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Bharat Petroleum sends SMS alerts, denies any fuel shortage in India as US and Israel’s conflict with Iran spreads

 India’s major public-sector company Bharat Petroleum Corporation Limited (BPCL) has assured customers of fuel availability amid social media panic over shortages, while the US-Iran conflict engulfs West Asia.. BPCL’s clarification comes when the union government is trying to contain panic amid the public as the US-Israeli strikes on Iran, which began a week ago, have plunged the West Asian region into a war. (Bloomberg/ Representative). In a message sent to many customers as SMS alerts in both English and Hindi, BPCL said the social media claims of a fuel shortage were “misleading and baseless”.. “Dear Valued Customer, claims of shortage in fuel supply circulating on social media are misleading and baseless. There is adequate availability of fuel in the country. Citizens are assured that there is no need for any concern. Using fuel wisely always helps,” the state-run oil giant said in the message.. BPCL’s clarification comes when the union government is trying to contain panic amid the public as the US-Israeli strikes on Iran, which began a week ago, have plunged the West Asian region into a war. Iran has retaliated by targeting US bases in the region, along with missile and drone strikes aimed at Israel.. Iranian strikes have also hit oil and natural gas infrastructure in Saudi Arabia, the UAE, Kuwait, Iraq and other countries.. The Strait of Hormuz, the route for one-fifth of the world’s oil supply, is effectively closed, which is causing further distress.. Amid rising uncertainty about energy availability, union minister for petroleum and natural gas, Hardeep Singh Puri, on Friday sought to allay public concerns. He stated that there is “no shortage of energy in India” and that there is no reason for consumers to worry amid ongoing geopolitical tensions in West Asia.. “In my regular interaction with members of the fourth estate today, we discussed various aspects of India’s uninterrupted energy imports despite geopolitical challenges. Our priority is to ensure the availability of affordable and sustainable fuel for our citizens, and we are doing it comfortably. There is no shortage of energy in India and there is no cause of worry for our energy consumers,” he said in a post on X.. Government sources cited by ANI described India’s oil, petroleum products, and LPG supplies as in a “very comfortable position”.. Officials highlighted that India has significantly diversified its crude import basket over the past few years.. Since 2022, imports from Russia have risen sharply. In February, around 20 per cent of India’s total crude imports — roughly 1.04 million barrels per day — came from Moscow.. State-run Indian Oil Corporation dismissed social media posts alleging fuel shortages as “baseless”, asserting that stocks are sufficient and distribution networks are functioning normally. The company urged citizens not to panic or crowd fuel stations and to rely on official sources for accurate information.. The source 

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Madhya Pradesh Cong MLA’s election cancelled for failing to declare criminal cases

 The Madhya Pradesh high court said Mukesh Malhotra’s failure to declare criminal cases in his election affidavit amounted to a corrupt practice 

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Restaurants face LPG supply crisis, NRAI warns of ‘catastrophic closures’

 Restaurants across various parts of the country have reported shortage in the supply of commercial cooking gas, with the National Restaurant Association of India (NRAI) on Monday urging the Centre to intervene, saying any disruption to LPG cylinder supply will lead to a “catastrophic closure” of restaurants.. The association pointed out that a March 5 order issued by the Centre directing public sector oil marketing companies to ensure LPG is supplied to domestic consumers, has impacted the deliveries of commercial gas cylinders to restaurants. (Praful Gangurde/Hindustan Times). The development comes amid rising energy costs and supply constraints caused by the ongoing conflict in West Asia.. “The restaurant industry is predominantly dependent on commercial LPG for its operations. Any disruption therein will lead to a catastrophic closure of majority of restaurants,” NRAI, which represents around half a million restaurants across the country, said in a letter to the Union petroleum and natural gas ministry.. The association pointed out that a March 5 order issued by the Centre directing public sector oil marketing companies to ensure LPG is supplied to domestic consumers, has impacted the deliveries of commercial gas cylinders to restaurants.. In Bengaluru, hotel and restaurant operations are likely to be affected from Tuesday, following an abrupt halt in the supply of commercial gas cylinders, the Bangalore Hotels Association (BHA) said on Monday.. “Since the gas supply has stopped, the hotels will be closed from tomorrow,” the BHA said in a release.. Noting that the supply of commercial gas cylinders stopped on Monday, it said, since the hotel industry is an essential service, common people, students, and medical professionals, who rely on the hotels for daily meals, will be affected.. In Gurugram, several restaurants have reported disruption in the supply of commercial LPG cylinders, forcing eateries to consider alternative arrangements such as domestic cylinders or electric cooking equipment.. Rohit Arora, manager of a restaurant in Sector 29, said the establishment currently has enough stock for a few days. “Our vendor informed us that commercial LPG deliveries have been paused temporarily. We have backup cylinders that can last about three days. If the situation continues, we may have to shift to residential cylinders or reduce menu items,” he added.. In Pune, the civic body has temporarily closed the city’s gas crematoriums following restrictions on the use of LPG components such as propane and butane.. The Pune Municipal Corporation cited the Centre’s March 5 order, directing that available propane and butane be prioritised for domestic LPG supply across the country, for its decision to keep its gas crematoriums closed from March 5 until further orders.. LPG cylinder booking period increased from 21 to 25 days. Meanwhile, the minimum waiting period for booking a domestic LPG cylinder refill increased from 21 days to 25 

