Indian Oil Corp. has bought liquefied petroleum gas from Iran for the first time in almost eight years, according to people familiar with the matter, as the country scrambles to avert a worsening shortage of the vital cooking fuel spurred by the war in the Middle East.
Indian Oil Corp. has bought liquefied petroleum gas from Iran for the first time in almost eight years, according to people familiar with the matter, as the country scrambles to avert a worsening shortage of the vital cooking fuel spurred by the war in the Middle East.
A worker delivers an Indian Oil Corp. Indane brand liquefied petroleum gas (LPG) cylindes to village home in Greater Noida, Uttar Pradesh, India, on Monday, Feb. 22, 2021. Provisions for LPG cooking fuel subsidies, launched in 2016 by the Modi government offering cash rebates for purchasing an LPG connection and a loan for the first canister of the fuel and stove, were halved in the federal budget for the fiscal year ending March 2022 to 124.8 billion rupees ($1.7 billion) from 255 billion rupees a year earlier.
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