Three Indian ships set sail for MALABAR exercise with US, Japanese navies

Agencies
May 11, 2018

Singapore, May 11: Three Indian naval ships sailed out of Singapore on Thursday to join upcoming MALABAR exercise which will be held jointly with the US and Japanese navies off Guam in the Pacific Ocean.

Speaking to reporters at the sailing off, India's High Commissioner to Singapore Jawed Ashraf said the Eastern Team fleet is continuing India's commitment and objective to see the oceans remain "peaceful, open space and uncontested".

"These ships are on their way to MALABAR exercise with the navies of United States and Japan, and one of them, INS Sahyadri, will take part in the 'RIMPAC' exercise," he said.

RIMPAC or the Rim of Pacific Exercise is the biggest maritime warfare exercise involving navies of several countries. It is held by the US Navy biennially in the ocean around Hawaii.

The US-Japan-India joint naval exercise comes amidst flexing of muscles by China in the regional waters.

During the deployment while on MALABAR exercise, the ships will be building partnerships and closer bonds with the navies of Thailand, Malaysia, Indonesia and Vietnam.

"In a way, our engagement with the region is growing with regular exercises," he said, stressing on the excellent relations with major maritime power.INS Sahyadri and INS Kamorta as well as tanker INS Shakti, with 730 navy personnel, were in Singapore for three days, interacting with the local Navy.

Ashraf underlined India and Singapore's naval relations, which last year saw visits by India's eight navy ships and two coast guard ships.

"With Singapore, we have the longest and uninterrupted exercise which has been going on for 25 years," he said.

The envoy also highlighted the success of Indian Ocean Naval Symposium, a platform where navies can communicate with each other and develop a sense of understanding, which has now grown to 34 member countries including Singapore.

MILAN, he said, was another naval exercise promoting multi-lateral exercises and understanding in managing oceans.

He stressed India's good relations with many of the littoral states, saying "we will continue to build on that".

"We are conscious of the need to work with others (navies) to prevent any contesting (in the Ocean)," said the envoy, adding that the Indian Ocean remains most peaceful and the most uncontested region.

The US had last week warned China that it would face "consequences" for military buildup in the disputed South China Sea in the Pacific Ocean where Beijing has deployed anti-ship cruise missiles and surface-to-air missile systems.

China is engaged in hotly contested territorial disputes in both the South China Sea and the East China Sea. China claims almost all of South China Sea. Vietnam, Philippines, Malaysia, Brunei and Taiwan have counter claims.

In April, the Chinese military held its largest ever maritime drill in the disputed South China Sea during which it displayed for the first time the country's aircraft carrier strike group and the most advance weaponry of the People's Liberation Army (PLA).

The drill was held amid frequent forays made by US naval and aircraft into the South China Sea to assert the freedom of navigation especially around the artificial islands built by China, where it has also established garrisons.

Meanwhile, the Indian High Commission here said the visit of naval ships seeks to underscore India's peaceful presence and solidarity with friendly countries towards ensuring good order in the maritime domain.

"Indian Naval assets have been increasingly deployed in recent times to address the main maritime concerns of the region. The current deployment will contribute towards the Indian Navy's efforts to consolidate inter-operability and forge strong bonds of friendship across the seas," it said in a statement.

India and Singapore share a rich history and a strategic relationship, it said, adding that a number of bilateral agreements exist between the two countries in various spheres.

An Indian naval delegation also interacted with Republic of Singapore Navy (RSN) representatives during their visits on board under construction RSN's new Littoral Mission Vessel (LMV) RSS Justice and at International Fusion Centre.

The three Eastern Fleet Ships had arrived in Singapore on 6 May.

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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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News Network
July 17,2020

Thiruvananthapuram, Jul 17: A gunman posted at the United Arab Emirates (UAE) Consulate in Thiruvananthapuram allegedly attempted suicide on Friday, the police said.

"A gunman who was working at the United Arab Emirates (UAE) Consulate in Thiruvananthapuram allegedly attempted to commit suicide today. He is currently admitted to a hospital. 

The police were searching for him after his relatives had filed a missing complaint on Thursday night. A case has been registered and a probe is underway," said Police.

The person is identified as Jayagosh. He is attached to the police Armed Reserve (AR) camp and was reported missing since last night. Later, his relatives had filed a missing complaint with the police.

Jayagosh was later found lying in a pool of blood near his house in Akkulam and was taken to the hospital.

A police investigation is underway and more details are awaited.

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News Network
January 10,2020

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.

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