US-Israel-Iran War LIVE News: Piyush Goyal claims no shortage of fuel in India, hotel industry chimes a differing noteMiddle East crisis: As the conflict in West Asia involving Iran, Israel and the US enters day 12, Mukesh Ambani-led Reliance Industries Limited (RIL) has said that proactive steps are being taken to increase LPG production from its refining and petrochemical facilities in Jamnagar, the world's largest integrated refining hub.
Meanwhile, government sources said that there is no nationwide LPG crisis and domestic household supply remains stable. The developments come as the availability of commercial LPG cylinders has gone down in several cities, including Delhi, Mumbai and Hyderabad.
Previously, Union Minister Piyush Goyal said on Wednesday that there is absolutely no shortage of fuel in India despite the growing uncertainty in global energy markets.
Speaking to reporters in Trichy, he said that the government is closely monitoring the evolving situation and taking necessary steps to ensure the availability of fuel across the country. He emphasised that the authorities remain vigilant and relevant departments are continuously reviewing developments to safeguard domestic supply chains.
Even as Goyal claimed that there is no shortage of gas and fuel, the hospitality industry has warned of a shutdown amid a shortage of commercial LPG cylinders. KB Kachru, the President of Hotel Association of India (HAI) and Chairman - South Asia, Radisson Hotel Group, warned that irregular supply could disrupt hotel and restaurant operations across the country.
Earlier in the day, the US destroyed 16 Iranian minelayers near the Strait of Hormuz after reports that Tehran was seeking to mine one of the world's key oil shipping lanes.
US President Donald Trump warned of "military consequences at a level never seen before" for Iran if the mines were not removed. "If Iran has put out any mines in the Hormuz Strait, and we have no reports of them doing so, we want them removed, IMMEDIATELY!"
He previously claimed that 10 inactive minelayers were sunk, with "more to come". Meanwhile, Israeli Prime Minister Benjamin Netanyahu has announced that Israel will approve a special wartime budget worth around $13 billion amid the ongoing conflict in West Asia.
Netanyahu said that the war requires substantial financial backing so that the Israel Defense Forces (IDF) has the necessary resources to sustain its operations. He emphasised that the country is in a prolonged and complex conflict and additional resources are necessary to maintain military readiness, support the IDF, and manage the war's broader impact.
Meanwhile, Iran launched a fresh missile attack targeting central Israel and US military installations in Bahrain early Wednesday morning. The strikes come after a wave of Iranian missile and drone attacks late Tuesday night on US bases in Qatar, Kurdistan, the UAE and Bahrain.
Also Read: Trump downplayed concerns about oil supply disruption; underestimated Iran’s response: Report
West Asia crisis: Check out the latest updates on BusinessToday.In
Reliance Industries Limited (RIL) said in a media statement that it is taking proactive measures to ramp up LPG production from its refining and petrochemicals complexes in Gujarat's Jamnagar. The oil-to-telecom bellwether said that its team are working around the clock to optimise refinery ops to increase LPG output to stabilise supplies across the domestic market.
The company also said that natural gas produced from the KG-D6 basin would be diverted to priority sectors in keeping with the government guidelines. It added that it is working closely with the Centre to ensure energy supplies reach these sectors.
The global energy market is on high alert this morning as the world’s largest liquefied natural gas (LNG) export plant hits a staggering milestone—and not the good kind.
For the fifth consecutive day, no shipments have left Qatar’s massive Ras Laffan facility, according to a Bloomberg analysis of Kpler ship-tracking data. This confirms that no loaded tankers have departed the world's largest LNG export plant in 120 hours.
The hospitality sector is sounding the alarm over a critical shortage of commercial LPG cylinders, warning that irregular supply chains could soon bring hotel and restaurant operations across the country to a standstill.
KB Kachru, President of the Hotel Association of India (HAI) and Chairman of South Asia for Radisson Hotel Group, highlighted the severity of the situation today. He noted that because professional kitchens rely almost exclusively on LPG, any dip in supply or hike in prices poses a direct threat to business continuity.
Small and medium-sized hotels are at the highest risk, with many facing potential temporary closures if the supply chain isn't stabilised immediately.
Kachru has formally urged the government to classify the hospitality sector as an essential service to prioritise fuel delivery. In a positive turn, the industry has welcomed the government’s move to establish a 24/7 control room dedicated to monitoring fuel supplies.
Full-service carrier Air India and its low-cost arm Air India Express will together operate 58 scheduled and non-scheduled flights to and from West Asia on Wednesday, even as airlines adjust operations due to the ongoing conflict involving the US, Israel and Iran.
The carriers said they will continue their scheduled services to Jeddah and Muscat on March 11.
According to a statement issued by Air India on Tuesday, the airline will operate eight flights to and from Jeddah, while Air India Express will run 14 scheduled flights to and from Muscat.
Air India will operate one round-trip each from Delhi and Mumbai to Jeddah. Air India Express will run one round-trip each from Hyderabad and Kozhikode to Jeddah on Wednesday.
The budget carrier will also continue its scheduled Muscat services, including one round-trip each from Delhi, Mumbai, Kannur, Thiruvananthapuram and Tiruchirappalli, along with two round-trips from Kochi.
Apart from the scheduled operations, Air India and Air India Express will operate 36 ad-hoc non-scheduled flights to and from the UAE, subject to slot availability and other prevailing conditions at the departure points.
“These flights are being operated with the requisite permissions from the relevant Indian and local regulatory authorities,” the statement said.
-- PTI
"There is absolutely no shortage of fuel. More details are being worked out. A serious war is going on... In this situation, there will be concerns that will be made known to everybody from time to time by the relevant departments... They are monitoring the situation very closely," Goyal was quoted as saying by ANI.
