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You are here: Home / Archives for News & Politics

US Doesn’t Need Middle-East Oil, Trump Assures After Saudi Aramco Attacks

September 17, 2019 by Nasheman

The technology-driven U.S. drilling boom that started more than a decade ago has made the United States a massive producer, but imports of crude oil and petroleum products from the Gulf region last year still flowed in abundantly.

US Doesn't Need Middle-East Oil, Trump Assures After Saudi Aramco Attacks

WASHINGTON [USA]

Donald Trump said become such a big producer it no longer needed oil from the Middle East.
 

Amid a flurry of Twitter posts on Monday morning, U.S. President Donald Trump turned to the weekend attack on Saudi Arabia’s oil facilities and assured his audience the United States had become such a big producer it no longer needed oil from the Middle East.

U.S. government data tells a different story: The technology-driven U.S. drilling boom that started more than a decade ago has made the United States a massive producer, but imports of crude oil and petroleum products from the Gulf region last year still flowed in abundantly.

“By and large, we are still importing quite a bit and not totally immune to the world market,” Jean-Francois Seznec, a senior fellow with the Atlantic Council Global Energy Center, said during a call with reporters on Monday.

Iran has rejected U.S. charges it was to blame for the attacks, which damaged the world’s biggest crude-processing plant in Saudi Arabia and triggered the largest jump in crude prices in decades.

Saudi Arabia is the world’s biggest oil exporter, shipping about 7 million barrels of crude daily around the globe. The United States, produces roughly 12 million barrels per day, but consumes 20 million bpd, meaning it must import the rest.

U.S. ‘locked and loaded’ after Saudi attack

U.S. President Donald Trump said the U.S. is “locked and loaded” after the attack on Saudi oil, and has “reason to believe that we know the culprit.” Meanwhile, analysts are warning that if the price of oil stays at record highs it could further risk a global recession.

Much of the U.S. shortfall comes from Canada, but some still comes from Saudi Arabia, Iraq and other Gulf nations because several U.S. refineries prefer their oil. As an example, the biggest U.S. refinery – Motiva Enterprises LLC in Port Arthur, Texas – is half-owned by Saudi Arabia’s state energy company, Saudi Aramco, and is set up for Saudi grades.

Other refineries – particularly in California are isolated from big U.S. oil fields and must also rely on cargoes.

The mismatch between what U.S. refiners want and what the United States produces means that in 2018, the United States imported an average of 48 million barrels per month of crude oil and petroleum products from the Gulf region, according to the U.S. Energy Information Administration.

That is down about a third from a decade ago, as domestic oil and gas production soared, but roughly the same level as in 1995 and 1996, according to the data.

Phillip Cornell, another senior fellow with the Atlantic Council, who used to advise Saudi Aramco, called Trump’s tweet “nonsense.”

“He’s a guy who likes hyperbole,” he said.

Sarah Emerson, president of ESAI Energy LLC, said the Saudi production outage, if it is prolonged, could provide an opportunity for U.S. crude oil producers to expand their overseas markets.

Filed Under: World

Illegal Encroachments On Land Worth Rs. 317 Crore Cleared: Noida Authority

September 17, 2019 by Nasheman

The Noida Authority said it has also approached the police with a complaint against people concerned over illegal occupation on the land.

Illegal Encroachments On Land Worth Rs 317 Crore Cleared: Noida Authority

NOIDA

Noida Authority CEO tweeted images of illegal constructions being cleared.
 

Two plots of land in Noida measuring over 20,000 sq metres and valued together at Rs. 317 crore were cleared of encroachment and reclaimed by the Noida Authority, officials said on Monday.

About 18,570 sq metre land in Sector 73’s Sarfabad village valued at Rs. 295 crore had got encroached with 150 shanties, four furniture showrooms and four animal shelters coming up in that area illegally, the officials said.

Another 1,680 sq metre plot worth Rs. 22.80 crore was in Sector 110’s Gejha Tilpatabad where 20 shanties had come up illegally, the Noida Authority said in a statement.

