Saudi Aramco launches India unit as Modi govt vouches for strategic ties with Kingdom

News Network

October 9, 2017

New Delhi, Oct 9: The world's largest oil exporter, Saudi Aramco, on Sunday officially launched its unit in India with a view to tap opportunities presented by the country's rapidly growing appetite for energy.

Oil minister Dharmendra Pradhan and Aramco CEO Amin Nasser, who is here to attend the India Energy Forum beginning on Monday, jointly inaugurated the company's office in Gurgaon, a move the minister said would take the buyer-supplier relationship between the two countries to a level of "strategic partnership" in the hydrocarbon sector.

Aramco's move to launch a subsidiary in India, Aramco Asia India (AAI), coincides with its ongoing talks for acquiring a stake in the Rs 40,000 crore coastal refinery being planned in Maharashtra by an IndianOil-led consortium of state-run refiner-marketers.

India is particularly important for Aramco as the firm is trawling for refinery stake in major oil-consuming economies to lock in customers ahead of its IPO next year.

Both International Energy Agency and BP Statistical Review of World Energy have projected India's oil consumption growth to be the fastest among all major economies over the next two decades. India has already surpassed Japan as the world's third largest oil consumer and is expected to overtake China.

But Aramco, traditionally India's top oil supplier, has not found the going smooth in such a growing market in the face of challenge from fellow Opec member Iraq.

According to a Reuters report, Iraq remained India's top oil supplier for the fifth month running in August.

Besides, India is also leveraging the oversupplied condition of the global oil market and flexibility of its refineries to tap new sources such as the US.

No wonder, Aramco's talks with Indian state-run refiners are not limited to locking in sale of crude but also encompasses increased LPG supplies and a foothold in petrochemicals and fuel retail businesses.

Saudi Arabia accounts for approximately 19% of India's crude and 29% of LPG imports. During 2016 -17, India imported about 39.5 million tonnes of crude from Saudi Arabia.

Comments

Add new comment

Coastaldigest.com reserves the right to delete or block any comments.
Coastaldigset.com is not responsible for its readers’ comments.
Comments that are abusive, incendiary or irrelevant are strictly prohibited.
Please use a genuine email ID and provide your name to avoid reject.

Darul Uloom Deoband asks Muslims to offer Eid prayers at home

News Network

May 19,2020

Saharanpur (Uttar Pradesh), May 19: Islamic seminary Darul Uloom Deoband has issued a fatwa asking Muslims to offer their Eid prayers this time at home, instead of congregating at mosques.

The directive comes amid a nationwide lockdown to slow down the spread of coronavirus.

Despite the relaxations announced in the lockdown, religious and other large gatherings are still banned.

The fatwa was issued in response to a query put to the seminary, its spokesman Ashraf Usmani said.

The fatwa said the Eid namaz can be offered in the same manner that the Friday prayers are now being read at home.

It said not holding the namaz in the usual manner is pardonable in circumstances such as these.

Comments

Add new comment

Coastaldigest.com reserves the right to delete or block any comments.
Coastaldigset.com is not responsible for its readers’ comments.
Comments that are abusive, incendiary or irrelevant are strictly prohibited.
Please use a genuine email ID and provide your name to avoid reject.

Congress will return to power in Karnataka: says DK Shivakumar

News Network

March 21,2020

Bengaluru , Mar 21: Karnataka Congress President DK Shivakumar exuded confidence that the party will return to power in the state and praised former chief minister Siddaramaiah's term.

"I am confident that we will come back to power. Everyone in the past has worked their best to build the party. Siddaramaiah being a full-term chief minister gave the best programs to Karnataka, his government's programs were the best of all time," Shivakumar said at a press conference on Friday.

He further assured his full support to anyone who wanted to work for the betterment of the party.

"Though I have become the state president of the party but I am still the worker of Congress and each of us should work for the party as ground workers. I am ready to give any kind of support to those who want to work for the party. We need to take all caste, communities along for the betterment of the party," he said.

Shivakumar was appointed the state Congress President on March 11, while Eshwar Khandre, Satish Jarkiholi, and Saleem Ahmed have been appointed working presidents of Karnataka Pradesh Congress Committee.

Comments

First Tell your all MP & MLA s that if they wish to join BJP better join from now later after getting elected from the congress they betray the voter, such hiddnen sangis from congress to be kicked out.

Add new comment

Coastaldigest.com reserves the right to delete or block any comments.
Coastaldigset.com is not responsible for its readers’ comments.
Comments that are abusive, incendiary or irrelevant are strictly prohibited.
Please use a genuine email ID and provide your name to avoid reject.

U T Khader alleges scam in purchase of corona equipments by Karnataka govt

News Network

July 7,2020

Bengaluru, Jul 7: Former Health minister and Congress MLA UT Khader has alleged that the state government has purchased coronavirus equipment for more than twice the actual price.

"Rs 500 sanitizers have been purchased for Rs 900 and Rs 9,000 has been paid to Rs 1200 for the thermal metre by the government. Instead of asking to allow him to work, Mr B Sriramulu, being health minister he must work for the people," he said.

He said that three months have passed since the pandemic started but the state government is still struggling to send ambulances to needy patients.

"Instead of ambulance it is sending final rights vehicle to needy people," Khader said.

According to the Ministry of Health and Family Welfare, there are 23,474 coronavirus cases in Karnataka including 13,255 and 372 deaths.

Comments