Store our oil and take 2/3rd for free: UAE’s offer to India

February 11, 2016

New Delhi, Feb 11: In a first of its kind deal, UAE’s national oil company Adnoc has agreed to store crude oil in India’s maiden strategic storage, and give two-third of the oil to it for free.

UAE

India, which is 79% dependent on imports to meet its crude oil needs, is building underground storages at Visakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka to store about 5.33 million tonnes of crude oil to guard against global price shocks and supply disruptions.

Abu Dhabi National Oil Company (Adnoc) is keen on taking half of the 1.5 million tonnes Mangalore facility, oil minister Dharmendra Pradhan said on Wednesday.

It will stock 0.75 million tonnes, or 6 million barrels, of oil in one compartment of Mangalore facility. Of this, 0.5 million tonnes will belong to India and it can use it in emergencies. Adnoc will use the facility as a warehouse for trading its oil.

The 1.33 million tonnes Visakhapatnam storage, and 2.5 million tonnes Padur stockpile together with 1.5 million tonnes Mangalore storage will be enough to meet nation’s oil requirement of about 10 days.

After talks with visiting UAE minister for energy Suhail Mohammed Al Mazrouei, Pradhan said tax issue remains to be sorted out before Adnoc can begin storing oil at Mangalore.

Congress-ruled Karnataka government has not yet agreed on waiving VAT on the crude oil imported for the strategic storage, which UAE wants to use to stock oil when prices are low and supply to its customers when rates are good.

“This will be beginning of our strategic ties,” he said, adding that Prime Minister Narendra Modi’s visit to UAE in August last year, the first by an Indian Prime Minister in 38 years, laid the foundation of closer cooperation.

The UAE had then committed to invest $75 billion in India, and Pradhan on Wednesday showcased to Mazrouei opportunities for that investment.

“We have offered them refinery projects, petrochemical plans, pipelines and LNG terminals for investment,” he said.

On offer was 26% stake for $700 million in ONGC’s about-to-be-commissioned petrochemical project at Dahej in Gujarat, and 24% equity for $200 million in expansion being planned by BPCL of its subsidiary Bina refinery in Madhya Pradesh from 6 million tonnes to 7.5 million tonnes.

Also, an investment of $530-850 million can get the UAE 25-40% stake in HPCL’s planned petrocehmical plant on the Andhra coast, he said, adding that the Gulf national can also invest in the planned 60 million tonnes in Maharashtra and the Jagdishpur-Haldia and Paradip-Surat gas pipelines.

“UEA makes up for 8% of our oil imports. We are trying to import more oil from UAE. In 2016-17, we plan to import 2.5 million tonnes more oil than current year’s purchase of 16.11 million tonnes,” he said.

Besides Adnoc, Kuwait Petroleum Corp (KPC) too has evinced interest in hiring a part of the maiden strategic storage.

Comments

shamshuddin mohammed
 - 
Thursday, 11 Feb 2016

Dear mangaloreans Tear your passport now and say Goodbye to Gulf Countries, Now you have become Oil Rich Mangaloreans Hats off........... smile please.....

mohammad.n
 - 
Thursday, 11 Feb 2016

Dubai petrol in India, American nuclear in India. What next? Can we get some safe place to live peacefully ???!!!!

AK
 - 
Thursday, 11 Feb 2016

The Hindus are Fooled to fight the muslims but the leaders are just hugging the muslims to worldly gain.. What a POLITICS ! the hindus are FOOLED by cheddis and they are hugging each other.
Dear sharan pumpwell.. please U may need arab support later when u will exhaust from communal riots.. People will fed up and may throw u out of the country to arab lands.. So avoid creating COMMUNAL riots.

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News Network
April 24,2020

New Delhi, Apr 24: The death toll due to the novel coronavirus rose to 723 with 37 fatalities reported since Thursday evening, while the number of cases saw a record jump of 1,752 to go up to 23,452 cases on Friday, according to the Union health ministry.

The previous highest single day increase was on April 20 when 1,540 cases were reported.

The number of active COVID-19 cases stood at 17,915 as 4,813 people were cured and discharged, and one patient migrated, the ministry said.

Thus, about 20.52 per cent of the cases have recovered so far, an official of the ministry said. 

The Indian Council of Medical Research (ICMR) said that 23,502 samples have been confirmed positive as on April 24 at 9 am.

The health ministry's figure of 23,452 cases include 77 foreign nationals.

A total of 37 deaths were reported since Thursday evening of which 14 fatalities were reported from Maharashtra, nine from Gujarat, three from Uttar Pradesh, two each from Andhra Pradesh, Delhi, Madhya Pradesh, Tamil Nadu and Telangana and one from Karnataka, the ministry's data stated.

Of the 723 deaths, Maharashtra tops the tally with 283 fatalities, followed by Gujarat at 112, Madhya Pradesh at 83, Delhi at 50, Andhra Pradesh at 29, Rajasthan at 27 and Telengana at 26.

The death toll reached 24 in Uttar Pradesh, 20 in Tamil Nadu while Karantaka has reported 18 deaths.

