Petrol, diesel prices likely shoot up over Rs 5 a litre

Agencies
September 17, 2019

New Delhi, Sept 17: Following the largest ever-disruption of crude production in Saudi Arabia amid drone attacks on its key facilities, prices of petrol and diesel in India may shoot up by ₹5 to 6 a litre in next fortnight, experts said on Monday.

A recent report by Kotak said that in light of the sharp rise in international crude oil prices, Indian oil marketing companies (OMCs) may increase the retail price of diesel and gasoline by ₹5 to 6 per litre in the following fortnight.

Oil prices soared as much as 20 percent to above $71 a barrel as markets reopened after a major attack on Saudi Arabia's oil infrastructure.

The attack immediately erased out 5.7 million barrels."These attacks resulted in production suspension of 5.7 million barrels of crude oil per day," Saudi Aramco said in a statement.

Oil prices, experts said, could spike in the next several days as a result of the attack on Saudi Aramco, the second-largest oil producer in the world.

Meanwhile, US President Donald Trump, in a tweet, said: "Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!"

The drone attacks claimed by Yemen's Houthi rebels set alight two major oil facilities run by Aramco on Saturday, the Kingdom's Interior Ministry said.

The Saudi Press Agency, citing a statement by the Ministry, said that the drones caused the fire at the refinery in the city of Abqaiq in the Kingdom's oil-rich Eastern Province, as well as the blaze at the Khurais oil field, around 150 km from Riyadh.

Comments

Farooq
 - 
Tuesday, 17 Sep 2019

This shows the worlds dependency on Saudi Arabia for Oil...

 

 

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Agencies
February 23,2020

Panaji, Feb 23: A MiG-29K aircraft crashed off Goa during a routine training sortie on Sunday morning, the Indian Navy said in a statement.

"The pilot ejected safely and has been recovered. An enquiry into the incident has been ordered," the statement said.

On November 16, a MiG-29K trainer flight had crashed after a bird hit, soon after it took off the Dabolim International airport, which functions out of the Indian Navy base INS Hansa.

Both pilots had managed to safely eject themselves to safety after both the engines of their jet failed.

According to data tabled in the recent budget session of the Goa Assembly, every ten days, at least one aircraft landing or taking off at Goa's Dabolim international airport faces dangers involving birds or stray dogs near the runway.

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News Network
January 12,2020

Kolkata, Jan 12: Prime Minister Narendra Modi on Sunday announced that Kolkata Port Trust will be renamed as Syama Prasad Mukherjee Port.

Addressing the gathering at the inauguration of 150th anniversary celebrations of Kolkata Port Trust, he said: "I announce the renaming of the Kolkata Port Trust to Dr Shyama Prasad Mukherjee Port. He is a living legend who was a leader for development and fought on the forefront for the idea of One Nation, One Constitution."

"This port represents industrial, spiritual and self-sufficiency aspirations of India. Today, when the port is celebrating its 150th anniversary, it is our responsibility to make it a powerful symbol of New India," Modi said.

The Prime Minister said that the Bharatiya Jana Sangh founder had set the stone for industrialization in India. "Chittaranjan Locomotive Factory, Hindustan Aircraft Factory, Damodar Valley Corporation and several others saw active participation from him," he said.

The Prime Minister also felicitated the two oldest pensioners of the Kolkata Port Trust, Nagina Bhagat and Naresh Chandra Chakraborty.

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Agencies
April 24,2020

New Delhi, Apr 24: Congress leader Rahul Gandhi has termed the government decision to freeze Dearness Allowance of Central government employees for a year as "insensitive and inhuman."

The former Congress President in a tweet said: "Lakhs and crores are being spent on the Bullet Train and New Delhi's Central Vista which should have been suspended, but the government has deducted DA of Central government employees and pensioners... It is insensitive and inhuman."

"The tragic part is that by deducting this amount from January 1, 2020 up to 30th June, 2021 for a period of 1.5 years, the government of India proceeds to deduct almost Rs 38 thousand crore from the income of these middle class government employees and pensioners, who rely completely on the pay and pensions that they receive," said Randeep Surjewala, chief spokesperson of Congress.

There are about 50 lakh such serving government employees and about 62 lakh pensioners.

"Even more tragic and objectionable is the fact that the government of India has not even spared our armed forces. The government has deducted Rs 11 thousand crore of the 15 lakh serving armed forces personnel and nearly 26 lakh military pensioners. What is their fault? They are serving the nation in times of all types of crises," said Surjewala.

The Congress alleged that the government did not spare the savings scheme.

Instead of curbing the wasteful expenditure, the government has been constantly hitting at the income of government employees and the middle class, it added.

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