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Fresh US-Iran clash clouds IEA oil outlook despite June supply lift from Hormuz reopening
Global oil supply rebounded in June after a ceasefire allowed Strait of Hormuz transit. However, renewed hostilities between the United States and Iran threaten future oil surplus forecasts. The International Energy Agency sees potential disruption to its 2027 surplus projection. Refined product markets remain tight due to refinery issues and Ukrainian attacks. Global oil demand is recovering, but overall supply forecasts depend on lasting peace.
From Hormuz shock to energy security: How Reliance kept India's fuel lifeline intact
Reliance Petrochemicals, Reliance Oil Business, AGM 2026: Reliance Industries ensured energy security during a West Asian conflict. The company redirected domestic natural gas to critical sectors. It also increased LPG supplies fourfold. This action bridged import disruptions and maintained cooking fuel availability nationwide. Reliance's oil and gas business showed strong operational performance. The Jamnagar complex is set to become an autonomous refinery.
Cairn, Vedanta Oil & Gas raises output from Hazarigaon gas field in Assam
Cairn Vedanta Oil & Gas has achieved a significant milestone in Assam. The Hazarigaon field recorded its highest gas production. This contributes to India's energy security. The field supports tea gardens, powers CNG buses, and supplies gas to Numaligarh Refinery. The company ensures responsible operations and efficient resource use. This work reflects steady progress in the region.
India shielded fuel supply through crude diversification amid Hormuz turmoil: S&P Global Energy official
India's refinery operations remain robust despite global energy market disruptions from the Strait of Hormuz crisis. The nation has diversified crude purchases, increasing imports from multiple sources, including significant Russian oil acquisition, to maintain domestic fuel supplies. While India's energy system faces pressure, its efficient buying strategy and diversified sourcing have kept refineries running at strong levels.
Crude oil surges above $119 amid Iran conflict, Gulf energy attacks raise supply fears
Crude prices surged past $119 a barrel as attacks on Gulf energy assets, including Qatar's LNG plants and Saudi Arabia's Yanbu refinery, intensified fears of prolonged market disruptions. Indian policymakers are preparing for a sustained supply crunch and higher energy prices, with refiners worried about absorbing rising costs amid government reluctance to approve retail fuel price hikes.
HMEL to invest Rs 2,600 cr in speciality, fine chemicals sector in Punjab: LN Mittal
HPCL-Mittal Energy Limited (HMEL) announced a Rs 2,600 crore investment in Punjab's speciality and fine chemicals sector. Additionally, HMEL plans to launch 500 new retail fuel outlets nationwide, equipped with modern technology. This expansion follows HMEL's significant Rs 60,000 crore investment in its Bathinda refinery, Punjab's sole oil refinery.
Reliance to partner AFR for $300 billion US oil refinery project
Reliance Industries will partner with America First Refining to build the first major US oil refinery in 50 years in Brownsville, Texas. Hailed as a "historic $300 billion deal" by President Trump, the project aims to boost American energy production and create thousands of jobs, with construction slated to begin in Q2 2026.
RIL shares rise 2% as Trump announces $300 billion US refinery project with Ambani backing
Reliance Industries shares gained 2% after U.S. President Donald Trump announced the company would partner in developing a $300 billion oil refinery in Brownsville, Texas. Trump described the project as the "biggest in U.S. history," aiming to boost American energy production and create thousands of jobs. Reliance Industries has not yet confirmed the statement.
Reliance to invest in first new US oil refinery in 50 years, says Trump; calls $300 billion Texas project ‘historic deal’
Reliance Industries will partner with America First Refining to build the first new U.S. oil refinery in 50 years. The $300 billion project, planned for Brownsville, Texas, is hailed as the largest in U.S. history and a significant boost for American energy production.
India ensures household gas supply amid global energy crisis
India is diverting imported and domestic gas to priority sectors like households and CNG vehicles due to supply crunches caused by the Iran war. Petrochemical units and power plants may face complete allocation cuts, while fertilizer and refinery supplies are also reduced. GAIL will manage the diversion, with a common price set by the oil ministry.
Global oil markets on edge as West Asia unrest triggers new energy shockwave
Crude oil prices have surged to near one-year highs as escalating conflict in West Asia threatens key supply routes, particularly the Strait of Hormuz. Rising geopolitical risks, refinery disruptions and tanker delays are pushing prices higher, raising inflation concerns and creating economic vulnerabilities for major Asian importers, including India, China, Japan and South Korea.
Top Gainers & Losers on March 02: IndiGo, RVNL, Syrma SGS, LT Foods, Swiggy, OLA among top losers today
On March 2, the Indian stock market fell over 1% amid rising Middle East tensions after US and Israeli attacks on Iran. Iran retaliated, raising fears of war and causing crude oil prices to spike, with Saudi Aramco halting operations at a refinery following a drone strike.