Black flag protests in Tamil Nadu against PM's Madurai visit

Mumbai, Jan 10: India’s oil demand growth is set to overtake China by mid-2020s, priming the country for more refinery investment but making it more vulnerable to supply disruption in the Middle East, the International Energy Agency (IEA) said on Friday.

India’s oil demand is expected to reach 6 million barrels per day (bpd) by 2024 from 4.4 million bpd in 2017, but its domestic production is expected to rise only marginally, making the country more reliant on crude imports and more vulnerable to supply disruption in the Middle East, the agency said.

China’s demand growth is likely to be slightly lower than that of India by the mid-2020s, as per IEA’s China estimates given in November, but the gap would slowly become bigger thereafter.

“Indian economy is and will become even more exposed to risks of supply disruptions, geopolitical uncertainties and the volatility of oil prices,” the IEA said in a report on India’s energy policies.

Brent crude prices topped USD 70 a barrel on rising geopolitical tensions in the Middle East, putting pressure on emerging markets such as India. Like the rest of Asia, India is highly dependent on Middle East oil supplies with Iraq being its largest crude supplier.

India, which ranks No 3 in terms of global oil consumption after China and the United States, ships in over 80 per cent of its oil needs, of which 65 per cent is from the Middle East through the Strait of Hormuz, the IEA said.

The IEA, which coordinates release of strategic petroleum reserves (SPR) among developed countries in times of emergency, said it is important for India to expand its reserves.

REFINERY INVESTMENTS

India is the world’s fourth largest oil refiner and a net exporter of refined fuel, mainly gasoline and diesel.

India has drawn plans to lift its refining capacity to about 8 million bpd by 2025 from the current about 5 million bpd.

The IEA, however, forecasts India’s refining capacity to rise to 5.7 million bpd by 2024.

This would make “India a very attractive market for refinery investment,” IEA said.

Drawn to India’s higher fuel demand potential, global oil majors like Saudi Aramco, BP, Abu Dhabi National Oil Co and Total are looking at investing in India’s oil sector.

Saudi Aramco and ADNOC aim to own a 50 per cent stake in a planned 1.2-million bpd refinery in western Maharashtra state, for which land is yet to be acquired.

Kochi, Feb 9: P Parameswaran, one of the senior-most "pracharaks" of the Rashtriya Swayamsevak Sangh (RSS) and former leader of the erstwhile Bharatiya Jana Sangh, died at 91 in the early hours today, Sangh Parivar sources said.

The founder director of the Bharatheeya Vichara Kendram died at 12.10 am while undergoing Ayurvedic treatment at Ottappalam in Kerala's Palakkad district, according to sources.

P Parameswaran, who had worked with leaders like Deendayal Upadhyaya, Atal Bihari Vajpayee and LK Advani during the Jana Sangh days, was honoured with Padma Vibhushan, the country's second highest civilian award in 2018 and Padma Shri in 2004.

Fondly called as Parameswar ji by Sangh Parivar and Bharatiya Janata Party leaders, he was a prolific writer, poet, researcher and a widely-respected RSS ideologue. He was the Bharatiya Jana Sangh's secretary (1967-1971) and vice0president (1971-1977), as well as the director of the Deendayal Research Institute (1977-1982) in New Delhi.

Born in 1927 in Muhamma, Alappuzha district, he joined the RSS during his student days.

His body will be brought to the RSS headquarters in Kochi this morning for people to pay their last respects. The cremation will be held in Muhamma in the evening, sources said.

During the days of Emergency between 1975-77, he courted arrest as part of the all India Satyagraha against it and was jailed for 16 months.

Bharatheeya Vichara Kendram was established by P Parameswaran in 1982 "to promote nationalist thoughts among Keralites".

Patna, Jan 25: JD Women's College in Patna has issued a direction to the students to follow the prescribed dress code on the campus while stating that wearing a 'burqa' in college is prohibited.

"All students have to come to college in the prescribed dress code, every day except on Saturday. Students are prohibited from wearing 'burqa' in college", reads a notice signed by the Principal and Proctor of the college.

The college administration has also imposed a fine of Rs. 250 for violation of the norm.