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Politics

Restaurants face LPG supply crisis, NRAI warns of ‘catastrophic closures’

 Restaurants across various parts of the country have reported shortage in the supply of commercial cooking gas, with the National Restaurant Association of India (NRAI) on Monday urging the Centre to intervene, saying any disruption to LPG cylinder supply will lead to a “catastrophic closure” of restaurants.. The association pointed out that a March 5 order issued by the Centre directing public sector oil marketing companies to ensure LPG is supplied to domestic consumers, has impacted the deliveries of commercial gas cylinders to restaurants. (Praful Gangurde/Hindustan Times). The development comes amid rising energy costs and supply constraints caused by the ongoing conflict in West Asia.. “The restaurant industry is predominantly dependent on commercial LPG for its operations. Any disruption therein will lead to a catastrophic closure of majority of restaurants,” NRAI, which represents around half a million restaurants across the country, said in a letter to the Union petroleum and natural gas ministry.. The association pointed out that a March 5 order issued by the Centre directing public sector oil marketing companies to ensure LPG is supplied to domestic consumers, has impacted the deliveries of commercial gas cylinders to restaurants.. In Bengaluru, hotel and restaurant operations are likely to be affected from Tuesday, following an abrupt halt in the supply of commercial gas cylinders, the Bangalore Hotels Association (BHA) said on Monday.. “Since the gas supply has stopped, the hotels will be closed from tomorrow,” the BHA said in a release.. Noting that the supply of commercial gas cylinders stopped on Monday, it said, since the hotel industry is an essential service, common people, students, and medical professionals, who rely on the hotels for daily meals, will be affected.. In Gurugram, several restaurants have reported disruption in the supply of commercial LPG cylinders, forcing eateries to consider alternative arrangements such as domestic cylinders or electric cooking equipment.. Rohit Arora, manager of a restaurant in Sector 29, said the establishment currently has enough stock for a few days. “Our vendor informed us that commercial LPG deliveries have been paused temporarily. We have backup cylinders that can last about three days. If the situation continues, we may have to shift to residential cylinders or reduce menu items,” he added.. In Pune, the civic body has temporarily closed the city’s gas crematoriums following restrictions on the use of LPG components such as propane and butane.. The Pune Municipal Corporation cited the Centre’s March 5 order, directing that available propane and butane be prioritised for domestic LPG supply across the country, for its decision to keep its gas crematoriums closed from March 5 until further orders.. LPG cylinder booking period increased from 21 to 25 days. Meanwhile, the minimum waiting period for booking a domestic LPG cylinder refill increased from 21 days to 25 

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Sensex, Nifty today LIVE: Shares expected to open higher day after bloodbath as Trump hints war could end soon

