Rahul raises alarm over India’s energy security amid regional tensions
Highlighting the country’s heavy reliance on oil shipments passing through the Strait of Hormuz, he warned of significant risks to India’s energy security.
Highlighting the country’s heavy reliance on oil shipments passing through the Strait of Hormuz, he warned of significant risks to India’s energy security.
In a credit alert, the rating agency noted that even if the situation in Venezuela escalates and disrupts crude oil production, the impact on global oil prices is expected to be muted, as Venezuela accounts for only about 1.5 per cent of global crude oil supply.
China’s latest overture to Pakistan’s military signals more than just a routine strengthening of bilateral naval ties.
The EU leaders, on the first day of the summit in Brussels, agreed to ban “more than 2/3rd” of Russian…
Following the withdrawal of the US waiver, India has stopped contracting oil shipments from Iran.
Iranian oil is a lucrative buy for refiners as the Persian Gulf nation provides 60 days of credit for purchases, terms not available from suppliers of substitute crudes -- Saudi Arabia, Kuwait, Iraq, Nigeria, and the US.
Sources said the US was prepared to work with countries that were reducing their oil imports on a case-to-case basis.
Visiting US Permanent Representative to the United Nations Nikki Haley had taken up the Iranian nuclear issue with Prime Minister Narendra Modi on Wednesday night.
A month after US President Donald Trump pulled out of an international nuclear deal with Iran, India’s State Bank of India reportedly informed oil refiners that it would not handle payments for the crude from November.
India’s trade deficit in February at $12 billion narrowed from an over a four-year high of the previous month at…
