ONGC Videsh
Coverage Online
Daily Media Monitor
Nov 24, 2017
(OVL/ONGC Videsh)
| Headline / Summary |Website |Journalist |Tonality |
|(OVL) |
|ONGC Videsh Acquires 15% Interest in Eco Atlantic’s PEL 0030 “Cooper|Oil Voice |Bureau |Positive |
|Block”, Offshore Namibia | | | |
|Summary: - Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V:EOG), is delighted to announce that ONGC Videsh, through its wholly owned subsidiary ONGC Videsh |
|Vankorneft Pte. Ltd. (“OVVL”), has entered into agreement with Tullow Namibia Limited (“Tullow”) whereby OVVL will acquire a 15% working interest in the |
|Cooper Block (Namibia Petroleum Exploration License 0030 for Block 2012A) (the “Cooper Licence”), offshore Namibia. |
|Mexico Bid Round/Mexico Oil & Gas |
|Mexico Oil Exports Up, Economy Seen Bouncing Higher in Fourth |Natural Gas Intel |Carolyn Davis |Neutral |
|Quarter | | | |
|Summary: - Mexico’s economy contracted an annualized 0.8% in the third quarter, partly because of two major earthquakes, but economists are predicting a |
|bounceback in the fourth quarter. Among other things, oil exports increased by almost 21% in the first nine months from the same period of 2016, and overall |
|industrial production is rising. |
|As Mexico’s and Venezuela’s Fall, Brazil’s Oil Production Rises |Oil & Gas 360 |Bureau |Neutral |
|Summary: - Brazil is now the third-largest oil producer in the Americas, behind only Canada and the U.S., according to the EIA. The EIA reports Brazil |
|produced Brazilian oil output has been rising since the mid-1990s, growing from less than 1 MMBOPD to nearly 3.7 MMBOPD in July this year. |
|Global Bidding - Oil & Gas |
|Bidding Action Heats Up In UK’s Continental Shelf |Oil Price |Zainab Calcuttawala |Neutral |
|Summary: - “With 68 companies bidding, many of which we know to be new entrants, this response can be viewed as a vote of confidence in the UK Continental |
|Shelf,” said Oil & Gas UK’s upstream policy director, Mike Tholen. “It offers early signs that the $8 billion of merger and acquisition activity highlighted |
|in our Economic Report is translating into activity in the basin. This will help realize as much of the 2-6 Bbbl of yet to find potential, particularly given |
|the maturity of this licensing round and its large inventory of prospects and undeveloped discoveries.” |
|KP to seek CCI nod for oil exploration rights sans bidding |Dawn |Bureau |Neutral |
|OG OIL & GAS EXTENDS OFFER TO ALLOW TIME FOR REGULATORY APPROVAL |Share Chat |Bureau |Neutral |
|Summary: - The oil and gas division of Ofer Global has received acceptances which, together with its current shareholding, total more than 40 percent of NZOG |
|and it needs another 10 percent to reach the minimum 50 percent threshold, it said in a release to the stock exchange. The offer has been pushed out 11 days |
|to get regulatory approval, which includes getting consent from the Overseas Investment Office. |
|Global Oil Exploration/ Drilling - Oil & Gas |
|L.A. may try to block reopening of oil drilling site blamed for |LA Times |Emily Alpert Reyes |Neutral |
|health problems | | | |
|Summary: - Los Angeles City Councilman Gil Cedillo is pursuing an unusual plan that could thwart the reopening of a South L.A. oil drilling site that |
|suspended operations after a public outcry over nosebleeds and other health problems reported by neighbors. |
|Ineos expands into North Sea oil and gas exploration |BBC |Bureau |Neutral |
|Summary: - Ineos has bought a majority stake in two exploration licences in areas far to the north of Shetland, thought to have strong prospects for gas |
|reserves. It is the latest deal for the privately-owned group which recently branched out into fashion by acquiring the motorcycle wear brand Belstaff. |
|Predator Drilling Acquires Assets of J.B. Hunt Gas and Oil Drilling |Market Wired |Bureau |Neutral |
|Summary: - Predator Drilling LLC, a subsidiary of Predator Drilling Inc. of Red Deer, Alberta, has acquired all assets of J. B. Hunt Gas and Oil Drilling of |