View image on Twitter
View image on Twitter
View image on Twitter

“All the area in these two plots is notified area belonging to the Noida Authority. The encroachment was removed on instructions of Noida Authority CEO Ritu Maheshwari,” it said.

The authority said it has also approached the police with a complaint against people concerned over illegal occupation on the land.

Filed Under: India

Petrol, Diesel Prices Will Rise If Crude Price Stays High: HPCL Chairman

September 17, 2019 by Nasheman

Indian fuel marketing companies fix the price of petrol and diesel at retail outlets based on an average of last 15 days of benchmark price of petrol and diesel in the Middle East.

By  Reuters| Published: 39 minutes ago A continued high crude price is not sustainable, says M K Surana, chairman of HPCL

India’s Hindustan Petroleum Corp Ltd has said that price of petrol and diesel at retail outlets might go up if the price of crude stays at current levels.

“Price of product at fuel outlets might be impacted if crude price continues to go up by 10%,” M K Surana, chairman of HPCL told Reuters on Monday.

Indian fuel marketing companies fix the price of petrol and diesel at retail outlets based on an average of last 15 days of benchmark price of petrol and diesel in the Middle East.0Comments

Surana, however said, that a continued high crude price is not sustainable.

Filed Under: India

Oil is on the boil, retail fuel prices may jump by Rs 4

September 17, 2019 by Nasheman

Indian oil refiners may have to increase retail fuel prices Rs 5-6 per litre over the next fortnight if crude oil price rises by $10 a barrel

NEW DELHI: Saturday’s drone attack on Saudi Arabia’s largest crude oil processing facility may see petrol and diesel prices shoot up to Rs 4 per litre over the next fortnight. However, the overall impact on Indian interests is likely to be muted unless the disruption lasts for longer than three months. Kotak Institutional Securities analysts say Indian oil refiners may have to increase retail fuel prices Rs 5-6 per litre over the next fortnight if crude oil price rises by $10 a barrel. 

While crude prices have moderated after opening a whopping 20 per cent higher on Monday, Brent crude is still trading 10 per cent higher ($66.25 per barrel) than pre-attack levels.  However, an extended delay in restoring the 5.7 million barrels a day shortfall could see crude prices shoot up to $75-80 per barrel, warns Goldman Sachs and S&P Global Platts, especially since tensions in the region could escalate.

“A geopolitical risk premium will return to the oil price,” said Alan Gelder, V-P, Wood Mackenzie. This could disturb India’s fiscal math, with every $1 increase in crude oil prices adding $2 billion to its import expenditure. 

India’s oil import bill during FY19 was $111.9 billion, compared to just $87.8 billion the previous year.
“Depending on how long (the crude price rise) persists, it will have some impact on the current account deficit and further perhaps on the fiscal deficit if it lasts longer,” RBI Governor Shaktikanta Das said in a TV interview on Monday.

But, industry representatives and oil ministry officials both downplayed the impact. “Saudi Aramco officials informed Indian refiners that there would be no shortage of supplies to them,” an oil ministry spokesperson said. Indian refiners say they have enough stock to tide over short-term supply disruptions. 

“Refiners generally keep a 3-month stock of inventory precisely for these kinds of disruptions,” said Gaurav Moda, energy lead, Accenture India.  According to Moda of Accenture India, the impact in terms of available crude volumes for Indian refiners is minimal, since the attacked facility processed heavy crude into light crude.

“Most Indian refiners can process both and actually prefer heavy crude because it enables them to derive more petrochemical products,” Moda noted. According to industry sources, Saudi oil officials have already begun talks with Indian importers to tweak the mix of heavy and light crude supply in favour of the former. 

“Even retail petrol and diesel prices, which are linked to international benchmarks, should not see a sharp rise in a purely market-driven scenario, since refiners will make up for the impact by making more from petrochemicals,” Moda observed.

Filed Under: India

27 Rescued In Andhra Boat Capsize, NDRF, Navy Divers Assist Search Op

September 16, 2019 by Nasheman

Andhra Pradesh boat tragedy: Most of those on the boat were from Telangana. Officials said 22 of the tourists were from Hyderabad and 14 from Warangal.

