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OIL MINISTRY
India's economic plot twist comes with one villain stepping aside, another waitingIndia's economic outlook has improved as falling crude oil prices ease inflation, strengthen the balance of payments and prompt economists ...- Jet fuel price cut by Rs 5/litre as global oil prices easeA significant drop in jet fuel prices, by nearly Rs 5 per litre, brings welcome relief to Indian airlines. This reduction, driven by fallin...
- Iran shuts door on US peace talks, insists Hormuz stays under its controlIran has refused to meet with top US envoys, casting doubt on peace prospects. Disagreements persist over a ceasefire and terms for lifting...
- Easing oil prices, supply chains to soften external pressures on India: Finance ministryIndia's economy remains resilient despite global uncertainties, with easing oil prices and improving supply chains offering some relief. Ho...
- E25 petrol blend's test drive begins; study report expected by end of next yearIndia is embarking on testing E25 petrol, which contains 25% ethanol, to evaluate its capabilities in vehicles. This initiative seeks to bo...
- Economy resilient but risks from monsoon, geopolitical uncertainties remain: FinMin reportIndia's economy shows resilience despite a slight slowdown in some key indicators. While global commodity prices ease, risks loom from an u...
- Govt extends customs duty waiver on import of key petrochemical products till July 15The government has extended the nil customs duty on approximately 40 critical petrochemical products by another 15 days, now until July 15....
- India plans to cut reliance on Middle East oil, tap spot market after war shockIndia's state refiners are pivoting away from Middle Eastern oil contracts following the Iran war's supply disruptions. They plan to boost ...
- India plans to add strategic fuel reserves after Iran war shockIndia is bolstering its energy security by planning strategic reserves of crude oil, LPG, and LNG to cover up to a month's demand, aiming t...
- Oil Price Today (June 30): Brent crude falls to $72/barrel as investors await US-Iran talksBrent crude futures dropped around 1% to $72.50 a barrel while US West Texas Intermediate (WTI) crude futures fell around 0.7% to $70.28 p...
- Oil falls as investors focus on potential Iran-US talks in DohaOil prices dipped as markets keenly watched potential U.S.-Iran talks in Doha, following recent missile exchanges that tested a fragile cea...
- Government lifts curbs on petrol, diesel sales at pumps as global oil prices fallFuel stations can now freely sell petrol and diesel to all customers. The government has removed restrictions on bulk buyers purchasing fue...
- Venezuela's largest refinery shutdown after power outage, sources sayVenezuela's largest Amuay refinery, a crucial fuel producer, faced a temporary shutdown due to a power outage following recent deadly earth...
- Hormuz traffic eases; Iran revives crude supply pitch to IndiaMaritime traffic through the Strait of Hormuz is normalizing, with most India-bound energy shipments successfully navigating the chokepoint...
- Cylinder sales restored to pre-war levels & bulk supplies raised to 50%The government has restored commercial LPG cylinder sales to pre-conflict levels after supplies improved, bringing relief to industrial and...
- Government restores non-domestic LPG supplies to pre-crisis levelsIndia has restored non-domestic packed LPG supplies to their pre-crisis levels. This welcome development follows a significant improvement ...
- Oil falls to pre-war levels, no change in petrol and diesel prices in IndiaGlobal crude oil prices have fallen to their lowest levels since before the Iran conflict, with Brent slipping to around USD 72–73 per barr...
- Iraq to consider all options if OPEC quota is not raised, has weighed exit, sources sayBaghdad is signaling a potential departure from OPEC if its oil production quota isn't substantially raised, a move that would further dest...
- 30 India-bound ships cross Strait of Hormuz since Iran war began, 26 more await transitThirty ships bound for India have successfully navigated the Strait of Hormuz, a crucial route disrupted by recent geopolitical tensions. A...
- Ethanol blending programme safe, use of E20 won't affect vehicle insurance validity: GovtIndia's ethanol blending program is safe and beneficial, the government assures, dispelling fears about E20 fuel invalidating vehicle insur...
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