Punjab has registered 16 deaths while West Bengal has reported 15 fatalities.

The disease has claimed five lives in Jammu and Kashmir, while Kerala, Jharkhand and Haryana have recorded three COVID-19 deaths each.

Bihar has reported two deaths, while Meghalaya, Himachal Pradesh, Odisha and Assam have reported one fatality each, according to the ministry data.

However, a news agency tally of the figures reported by various states as on Friday showed 23,577 cases and 743 deaths in the country.

There has been a lag in the Union health ministry figures, compared to the number of deaths announced by different states, which officials attribute to procedural delays in assigning the cases to individual states.

According to the ministry's data updated in the evening, the highest number of confirmed cases in the country are from Maharashtra at 6,430 followed by Gujarat at 2,624, Delhi at 2,376, Rajasthan at 1,964, Madhya Pradesh at 1,852 and Tamil Nadu at 1,683.

The number of COVID-19 cases has gone up to 1,604 in Uttar Pradesh, 984  in Telangana and 955 in Andhra Pradesh. The number of cases has risen to 514 in West Bengal, 448 in Kerala, 463 in Karnataka, 427 in Jammu and Kashmir,  277 in Punjab and 272 in Haryana.

Bihar has reported 176 coronavirus cases, while Odisha has 90 cases. Fifty-five people have been infected with the virus in Jharkhand and 47 in Uttarakhand. Himachal Pradesh has 40 cases, Chhattisgarh and Assam have registered 36 infections each so far.

Chandigarh has 27 COVID-19 cases, Andaman and Nicobar Islands 22 while  18 cases have been reported from Ladakh.

Meghalaya has reported 12 cases, and Goa and Puducherry have seven COVID-19 cases each.

Manipur and Tripura have two cases each, while Mizoram and Arunachal Pradesh have reported a case each.

"Our figures are being reconciled with the ICMR," the ministry said on its website.

States wise distribution is subject to further verification and reconciliation, it said.

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News Network
February 28,2020

New Delhi, Feb 28: The Congress on Friday reacted sharply to the petition in the court seeking registration of a First Information Report against Sonia Gandhi, Rahul Gandhi and Priyanka Gandhi Vadra for alleged hate speeches. It said the petition was to save BJP leaders Pravesh Verma, Anurag Thakur and Kapil Mishra, referring to the trio as "PAK".

Congress leader Jaiveer Shergil told news agency, "It is political interest litigation to hide the failure of the government and to put a lid on the BJP's involvement in fuelling the fire in Delhi riots.

"This is to hide and save BJP's PAK -- Pravesh, Anurag and Kapil," said Shergil.

The BJP has two parameters, the laws for the common man and citizens of the country are different from those for the BJP leaders, added Mr Shergil.

The Delhi High Court on Friday issued notices on a petition for the registration of an FIR against Sonia Gandhi, Rahul Gandhi, Priyanka Gandhi Vadra and others on charges of delivering hate speeches.

Congress said that the PIL was politically motivated and the inaction on the hate speeches made by the BJP leaders, which led to the riots, was shocking.

"When there are 48 cases registered, why three cases against the BJP leaders are not registered," asked Mr Shergil.

A Bench of Chief Justice DN Patel sought responses from the Central and Delhi governments apart from Delhi Police on a petition filed by Lawyers Voice. The matter will again be heard on April 13.

The petition also sought a case against Aam Aadmi Party leaders Manish Sisodia and Amanatullah Khan, All India Majlis-e-Ittehadul Muslimeen leaders Akbaruddin Owaisi and Waris Pathan, and lawyer Mehmood Paracha.

"Issue directions to constitute an SIT to look into these hate speeches and take appropriate action. Issue direction to register an FIR against those named in the petition," the petition said.

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News Network
June 23,2020

Jun 23: The U.S. government on Monday restricted charter flights from India, accusing the nation of "unfair and discriminatory practices" by violating a treaty governing aviation between the two countries.

Air India Ltd. has been making flights to repatriate its citizens during the travel disruptions caused by the Covid-19 outbreak, but also has been selling tickets to the public, the Transportation Department alleged.

At the same time, U.S. airlines have been prohibited from flying to India by aviation regulators there, the DOT said in its order. The situation "creates a competitive disadvantage for U.S. carriers," the agency said in a press release.

Air India is advertising a schedule that is more than half of pre-virus operations, the department said. "The charters go beyond true repatriations, and it appears that Air India may be using repatriation charters as a way of circumventing" that nation's flight restrictions, the U.S. agency said.

The order becomes effective in 30 days, the department said.

Indian airlines must apply to the DOT for authorization before conducting charter flights so that it can scrutinize them more closely, it said. The department will reconsider the restrictions once India lifts restrictions on U.S. carriers.

The action against India follows weeks of DOT restrictions against Chinese airlines after the U.S. agency accused that nation of unfairly banning American carriers in the wake of the virus. On June 15, the U.S. announced it would agree to allow four flights a week from China after it allowed the same number by U.S. carriers.

Attempts to reach Air India and the Indian embassy in Washington after business hours were unsuccessful.

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