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.

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Farooq
 - 
Tuesday, 17 Sep 2019

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

 

 

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News Network
March 30,2020

New Delhi, Mar 30: Prime Minister Narendra Modi on Monday interacted with Indian ambassadors and high commissioners abroad and urged them to remain alert to developments in global efforts against COVID-19 including breakthroughs to help the country's fight against the coronavirus.

External Affairs Minister S Jaishankar and Foreign Secretary Harsh Vardhan Shringla were also present during the interaction through video-conferencing.

"Coming together for India PM interacted with Indian Ambassadors/High Commissioners abroad and urged them to remain alert to developments in global efforts against COVID-19 including breakthroughs to help our national efforts to fight COVID19," External Affairs Ministry spokesperson Raveesh Kumar said in a tweet.

"PM appreciated the efforts of our missions in helping Indians abroad, in particular, students and workers," he added.

The number of positive coronavirus cases in the country stood at 1,071 on Monday. It includes 29 deaths and 99 people, who have been cured of the highly contagious virus.

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News Network
June 22,2020

New Delhi, June 22: Former Prime Minister Manmohan Singh on Monday asked Prime Minister Narendra Modi to be “mindful of the implication of his words” as a controversy raged over his “no intrusion” remark about the violent face-off with Chinese troops in the Galwan Valley.

“The Prime Minister must always be mindful of the implications of his words and declarations on our Nation’s security as also strategic and territorial interests,” Singh said in a statement here as Chinese media welcomed Modi’s ‘no intrusion’  remarks contending that it may lead to a de-escalation of tensions between China and India.

Congress has been maintaining that Modi’s assertions at Friday’s all-party meeting that neither was there any intrusion nor was any Indian post captured ran counter to the statements made by the Indian Army and the External Affairs Ministry.

Singh said the prime minister cannot allow his words to be used by China as a vindication of its position and all organs of the government should work together to tackle this crisis and prevent it from escalating further.

“We remind the Government that disinformation is no substitute for diplomacy or decisive leadership. The truth cannot be suppressed by having pliant allies spout comforting but false statements,” the former prime minister said.

Singh said the prime minister and the government should rise to the occasion to ensure justice for Colonel B Santosh and the army jawans who made the supreme sacrifice and resolutely defended the nation’s territorial integrity.

“To do any less would be a historic betrayal of the people’s faith,” the former prime minister said.

“At this moment, we stand at historic crossroads. Our Government’s decisions and actions will have serious bearings on how the future generations perceive us,” Singh said.

Singh said China was brazenly and illegally seeking to claim parts of Indian territory such as the Galwan Valley and the Pangong Tso Lake by committing multiple incursions between April 2020 till date.  

“We cannot and will not be cowed down by threats and intimidation nor permit a compromise with our territorial integrity,” said Singh. 

The former prime minister said this was a moment where “we must stand together as a nation and be united in our response to this brazen threat.”

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Agencies
February 6,2020

New Delhi, Feb 6: Unemployment rate in the country as per a new survey was 6.1 per cent in 2017-18, the government informed Rajya Sabha on Wednesday.

Minister of State for Labour Santosh Gangwar said the government is conducting a new Periodic Labour Force Survey (PLFS) with new parameters and bigger sample size, and its results cannot be compared with previous surveys in this regard.

"As per the new Periodic Labour Force Survey being conducted by the government, the labour force participation is 36.9 per cent and the rate of unemployment for 2017-18 is 6.1 per cent," he said.

Replying to supplementaries during the Question Hour, the minister said the report of this survey is very different than the surveys conducted in previous years.

This survey is not comparable to previous surveys, he said, adding it was an attempt to provide authentic data with the new survey conducted through the Ministry of Statistics.

"We are focusing on infrastructure development and ease of doing business and India's position in the world has improved. India has improved its position to 63rd rank now in 2019 against 196 in previous years," he said.

"Our government is very conscious of creating employment opportunities and is running such programme which generates employment.

"The way our government is functioning, employment opportunities are being created and the youths are getting jobs also," the minister said.

Gangwar said the government has stopped the previous survey as the sample size was low and an attempt is being made to improve the data by adding various parameters and provide more authentic data.

The minister said it will take time for collection of data as households have to be visited on the ground for authentic data collection in rural areas also.

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