UAE to store crude oil in Mangaluru petroleum reserve

February 11, 2016

New Delhi, Feb 11: The United Arab Emirates’ (UAE) Abu Dhabi National Oil Company (ADNOC) will store crude oil in India’s 1.5 million tonnes-Mangalore strategic petroleum reserve using it as a wholesale storage capacity and sell to the Indian refiners whenever needed, oil minister Dharmendra Pradhan said after a meeting with visiting energy minister Suhail Mohammed Al Mazrouei.

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India also informed Al Mazrouei that state-run companies ONGC Videsh Ltd (OVL), Indian Oil Corp. Ltd (IOCL), Bharat Petroleum Corp. Ltd (BPCL), Hindustan Petroleum Corp. Ltd (HPCL) and Oil India Ltd were interested in taking stakes in oil fields that are under production and in securing hydrocarbon exploration permits in the Persian Gulf country.

An oil ministry statement quoted Pradhan as saying Indian companies were also interested in acquiring a stake in Abu Dhabi Company for Onshore Petroleum Operations Ltd. (ADCO), another company held by the UAE through ADNOC. Pradhan also offered New Delhi’s idea of a strategic reserve is primarily to tide over any possible supply disruption due to geopolitical reasons, rather than to build up an inventory of cheap oil, officials privy to the development explained.

Pradhan said that ADNOC was working with the Indian Strategic Petroleum Reserve Ltd (ISPRL) which is building the strategic reserve in Mangalore. “The project is on track and will be concluded soon,” the statement said quoting Pradhan.

ISPRL is also building two other reserves at Visakhapatnam in Andhra Pradesh and at Padur in Karnataka. The three facilities have a total storage capacity of 5 million tonnes of crude, which could meet a few days’ requirement. India imported 189 million tonnes of crude in 2014-15, about 80% of its total requirement. ADNOC will store about half of the capacity in the Mangalore reserve.

Former foreign secretary Kanwal Sibal described the development as a significant breakthrough. “We have been talking to the UAE on this matter for a number of years. It is only after Prime Minister Narendra Modi’s visit (in August) that various aspects of the relationship (including the strategic oil reserve) have begun to move forward. It should be seen as a foreign policy success,” said Sibal.

Pradhan also sought investments from the UAE on the ongoing state-run projects in India such as ONGC Petro Additions Ltd’s petrochemical project at Dahej in Gujarat, and HPCL’s refinery-cum-petrochemical plant in Andhra Pradesh.

The UAE is expected to invest in the newly created National Investment and Infrastructure Fund (NIIF) aimed at increasing infrastructure financing in the country. Discussions on a pact were concluded after India agreed to have a UAE representative on the board of NIIF, a government official said, speaking on condition of anonymity.

In December, the Indian government announced steps to set up NIIF. The government budgeted a contribution of Rs.20,000 crore for the fund in fiscal year 2015-16 while another Rs.20,000 crore is expected to be raised from sovereign wealth funds. It is unclear, at the moment how much the UAE proposes to invest in NIIF.

Finance ministry officials had earlier indicated that the Abu Dhabi Investment Authority, Russian Direct Investment Fund, Singapore’s Government Investment Corporation and Temasek have expressed interest in investing in NIIF. The ministry is currently in search of a chief executive officer, a post for which more than 70 executives from the private sector have applied. A final selection is expected by March end.

The investment pact with the UAE, one among about a dozen, is to be signed during the visit of General Sheikh Mohamed bin Zayed Al Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the armed forces of the UAE, who began his three-day visit to India on Wednesday.

Prime Minister Narendra Modi, during a visit to the UAE in August—the first by an Indian Prime Minister in 34 years— had urged the host nation to invest in India’s infrastructure sector, pointing out that Asia’s third largest economy has the potential to absorb as much as $1 trillion in investments in the sector.

At a briefing on Wednesday, Anil Wadhwa, secretary, East, in the foreign ministry, noted that the UAE has emerged as one of the top sources of foreign direct investment in India since 2000, with cumulative investments of $3.3 billion besides some $5 billion in portfolio investments.

The UAE controls the second largest sovereign wealth fund in the world—around $800 billion—under the Abu Dhabi Investment Authority. “This is an important source of investment for the Indian infrastructure sector,” Wadhwa told reporters.

“During the visit of the Prime Minister, it was also decided to encourage investment institutions in the UAE to raise investments for the infrastructure sector in India with the target of reaching $75 billion. So the UAE has been invited to participate in the NIIF in India,” he said.

According to Indian and UAE diplomats, the two countries are expected to amplify on a joint statement issued during Modi’s visit that referred to security and strategic issues among other subjects.

