Isreael wants India to explore gas, sign trade pact: Envoy

February 24, 2014

Alon_UshpizNoida, Feb 24: Israel has invited Indian companies to take part in extracting natural gas from its newly-found reserves, with 40 percent of the produced hydrocarbon reserved for exports, even as it wants talks on a free trade pact to fructify soon.

Israeli Ambassador to India Alon Ushpiz said his country will soon emerge as one of the biggest producers of natural gas and is willing to export it to India, which imports around 80 percent of its oil needs mostly from the Persian Gulf countries.

"Our plan is to keep 60 percent of the produce for domestic use, while the remaining 40 percent will be exported," Ushpiz said during an interaction , adding: "India, being one of the largest importers, will be the natural target."

The offshore gas reserves in the Mediterranean Sea, which extends from the coasts of Israel, Lebanon and Syria in the east to Cyprus in the west, is estimated to hold 122 trillion cubic feet of natural gas and 1.7 billion barrels of oil - the biggest discovery in 10 years.

"Our plan is to keep 60 percent of the product for domestic use, while the remaining 40 percent will be exported," said Ushpiz, adding that India, being one of the largest importers, will be the natural target market.

A consortium led by Houston-based Noble Energy is developing the Tamar field in the Mediterranean Sea, located nearly 90 km west of Israel's port city of Haifa. Supply of gas from Tamar started in March 2013 for Israel's domestic use.

Another field named Leviathan in the Mediterranean Sea is also being developed by the Noble Energy-led consortium. The production is expected to start by 2017.

Ushpiz said Israel would be happy to see Indian companies' participation in these gas fields. "Any Indian company is free to participate, private or government-run." But he clarified that the country bars any company that has dealings with Iran.

Besides energy, the ambassador said, Israel is keen to enhance cooperation with India in other sectors like information technology, defence, water management and agriculture.

With a view to supporting joint technological ventures, Israel and India recently agreed to set up a $40 million joint fund. Both the countries will contribute $20 million each to the fund over a period of five years.

Ushpiz said Israel is keen to further enhance the corpus of the fund and also encourage private participation in it.

On the ongoing talks for a free trade agreement, Ushpiz said: "It's a very complicated set of negotiations. It has been going on for more than three years now. Unfortunately, so far, we have not been able to conclude the negotiations."

But once the agreement is signed, India-Israel bilateral trade could rise three-fold in three -five years, the ambassador stated at the office.

"The agreement is a strategic game changer to what we can and should do together. The minute we have a free trade agreement, the volume of trade is going to be much bigger. It is going to be larger by two-three fold in three-five years," he said.

"It will also change the composition of trade and remove the focus from the traditional things that we may be doing for the past 10 years to things which we should do together with high technology," the ambassador added.

India-Israel trade stood at $4.44 billion in 2012, down 14.3 percent from the previous year's $5.19 billion due to a slowdown. The balance of trade was in Israel's favour by $573 million, according to data available with India's external affairs ministry.

In the first nine months of 2013, the two-way trade stood at $3.24 billion.

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Agencies
May 17,2020

Mumbai, May 17: Much on expected lines, Maharashtra, on Sunday, extended the coronavirus lockdown till May 31, in order to control the spread of the virus, under the Epidemic Diseases Act, 1897, the state government said in a statement.

On Sunday afternoon, Chief Secretary Ajoy Mehta, in a notification said: "It is further directed that all earlier orders shall be aligned with this order and remain in force up to and inclusive of May 31, 2020. The calibrated phase-wise relaxation or lifting of lockdown orders will be notified in due course."

"Lockdown 3.0 ends today. Lockdown 4.0 will come into effect tomorrow and will be valid till May 31. There will be some relaxations in the fourth phase," he said.

"The green and orange zones will get more relaxations, in terms of starting more services. As of now only essential services are operational, he said.

Maharashtra has recorded 30,706 COVID-19 cases of which 22,479 are active. The death toll is 1135, while 7,088 patients have been discharged after recovery.