|Midland, Texas in an all equity transaction. The experience and successful business practices of the J. B. Hunt family will be utilized to enhance and elevate|
|Predator Drilling to even greater prominence in the drilling industry. |
|Global Oil Price |
|$40 WTI Is Now More Realistic Than $60 |Oil Price |Tsvetana Paraskova |Neutral |
|Summary: - The current rise in oil prices is more of a fear trade right now, driven by fear of what is going on in the Middle East, rather than a result of |
|growing OPEC chatter or inventory reports, Todd Horwitz, chief strategist at , told Bloomberg on Wednesday. |
|Is Trouble Brewing In The Permian? |Oil Price |Irina Slav |Neutral |
|Summary: - The Permian shale play has been attracting so much attention lately it’s started to get a little bit boring. But not for oil investors. The rush to|
|the Permian has continued as everyone forecasts growing production there. The projections suggest strong growth—doubling production over the next three years |
|according to some Permian producers. |
|Maduro Names Chavez’ Cousin As Citgo Boss |Oil Price |Irina Slav |Neutral |
|Summary: - Venezuela’s President Nicolas Maduro appointed the cousin of late Hugo Chavez, Asdrubal Chavez, as the new head of PDVSA’s U.S. refining and |
|marketing business, Citgo. The announcement comes in the wake of the arrest and removal of Citgo’s president and five senior executives earlier this week. |
|Kurdistan’s Oil Exports Still Below Pre-Conflict Levels |Oil Price |Tsvetana Paraskova |Neutral |
|WTI Prices Surge On Keystone Spill |Oil Price |Nick Cunningham |Neutral |
|Summary: - Oil prices surged on Wednesday on news that the Keystone pipeline might not restart for several weeks. The outage at the damaged pipeline ended |
|several years of contango for WTI, pushing the benchmark into a state of backwardation for the first time since 2014. |
|Keystone pipeline spill pushes up oil price |World Pipeline |Elizabeth Corner |neutral |
|The 10 Most Influential Oil Countries |Oil Price |Zainab Calcuttawala |Neutral |
|Summary: - The world’s top oil exporters are undoubtedly some of the world’s most influential countries. As such, it behooves analysts to always stay abreast |
|of the internal dynamics of these economic power houses. Here’s what’s going on in the countries that have the power to make or break the oil market. |
|MoPNG |
|Govt. aims to double farmers income: Union Minster Dharmendra |KNN |Bureau |Positive |
|Pradhan | | | |
|Indian bio-fuel market to grow to Rs 1 lakh crore: Dharmendra |Pragativadi |Bureau |Positive |
|BUSINESS CORNER |The Pioneer |Bureau |Neutral |
|Consultative Workshop on New National Policy on Biofuels and Pradhan|Free Press Journal |Bureau |Positive |
|Mantri Ji- Van Yojana | | | |
|3.68 lakh LPG connections issued in J&K under PMUY |UNI |Bureau |Positive |
|ONGC/ONGC Videsh/Oil & Natural Gas Corporation/OVL |
|PSU oil M&As exempt from CCI nod |The Hindu |Bureau |Neutral |
|Cairn India / GAIL / HPCL / BPCL / RIL / Reliance / KG Basin / MRPL |
|GAIL spurts 3%; top gainer on Nifty50 |India Infoline |Bureau |Neutral |
|TAPI Gas Pipe Line / Iran / Shale Gas / Shale Oil |
| | | | |
|Natural Gas / Crude Oil / Crude Oil Price / Brent / Nymex / Ethanol / Blending / Oil & Natural Gas / LNG Vessel / PNGRB |
|Will Rise In Crude Oil Prices Impact Equity Markets? |Dalal Street |Bureau |Neutral |
|Freight rates surge on commodity boom |Business Standard |Rajesh Bhayani |Neutral |
|India imports filthiest fuel, offers tax advantage |Money Control |Bureau |Neutral |
|Indian refiners processed record oil volume in October: Government |Economic Times |Reuters |Neutral |
|Is WTI Crude Oil Outdoing Brent? |Market Realist |Bureau |Neutral |
|Ministry of External Affairs |
|Sushma Swaraj to hold talks with counterparts from Denmark, Greece |Indian Express |PTI |Positive |
|and Finland | | | |
|Sushma Swaraj to attend SCO summit in Russia: MEA |Hindustan Times |Bureau |Positive |
|PMO/Give It up/ Direct Benefit Transfer |
|Arun Jaitley accuses CM for not examining him on defamatory remarks |Economic Times |PTI |Neutral |
