Rakesh Sharma

India’s oil demand growth this year could tumble to its lowest level since the pandemic as the fallout from the Middle East conflict saps fuel consumption in the world’s third-biggest crude importer.

India signaled interest in deeper energy ties with Venezuela, including sourcing crude supplies and investments in the country’s oil sector, after acting Venezuelan President Delcy Rodríguez held talks with Prime Minister Narendra Modi in New Delhi.

(Bloomberg) – India signaled interest in deeper energy ties with Venezuela, including sourcing crude supplies and investments in the country's oil

India is set to introduce a program to spur compressed biogas production through higher guaranteed purchase prices and subsidies for new plants, a bid by Prime Minister Narendra Modi’s government to lower carbon emissions and cope with soaring fossil fuel costs.

India is set to launch a new high-ethanol fuel blend in the market, its latest effort to diversify supplies and reduce the country’s reliance on imported oil.

India raised prices of domestic cooking gas for the second time since the Iran war started, to help state retailers cut losses on discounted fuel sales.

The US military fired at an empty tanker for its suspected involvement in the Iranian oil trade this week as Washington continues to enforce a blockade of the Islamic Republic’s ports.

India has ramped up purchases of liquefied natural gas from the spot market as importers rush to replace disrupted Middle Eastern supply and meet demand from fertilizer plants, power generators and households.

India has imposed restrictions on diesel sales for 90 days after state-owned fuel retailers struggled to cope with demand even as the conflict in the Middle East is choking crude oil supplies.

India’s state-run refiners have already secured enough crude for the next two months and are in no rush to resume purchases from the Middle East even if the Strait of Hormuz reopens to commercial traffic.