I-T raids on close aides of two more Congress MLA candidates

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.

Mangaluru, Apr 23: An astronomical phenomenon, ‘Zero Shadow Day', will be observed in Mangaluru on April 24 and in Udupi on April 25. 

According to a press release from Poornaprajna Amateur Astronomers’ Club, the wonder will commence and people will see their shadows disappear for a few moments at 12:28 pm.

The phenomenon is called as Zero Shadow Day. If a person takes a candle in a dark room and use it to create a shadow of one’s palm on the wall, the hand will cast shadow on the wall as one moves the hand. But when one places the palm on the wall, there will be no shadow.

In the phenomenon, the sun at these times shines exactly above the heads on these days. In astronomy, this point is called as Zenith. The point in the sky directly above an observer at any given location. So it is quite clear now that on Zero Shadow Day, the sun passes through the Zenith as a result of which, all objects will have minimal or no shadow if they are on the ground.

The reason for this happens on some specific days is concerned with astronomy. The earth spins around on its own axis and causes days and nights. It also revolves around the sun causing a year. But the seasons are caused because the axis is tilted at an angle of 23.5 degrees. It is because of this tilt that the sun rises every day in the east gradually moving towards the north till June 21st and then slowly proceeding towards the south till December 21st every year. “We call these days solstice. This means the sun shines between the Tropic of Cancer and Tropic of Capricorn every day passing by the equator on the days we call equinox,” the release stated.

As the earth moves around the sun and revolves on its own axis, for all the people between Tropic of Cancer and Tropic of Capricorn, the Sun at noon moves father and closer to the zenith passing through zenith twice causing two Zero Shadow Days per year. People at Mangaluru will observe this on April 24 and August 18 every year and People in Udupi will observe this on April 25 and August 17 every year.

Places with same latitudes will observe the same days of Zero Shadow but the time would vary with longitude. For example, people of Bengaluru as they share the latitude with Mangaluru will also observe it on April 24. While the people of Mangaluru will observe their shadows disappear at 12.28pm, people of Bengaluru will observe this at 12:17pm. Places like Moodabidri, Bantwal, Sakleshpur and Hassan will also observe Zero Shadow on April 24.

Places like Brahmavar, Karkala, Sringeri, Kudremukha, Chikkamagaluru will observe the Zero Shadow Day on the same day as Udupi on April 25.

Mangaluru, Feb 13: The Customs Officers of Airport Team-II at Mangalore International Airport (MIA) on Thursday intercepted a passenger who attempted to smuggle gold worth Rs 9.39 lakhs.

The team led by Rajesh Poojary nabbed the passenger who attempted to smuggle 233.18 grams of gold strips concealed inside a rechargeable emergency light and solar sensor wall light.

The officials said a passenger named Mohammed Mahir Patla (24) from Kasaragod, who arrived from Dubai yesterday evening by Air India flight number IX384 attempted to smuggle the gold.