27 Rescued In Andhra Boat Capsize, NDRF, Navy Divers Assist Search Op

HYDERABAD

The accident took place around 1:20 pm near Kacchuluru village in Devipatnam Mandal.

A day after a boat carrying 73 people capsized in Godavari River in Andhra Pradesh, killing 12 onboard, rescue officials — who managed to rescue 27 people yesterday — resumed operation early this morning to locate the remaining people. At least 30 people are still missing in the boat tragedy which took place near Kacchuluru village, about 200 km from Amravati. The search operation to locate them was called off late Sunday because of low-light conditions.

Two helicopters and eight boats with deep divers from the Indian Navy began search operation at 5:45 am today. They are being assisted by a team of the National Disaster Response Force (NDRF). A specialized deep divers team with “Side Scan Sonar” equipment from Uttarakhand will join the search operation later in the day.

The tourist boat “Royal Vasishta” had started off for the picturesque Papikondalu hill range, a prime tourist destination, from Gandi Pochamma Temple near Devipatnam.

The accident took place around 1:20 pm near Kacchuluru village in Devipatnam Mandal, about 200 km from Amravati. 

Though life jackets were available on the boat, many passengers were not wearing life jackets. The driver it appeared was not familiar with the dangers of Kachchluru  area where the accident took place as he was not a local, officials said. The crew appeared untrained in dealing with the emergency.

Chief Minister YS Jaganmohan Reddy has undertaken an aerial survey of the area and will also visit the injured in the hospital. He has announced a compensation of Rs. 10 lakh to family of those killed in the tragedy.

Most of those on the boat were from Telangana. Officials said 22 of the tourists were from Hyderabad and 14 from Warangal.

Jana Sena party leader Pawan Kalyan has blamed the government for failing to issue instructions not to allow any tourist boats in the Godavari River, which has swelled in the past few days with over 5 lakh cusecs of floodwater flowing on Sunday afternoon when the incident took place.

Others criticised the driver for taking that route. State tourism minister Muthamsetty Srinivasa Rao said the capsized boat did not have necessary permissions. The boat owners, however, claim that they had all requisite permissions. They also added that the boat was not overcrowded and all the people were provided with life jackets.

Eyewitnesses said though there were life jackets available, some of them took it off as it was very hot.

People who managed to wear a life jacket were able to save themselves, they said.

A woman from Tirupati said she survived as her husband had passed on a life jacket to her when the danger struck. However, her husband and her 12-year-old daughter has been missing since.

” What is the point of my living without the two of them,” she cried.COMMENT

Officials said that the boat may have sunk to a depth of at least 300 feet and some bodies may be stuck inside.

Filed Under: India

Not A Single Bullet Fired In J&K Since August, Centre Tells Top Court

September 16, 2019 by Nasheman

Live Updates: Not A Single Bullet Fired In J&K Since August, Centre Tells Top Court

Top court allowed CPI-M leader Mohd Yusuf Tarigami to go back to his home state J&K

The Supreme Court this morning asked the Centre to restore normal life in Jammu and Kashmir as soon as possible. “Every move should be made keeping in mind national interest,” said the top court. The bench, which included Chief Justice Ranjan Gogoi, justices SA Bobde and SA Nazeer, said as the shutdown was in the Kashmir Valley, it could be dealt with by the Jammu and Kasmir High Court.

The court also sought a response from the Centre and the Jammu and Kashmir government on a plea seeking to produce before the top court former chief minister Farooq Abdullah, who is under detention since last month when the Centre scrapped special status from the state and divided it into two union territories. The top court also allowed CPI(M) leader Mohd Yousuf Tarigami to go back to his home state Jammu and Kashmir.

Filed Under: India

BJP’s Chinmayanand, accused of rape by student, questioned by SIT

September 13, 2019 by Nasheman

BJP's Chinmayanand, accused of rape by student, questioned by SIT

Shahjahanpur : BJP leader and former Union minister Swami Chinmayanand has been quizzed by the SIT for around seven hours in connection with a law student’s allegation that he raped her, his counsel said on Friday.

The special investigation team, formed on the orders of the Supreme Court, summoned Chinmayanad to the police lines on Thursday night, his counsel Om Singh said.

