Adani Total Gas hikes industrial prices amid conflict in West Asia
.webp)
India's Adani Total Gas (ATGL) has sharply raised prices for supplies to industrial clients, citing lower availability of gas due to conflict in the Middle East, according to a customer notice seen by Reuters.
The company is a joint venture of Adani Group and French oil major TotalEnergies SE.
As a result of the attacks on Iran and Tehran's retaliatory strikes, transit through the Strait of Hormuz between Iran and Oman, which carries around one-fifth of oil consumed globally as well as large quantities of liquefied natural gas, has ground to a near-halt after some vessels in the area were hit.
"Due to recent geo-political developments impacting LNG supply routes, ATGL has received upstream gas curtailment, leading to operational constraints," the company said.
It raised prices from Tuesday on gas consumed over and above the 40 per cent daily contract quantity to ₹119 ($1.30) per standard cubic meter, the notice said.
Earlier prices were around ₹40 per standard cubic meter, a source said.
Adani Total Gas did not immediately respond to a Reuters request for comment.
Other Latest News
.webp)
A temporary surge in oil prices to $100 per barrel could slow global growth by 0.4 percentage point, Goldman Sachs analysts said on Thursday, as a widening conflict in Iran chokes off vital Middle East oil and gas flows.
Under its baseline forecast, Goldman expects oil prices to increase a bit further before moderating to $76 per barrel on average in the first quarter of 2026 and $65 in the fourth quarter.
.webp)
Russia on Thursday accused the United States and Israel of trying to drag Arab countries into a wider Middle East conflict by provoking Iran into striking targets across the region and said there was no sign Washington and Tel Aviv would let up.
Arab states in the Gulf, all close US allies - some of which also have close ties with Russia - have come under Iranian drone and missile attacks since the United States and Israel launched their air strikes on Iran on Saturday.
.webp)
SpiceJet will operate 13 special flights from the UAE on Thursday to facilitate the return of passengers stranded due to the Middle East conflict.
"Of the 13 flights, 12 will operate from Fujairah and 1 will operate from Dubai. The airline will operate seven special flights to Mumbai, five special flights to Delhi and one special flight from Dubai to Mumbai," it said in a statement on Thursday.
.webp)
The ongoing war with Iran could cost Israel an estimated NIS 9.4 billion ($3 billion approximately) per week under current restrictions on economic activities, the Israeli Finance Ministry has warned.
"In a letter sent to the Home Front Command chief, Maj. Gen. Shai Klapper, Finance Ministry Director General Ilan Rom asked to ease restrictions to allow for a gradual, partial reopening of businesses and workplaces as early as Thursday," the Times of Israel reported.
.webp)
Iran’s elite Islamic Revolutionary Guard Corps (IRGC) on Wednesday said it was prepared for the “complete destruction of the region’s military and economic infrastructure” if the United States continued its actions in the Middle East, news agency Associated Press (AP) reported.
The statement, broadcast through Iranian state television, is the most direct warning issued by the organisation since the conflict started five days ago.
.webp)
.webp)
.webp)
.webp)
.webp)
