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Puri warns West Asia crisis could escalate; says India does not need refinery investment
The brief
- Oil Minister Hardeep Puri said the West Asia crisis is not over and could escalate further
- Puri said there is outside interest in investing in Indian refineries, but India does not need it
- Further West Asia tensions could pressure oil costs and refining margins for Indian oil companies
- Oil prices rebound after Trump rejects peace deal to resolve Iran conflict
- Crude oil price dips as traders weigh US-Iran Hormuz talks, supply risks
- Oil prices fall after Iran asks U.S. to return to failed memorandum of understanding from June
- Replacing 1 million bpd of Russian oil could cost India up to $3.7 billion annually
- Italy to Convene Oil Refiners as it Seeks to Boost Fuels Output
Saudi oil shipments through the Strait of Hormuz
Saudi Arabia increased crude shipments to Asian buyers, including India and China, as the Iran war and Hormuz crisis raised supply concerns. Ship-to-ship oil transfers in the Gulf of Oman have reached capacity amid the surge in exports.
Friday, 25 September
Thursday, 24 September
- Puri warns West Asia crisis could escalate; says India does not need refinery investment