A large cargo ship, named Pyxis Pioneer, carrying LPG from Texas in the US has arrived at Mangalore Port on Sunday.
The development comes amid concerns of gas shortage, with the government allowing another 20% allocation of commercial LPG to states for priority sectors on Saturday, increasing total allocation to 50%.
Before the ship from the US, Aqua Titan, a vessel carrying Russian crude oil, reached Mangalore, NDTV reported on Saturday.
Due to the size of Aqua Titan and the quantity of the oil, the vessel was not docked at the Mangalore port. It was stationed about 18 nautical miles away from the port.
The single-point mooring system will be used to transfer the oil to the pipeline system and take it to MRPL.
The Russian crude oil arrived after the United States issued a temporary general license on Thursday permitting the sale of Russian crude oil already stranded at sea as of March 12, with the aim to stabilise global fuel prices amid the tensions in the Middle East. The US replaced its earlier 30-day waiver with a new one, but the permission still excludes transactions linked to North Korea, Cuba, and Crimea.
In a statement on the official handle X, US Treasury Secretary Scott Bessent said that measures have been taken to enable oil to flow into the global market amid the crisis in the Middle East. “This deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorises transactions involving oil already stranded at sea," Bessent said.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.