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Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz. Within a few years, much of that oil could bypass the strait. As Iran's chokehold over the strait drags on and oil prices surge, countries across the Gulf are planning to spend billions of dollars to build pipelines enabling them to redirect more supplies to ports along the Red Sea, Suez Canal and Gulf of Oman. At least seven major pipeline projects are under construction, in the planning stage or being discussed as possibilities, according to government officials, oil companies and analysts. Even alternatives to Hormuz can become vulnerable, as Iran-backed Houthi rebels in Yemen have shown this week with a stated blockade on Saudi-linked vessels attempting to transit the Red Sea. But the war has been a wake-up call for Gulf oil producers, who are determined to become less dependent on a transit point that hugs Iran's coast. Some alternative routes will take th
Protests over the soaring cost of fuel spread disruption across Ireland on Saturday with many gas stations running dry as truck and tractor drivers staged a fifth day of blockades at the country's sole fuel refinery and several depots. Vehicles blocking traffic led to closures of the main highway around the capital, Dublin, as well as six other major roadways. More than a third of the 1,500 service stations in the republic are out of fuel and that number is expected to grow dramatically if the roadblocks remain, Fuels for Ireland chief executive Kevin McPartlan said. Irish police put all its officers on notice they could be called to duty over the weekend and the military was on standby to help remove the vehicles as the government was due to renew talks Saturday to resolve the dispute. Frustration over the soaring cost of fuel led to the protests that began Tuesday and have continued to grow as word spread on social media. Government officials, who had already introduced measures
India's rapeseed-mustard production is estimated to rise 3.5 per cent to 119.4 lakh tonne in the 2025-26 rabi season, driven by higher acreage, industry body Solvent Extractors' Association of India (SEA) said on Monday. Total production stood at 115.2 lakh tonne in the 2024-25 rabi season. Area under the crop rose to 93.91 lakh hectares from 92.15 lakh hectares a year earlier, while average yield improved to 1,271 kg per hectare from 1,250 kg per hectare, supported by favourable weather conditions and improved agronomic practices, SEA said in a statement. Rajasthan remained the top producing state with output estimated at 53.9 lakh tonne. Uttar Pradesh recorded a notable rise to 18.1 lakh tonne, while Haryana showed steady growth at 12.7 lakh tonne. West Bengal and Gujarat also registered gains, with production estimated at 7.4 lakh tonne and 5.9 lakh tonne, respectively. Assam reported lower yields, with output declining to 2.1 lakh tonne, while Bihar remained largely stable at
Production growth in eight core infrastructure sectors slowed down to 2.3 per cent in February from 3.4 per cent in the same month last year, according to government data. Production of crude oil, natural gas, and refinery products declined during the month. During April-February, the cumulative production growth in infrastructure sectors was 2.9 per cent, compared with 4.4 per cent in the same period of the last financial year.
The White House said President Donald Trump would waive, for 60 days, Jones Act requirements for goods shipped between US ports to be moved on US-flagged vessels. The 1920s law, designed to protect the American shipbuilding sector, is often blamed for making gas more expensive. The moves highlight the increased pressure that the Republican administration is under to ease soaring oil prices as the United States, along with Israel, wages a war with Iran without a foreseeable end date. Global oil prices have since spiked as Iran halted traffic through the narrow Strait of Hormuz, where one-fifth of the world's oil typically passes through from the Persian Gulf to customers worldwide.