In the August joint statement in which both countries had noted the upgrading of ties to a “comprehensive strategic partnership,” India and the UAE agreed to regularize a dialogue between their national security advisors, strengthen maritime security in the Arabian Gulf and Indian Ocean region, and reinforce defence ties through regular exercises of naval, air, land and special forces.

They also agreed to “coordinate efforts to counter radicalization and misuse of religion by groups” besides denouncing terrorism. New areas of cooperation identified included defence production, strategic partnership in security and counterterrorism, cooperation in civil nuclear energy and space besides energy, Wadhwa said.

The UAE has plans to send a mission to Mars by 2020, Wadhwa said, adding that India is looking at offering help in launching the mission, given its own capabilities in the area. India launched its own successful Mars Orbiter Mission in 2014. In the area of defence production, India would be looking at exports of hardware produced in India to the investing partner country as well as third countries, Wadhwa said.

Comments

chaithresh
 - 
Saturday, 13 Feb 2016

Our namo narenda modi s doing something good for the development of India...we being Indians shouldn't blame him..we should support him.. no one hs thr capacity or dare like our PM has.. .please always think n thn write...guys. name.. I support narenda modi..Jai hind

Anupama
 - 
Friday, 12 Feb 2016

Modi is a gold/oil digger. In the name of development he is polluting a beautiful city. Lobbying against farmers who provide food for the country due to his selfish motives.

Syed Kazi
 - 
Thursday, 11 Feb 2016

Why cant they store their wealth, money, gold and dollars in our storage tanks and give 2/3 free to us as RENT.....

rikaz
 - 
Thursday, 11 Feb 2016

UAE has been so generous to Indians.....

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Agencies
February 25,2020

New Delhi, Nov 25: According to multiple media reports, at least 11 people were killed and around 150 injured in the large scale violence unleashed by the Sangh Parivar activists to suppress anti-CAA agitation in the capital of India.

Violence was reported from Jaffrabad, Chandbagh, Maujpur, Bhajanpura, Gokulpuri, Khajuri Khas, Kardampuri, Dayalpur and Hauz Rani and prohibitory orders were clamped in several areas of North East Delhi. 

The MHA said the situation was under control and paramilitary forces have been deployed in large numbers in trouble spots. The Gokulpuri tire market was set on fire. The violence has also led to the destruction of several crores worth of property. 

As tension smouldered in the national capital's northeast and the sun set over another restive day, violence cut a swathe through several localities, including Chand Bagh and Bhajanpura, with stones and other missiles hurled and shops set ablaze.

Rioters damaged two fire tenders in Gokulpuri and crowds raising incendiary slogans set on fire fruit carts, rickshaws and anything that came in their way in the epicentre of the trouble Maujpur and other places.

With US President Donald Trump also in the city, Delhi Police ramped up security. It fired teargas shells to disperse the rioters -- armed with stones, rods and even swords and many wearing helmets to protect themselves -- and was assisted by paramilitary personnel.

Streets were littered with mangled remains of vehicles, bricks and burnt tyres, mute testimony to the violence and bloodshed that took on a communal taint on Monday and injured about 180 people, including 48 police personnel.

According to GTB Hospital Medical Superintendent Sunil Kumar, six people were declared brought dead on Tuesday, taking the death toll in 11. At least 35 injured people were also taken to the hospital today.

"Fifty per cent of those injured have sustained bullet injuries," Kumar added.

As the violence continued unabated, police officials said the situation was under control and flag marches were conducted in Bhajanpura, Khajuri Khas and other places.

Union Home Minister Amit Shah convened a meeting with Delhi Lieutenant Governor Anil Baijal, Chief Minister Arvind Kejriwal, Delhi Police chief Amulya Patnaik and others to address the situation.

The meeting resolved that workers of political parties should join hands to restore peace and peace committees should be reactivated in all localities.

In scenes not seen in the national capital for decades, frenzied groups thrashed people on the road and vandalised vehicles.

The media also came under attack.

Akshay, a journalist with JK 24X7 News, received a bullet injury and was in a serious condition in hospital, and two reporters from NDTV were beaten and punched by rioters. Many other journalists were heckled and told to go back.

Schools were shut and fearful residents stayed indoors as restless crowds roamed the streets, seemingly unmindful of prohibitory orders restricting the assembly of more than four people imposed on Monday.

"There is hardly any police presence in the area. Rioters are running around threatening people, vandalising shops. Families need to be evacuated. We are unsafe in our own homes," said a resident of Maujpur, requesting anonymity.

Another added that this is the first time in 35 years -- possibly since the 1984 anti-Sikh riots -- that he has seen a situation such as this. "The area had always remained peaceful," he told PTI.

Trouble continued through the day.

