Store our oil and take 2/3rd for free: UAE’s offer to India

February 11, 2016

New Delhi, Feb 11: In a first of its kind deal, UAE’s national oil company Adnoc has agreed to store crude oil in India’s maiden strategic storage, and give two-third of the oil to it for free.

UAE

India, which is 79% dependent on imports to meet its crude oil needs, is building underground storages at Visakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka to store about 5.33 million tonnes of crude oil to guard against global price shocks and supply disruptions.

Abu Dhabi National Oil Company (Adnoc) is keen on taking half of the 1.5 million tonnes Mangalore facility, oil minister Dharmendra Pradhan said on Wednesday.

It will stock 0.75 million tonnes, or 6 million barrels, of oil in one compartment of Mangalore facility. Of this, 0.5 million tonnes will belong to India and it can use it in emergencies. Adnoc will use the facility as a warehouse for trading its oil.

The 1.33 million tonnes Visakhapatnam storage, and 2.5 million tonnes Padur stockpile together with 1.5 million tonnes Mangalore storage will be enough to meet nation’s oil requirement of about 10 days.

After talks with visiting UAE minister for energy Suhail Mohammed Al Mazrouei, Pradhan said tax issue remains to be sorted out before Adnoc can begin storing oil at Mangalore.

Congress-ruled Karnataka government has not yet agreed on waiving VAT on the crude oil imported for the strategic storage, which UAE wants to use to stock oil when prices are low and supply to its customers when rates are good.

“This will be beginning of our strategic ties,” he said, adding that Prime Minister Narendra Modi’s visit to UAE in August last year, the first by an Indian Prime Minister in 38 years, laid the foundation of closer cooperation.

The UAE had then committed to invest $75 billion in India, and Pradhan on Wednesday showcased to Mazrouei opportunities for that investment.

“We have offered them refinery projects, petrochemical plans, pipelines and LNG terminals for investment,” he said.

On offer was 26% stake for $700 million in ONGC’s about-to-be-commissioned petrochemical project at Dahej in Gujarat, and 24% equity for $200 million in expansion being planned by BPCL of its subsidiary Bina refinery in Madhya Pradesh from 6 million tonnes to 7.5 million tonnes.

Also, an investment of $530-850 million can get the UAE 25-40% stake in HPCL’s planned petrocehmical plant on the Andhra coast, he said, adding that the Gulf national can also invest in the planned 60 million tonnes in Maharashtra and the Jagdishpur-Haldia and Paradip-Surat gas pipelines.

“UEA makes up for 8% of our oil imports. We are trying to import more oil from UAE. In 2016-17, we plan to import 2.5 million tonnes more oil than current year’s purchase of 16.11 million tonnes,” he said.

Besides Adnoc, Kuwait Petroleum Corp (KPC) too has evinced interest in hiring a part of the maiden strategic storage.

Comments

shamshuddin mohammed
 - 
Thursday, 11 Feb 2016

Dear mangaloreans Tear your passport now and say Goodbye to Gulf Countries, Now you have become Oil Rich Mangaloreans Hats off........... smile please.....

mohammad.n
 - 
Thursday, 11 Feb 2016

Dubai petrol in India, American nuclear in India. What next? Can we get some safe place to live peacefully ???!!!!

AK
 - 
Thursday, 11 Feb 2016

The Hindus are Fooled to fight the muslims but the leaders are just hugging the muslims to worldly gain.. What a POLITICS ! the hindus are FOOLED by cheddis and they are hugging each other.
Dear sharan pumpwell.. please U may need arab support later when u will exhaust from communal riots.. People will fed up and may throw u out of the country to arab lands.. So avoid creating COMMUNAL riots.

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Agencies
January 20,2020

New Delhi, Jan 20: The BJP has got a brand new President in the form of JP Nadda. At around 2.30 pm, the announcement was made, bringing an end to the Amit Shah era in BJP. The party's Working President Jagat Prakash Nadda won unopposed, sparking celebrations outside the BJP headquarters here on Monday. 

Amit Shah himself was among the people who proposed Nadda's name along with Nitin Gadkari and Rajnath Singh. Soon after his annointment, BJP election returning officer Radha Mohan Singh told the media, "I announce JP Nadda as the new BJP President." Shah was also seen hugging Nadda.

The nomination process for the post of the BJP President began at 10 am and went on till 12.30 pm. For the next hour, the filed nomination paper, which was just one, was examined. Party members waitied till 2.30 pm for the candidate to withdraw if he wished to. It was after this that Nadda was declared as the man who would step into the shoes of Amit Shah.

Many in the BJP believe that although Nadda is the BJP chief now, Shah would still make all macro-level decisions like pre poll alliances or top organisational appointments. Nadda would be in charge of monitoring the day-to-day needs of the organisation. BJP sources say that Amit Shah himself wanted an arrangement like this one and personally wanted Nadda to take over. as he helped Shah formulate legislations like Triple Talaq and Citizenship Amendment Act.

The party constitution mandates completion of election of at least 50 per cent of state Presidents for the election of national President to happen. In the last few days, the BJP has completed the election of a slew of state Presidents like in West Bengal, Nagaland among others.

