Topic
energy security
Commodities Australia considers first new oil refinery in over 60 years to boost energy security
Australia will consider building its first new oil refinery in more than 60 years, Prime Minister Anthony Albanese announced, with A$4 million funding for a feasibility study by Perdaman. The move aims to reduce reliance on fuel imports, which cover 80% of domestic needs, amid Middle East war supply disruptions.
Commodities India's Strategic Reserves Strategy: Crude Oil, LPG, and LNG for Energy Security
India is strengthening its energy security with strategic reserves for crude oil, LPG, and LNG. Current SPR capacity is 5.33 MMT (9.5 days of consumption), with plans to expand to 11.88 MMT. Experts advocate a three-tier policy: large physical crude reserves, distributed LPG reserves, and virtual LNG reserves to cover 90 days of consumption.
Commodities IEA warns global energy security at risk if Strait of Hormuz oil flows are not restored
IEA Executive Director Fatih Birol warned on July 17, 2026, that global energy security is at risk if oil flows through the Strait of Hormuz are not restored in the next few weeks. The waterway has been mostly blocked since the conflict began on February 28 with U.S. and Israeli strikes on Iran. Birol highlighted that China's stockpile of over 1 billion barrels and an IEA-coordinated release of up to 400 million barrels have moderated price rises, but these measures cannot last indefinitely.
Commodities ONGC Board Approves 1.75 Million Tonne Strategic Oil Reserve at Mangaluru
State-run Oil and Natural Gas Corporation (ONGC) announced its board has granted in-principle approval for a 1.75 million tonne strategic petroleum reserve at Mangaluru, Karnataka. The facility, developed as Phase-I expansion of the existing reserve, aims to bolster India's energy security amid geopolitical uncertainty. India, the world's third-largest crude importer, relies on imports for over 88% of its crude requirements.
Trade How India managed the Strait of Hormuz crisis without disrupting household energy supplies
India successfully managed the Strait of Hormuz crisis triggered by a US-Israel strike on Iran on February 28, avoiding disruption to household energy supplies. The response involved a rapid LPG Control Order, a surge in domestic LPG production from 35,000 to 54,000 tonnes/day, and diplomatic efforts to secure passage. The crisis was cushioned by a decade of infrastructure investments including doubling LPG import terminals to 22 and expanding refinery capacity to 258 million tonnes per annum.
Commodities India's strategic gas storage: LNG buffer mandate for terminals in the works - what it means
India is planning to require LNG terminal operators to create additional storage capacity as a strategic gas reserve, allowing cost recovery through higher regasification charges. The move follows supply disruptions through the Strait of Hormuz during the Iran conflict. Separately, India is diversifying LPG imports, with the US emerging as the largest supplier, and oil marketing companies are asked to prepare a roadmap for a 30-day strategic LPG reserve.
Commodities India launches first strategic natural gas storage amid West Asia supply disruptions
India has started developing its first strategic natural gas storage system, prompted by supply disruptions from the West Asia conflict. Public sector oil companies are evaluating underground salt caverns and cryogenic LNG tanks. A Petroleum Ministry committee is assessing storage options for LNG and LPG, while a CEEW study notes India imports nearly half its gas requirement without any dedicated strategic storage.
Commodities India and Japan to Sign LNG Security Pact Amid Global Supply Disruptions
India and Japan are set to sign an agreement to strengthen LNG supply security during the annual summit between PM Modi and PM Takaichi. The pact includes a joint task force for stockpiling and information-sharing, amid ongoing global supply chain disruptions.
Commodities India Plans 30-Day LPG Storage Buffer After Iran War Exposes Hormuz Supply Risk
State-run OMCs in India are developing a 30-day strategic LPG reserve to mitigate supply risks highlighted by the Iran conflict, with BPCL investing roughly Rs 5,000 crore to nearly double its storage capacity. The plan includes expanded onshore, underground, and floating storage, alongside import diversification from the US, Europe, and Russia. India imports nearly 60% of its LPG, with about 90% of those imports passing through the Strait of Hormuz.
Commodities India's Crude Imports Bounce Back to Pre-Conflict Levels as Refiners Diversify Sources
India's crude oil imports have rebounded to near pre-conflict levels despite Middle East disruptions, as refiners diversified away from Gulf suppliers. HSBC reports that Russian crude, trading at a discount, has become a key alternative. A temporary 'mini-glut' from reopened Hormuz shipping is expected to ease as inventories are rebuilt.