|Delhi High Court to continue hearing Arun Jaitley defamation case |New Indian Express |ANI |Neutral |
|No proposal to withdraw cheque book facility: Arun Jaitley |Indian Express |PTI |Positive |
|Narendra Modi’s CMship BJP’s strength even now |Economic Times |Vashudha Venugopal |Positive |
|BJP banks on Narendra Modi to swing Patidar votes in its favour |India Today |Poulomi Saha |Positive |
|Gujarat elections: Narendra Modi to kick off BJP’s poll campaign on |The Mint |PTI |Positive |
|27 Nov | | | |
|Parliament is being delegitimised in the popular imagination, writes|Hindustan Times |Rajdeep Sardesai |Positive |
|Rajdeep Sardesai | | | |
|Balance can be struck between privacy and national security: PM Modi|Times of India |Bureau |Positive |
|PM Modi calls on nations to make cyber space safer |Hindustan Times |Bureau |Positive |
|PM Narendra Modi inaugurates Global Conference on Cyberspace 2017, |Financial Express |Bureau |Positive |
|launches Umang app | | | |
|Cyberattacks a significant threat to democracy: Modi |The Mint |Komal Gupta |Positive |
|PM Narendra Modi is Manmohan Desai of politics: Sitaram Yechury |Economic Times |IANS |Positive |
|Shatrughan Sinha fires salvos at PM Narendra Modi, Amit Shah |Economic Times |PTI |Positive |
|Better subsidy targeting via technology saved $10 bn: PM Narendra |Money Control |PTI |Positive |
|Modi | | | |
|Narendra Modi launches all-in-one UMANG app at Global Conference on |First Post |Bureau |Positive |
|Cyberspace: Here's what it can do for you | | | |
|ONGC Videsh Acquires 15% Interest in Eco Atlantic’s PEL 0030 “Cooper|Oil Voice |Bureau |Positive |
|Block”, Offshore Namibia | | | |
Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V:EOG), is delighted to announce that ONGC Videsh, through its wholly owned subsidiary ONGC Videsh Vankorneft Pte. Ltd. (“OVVL”), has entered into agreement with Tullow Namibia Limited (“Tullow”) whereby OVVL will acquire a 15% working interest in the Cooper Block (Namibia Petroleum Exploration License 0030 for Block 2012A) (the “Cooper Licence”), offshore Namibia.
The acquisition is subject to satisfaction of customary conditions precedent, including Namibian regulatory and joint venture partners approvals as well as the grant of a twelve month extension to the First Renewal Exploration Period by the Namibian regulatory authority.
The working interests in the Cooper Block following the acquisition by OVVL will be:
• Eco Atlantic (Operator): 32.5%
• NAMCOR (the National Petroleum Corporation of Namibia): 10%
• AziNam Ltd: 32.5%
• Tullow Oil: 10%*
• OVVL: 15%
* Tullow Oil has the option to increase its stake by 15% in exchange for a capped well carry.
The Cooper License is currently within the ‘First Renewal Exploration Period' under the terms of the licence and the joint venture partners are continuously carrying out data evaluation to identify an exact drill location. Eco also recently announced, on 2 November 2017, that it had released its Public Notice for Environmental Clearance Certificate (ECC) for Drilling an exploration well within its Osprey Lead on the Cooper Block.
The Osprey lead, is in approximately 500 meters of water. Eco has completed the interpretation of several thousand kilometers of 2D seismic as well as completing a 1,100 kilometer 3D Survey, carried out by PGS Geophysical, across the lead. Eco Atlantic has also contracted Tullow's Exploration team, which has extensive expertise in these types of fan plays which are similar to the Jubilee Field in Ghana, to oversee processing and conduct the initial interpretation for the block partners. Additionally, each of the partners, whose teams have evaluated the data, all concur that there is a highly justifiable lead and an exact drilling location is being defined.
Eco has recently filed a NI51-101 Compliant report by Gustavson Associates that reported 882 Million Barrels (BOE) of Oil (Gross Prospective - Best) resources on the Block. The Company intends to further define an exact drilling location and to move the project ahead through to a drilling decision.
