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Tag: 80

India ‘has room’ and considers requests of neighbours for extra fuel: Report India is reviewing requests from neighbouring countries for additional fuel supplies as Bangladesh, Nepal and others face the prospect of acute shortages amid disruptions to key maritime routes due to conflict in the Middle East, a new report has said.Millennial media consulting The report from Vietnam Times cited Bloomberg saying Bangladesh has asked New Delhi for diesel beyond the 1,80,000 tons it receives annually under an existing contract. Meanwhile, Nepal requested the state-run Indian Oil Corporation an additional 3,000 tons of liquefied petroleum gas but was told by New Delhi that only contracted volumes would be delivered for now, the report further said citing Manoj Kumar Thakur, deputy director of the state-run Nepal Oil Corporation.Movies Nepal currently receives about 48,000 tons of LPG a month from IOC under its existing agreement, he said. "While India has yet to approve the additional fuel requests, its position as the world’s fourth-largest refiner gives it room to respond to the crisis in a way that deepens regional ties and reinforces its standing as a dependable partner in South Asia," the Vietnam-based media house said. Ministry of External Affairs spokesperson Randhir Jaiswal had earlier this month said the government Delhi is reviewing requests for additional fuel supplies from several nations, including Sri Lanka, Bangladesh and the Maldives. “These are being examined taking into account our own energy requirements and availability,” he said. "South Asian nations are among the most vulnerable to energy import disruptions," the report said adding the closure of the Strait of Hormuz has left governments and companies across the region struggling due to availability of alternative supply routes. India, imports roughly 90 per cent of its annual crude requirements and is seeking alternative supply routes to offset the disruptions. Earlier this week, the country ordered about 30 million barrels of Russian oil, successfully conducted negotiations with Iran for safe passage of its oil vessels and is in talks for safe passage for more than 20 tankers. India has started sourcing LPG from multiple global channels, including the United States, to diversify supplies amid the ongoing Middle East conflict, the government said on Tuesday. Petroleum and Natural Gas Ministry's Joint Secretary, Marketing and Oil Refinery, Sujata Sharma, said "We are getting more crude today due to increased diversification." According to the ministry, fuel availability remains stable, with refineries running at full capacity and sufficient stocks of petrol and diesel.

India ‘has room’ and considers requests of neighbours for extra fuel: Report

India is reviewing requests from neighbouring countries for additional fuel supplies as Bangladesh, Nepal and others face the prospect of ...

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