Iran Offers Navigation Support to India Amid US Blockade

Iran announced that it will provide navigation support in the Strait of Hormuz as it has good contact with the country. Iran also denied charging a toll for Indian tankers transiting through the passage, Times of India reported. 

India has repeatedly denied paying any toll to secure the exit of the ships since the blockage and has secured nine LNG tankers since Iran has closed the passage of tankers, while 15 India-flagged ships remain stuck in the pathway. 

Trump’s Texas Refinery to Have $40 million Investment from Reliance 

A Texas refinery that is being called a “historic $300 billion deal” by Trump will only have an initial outlay of $40 million by the Reliance Industries and does not reach the hurdle for stock exchange notification, reported Financial Times. The refinery will be the first new refinery in the US in 50 years. 

However, three weeks since the announcement, India’s largest refiner has made no public announcement and will be involved in various aspects of the Brownsville refinery. 

Current Oil and Gas Crisis Worse Than 1973, 1979, 2022 Together: IEA Chief

The IEA’s Fatih Birol told Le Figaro that the current energy crisis is worse than those of “1973, 1979 and 2022 combined”, Reuters reported adding that Birol said, “The world has never experienced a disruption to energy supply of such magnitude”. The Guardian also covered the interview and said that Birol added that developing nations ⁠would suffer the most from higher oil and gas prices, higher food prices and an acceleration of inflation, while European nations would also feel an impact. The Financial Times’ Energy Source newsletter reported Birol’s six predictions for how the energy crisis will shape the future. These include an acceleration of nuclear power, an increase in coal use and an uptick in renewable power installations in Europe, according to the outlet. 

India Working on Reducing LPG Dependence to Prevent Fuel Crisis

The Indian government is working on reducing the LPG dependence and is enhancing energy security for the medium to long term, said Suresh Gopi, minister of state for environment in a written response. India is also prioritising piped natural gas (PNG) and renewable energy development, including solar, wind, and green hydrogen, reported Hindustan Times. 

Additionally, as a part of diversifying LPG imports, PSU oil marketing companies have recently concluded contracts for import of approximately 2.2 million metric tonnes (MMT) of US-origin LPG for 2026, which will cover nearly 10% of the country’s total LPG import requirement.

India to Revisit Kerosene Amid Geopolitical Shocks and Reduced LNG Availability 

The geopolitical turbulence and LPG crisis has prompted India to revisit kerosene that was almost phased out. India has allowed a short-term return of PDS kerosene for household cooking and lighting in 21 states and Union Territories, reported Down to Earth. 

This move follows kerosene’s declining role in India’s energy system.  Data from Energy Statistics India 2026, published by the Union Ministry of Statistics and Programme Implementation (MoSPI), reveals kerosene production dropped to approximately 1 million tonnes (provisional) in the 2024-25 financial year. This is a significant decrease from 7.6 million tonnes in 2014-15.

Madagascar Declare State of Emergency Over Energy Crisis 

Madagascar has declared a nationwide state of emergency for 15 days, citing disruptions in energy supplies caused by the US-Israel war on Iran, reported Reuters.

Several African governments have also responded ⁠to surging global oil prices, ​spurred by the Iran war, by implementing sharp ​fuel price increases, energy-saving measures, or electricity rationing.

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