Eco are also pleased to announce that the Company and its respective partners have received and accepted a 12 month extension for the first renewal period (from March 2018 to March 2019) for all three Blocks – PEL 0030 “Cooper”, PEL 0033 “Sharon” and PEL 0034 “Guy”. This was granted by the Ministry of Mines and Energy on October 16th 2017.
Gil Holzman, President and CEO of Eco commented:
“This is a further endorsement of Eco's strategy and the quality of the acreage that we have in our portfolio. This is ONGC Videsh's second foray into Namibia and we are delighted, on the satisfaction of the conditions precedent, that they have decided to enter the Cooper Block. They are an excellent partner with considerable expertise and a strategy of adding high - quality exploration and production assets to its existing E&P portfolio. Obviously this deal bears the potential to expedite the first exploration well on Cooper Block, as all the partners are now lined up and the financial burdens are spread.
“We look forward to working with them as we accelerate the work programme on this license and further define the exact drilling location.”
|Mexico Oil Exports Up, Economy Seen Bouncing Higher in Fourth |Natural Gas Intel |Carolyn Davis |Neutral |
|Quarter | | | |
Mexico’s economy contracted an annualized 0.8% in the third quarter, partly because of two major earthquakes, but economists are predicting a bounceback in the fourth quarter. Among other things, oil exports increased by almost 21% in the first nine months from the same period of 2016, and overall industrial production is rising.
The consensus growth forecast for 2017 held steady in October at 2.1%, according to the Federal Reserve Board of Dallas. Petroleum exports improved, and employment growth remained strong, economists said in a monthly update issued last week.
Manufacturing exports rose 6.6%, and oil exports were up 20.9% in the first nine months of 2017. Mexico’s industrial production, which includes manufacturing, construction, oil and gas extraction, and utilities, grew 0.3% in August.
The update was published in parallel last week with one about Texas, whose energy economy is increasingly tied to Mexico as natural gas exports grow.
Texas energy-specific employment expanded in September by 4,100 to roughly 222,000, with oil and gas extraction jobs increasing for the first time since April, according to the Federal Reserve Bank of Dallas.
Overall, the state’s energy industry during September marked the eighth consecutive monthly increase in jobs.
“Support activities for mining added 2,100 jobs, and payrolls in oil and gas extraction increased by 2,000,” said Fed researchers reporting for the Eleventh District. “U.S. oil and gas employment stood at 409,200 in September, with Texas accounting for 54% of the total.”
Researchers credited the rising job growth to rising West Texas Intermediate crude oil prices, with production growth in the Permian Basin remaining strong. Total U.S. crude exports also reached an all-time high during October.
Within the Eleventh District, Permian production during October increased by 60,800 b/d to 2.57 million b/d, and Eagle Ford Shale production was up 8,600 b/d to 1.22 million b/d.
“This marks the 13th consecutive monthly increase in Permian production,” researchers said. “Eagle Ford production has remained relatively flat, increasing only 40,600 b/d over the past 12 months.”
At the end of October, operating rigs numbered 379 in the Permian and 65 in the Eagle Ford, according to the Eleventh District, which covers Texas, northern Louisiana and southern New Mexico.
A Fed survey of energy executives conducted in September found that business within the Eleventh District improved during the third quarter, but at a slower pace than earlier this year.
Specifically for the Permian, which covers 55 counties in West Texas and southern New Mexico, employment continued to expand in September, growing at a 5.9% monthly annualized rate. “Year-to-date employment has expanded by 5,300 jobs -- or a 4.6% year-to-date annualized rate -- and has been trending upward since December 2016,” researchers said.
A “potential tailwind” was the third quarter Fed survey, which showed the outlook index rising sequentially to 28.2 from 20.3, while uncertainty among energy executives decreased.
“This could be a hopeful sign for increased employment in the Permian,” said Fed researchers.
The Permian unemployment rate during September declined to 2.9%, only slightly above the 2.7% rate in December 2014, which was the lowest unemployment rate since 2005.
Meanwhile, the Permian rig count during October contracted for the first time since May 2016, to 381 versus 383 in September.
However, even with the lower rig count, economists expect continued expansion, as oil production from the basin increased by 60,800 b/d from September to October, with total production at slightly under 2.6 million b/d.
While the number of Permian rigs declined, the tally of drilled but uncompleted wells (DUC) is expanding at a swift pace.
