Russia has started seaborne imports of gasoline from India, two industry sources said on Wednesday, in an effort to mitigate fuel shortages triggered by Ukrainian attacks on its energy infrastructure.
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A member of parliament said the Oil Ministry’s performance during the recent conflict helped prevent fuel and energy shortages across the country despite attacks on critical infrastructure.
India expects prices of both oil and gas to drop in the coming months, with enough stocks available despite the U.S.-Israeli war with Iran that has squeezed energy supplies, Oil Minister Hardeep Singh Puri told broadcaster CNN-News18 on Monday.
Oil Ministry is ready to implement a system linking fuel cards to bank cards, but the plan requires cooperation from the Ministry of Economic Affairs and Finance, Oil Minister Mohsen Paknejad said Sunday.
Analysts have slashed their estimates of India's oil demand growth this year, with the consumption uptick to be the weakest since the Covid pandemic as the supply crunch and higher fuel prices slow gasoline and diesel demand.
The 60% increase in gasoline prices in Canada following the war against Iran has driven up costs across the country.
The Iranian Oil Ministry prioritizes non-price reforms in managing gasoline consumption, the oil minister said, emphasizing that the ministry is not the decision-making authority regarding pricing or rationing.
Reviving compressed natural gas capacity, one of the 14th administration’s top priorities, has entered the operational phase over the past year through a series of measures, including the launch of a free vehicle conversion program, construction of new CNG stations and increased factory production of dual-fuel vehicles. The initiative has gained urgency as gasoline consumption has outpaced production and much of the country’s CNG capacity has gone unused.
Iran ranks among the world’s 10 countries with the largest thermal power generation capacity, a senior official at the Thermal Power Plants Holding Company (TPPH) said.
Power plant gasoil reserves reached more than 3.4 billion liters for the first time in the country’s history in Aban this year, equivalent to more than 90% of total storage capacity. The level marks an increase of 86% and 6%, respectively, compared with the highest reserves recorded in the Iranian years 1403 (2024) and1402 (2023).
The head of Iran’s parliamentary Energy Committee said diversifying the country’s fuel mix is essential and has been clearly outlined in the Seventh Five-Year Development Plan.
Iran’s 14th administration has rolled out coordinated fuel and vehicle initiatives to reduce emissions and improve urban air quality.
The NIOPDC chief stated the company has taken necessary steps and is fully ready to implement Iran’s new gasoline plan.
President Masoud Pezeshkian, speaking at Shahid Beheshti University’s Student Day, condemned sectoral imbalances and urged fair gasoline pricing to safeguard vulnerable Iranians.
Iran’s Parliament Speaker Mohammad Bagher Ghalibaf announced that fuel pricing authority now fully rests with the executive branch, making recent gasoline and diesel price adjustments legally valid.
Iranian Oil Minister Mohsen Paknejad stated that the formation of a “Supreme Energy Council” is under consideration to improve coordination among various energy sectors in the country.
About 53 million liters of gasoline are distributed daily in Iran using station emergency fuel cards, the head of the National Iranian Oil Products Distribution Company said.
The head of the National Iranian Oil Refining and Distribution Company said 391 million liters of low-sulfur mazut had been delivered to four thermal power plants by late November.
India has exported its first-ever cargo of jet fuel to the U.S. West Coast, capitalizing on a rare arbitrage window created by severe supply shortages in California following a major fire at Chevron’s El Segundo refinery.
President Masoud Pezeshkian gave automakers one year to improve engine efficiency or face losing foreign currency and production permits, stressing government-backed adoption of modern technologies and prioritizing safe, electric vehicle production.