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News Reports

US lifts sanctions on Iranian crude: How Tehran’s oil exports are rebounding after years of restrictions and why prices could ease

Rukma Rathore -
"Strait of Hormuz crossings rebounded sharply over 19th-21st June, with 71 confirmed transits," pointed out Kepler.
Opinions

Mr Donald Trump, the Strait of Hormuz was open and toll-free before you started the war against Iran, so what victory exactly are you...

Sanghamitra -
Before the war endangered commercial shipping in the world’s most energy-focused trade route, tankers moved smoothly through the Strait with no tolls imposed on routine traffic. After the U.S. and Israel started bombing, Iran retaliated by shutting it down, attacking vessels, and the U.S. imposed its own blockade.
Economy and Finance

Oil and gas production to resume along Assam-Nagaland border after 3 decades: Centre, Assam and Nagaland sign historic tripartite agreement for exploration in Naga-Schuppen...

OpIndia Staff -
In a landmark development that promises to significantly boost India’s domestic hydrocarbon production and reduce dependence on imported crude oil, a historic tripartite Memorandum...
Editor's picks

Modi govt cuts royalty charges on crude oil and gas production to boost India’s upstream energy sector, removes inconsistencies to make production more investor-friendly

OpIndia Staff -
As per the notification issued by the Central government, royalty on onshore crude oil production has been lowered from 16.66% to 10%.
News Reports

Indian cargo ship Bhagya Laxmi and crude tanker Desh Suraksha return to Persian Gulf after Iran denied permission to cross Strait of Hormuz, several...

OpIndia Staff -
Two Indian ships, a cargo ship and an oil tanker, were forced to make a U-turn in the Strait of Hormuz today after Iranian...
News Reports

Iranian crude reaches India after a 7-year gap, Ambassador Mohammad Fathali confirms ‘no tolls’ for Indian ships in Hormuz

OpIndia Staff -
India has resumed importing Iranian crude oil after a seven-year hiatus, with two tankers docking at Sikka and Paradip ports.
Economy and Finance

Cabinet approves enhancement of project cost for HPCL’s new refinery in Rajasthan to ₹79,459 crore amid Middle East crisis, Jaipur Metro Phase-2 approved

OpIndia Staff -
The Union Cabinet, chaired by Prime Minister Narendra Modi, gave its approval to two significant infrastructure projects in Rajasthan, aimed at enhancing energy security,...
Government and Policy

India imports crude oil from Iran for the first time since 2019, Petroleum Ministry debunks fake news about diversion of cargo ship to China...

OpIndia Staff -
India has not been buying Iranian oil for the past 7 years due to US sanctions, which were lifted temporarily in March this year.
Editor's picks

ONGC plans $18-20 billion deep-water exploration push, aims for largest ever oil drilling project for India’s energy security

OpIndia Staff -
ONGC issued a global tender for hiring deep water oil rigs as part of the government's Samudra Manthan mission, which seeks to enhance India's energy security.
News Reports

Are Trump’s sudden announcements of escalation and ceasefire with Iran linked to US stock market manipulation? Read what we know

Anurag -
Large trades in oil and S and P 500 futures, executed just before Trump’s announcement, coincided with sharp market moves and estimated profits within minutes, as Iran rejected claims of talks and called the narrative misleading.
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