Around 5 pm in Chand Bagh, for instance, security personnel were pelted with stones. They chased the mob, only to be attacked afresh with some people also armed with petrol bombs.

A few residents in Yamuna Vihar and Jaffrabad told PTI they had seen rioters with swords in their hands.

The 11 killed include Delhi Police head constable Ratan Lal. While Lal died of gunshot wounds, it is still not yet clear what killed the others or who they all were.

Among those killed was Vinod Kumar, a resident of Ghonda who was brought dead to the hospital and whose body is at the morgue of the Jag Parvesh Hospital.

Also killed was Mohammad Furkan from Kardampuri, near Jafrabad, who got married in 2014 and has two children. His brother, Mohammed Imran, overcome with grief, said they were both in the handicrafts business.

"He had gone to get some food for his children. Someone told me he had been shot. I couldn't believe it as I had met him barely an hour earlier. I kept calling him... I then rushed to GTB Hospital where I was told that he is dead," he told reporters, sobbing inconsolably outside the hospital.

Imran blamed BJP leader Kapil Mishra's tweet, giving Delhi Police an ultimatum to clear the streets of protesters and saying people would be quiet only until Trump is in India.

"Before that everything was peaceful," he said.

One person seen brandishing a gun before police on Monday was identified as Shah Rukh and been arrested yet. Police said 11 FIRs have been filed.

Kejriwal, who held a meeting with senior officials and MLAs of all parties to discuss the situation, asked people to refrain from violence and said all issues can be dealt with through dialogue.

"Stop this madness," he said after visiting the injured in GTB Hospital.

"I have met the people who were injured, also met some people who sustained bullet injuries. The biggest concern is to stop the violence. I appeal to everyone to stop the violence," he said.

Five stations on the Delhi Metro's Pink Line were closed for the second consecutive day on Tuesday in the wake of the trouble.

Deputy Commissioner of Police (Shahdara) Amit Sharma underwent an operation on Monday night for the head injury sustained during the clashes.

Comments

Angry Indian
 - 
Wednesday, 26 Feb 2020

pakistan is very very happy to see this because we indian MARONS fighting each other as a HINDu & MUSLIM destroying our country with our own hand..

great india..jai hind

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News Network
August 3,2020

Bengaluru, Aug 3: A building of Bengaluru's civic body, Bruhat Bengaluru Mahanagara Palike (BBMP), on Broadway Road in Shivajinagar, is being developed into a COVID dedicated hospital with 200 beds, Karnataka Medical Education Minister K Sudhakar said on Sunday.

The hospital will be functional in two weeks, said Sudhakar.

"BBMP building in Broadway Road is converted into Covid hospital. Setting up of infrastructure like beds, ventilators, oxygen etc is underway.

All necessary staff for this hospital including doctors, nurses and paramedical staff have been already deployed and the work is on fast track," Sudhakar tweeted.

He also thanked Infosys foundation and it's Chairperson Sudha Murthy for immediately responding to government's request and providing infrastructure for this hospital.

In a tweet, Sudhakar thanked the doctors for their service to combat COVID-19 in the state.
"These doctors have extended helping hand in these corona times without any expectations. I salute their spirit of service and professionalism," Minister said in a tweet.

According to the Union Health Ministry, there are 1,34,819 COVID-19 cases in the state. 

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News Network
March 8,2020

Bengaluru, Mar 8: Lieutenant General Milind Hemant Thakur, Director-General of Supply and Transport Corps of the Indian Army, unveiled the renovated Animal Memorial at Agram Grounds in ASC Centre and College here on Saturday.

The animal memorial signifies the contributions of mules and horses of the Indian Army. These animals belonging to the Army Service Corps, who have rendered their services relentlessly during the war in the Himalayas, often paying the highest price of sacrificing their lives in the line of duty have been chronicled in the Memorial.

To ensure that these hoof prints do not get obliterated, on approval by the Government of India, their saga was brought to life in the form of a sculptured monument in the Equestrian Training Area of the ASC Centre and College.

This animal transport memorial has now been extended by constructing two walls supported by Roman pillars on either side.

These walls highlight the role played by the animals in the Indian Army since the British Raj. It gives details of 637 gallantry awards won by the brave muleteers, 49 battle casualties since independence, 14 gallantry awards to mules since independence and 05 military recognitions bestowed by the Chief of the Army Staff and other Army Commanders on AT units, who have been relied upon heavily to fill an important niche in the logistics networks of the Indian Army.

Gen Thakur also declared that 26 September each year has been nominated as the AT Remembrance Day as it was on this day in 1914, that 9th mule Corps, as part of the Indian Expeditionary Force, landed at Marseilles in France, to a most hearty and enthusiastic welcome by the French to support the British and allied armies in World War One.

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