Don’t communalise, says Army after Owaisi reveals religion of martyred soldiers

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.

Bhopal, Mar 4: Madhya Pradesh Chief Minister  Kamal Nath on Tuesday asserted that there was no threat to his government.

Nath's comments came when he was asked about reports of alleged 'poaching' attempts being made by the opposition BJP in the state.

“The legislators are telling me that they are being offered so much money. I am telling the MLAs to take it, if they are getting this free money,” Nath told reporters here on the sidelines of a programme.

Congress veteran Digvijaya Singh on Monday alleged that his party MLAs were being offered “huge money by BJP leaders” as part of the saffron party's “poaching” attempt to destablise the Kamal Nath government.

When Nath was asked about any threat to the stability of his government in Madhya Pradesh, he said, “There is nothing to worry about.”

Reacting to Nath's statement, state BJP spokesman Rajneesh Agrawal told PTI that his party has nothing to do with the allegations.

“In fact, these speculations and allegations are part of the internal bickering of among Congress leaders to get nominated for the Rajya Sabha polls,” he said.

After Digvijaya Singh's remarks on Monday, senior BJP leader and former chief minister Shivraj Singh Chouhan accused the Congress veteran of making false statements to create sensationalism.

“Speaking lies to create sensationalism is Digvijaya's habit. Probably some of his (Digivijaya's) works were not done and he wants to create pressure on the CM to get them done,” Chouhan alleged.

New Delhi, Apr 19: The government on Sunday prohibited the sale of non-essential items through e-commerce platforms during the ongoing lockdown, four days after allowing such companies to sale mobile phones, refrigerators and ready-made garments.

Union Home Secretary Ajay Bhalla issued an order excluding the non-essential items from sale by the e-commerce companies from the consolidated revised guidelines, which listed the exemption given to the services and people from the purview of the lockdown.

The order said the following clause "E-commerce companies. Vehicles used by e-commerce operators will be allowed to ply with necessary permissions" is excluded from the guidelines.

The previous order had said such items were allowed for sale through e-commerce platforms from April 20.

However, the reason for reversing the order is not known immediately.