The Permian DUC count to date in November, more than doubled since October 2016, most recently stood at 2,533, while the count for the United States, excluding the Permian, totaled about 4,800.
|As Mexico’s and Venezuela’s Fall, Brazil’s Oil Production Rises |Oil & Gas 360 |Bureau |Neutral |
Brazil now third-largest oil producer in Americas
Brazil is now the third-largest oil producer in the Americas, behind only Canada and the U.S., according to the EIA. The EIA reports Brazil produced Brazilian oil output has been rising since the mid-1990s, growing from less than 1 MMBOPD to nearly 3.7 MMBOPD in July this year.
While the U.S. has always been the largest oil producer in the Americas, Canada, Mexico, Venezuela and Brazil have all competed for runner up. With current production of 4.8 MMBOPD, Canada seems to have secured second...
|Bidding Action Heats Up In UK’s Continental Shelf |Oil Price |Zainab Calcuttawala |Neutral |
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This week, the British Oil & Gas Authority (OGA) reported that 68 companies had applied to operate one or more of 239 different blocks located off the United Kingdom’s coast.
“With 68 companies bidding, many of which we know to be new entrants, this response can be viewed as a vote of confidence in the UK Continental Shelf,” said Oil & Gas UK’s upstream policy director, Mike Tholen. “It offers early signs that the $8 billion of merger and acquisition activity highlighted in our Economic Report is translating into activity in the basin. This will help realize as much of the 2-6 Bbbl of yet to find potential, particularly given the maturity of this licensing round and its large inventory of prospects and undeveloped discoveries.”
The 30th round closed on November 21st. The next one is set for mid-2018, but details regarding the auction have yet to be released. The OGA is due to report the results of the 30th round next Monday.
“Efforts by the OGA to provide new data, analysis, and insights has stimulated a number of high-quality applications,” OGA head of exploration and new ventures Nick Richardson said. “Together with the added advantages of flexible licensing, technology development and improvements to the oil and gas fiscal regime, this has evidently created the right conditions to support continued investment in the UKCS.”
The UK production for both oil and gas follow fairly good bell curves about ten years behind the equivalent exploration drilling and discovery curves. This round, regions with significant existing investment got more applications, Richardson said.
“The focus on regions with existing infrastructure provided companies with an excellent opportunity to take a fresh look at a large inventory of opportunities from which to rebuild their portfolios to help sustain future production,” he added.
|KP to seek CCI nod for oil exploration rights sans bidding |Dawn |Bureau |Neutral |
The Council of Common Interest (CCI) is set to take up Khyber Pakhtunkhwa government’s demand for the award of petroleum exploration rights in the province to the federal and provincial holding companies without holding bidding.
The 34th meeting of the CCI is scheduled to take place in Islamabad on Friday with Prime Minister Shahid Khaqan Abbasi in the chair and all provincial chief ministers in attendance.
The meeting’s itinerary has the KP government’s one agenda i.e. petroleum exploration rights without bidding and two non-agenda items, including access to real-time data of oil, gas and electricity production in the province.
The CCI will also consider the implementation of its decision regarding the payment of net hydel profit (NHP) arrears to the provincial government.
Forum also set to take up province’s request for access to real-time data of oil, gas, power production
The KP government has proposed to allow the provincial holding companies to enhance their investment base and encourage the much needed investment in the exploration activities. “KP proposes one-time relaxation for the award of one new exploration block to each of the four provincial holding companies in their respective provinces and one block to the GHPL in any part of the country without competitive bidding,” the meeting’s agenda notes.
The exploration rights are granted under the Petroleum Rights and Production Policy, 2012, which states the overall process should be carried out through competitive bidding, which also applies to public sector companies.
The KP government, which has incorporated 100 percent owned provincial holding company named KPOGCL, which has also been followed by other province and company has taken up this matter with the ministry of petroleum and natural resources to grant new exploration blocks located in the province without following competitive bidding.
However, the federal government has objected to it, saying the policy does not allow the grant of petroleum exploration rights without bidding.
The forum will also discuss the provincial government’s request to implement the decision of the Inter-Provincial Coordination Committee taken on Sept 2017 for the finalisation of the Kazi Committee Methodology in letter and spirit in regard to the NHP payment.
