Overview
The Ministry of Petroleum and Natural Gas (MoPNG) announced that the Nayara Refinery is expected to restart operations by mid‑May after a brief shutdown. Simultaneously, the ministry confirmed that there is no proposal to raise petrol or diesel prices for premium variants after 1 April. The announcement comes against the backdrop of heightened U.S.-Iran tensions, with Iran’s blockade of the Strait of Hormuz disrupting oil shipments worldwide.
Key Developments
- Joint Secretary Sujata Sharma (MoPNG) said the Nayara Refinery will likely resume by mid‑May.
- No increase in petrol or diesel prices for premium grades after 1 April.
- Iran continues to block the Strait of Hormuz, a move that began with the U.S.-Israeli offensive two months ago.
- The White House is reviewing Tehran’s latest proposal to unblock the waterway, while Iran’s Defence Ministry claims the U.S. can no longer dictate policy to independent nations.
Important Facts
- Shutdown period of the refine