a critical shipping route impacted by regional tensions. “This is the preliminary information which we have received… as per available information, all Indian seafarers are safe,” Sharma said. “We are coordinating with the Ministry of External Affairs, our missions abroad, Indian Navy, Ministry of Defence, to ensure their safety.” Delhi: Director in the Shipping Division of the Ministry of Ports, Shipping and Waterways (MoPSW), Opesh Kumar Sharma says, “There has been a recent report that today around 1.30 …

Would like to end sanctions waivers on Russian oil: Rubio

Would like to end sanctions waivers on Russian oil: Rubio

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Washington: US Secretary of State Marco Rubio said on Tuesday that America would like to end the general licence allowing countries, including India, to purchase Russian oil “as soon as possible”. While testifying before the US Senate, Rubio avoided making a firm commitment on ending the licence stating that the decision would be made on the basis of prevailing circumstances. The Russian oil tanker Anatoly Kolodkin near the port of Matanzas, northwestern Cuba, on March 31, 2026. (AFP) “Ultimately it’s a decision that’s made by the Treasury but I will tell you it depends on the circumstances at the time. We would like to end it as soon as you possibly can because the underlying policy of this country has been to sanction their oil. These are time-limited waivers for the purpose of opening up more global supply,” said Rubio when asked if the Trump administration would commit to ending the general licence, which is set to expire later in June. In March this year, the Trump administration issued two 30-day licences which allowed the …

US looks to end waiver on Russian oil purchase, says Rubio | Here’s how it will hit India

US looks to end waiver on Russian oil purchase, says Rubio | Here’s how it will hit India

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The United States is looking to end its waiver that has allowed the purchase of Russian oil, US Secretary of State Marco Rubio said on Tuesday. US Secretary of State Marco Rubio testifies during a Senate Foreign Relations Committee hearing (AFP) India is among the key countries that have benefited from the US waiver, as it allowed New Delhi to resume its purchase of Russian oil. Follow LIVE updates on the US-Iran war US looks to end ‘time-limited’ waiver Rubio, appearing for a US Congress hearing, stated that the current waiver on Russian oil was “time-limited” and established in order to ease the disruption caused by the blockade of the Strait of Hormuz amid the ongoing conflict between the US-Israel and Iran. “We would like to end it as soon as we possibly can because the underlying policy of this country has been to sanction their oil. These are time-limited waivers for the purpose of opening up more global supply,” Rubio told the Committee. The US first announced the waiver in March. Since then, the …

Congress president Mallikarjun Kharge questions fuel price hike despite lower crude oil rates

Congress president Mallikarjun Kharge questions fuel price hike despite lower crude oil rates

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Kharge cited an official statement by the PIB to state that exactly 12 years ago today — on May 26, 2014 — when Prime Minister Narendra Modi assumed office, the price of crude oil in the Indian basket stood at USD 108.05 per barrel, and the Dollar-Rupee exchange rate was Rs 58.59. 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