Modi still popular politician in India than Rahul, Kejriwal: Pew Research

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.

New Delhi, Jun 30: With a spike of 18,522 COVID-19 cases in the last 24 hours, India's coronavirus count now stand at 5,66,840, said the Union Health and Family Welfare Ministry on Tuesday.

According to the Ministry, 418 deaths due to COVID-19 were reported in the last 24 hours. The number of deaths in the country now stands at 16,893.

There are 2,15,125 active coronavirus cases in the country while the number of cured/discharged patients stands at 3,34,821 and one patient migrated.

As per the Ministry, Maharashtra is the worst-hit state with regard to the COVID-19 cases and has reported 1,69,883 cases, including 73, 313 active cases 88,960 cured/discharged patients and 7,610 fatalities.

Tamil Nadu has a total of 86,224 cases including 1,141 deaths. Delhi's COVID-19 count stands at 85,161 cases and 2,680 fatalities.

The total number of samples tested up to 29 June is 86,08,654 of which 2,10,292 samples were tested yesterday, informed the Indian Council of Medical Research.

The International Cricket Council (ICC) today confirmed the ICC Men’s T20 World Cup in Australia 2020 has been postponed due to the ongoing COVID-19 pandemic

At today’s meeting of the IBC Board (the commercial subsidiary of the ICC), windows for the next three ICC men’s events were also agreed to bring clarity to the calendar and give the sport the best possible opportunity over the next three years to recover from the disruption caused by COVID-19.

The windows for the Men’s events are:

1. ICC Men’s T20 World Cup 2021 will be held October – November 2021 with the final on 14 November 2021

2. ICC Men’s T20 World Cup 2022 will be held October – November 2022 with the final on 13 November 2022

3. ICC Men’s Cricket World Cup 2023 will be held in India October – November 2023 with the final on 26 November 2023

The IBC Board agreed to continue to monitor the rapidly changing situation and assess all the information available in order to make a considered decision on future hosts to ensure the sport is able to stage safe and successful global events in 2021 and 2022.

The IBC Board will also continue to evaluate the situation in relation to being able to stage the ICC Women’s Cricket World Cup 2021 in New Zealand in February next year. In the meantime, planning for this event continues as scheduled.

The Board will also continue to evaluate the situation in relation to being able to stage the ICC Women’s Cricket World Cup 2021.

ICC Chief Executive Manu Sawhney said: “We have undertaken a comprehensive and complex contingency planning exercise and through this process, our number one priority has been to protect the health and safety of everyone involved in the sport.

“The decision to postpone the ICC Men’s T20 World Cup was taken after careful consideration of all of the options available to us and gives us the best possible opportunity of delivering two safe and successful T20 World Cups for fans around the world.

“Our Members now have the clarity they need around event windows to enable them to reschedule lost bilateral and domestic cricket. Moving the Men’s Cricket World Cup to a later window is a critical element of this and gives us a better chance of maintaining the integrity of the qualification process. This additional time will be used to reschedule games that might be lost because of the pandemic ensuring qualification can be decided on the field of play.

“Throughout this process we have worked closely with our key stakeholders including governments, Members, broadcasters, partners and medical experts to enable us to reach a collective decision for the good of the game and our fans. I would like to thank everyone involved for their commitment to a safe return to cricket.”