The Ministry of petroleum and Natural Gas on Saturday dismissed reports suggesting that an Iranian crude oil shipment meant for India had been rerouted to China due to payment-related hurdles, asserting that such claims are incorrect.Clarifying the situation, the ministry said, “The news reports and social media posts of an Iranian crude cargo being diverted…
A sanctioned tanker carrying Iranian crude has abruptly changed destination from a port on India’s west coast to an import terminal in China, in a move suggesting that India would not be imminently importing its first crude from Iran in seven years. The crude tanker Ping Shun, which the United States sanctioned last year for…
India has faced significant disruption to energy supplies routed through the Strait of Hormuz. (AI image) For the first time in several years, India has reportedly purchased liquified petroleum gas (LPG) from Iran after the Donald Trump administration granted a 30-day sanctions waiver to keep oil and gas prices in check. India had stopped energy…
Asia-Pacific economies entered 2026 on a fragile footing. (AI image) Asia-Pacific economies have entered 2026 on a fragile footing, and the US-Israel-Iran war has exacerbated the risks to GDP growth for economies like China, India, and other major countries in the region, says Moody’s Analytics in its latest report.The global economy has been undergoing a…
Indian refiners have purchased nearly 30 million barrels of Russian crude within a week. (AI image) India is aggressively buying Russian crude oil amidst supply disruptions from Strait of Hormuz caused due to the ongoing US-Iran war and Middle East conflict. In fact, India is buying such huge quantities of Russian crude, that tankers headed…
US President Donald Trump on Saturday reiterated that India is cutting back the Russian oil imports completely, as he announced sanctions targeting Moscow’s oil giants Rosneft and Lukoil.Ahead of his upcoming meeting with Chinese President Xi Jinping in South Korea, Trump expressed hope that the discussions would yield a “complete deal,” Bloomberg reported. Trump’s FULL…