 Sensex, Nifty today LIVE updates: Investors are keeping a close watch on the markets after Monday’s, March 9’s, sharp sell-off, with benchmark indices Sensex and Nifty witnessing a steep decline amid rising crude oil prices and escalating tensions in West Asia.. Smoke rises following a strike on the Bapco Oil Refinery, amid the US-Israeli conflict with Iran, on Sitra Island Bahrain, March 9 (REUTERS). Market participants are closely monitoring global cues, oil price movements, foreign fund flows and the rupee’s trajectory against the US dollar to gauge the near-term direction of equities following the heavy losses in the previous session.. Indian shares were expected open higher on Tuesday, March 10, as US President Donald Trump hinted the war in Iran could end soon, easing oil off three-year highs as well as fears of a prolonged supply shock, Reuters reported.. -Stock market crash on March 9: Equity benchmark indices Sensex (BSE) and Nifty (NSE) plunged nearly two per cent on Monday as a sharp rise in crude oil prices and weak global cues, triggered by the deteriorating situation in West Asia, sparked heavy selling in the stock market. The West Asia situation pertains to the ongoing military conflict between Iran-and-allies and US-Israel that broke out after the February 28 strikes by the latter on the Islamic country, that killed its Supreme Leader – Ayatollah Ali Khamenei.. -Sensex on Monday: Market sentiment was further dampened by persistent foreign fund outflows and the rupee’s weakness against the US dollar, traders said. The 30-share BSE Sensex fell 1,352.74 points, or 1.71 per cent, to close at 77,566.16, marking its second straight day of losses, according to data in a PTI news agency report. During intraday trade, the index had fallen as much as 2,494.35 points, or 3.16 per cent, to 76,424.55. On the BSE, 3,379 stocks declined, while 972 advanced and 185 remained unchanged.. -Nifty on Monday: Similarly, the 50-share NSE Nifty dropped 422.40 points, or 1.73 per cent, to finish at 24,028.05. During the session, it had tumbled 752.65 points, or 3.07 per cent, to 23,697.80. Gift Nifty futures were at 24,393.50 at 08:11 am on Tuesday, indicating the the Nifty 50 will open above Monday’s close of 24,028.05.. -Brent crude today: After hitting their highest in more than three years on Monday, Brent futures were down $6.51, or 6.6 per cent, at $92.45 a barrel and US West Texas Intermediate (WTI) down $6.12, or 6.5 per cent, to $88.65 on Tuesday morning. They had surged past $100 a barrel on Monday, touching mid-2022 highs as Saudi Arabia-led supply cuts and the expanding US-Israeli war with Iran raised concerns of major global supply disruptions. 

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Sensex, Nifty today LIVE: Shares expected to open higher day after bloodbath as Trump hints war could end soon

 Sensex, Nifty today LIVE updates: Investors are keeping a close watch on the markets after Monday’s, March 9’s, sharp sell-off, with benchmark indices Sensex and Nifty witnessing a steep decline amid rising crude oil prices and escalating tensions in West Asia.. Smoke rises following a strike on the Bapco Oil Refinery, amid the US-Israeli conflict with Iran, on Sitra Island Bahrain, March 9 (REUTERS). Market participants are closely monitoring global cues, oil price movements, foreign fund flows and the rupee’s trajectory against the US dollar to gauge the near-term direction of equities following the heavy losses in the previous session.. Indian shares were expected open higher on Tuesday, March 10, as US President Donald Trump hinted the war in Iran could end soon, easing oil off three-year highs as well as fears of a prolonged supply shock, Reuters reported.. -Stock market crash on March 9: Equity benchmark indices Sensex (BSE) and Nifty (NSE) plunged nearly two per cent on Monday as a sharp rise in crude oil prices and weak global cues, triggered by the deteriorating situation in West Asia, sparked heavy selling in the stock market. The West Asia situation pertains to the ongoing military conflict between Iran-and-allies and US-Israel that broke out after the February 28 strikes by the latter on the Islamic country, that killed its Supreme Leader – Ayatollah Ali Khamenei.. -Sensex on Monday: Market sentiment was further dampened by persistent foreign fund outflows and the rupee’s weakness against the US dollar, traders said. The 30-share BSE Sensex fell 1,352.74 points, or 1.71 per cent, to close at 77,566.16, marking its second straight day of losses, according to data in a PTI news agency report. During intraday trade, the index had fallen as much as 2,494.35 points, or 3.16 per cent, to 76,424.55. On the BSE, 3,379 stocks declined, while 972 advanced and 185 remained unchanged.. -Nifty on Monday: Similarly, the 50-share NSE Nifty dropped 422.40 points, or 1.73 per cent, to finish at 24,028.05. During the session, it had tumbled 752.65 points, or 3.07 per cent, to 23,697.80. Gift Nifty futures were at 24,393.50 at 08:11 am on Tuesday, indicating the the Nifty 50 will open above Monday’s close of 24,028.05.. -Brent crude today: After hitting their highest in more than three years on Monday, Brent futures were down $6.51, or 6.6 per cent, at $92.45 a barrel and US West Texas Intermediate (WTI) down $6.12, or 6.5 per cent, to $88.65 on Tuesday morning. They had surged past $100 a barrel on Monday, touching mid-2022 highs as Saudi Arabia-led supply cuts and the expanding US-Israeli war with Iran raised concerns of major global supply disruptions. 

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