lng

Union Minister Nitin Gadkari declared that petrol and diesel vehicles have no long-term future in India, urging the auto industry to accelerate its shift to cleaner fuels like biofuels, CNG, lng, and electric powertrains. Pilot projects for hydrogen-powered mobility are underway, with hydrogen hailed as the "fuel of the future.

Domestic urea production has bounced back to last year's levels, with April output reaching 21 lakh tonnes, a significant recovery after a March dip. With natural gas supplies largely restored and robust import assurances, the government confirms ample fertilizer availability to meet the upcoming kharif crop needs, ensuring farmers remain unaffected by global price hikes.

Data from MarineTraffic shows that several Indian and foreign ships headed for Indian ports are still awaiting clearance near the Strait of Hormuz. According to the petroleum ministry, 17 vessels have been identified for evacuation.

Global oil prices have soared past $120, reaching their highest point since 2022. This surge is driven by fears of prolonged supply disruptions stemming from a US blockade of Iran and its impact on the vital Strait of Hormuz. Adding to market jitters, the UAE's exit from OPEC introduces further uncertainty regarding global energy supply management.

Pakistan admits its vulnerability to global oil shocks, lacking strategic reserves like India, which holds 60-70 days of stock. Islamabad's limited reserves leave it exposed, unlike India's stable prices aided by fiscal space and strategic stockpiles. Pakistan's IMF commitments restrict its ability to offer consumer relief amid soaring crude prices.

Despite global energy supply strains due to Middle East conflict, India's government assures robust domestic fertilizer availability, exceeding current requirements. Commercial LPG allocations have also increased, with officials confirming sufficient supplies and no distributor dry-outs, even as panic buying is reported.

Washington isn’t interested in being a guarantor of anything, including energy supplies. New Delhi’s strategic response must centre around the one energy source it has in abundance

US President Trump's second term prioritizes oil, leveraging energy dominance for global influence. Campaign funding from oil interests aligns with policies boosting domestic production and easing regulations. Sanctions on rivals and geopolitical events like the Hormuz crisis engineer demand for American exports, impacting nations like India and reshaping global energy markets.

Oil prices dipped Wednesday after an initial Asian surge, as traders weighed US-Iran peace talk uncertainties following Washington's ceasefire extension. Disruptions in the Strait of Hormuz continue to fuel market anxiety. Geopolitical developments, including potential pipeline issues and upcoming US inventory data, are also influencing price movements, suggesting continued volatility.

Pakistan faces severe electricity shortages due to disruptions in the Strait of Hormuz. The ongoing Middle East conflict has impacted energy supplies, leading to extended power outages for homes and industries. Businesses are struggling with up to eight hours of loadshedding daily. Pakistan relies heavily on Qatar for lng imports, and supply issues are intensifying.

The India Meteorological Department has forecast the possibility of El Nino conditions during the South West monsoon season. Economists and experts note that a weak monsoon will add to the woes caused by higher crude oil prices, and fertilizer supply disruptions.

Exporters and end consumers are not permitted to file claims directly, although some companies, such as FedEx, may opt to pass on the refunded amounts at their discretion.

India is bolstering its engagement with the Gulf as a fragile ceasefire takes hold in West Asia. Union Minister S. Jaishankar is visiting the UAE to deepen strategic ties, while Minister Hardeep Singh Puri is in Qatar to secure vital energy supplies.

Iran knows it cannot compete with the US and its allies in a conventional naval contest. Instead, by deploying swarms of armed speedboats, it is turning the Strait of Hormuz chokepoint into leverage

The Strait of Hormuz is a narrow stretch which is important for global trade flows, and is alone responsible for the transit of a fifth of the world’s oil supply. Asian economies like India and China source a big chunk of their crude oil, LPG, and lng requirements via this strait.

The Strait of Hormuz's reopening remains uncertain despite Iranian and US claims. While some vessels attempted passage, many turned back, with the International Maritime Organization seeking clarification on safety. The US maintains its naval blockade, while Iran warns of re-closure if the blockade persists, impacting vital global oil and lng transit.

The Indian-flagged LPG tanker Jag Vikram successfully navigated the Strait of Hormuz, marking the first Indian vessel to pass through the conflict zone since a temporary ceasefire. This vessel, carrying 20,400 tonnes of cooking gas, is expected to reach Mumbai on April 15.