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OMCs eye expanding LPG buffer to 30 days from national average of 18
India is boosting its LPG reserves to a 30-day supply, a strategic move prompted by the Iran war highlighting supply route vulnerabilities. Bharat Petroleum plans a significant investment to nearly double its storage capacity. This initiative aims to enhance energy security by diversifying import sources and exploring various storage solutions, including onshore, underground, and floating options.
Oil finds its way: Supertankers return to Persian Gulf
Supertankers are once again navigating the Strait of Hormuz, a crucial oil route, following a period of disruption due to recent Iran conflict. Shipping data indicates a significant increase in commodity vessel traffic, including oil tankers, signalling renewed confidence among shipowners. This return of large carriers, with a combined capacity of millions of barrels, is vital for global energy markets as hostilities ease ahead of peace talks.
30 India-bound ships cross Strait of Hormuz since Iran war began, 26 more await transit
Thirty ships bound for India have successfully navigated the Strait of Hormuz, a crucial route disrupted by recent geopolitical tensions. An additional 26 vessels are awaiting passage. Among those that transited, a significant portion carried vital energy supplies like LPG and LNG, alongside bulk cargo and crude oil. This development follows a recent agreement, easing concerns over energy imports for India.
Power Grid emerges as successful bidder for inter-regional transmission project
Power Grid Corporation of India said it has emerged as the successful bidder under the tariff-based competitive bidding route for the "WR-ER Inter-Regional Network Expansion Scheme Part-A" Inter-State Transmission System (ISTS) project.
Silver prices jump ₹6,000 to ₹2.52 lakh/kg amid easing West Asia tensions
Silver prices rallied by Rs 6,066 to Rs 2.52 lakh per kilogram in futures trade on Monday as easing geopolitical tensions in West Asia and a weaker US dollar improved sentiment in the bullion market. On the Multi Commodity Exchange, the white metal for July delivery surged Rs 6,066, or 2.46 per cent, to Rs 2,52,252 per kilogram in a business turnover of 11,420 lots. In the past week, silver fell Rs 2,351, or nearly 1 per cent, to Rs 2.46 lakh per kg. The rebound comes after US and Iranian officials announced that they had reached an initial agreement to end the conflict, lift the US naval blockade on Iran and reopen the Strait of Hormuz, a key route for global energy supplies. In a post on Truth Social, US President Donald Trump said, "The deal with the Islamic Republic of Iran is now complete," adding that he had authorised the reopening of the Strait of Hormuz and the immediate removal of the US naval blockade. In the international markets, Comex silver futures for July contract
Shipowners seek clarity on Strait of Hormuz deal as 600 vessels eye exit
Shipowners and traders are cautiously awaiting details on a potential reopening of the Strait of Hormuz, a vital oil and gas route disrupted by conflict. While a US-Iran deal is announced, concerns about safety, mines, and Iranian actions persist, leaving hundreds of vessels stranded and global energy trade in limbo.
NLC India OFS oversubscribed 5.22 times on day one; govt exercises full greenshoe option
Strong institutional demand prompted the Centre to scale up stake sale to 3%, raising about ₹1,260 crore via the disinvestment route.
Govt Forgoes Rs 1.23 Lakh Crore To Support OMCs After Petrol, Diesel Duty Cuts: Sources
The aid comes amid a global energy disruption triggered by the West Asia war and blockade of key maritime shipping route Strait of Hormuz.
INR appreciates under Rs 95 per dollar after RBI announces measures to support foreign capital inflows and strengthen forex liquidity
The Indian rupee appreciated 81 paise to close at 94.93 (provisional) against the US dollar on Friday after the Reserve Bank announced measures to support foreign capital inflows and strengthen forex liquidity. The announcements in the RBI policy boosted investor sentiments after the apex bank asserted that the country's forex reserves provide a sufficient buffer against external shocks. The Reserve Bank on Friday expectedly kept interest rates unchanged for the second time in a row as it weighed the impact of rising energy prices and supply disruptions caused by the West Asia crisis. The RBI kept its repo rate Steady at 5.25% amid uncertainty owing to US-Iran War. However, it expanded the Fully Accessible Route, or FAR, to include all new 15-year, 30-year and 40-year government security issuances. Due to this, the foreign investors will get wider access to longer-tenor Indian government bonds. This also opens up more room to invest in Indias bond market. The central bank has also ...
Behind Reliance Industries' sale of a step-down unit, an OFCD route
A ₹274-crore sale of a third-layer subsidiary by Reliance Industries to a former associate, Jaipur Enclave, in April had set off governance questions on related party transactions. It has now emerged that Reliance lent Jaipur Enclave ₹273.75 crore in convertible debt through another subsidiary.
NHPC OFS: Govt announces 6% stake sale via offer for sale route, floor price fixed at ₹71
The OFS will be undertaken through ICICI Securities, Goldman Sachs (India) Securities and SBICAP Securities. Shares of NHPC Ltd ended at ₹77.19, down by ₹1.63, or 2.07%, on the BSE.
IMEC, Indo-Pacific routes key to reducing Hormuz dependence: EY
India is urged to diversify its trade routes and develop new corridors like IMEC and the Indo-Pacific route. This aims to lessen dependence on the Strait of Hormuz amid West Asia tensions. The nation must prepare for economic shocks by building strategic reserves and shifting towards green energy.