Experts note that while the domestic buffers for oil are relatively strong, LPG and LNG supplies need a boost. (AI image) India imports around 90% of its crude oil needs, and approximately 60% and 50% of its LPG and LNG requirements respectively. These are not just mere statistics – it’s a telling picture of the…
New Delhi: IndiGo CEO Pieter Elbers has resigned from the airline with immediate effect, following the airline’s unprecedented schedule collapse last December that had left lakhs of passengers stranded across airports. Airline founder & MD Rahul Bhatia will “in the interim assume management of the affairs of the company,” IndiGo parent InterGlobe Enterprises said in…
Cabinet on Tuesday approved two railway multitracking projects worth Rs 4,474 crore in West Bengal and Jharkhand, aimed at easing congestion and strengthening freight and passenger movement across key routes in eastern India.The projects, Sainthia–Pakur 4th line and Santragachi–Kharagpur 4th line, were cleared by the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra…
Donald Trump indicated that Washington might consider lifting ‘certain oil-related sanctions’ in order to help bring down prices. (AI image) Even as the world economy reels under the global oil supply shock, the Donald Trump administration has reportedly made it clear to European countries that any easing on Russian crude oil sanctions would be related…
Asian stocks inched higher on Tuesday as oil prices relaxed, coming down to around $90 per barrel from nearly $120. South Korea’s Kospi recovered from its heavy losses, surging more than 6%, while Tokyo’s Nikkei 225 also gained over 3% before easing slightly. The rally came as West Texas Intermediate (WTI) crude fell 6.54% to…
The Union Cabinet has approved a revised capital cost of Rs 3,630.77 crore for the construction of a 31.42 km greenfield connectivity corridor linking the upcoming Noida International Airport at Jewar with the Delhi–Mumbai Expressway network, a move aimed at strengthening transport access to the airport and boosting logistics across the National Capital Region (NCR).The…
Saudi Arabia’s oil company Saudi Aramco, the world’s largest oil exporter, warned on Tuesday that the ongoing Iran war could have “catastrophic consequences” for global oil markets if shipping disruptions in the Strait of Hormuz continued.“There would be catastrophic consequences for the world’s oil markets and the longer the disruption goes on, the more drastic…
India will supply 5,000 tons of diesel to Bangladesh via pipeline starting Tuesday through the Parbatipur border, confirmed Muhammad Rezanur Rahman, chairman of Bangladesh Petroleum Corporation (BPC). “Under our agreement with India, the country is to deliver 180,000 tons of diesel annually through the pipeline. The 5,000 tons arriving now is part of this arrangement,”…
Airlines across Asia are increasing ticket prices and preparing contingency plans, including the possibility of grounding aircraft, as the escalating Middle East conflict threatens to trigger the biggest oil shock since the 1970s.Indian carriers have already raised fares on long-haul routes by about 15 per cent and are considering further hikes as jet fuel prices…
The government has revised the priority order for allocating domestically produced natural gas, placing LPG production, CNG for transport and piped cooking gas for households at the top of the list, as disruptions in imported gas supplies intensify amid the widening West Asia conflict, PTI reported.According to a gazette notification, the requirements of these sectors…