Later, he was brought back to his residence Divya Dham in Mumukshu Ashram under heavy security, he said.

The SIT team also inspected the bedroom of the BJP leader at the ashram but since it was very late they sealed the room. They are expected to continue their inspection on Friday, he said.

The postgraduate student has alleged that she was raped and “physically exploited” for a year by the BJP leader, whose organisation runs several colleges.

In a letter on the SIT on Wednesday, the woman had alleged that some vital evidence was removed from her hostel room by Chinmayanand’s supporters before it was sealed by the police.

Filed Under: India

Truck slapped penalty of over Rs 2 lakh for MV Act violations in Delhi

September 13, 2019 by Nasheman

Truck slapped penalty of over Rs 2 lakh for MV Act violations in Delhi

 The driver and the owner of a truck were slapped a total fine of over Rs 2 lakh in the national capital, perhaps the highest in the country so far, for various offences under the tweaked Motor Vehicles Act, including overloading and driving without a proper licence, a Delhi Transport Department official said on Thursday.

The truck, having a Haryana registration number, was challaned by an enforcement team of Transport Department on the GT Karnal Road on Wednesday evening, the official said.

Since the implementation of the amended MV Act on September 1, this is the highest amount of fine imposed for violation of norms in Delhi. Earlier, a truck from Rajasthan was challaned with a fine of Rs 1.41 lakh for overloading and other offences.

The enforcement team challaned the truck for a total amount of Rs 2,00,500 for various offences. These included not having a driving licence, pollution under test (PUC) certificate, registration certificate, fitness test, insurance, permit violation and not wearing seat belt, the official said.

The truck was slapped a penalty of Rs 20,000 for overloading, with an additional fine of Rs 36,000 for carrying 18 tonnes above the permissible limit. Each extra tonne of overloading carries a fine of Rs 2,000 under the amended Act, he added.

The total amount of penalty included Rs 1,31,000 for violation of traffic norms and Rs 69,500 on the truck owner. The penalty was paid at the Rohini court on Thursday, the official said.

Filed Under: India

PM, says “puri film toh abhi baaki hai”Govt’s achievements in 1st 100 days just a ‘trailer

September 13, 2019 by Nasheman

Govt's achievements in 1st 100 days just a 'trailer':PM, says “puri film toh abhi baaki hai”

Ranchi: Prime Minister Narendra Modi on Thursday said development and the fight against corruption and terrorism during the first 100 days of the NDA 2.0 government was just a “trailer” of a fast-paced film, adding “puri film toh abhi baaki hai”, suggesting more concrete steps are on the anvil.

Modi also took a dig at former Union Finance Minister P Chidambaram, saying some people facing allegations of corruption have already been put in their “rightful place”, a reference to him being sent to jail early this month.

The prime minister was speaking in Ranchi in poll-bound Jharkhand after launching a slew of measures including ambitious pension schemes for farmers, shopkeepers and self-employed persons. He also inaugurated a new building complex for the state Assembly and a multi-modal cargo terminal, which is expected to ease transportation in the mine-rich region.

“Those who thought they are above law and above courts of the country are now approaching courts praying bail; some people have already gone inside (jail) which is their rightful place.

“Development is our pledge and commitment; never has the country seen such acceleration in development,” Modi told a public meeting at Prabhat Tara maidan now renamed as Jagannath maidan here. Chidambaram is lodged in Tihar jail in Delhi after the senior Congress leader was sent to two-week judicial custody by a court in the INX media corruption case filed by the CBI. The former minister has denied the allegations against him.

“In sabhi mamlo mein, desh ne abhi sarkar ka bas trailer dekha hai, puri film toh abhi baaki hai”. (The country has just seen the ‘trailer’ of the functioning of the government(in 100 days), the entire film still remains to be seen.)

The prime minister also reiterated his commitment to securing the dignity of Muslims, citing the passage of the triple talaq bill in the first session of Parliament during the tenure of Modi 2.0 government.

Talking about the two newly formed Union Territories of Jammu and Kashmir and Ladakh, Modi said, “We aim to bring about development in J&K and Ladakh, the work for which has begun in the first 100 days of NDA 2.0.”