In exercise of the powers conferred under Section 2 of the Epidemic Diseases Act, 1898 and the powers, conferred under the Disaster Management Act, 2005, the Chairperson, State Executive Committee, issued direction to extend the lockdown till 31 May 2020 for containment of COVID-19 epidemic in the State and all Departments of Government of Maharashtra shall strictly implement the guidelines issued earlier form time to time, according to the statement.

Over the last two days,  Maharashtra Chief Minister Uddhav Thackeray held a series of meetings with his ministerial colleagues, senior leaders including NCP supremo Sharad Pawar and top officials. 

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News Network
May 12,2020

New Delhi, May 12: Stranded for over 50 days due to the lockdown and suspension of passenger train services, many people in the national capital will finally be able to reach their destinations in different parts of the country after the railways resumed services on Tuesday.

Three special AC trains will leave the New Delhi railway station for Dibrugarh, Bengaluru and Bilaspur.

The train to Dibrugarh in Assam will leave at 4.45 p.m, while the one leaving for Bilaspur in Chhattisgarh and Bengaluru in Karnataka will leave the New Delhi station at 5.30 p.m and 9.15 p.m respectively.

Entry to the station has been facilitated from the Paharganj side for all confirmed ticket holders. No entry for passengers holding such tickets will be permitted from the Ajmeri Gate side, the railways said.

Railway authorities have put barricades outside the station premises and only those with confirmed tickets are being allowed to enter.

All passengers are undergoing thermal screening before entering the station premises. For this purpose, they have also been asked to reach the station 90 minutes prior to the departure of the train.

A senior Railway Police Force officer said every passenger is being subjected to thermal screening. Hand sanitiser machines have also been placed at the entrance and the passengers are being advised to sanitise their hands before entering the station premises.

Syed Yasir, a private retail sector executive, said due to the resumption of services he will now be able to go to Nagpur to be with his family on Eid. 

Surendra, an engineer with a PSU, was on an assignment in Agra when the lockdown was announced. After the Railways decided to resume passenger train services, he came to Delhi in a private vehicle to board the train to Bengaluru.

"I was on an assignment in Agra where I was stuck. I have come from Agra in a private vehicle and now going to board the train to Bengaluru," Surendra, who identified himself with his first name, said.

Five more trains bound for Delhi will leave from Patna, Bengaluru, Howrah, Mumbai and Ahmedabad, the railways said.

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News Network
June 24,2020

New Delhi, Jun 24: A litre of diesel on Wednesday was more expensive than a litre of petrol after the price of the former was hiked by 48 paise on the 18th successive day of fuel price revisions. While petrol price remained unchanged for the first time since June 7, diesel prices maintained upward trajectory to touch new highs.

It is for the first time in Delhi that diesel has become more expensive than petrol. A litre of the fuel now costs ₹79.88 as against ₹79.76 for a litre of petrol, as per a report in news agency ANI.

While surging fuel prices may generate much-needed revenue for governments, it would also have a detrimental impact on household budgets. The spike in diesel prices also has a wider impact on the transport and agricultural sectors which are largely dependent on the fuel.

The widest gap between the prices of the two fuels was on June 18 of 2012 when a litre of petrol was at ₹71.16 in Delhi while diesel was at ₹40.91. On June 28, the gap between the two fuels was 31.17 per litre in Mumbai. Around that time, there was a spurt in sales of diesel passenger vehicles while demand for such vehicles has come down significantly in current times. This has also led many manufacturers to ditch diesel engines completely.

The current trend of fuel price hikes are unlikely to do demand for petrol vehicles much good either.

Daily price revisions of the two fuel had been temporarily halted for 83 days till it was resumed on June 7.

India's demand for fuel doubled in May and has been steadily rising in June with the easing of restrictions. Indian refineries have already scaled up crude processing with Indian Oil Corp, the country's top refiner, looking to operate its plants at about 90% capacity in June.

The rising fuel prices, however, have resulted in political uproar with Congress leading the charge against the central government and accusing it of penalising consumers by imposing high taxes. A demand for including fuel prices under Goods and Services Tax (GST) has also been renewed by many but it is highly unlikely that it would happen. With oil companies looking to cut back on their previous loses and governments - central as well as states - aiming to generate revenue after tumultous weeks of lockdown, fuel price hikes are likely to stay till at least the end of June.

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