The process of election of the national BJP President is quite elaborate and has been described in detail in the party constitution, which says that the national president shall be elected by an electoral college, comprising members of the national council and the state councils.

"Any 20 members of the electoral college of a state can jointly propose the name of a person, who has been an active member for four terms and has 15 years of membership, for the post of national president. Such joint proposal should come from not less than five states where elections have been completed for the national council. The consent of the candidate is necessary," it says.

Who is JP Nadda?

Jagat Prakash Nadda, 59, who has his roots in the Rashtriya Swayamsevak Sangh (RSS) and its affiliates, was appointed the Bharatiya Janata Party (BJP) national President on Monday, replacing his 'mentor' and Union Home Minister Amit Shah.

Former environment, health and law minister from Himachal Pradesh, which has just four of the Lok Sabha's 543 seats, Nadda has tried to carve out his own space in national politics with his low profile and astute organisational skills, believe his party leaders.

He rose through the ranks from the Akhil Bharatiya Vidyarthi Parishad (ABVP), the student wing of the RSS, from where he has managed to build inroads from university to the state politics.

Nadda has been active on the national political scene since 2010 when he was picked by then BJP chief Nitin Gadkari to join his new team. He was made the party's national general secretary.

Born on December 2, 1960, Nadda did his graduation from Patna and holds a post-graduate degree in political science and Bachelor of Legislative Law (LL.B) from Himachal Pradesh University in Shimla.

Starting his political career as a student leader of the ABVP in 1978, Nadda had also worked both with Gadkari and Shah even in the party's youth wing -- the Bharatiya Yuva Morcha -- from 1991 to 1994.

His wife Mallika Nadda, who teaches history at the Himachal Pradesh University and is currently posted in university's campus in Delhi, was an ABVP activist too, and its national general secretary from 1988 to 1999.

In the previous BJP government (2007-12) in the state, Nadda was forced to resign as Forest Minister in 2010 owing to differences between him and then chief minister Prem Kumar Dhumal.

He was elected to the Rajya Sabha in 2012.

Nadda won his first Assembly election from Bilaspur (Sadar) in Himachal in 1993. In 1998, he again won from that seat and became the state Health Minister.

He lost the Assembly elections in 2003, but again won in 2007 and was appointed the Forest Minister in the Himachal Pradesh.

Nadda, as a forest minister, was the brain behind opening forest police stations to check forest crimes, launching community-driven plantation, setting up forest ponds and the massive plantation of deodars to boost the depleting green cover of the 'Queen of Hills', as Shimla was fondly called by the British.

A close confidant of Prime Minister Narendra Modi, Nadda was among those who were mentioned as likely aspirants to the BJP top post after Rajnath Singh was inducted into the Central government as the Home Minister in 2014.

Later, Nadda was inducted into the union cabinet in its first expansion in 2014 as the Health Minister.

Hailing Nadda's appointment, Chief Minister Jai Ram Thakur told IANS it is a proud moment that a leader belonging to a small state in the national politics is today the leader of the country's biggest national party.

His father N.L. Nadda, who was a Vice-Chancellor of the Ranchi University, resides in Bilaspur town.

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Agencies
January 4,2020

Kota, Jan 4: Following the death of an infant in the morning, the death toll in JK Lon Hospital here has risen to 107, officials said on Saturday.

A three-member state government committee of doctors, who was sent to investigate the matter on December 23 and 24, found that Kota's JK Lone Hospital is short of beds and it requires improvement.

However, the committee gave a clean chit to the doctors for any lapses over the recent death of infants admitted there.

A Central government team reached the hospital on Saturday to take stock of the situation.

As per the government report, at least 91 infants lost their lives at the government hospital in December last year.

Meanwhile, the National Human Rights Commission (NHRC) has issued a notice to Chief Secretary of Rajasthan to submit a detailed report within 4 weeks about the steps being taken to address the issue.

The Commission also asked the Chief Secretary to ensure that such deaths of the children do not recur in future due to lack of infrastructure and health facilities at the hospitals.

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News Network
January 29,2020

Aurangabad, Jan 29: Accusing Prime Minister Narendra Modi and Union Home Minister Amit Shah of creating a conflict between Hindu and Muslim communities in the country, former JNU student leader Kanhaiya Kumar has said the Citizenship (Amendment) Act (CAA) was adding fuel to the fire.

He was speaking at a rally held on Tuesday at Pathri in Parbhani district of Maharashtra against the CAA and the National Register of Citizens (NRC). It was organised by NCP MLC Abdullah Durrani.

"Modi and Shah used to create conflicts between Hindus and Muslims during the Gujarat elections. Now they are adopting the same strategy in the country," Kumar alleged.

Citizens should keep the religious conflicts aside and question the present government about unemployment and the poor state of the economy, he said.

"Through the CAA, the government is adding fuel to the fire, which is already raging in the country," he alleged.

When anyone questions the government about the problems existing in the country, it in turn asks him about his citizenship, the former JNUSU leader alleged.

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