The federal government has to pay an outstanding payment of Rs16.82 billion for the 2016-17 to the province, while during for the current year until October, the centre owes the province to the tune of Rs11 billion.
The CCI will also take up the KP’s demand to access to the real-time data of electricity production in the country, duration of outages of KP feeders and usage by Discos as non-agenda item.
The KP government is of the view that it has utilisation share of 13.5 percent in daily national production of electricity. However, it is not getting its share from the centre besides lacking mechanism to monitor the daily production in the country.
The province has been demanding of the centre to immediately install requisite software at the provincial energy and power department to enable it to monitor electricity production, power allocation to each Disco and duration of outages on each feeder in the province in real-time.
KP also says such an access will also help it in the calculation of accrued NHP, which it gets on the basis of units produced at hydropower stations in the province.
The provincial government says it should have the right to allocate the electricity from the less recovery feeders to high recovery feeders so that the available power from the National Power Control Centre is fully utilised.
The forum will also take up a similar request from the KP government regarding access to the real-time data of oil and gas wellheads in the province and consumption of these utilities locally.
KP has long been calling for immediate installation of software by the Sui Northern Gas Pipelines Limited at the energy department for ascertaining the amount of processed gas dispatches and consumed in the province.
|OG OIL & GAS EXTENDS OFFER TO ALLOW TIME FOR REGULATORY APPROVAL |Share Chat |Bureau |Neutral |
OG Oil & Gas has pushed out the closing date of its partial takeover bid for New Zealand Oil & Gas to Dec. 20 to allow time to obtain regulatory approvals.
The oil and gas division of Ofer Global has received acceptances which, together with its current shareholding, total more than 40 percent of NZOG and it needs another 10 percent to reach the minimum 50 percent threshold, it said in a release to the stock exchange. The offer has been pushed out 11 days to get regulatory approval, which includes getting consent from the Overseas Investment Office.
While Prime Minister Jacinda Ardern this week scotched a report that all applications currently before the OIO were on hold, the government has begun policy work to tighten up further the sale of New Zealand assets to foreign investors. The extent of the moves are not known in detail but appear likely to go well beyond the announced creation of an effective ban on the sale of existing homes to non-resident foreign purchasers.
OGOG has offered to acquire up to 67.55 percent of the NZOG shares it does not already hold or control at a price of 78 cents per share, up from the 77 cents per share bid it initially floated. The higher OGOG bid won over NZOG's independent directors who unanimously recommend shareholders accept the revised offer.
Ofer Global is a private portfolio of international businesses chaired by Eyal Ofer. The global firm wants to preserve NZOG's exploration opportunities and has named the Barque prospect off the Canterbury coast as too interesting to ignore. If it wins over shareholders it plans to find international partners for the deepwater prospect, which was ranked ninth among the world's top oil and gas targets in a survey presented to a recent petroleum conference in New Zealand.
|L.A. may try to block reopening of oil drilling site blamed for |LA Times |Emily Alpert Reyes |Neutral |
|health problems | | | |
Los Angeles City Councilman Gil Cedillo is pursuing an unusual plan that could thwart the reopening of a South L.A. oil drilling site that suspended operations after a public outcry over nosebleeds and other health problems reported by neighbors.
Cedillo, who represents the area near the Allenco Energy Inc. site, wants the city to use a rarely exercised power under its municipal code to cancel “oil drilling districts” where drilling is allowed.
In a proposal Tuesday, he called on city staffers to identify “inactive” drilling districts in the part of Los Angeles he represents, which stretches from Highland Park to Pico-Union, and report on the steps to terminate them.
“We want to protect our environment and protect our residents,” Cedillo said. “And we want to be guided by the facts.”
Cedillo did not specifically name Allenco in his proposal, but said in an interview that the plan would affect the 23rd Street site.
If the drilling districts that include Allenco were terminated, “they wouldn’t be able to operate — because there would be no drilling district for them to operate in,” Cedillo spokesman Fredy Ceja said.
Allenco did not immediately respond to an emailed request for comment Tuesday. A person who answered the phone at Allenco offices, who declined to provide his full name, said the company had no comment.
The proposal was applauded by environmental and community activists who have called for the city to halt all drilling near homes and schools.
"After experiencing the harmful health impacts when the Allenco site was open ... our neighborhood would be grateful to see the site permanently shut down," Nancy Halpern Ibrahim, executive director of Esperanza Community Housing, said in an email.