Modi also described the BJP-led National Democratic Alliance (NDA) as kaamdaar’ (work oriented) and damdaar’ (strong).

He referred to how Jharkhand earlier lacked transparency and witnessed scams, but Chief Minister Raghubar Das made efforts to bring transparency in the last nearly five years.

Modi’s words of praise of his party government comes ahead of the state assembly elections in Jharkhand due later this year.

Reeling out figures related to different welfare projects launched by the government, he said 44 lakh people availed benefits under the ‘Ayushman Bharat’ health insurance scheme in the last one year.

The world’s largest health insurance scheme was launched by the prime minister from Jharkhand last year.

More than two crore houses were constructed under Pradhan Mantri Awas Yojana and two crore more houses are under construction in the country, besides constructing 10 crore toilets and giving free LPG connections to eight crore beneficiaries under ‘Ujjwala Yozana’, he said.

About the planned schemes in the state, Modi said Jharkhand will get a new identity through the Multi-Modal Terminal at Sahibganj, which will connect Bangladesh, Nepal and the North-East areas.

The prime minister said that pension schemes for the people working in the unorganized sector, farming and small trading units have been introduced.

The government will spend Rs one lakh every year on the tribal students education, he said.

After its bifurcation from Bihar in 2000, the tribal dominated state of Jharkhand will now have its own well-equipped assembly building to carry out legislative functions.

The three-storey building has been constructed at a cost of Rs 465 crore.

It is dubbed as the first paperless Assembly in the country.

Modi dedicated “Pradhan Mantri Kisan Maan Dhan Yojana” that will help small and marginal farmers by providing a minimum pension of Rs 3,000 per month, on attaining the age of 60 years.

Farmers who are currently between 18 and 40 years of age can apply for the scheme.

The ‘Pradhan Mantri Laghu Vyapari Maan Dhan Yojana’, a pension scheme for shopkeepers and retail traders was also launched.

Another ‘Swarojgar’ pension scheme was also rolled out for self-employed persons.

Under both the schemes, beneficiaries between 18 and 40 years will get Rs 3,000 per month after completing 60 years of age.

The cargo terminal, which was inaugurated online by the prime minister from here, has been built by Inland Waterways Authority of India on River Ganga at Sahibganj.

It has a cargo storing capacity of 30 lakh tonnes per year, a stockyard and parking and berthing space for two vessels.

Modi laid the foundation stones online for 462 Eklavya Model Schools across the country, of which 69 will be established in 13 of Jharkhand’s 24 districts.

The foundation for a new building of Jharkhand Secretariat was also laid by the prime minister.

The new secretariat building in the state capital will come up at an estimated cost of Rs 1,238.92 crore.

Filed Under: India

Sonia Gandhi slams BJP government over economic slowdown, alleges vendetta politics

September 12, 2019 by Nasheman

A party source said that she also recalled the UPA regime’s achievements in dealing with the economic slowdown between 2007 and 2009.

Sonia Gandhi

NEW DELHI: Congress interim President Sonia Gandhi on Thursday attacked the BJP government over economic slowdown and accused it of indulging in vendetta politics.

According to Congress sources, Sonia said this while addressing the meeting of party general secretaries, state in-charges, state unit chiefs and others here on Thursday.

A party source said that she also recalled the UPA regime’s achievements in dealing with the economic slowdown between 2007 and 2009.

“She told party leaders that our government had taken out the economy from the slowdown during economic recession,” the party source said.

She also recalled how during UPA regime the Congress government was able to generate jobs.

The party source said that slamming the government over the economic slowdown, Sonia Gandhi told the party leaders that the government has been unable to save the jobs in several sectors.

He said, “Sonia Gandhi also said that the resilience and resolve of Congress is being tested today. And we need to go to people.”

This is the first meeting of Sonia Gandhi with senior party leaders, a month after she was appointed the party chief.

Her son and former Congress chief Rahul Gandhi stepped down from the top post taking moral responsibility of party’s loss in the Lok Sabha polls.

Filed Under: India

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