Commodities Energy security during Middle East crisis: Why India keeps relying on state-run oil firms despite privatisation bids
India's state-run oil marketing companies (OMCs) — IOC, BPCL, and HPCL — played a critical role in maintaining fuel supplies during the Middle East conflict, absorbing a 50% surge in global crude prices and preventing rationing. The crisis reinforced the strategic importance of these firms, which had twice been slated for privatisation, as they leveraged strategic reserves, reconfigured refineries, and coordinated logistics to shield consumers.
Commodities India diversifies LPG imports from West Asia conflict zones as OMCs absorb price shock
India drastically shifted its LPG import sources during the West Asia conflict, reducing dependence on the Gulf from 90% to a more diverse portfolio including the US, Iran, and others. The Saudi Aramco Contract Price surged 46% between February and June, but household prices rose only 10% as oil marketing companies absorbed the shock, incurring under-recoveries of ₹651 per cylinder and cumulative losses of ₹22,000 crore. LPG consumption fell sharply, with commercial users hit hardest.
Commodities Coal Gasification Crucial for India's Energy Security and Import Reduction, Says Minister
Union Coal and Mines Minister G Kishan Reddy emphasized that coal gasification is vital for India's long-term energy security and reducing import dependence. Speaking at a roadshow in Mumbai, he highlighted the National Coal Gasification Mission's target to gasify 100 million tonnes of coal by 2030, enabling domestic production of key products like methanol, hydrogen, and urea. Maharashtra Chief Minister Devendra Fadnavis also invited investors to the state, underscoring energy self-reliance.
Commodities Coal gasification can cut import dependence and strengthen energy security: Union minister
Union coal minister G Kishan Reddy said at a roadshow that accelerating coal gasification projects can significantly reduce India's import dependence and strengthen long-term energy security. The government has set a target of gasifying 100 million tonnes of coal by 2030 under the National Coal Gasification Mission.
Commodities India May Require Refiners to Triple Crude Oil Inventories After Lessons From China
Drawing lessons from China, India may ask domestic refiners to maintain significantly larger crude oil inventories as a safeguard against future supply shocks. The proposal, still at an early stage, would require refiners to hold stocks beyond the current 15-day operational buffer. If implemented, refiners could need to hold around 150 million barrels, requiring nearly Rs 60,000 crore in additional crude purchases and billions more in storage infrastructure.
Logistics US military runs secret ship-to-ship oil transfer operation near Strait of Hormuz to keep Gulf energy exports flowing
The US military has conducted scores of secretive ship-to-ship oil transfers off the coast of Fujairah, UAE, and Sohar, Oman, to keep Gulf energy exports flowing amid Iran's closure of the Strait of Hormuz. The operation, involving at least 116 ships and using aerial and water drones as well as helicopters, started in early May. An Apache helicopter involved in the mission was shot down by Iran on June 9, triggering retaliatory bombings.
Commodities US-Iran Peace Deal Could Push Brent Below $80 per Barrel, Boosting India's Crude Oil Supplies
A potential US-Iran peace deal, including the reopening of the Strait of Hormuz, could push Brent crude below $80 per barrel within two to three weeks, according to Indian refinery executives. The Gulf region supplied 40% of India's crude imports before the conflict, and resumed flows would ease supply constraints and lower freight costs. Additional OPEC+ output and the return of Iranian crude are also expected to pressure prices lower.
Commodities India Has Over 60 Days of Crude and Gas Stocks, Hardeep Puri Rules Out Energy Crunch
India holds over 60 days of crude and natural gas stocks and 75-80 days of LPG, according to Union Minister Hardeep Singh Puri. Domestic LPG production has risen sharply, and fuel prices have fallen 3.1% since May 2022, contrasting with steep increases in other nations. The minister also outlined a push for E85 fuel pumps and piped natural gas.
Trade US Invests $1.5B in LNG Infrastructure in India & SE Asia
The US is set to invest $1.5 billion in energy infrastructure, focusing on LNG, in India and Southeast Asia. This move aims to enhance energy security and expand US exports.
Trade India-Oman CEPA Boosts Trade and Energy Security
The India-Oman Comprehensive Economic Partnership Agreement (CEPA) is set to enhance trade resilience and energy security. The agreement offers India duty-free access to Oman, boosting exports in key sectors.