I-T searches 130 premises of Joyalukkas jewellery

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.

Thiruvananthapuram, May 22: Kerala reported its highest rise of COVID-19 cases in a single day with 42 new cases on Friday of which 23 returned from other states and 17 from abroad.

Addressing media persons, Kerala Chief Minister Pinarayi Vijayan said that of the new cases, 23 have come back from other States (Maharashtra-21, Tamil Nadu-1 and Andhra Pradesh-1) and 17 have returned from abroad (Kuwait-7, UAE-5, Saudi Arabia-2 and Qatar-2). Two are cases of local transmission including one health worker in Kasargod.

"A total of 12 persons from Kannur district, seven in Kasargod district, five each from Kozhikode and Palakkad districts, four each in Thrissur and Malappuram districts, two from Kottayam district, and one each in Kollam, Pathanamthitta and Wayanad districts are those who have tested positive, " he said.

Meanwhile, two patients under treatment for Coronavirus in Malappuram district have tested negative today. The total number of confirmed Covid-19 cases in Kerala is 732 and 216 patients are now under treatment in different hospitals. Kannur and Malappuram districts have 36 patients each, followed by 26 in Palakkad district, 21 in Kasargod district, 19 in Kozhikode district and 16 in Thrissur district.

The Chief Minister said that a 73-year-old woman had died in Thrissur district. She had recently returned from Mumbai.

There are 84,258 persons under observation across the state, 83,649 are quarantined at their homes or institutional quarantine centres and 609 are isolated in hospitals.

A total of 162 persons were admitted to hospitals today.

Till now, 51,310 samples have been sent for testing and 49,535 samples have been confirmed without any infection. Apart from this, as part of sentinel surveillance of high-risk groups, 7,072 samples were tested separately and out of these, 6,630 samples have been confirmed with no infection.
No new place was declared as hotspot today and there are 28 hotspots in the state.

So far, 91,344 people have come to the state from foreign countries and other states by road, sea and air.

Expressing concern over the rising numbers, the Chief Minister said, "The increase in numbers is a serious warning. Our COVID-19 preventive measures need to be enhanced. More people are expected to come back and we will ensure proper testing, treatment and care to all. Serious patients are among those who are coming back."
"We will ensure additional facilities including ventilators in hospitals to accommodate more in-patients. Huge rush is being seen at some places. People should observe more self-restraint or else all efforts will become ineffective," he added.

Mangaluru, Apr 25: In the backdrop of protest staged by locals against the cremation of a 75-year-old woman, who was tested positive for coronavirus, Dakshina Kannada Deputy Commissioner Sindhu B on Friday stated that there is no chance of anyone getting infected from a corpse.

Protocols, as laid by the Centre with regard to cremation of Covid-19 patients, will be followed, said Sindhu in a statement.

The release added that the COVID-19 victims would be buried as per their religious customs. Not more than 20 people would be allowed to perform the last rites. Even closest relatives of the deceased would not be allowed to touch or bathe the body, the release said.