indian oil

indian oil Corporation has assured that LPG, petrol, and diesel supplies in Odisha remain stable despite global energy market tensions. The company has also launched a user-friendly grievance system for Indane LPG customers, including a 24-hour helpline for emergencies and digital platforms for general complaints, aiming for resolution within three days.

An India-linked supertanker, Sarv Shakti, has successfully crossed the Strait of Hormuz, a critical energy corridor under intense pressure due to Middle East tensions. This passage marks a significant breakthrough for India, the world's second-largest LPG consumer, as it secures essential cooking fuel amid disrupted supply chains and a US blockade on Iran-linked shipping.

Middle East conflicts are driving crude oil prices above $100 per barrel, significantly boosting earnings for Indian upstream oil giants like ONGC and Oil India. While these companies anticipate substantial profit increases due to higher realisations, they face challenges from declining production in aging fields.

Hotels, restaurants, bakeries, and canteens across Kerala will observe a 24-hour shutdown on May 6 to protest a significant increase in cooking gas prices. Online food delivery services will also be suspended during the statewide agitation, which includes protest marches and dharnas demanding a rollback of the LPG price hike.

India’s imports of Russian crude oil have declined 20 per cent month-on-month in April to 1.57 million barrels per day, easing from the sharp surge recorded in March. The spike in March had been driven by the availability of floating cargoes during the Iran conflict.

Aviation Turbine Fuel standards have been updated to permit synthetic fuel blends, enhancing clarity amidst rising alternative fuel use. Meanwhile, indian oil assures no disruption in petrol and diesel supplies across northern regions, with robust stock levels. LPG demand has surged due to global conflicts, extending delivery times, though supply chains remain stable.

Commercial LPG cylinder prices have surged by nearly 50%, marking the highest single-day hike by state-owned oil firms. Domestic LPG, petrol, and diesel prices remain unchanged despite global energy cost increases. This move impacts industrial consumers and migrant populations relying on smaller commercial cylinders, while airlines face rising ATF costs.

Jharkhand faces a significant backlog of over 4 lakh LPG refill deliveries, leaving consumers struggling with persistent supply issues. While oil companies assure the backlog will be cleared within five days, many residents in Ranchi are still queuing for hours. Despite assurances of normal supply, consumers report difficulties, prompting calls for complaints to authorities.

State-run fuel retailers will not receive government financial backing for losses incurred from selling petrol, diesel, and aviation turbine fuel below cost. Despite rising crude oil prices, the government has opted to shield consumers by not revising retail prices for these fuels, focusing instead on price adjustments for bulk diesel and commercial LPG.

Commercial shipping through the Strait of Hormuz faces immense risks despite remaining technically open, with Indian vessels experiencing significant disruptions and safety concerns. Seafarers exhibit hesitation due to past incidents, impacting normal traffic flow and leading to increased operational costs for shipowners.