Before the drilling site shut down, neighbors had long complained of nosebleeds, dizziness and other health problems. After federal and local investigations were launched and environmental officials were sickened by fumes while visiting the site, the company agreed to suspend operations at the urging of then-Sen. Barbara Boxer (D-Calif.).
City Atty. Mike Feuer then sued the company and secured a court order that requires Allenco to follow stringent regulations if it wants to resume drilling. The company was also ordered to pay $1.25 million in penalties. It had already spent more than $1 million on other penalties and improvements to fix leaks, improve equipment and comply with state and federal laws.
“This has been, by far, the worst site in the city, as far as compliance issues and violations,” city petroleum administrator Uduak-Joe Ntuk said earlier this month.
Fearful that drilling could restart soon, community activists have called on the Roman Catholic Archdiocese of Los Angeles, which owns the site, to terminate the Allenco lease and shut it down permanently. The Los Angeles County Department of Public Health has also urged the archdiocese to reexamine the lease, saying the oil site had a “deleterious effect” on community health.
The archdiocese emphasized in a recent statement that it does not operate the drilling facility, but was working with city officials and Allenco to “explore possible alternative uses for the site.”
If an oil drilling district were terminated, a new one could subsequently be created through a city ordinance, which would need to be approved by the City Council, Ntuk said.
|Ineos expands into North Sea oil and gas exploration |BBC |Bureau |Neutral |
[pic]
Chemicals giant Ineos is making a move into deep water oil and gas exploration in the North Sea.
Ineos has bought a majority stake in two exploration licences in areas far to the north of Shetland, thought to have strong prospects for gas reserves.
It is the latest deal for the privately-owned group which recently branched out into fashion by acquiring the motorcycle wear brand Belstaff.
It also bought Swiss football club Lausanne-Sport earlier this month.
The chemicals firm, which was founded by billionaire Jim Ratcliffe, has agreed with Aberdeen-based Siccar Point Energy, to take on two-thirds of the exploration licences.
Ineos already has stakes in gas fields in the southern North Sea, acquired when it took over the portfolio built up by DONG Energy of Denmark earlier this year.
Tom Crotty of Ineos told Radio 4's Today programme: "It is a big shift [for us], we entered the North Sea just over two years ago, then had a step-up last year.
"We thought it would now be time to step into exploration."
He admitted that at this stage it might not be possible to accurately foresee the amount of gas reserves in the region.
He added: "There is always a risk until until you get into the detail... but we believe we are proficient operators. We are looking to do this at costs that reduce our risks."
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Where do Ineos's ambitions end?
Douglas Fraser, business and economy editor, BBC Scotland
Ineos has grown rapidly to take on a widening range of strategically important assets in the UK and far beyond.
It does so with a management team tightly grouped around chairman Jim Ratcliffe, travelling light, nimble in decision-making, and snapping up opportunities while oil, gas and debt remain cheap.
Its roots are firmly in chemicals, with $40bn (£30bn) annual sales, and 18,500 employees across 105 sites in 22 countries.
In his control of the Grangemouth refinery and petro-chemical plant in central Scotland, Mr Ratcliffe showed his smart but ruthless streak, taking on Unite the union, threatening a shut-down and forcing a humiliating retreat.
While doing so, he sent a message to governments in Edinburgh and London that he controls the tap on a facility that is vital for the national economy.
[pic]Image copyrightGETTY IMAGES
The reward for getting more workforce flexibility was investment in a new plant processing ethane, which Ineos ships from the US.
The company moved upstream from 2015, buying mature and new oil and gas fields. That year, it bought assets from German-owned L1, comprising 8% of UK gas production.
Earlier this year, it bought offshore assets from DONG Energy of Denmark, including fields in UK, Danish and Norwegian waters. Priced at $1bn, they pump 100,000 barrels per day, and have 570 million barrels of viable reserves.
The deal made Ineos one of the top ten UK producers, and the biggest in private hands.
Last month, the company took over the Forties Pipeline Network from BP, feeding Grangemouth with nearly 40% of the UK's oil and gas production, drawing from 85 facilities.
Meanwhile, Ineos is leading the push for fracking in Britain. Scottish MSPs have closed that option, but the company is acquiring fracking opportunities in England. And yesterday, it signed a major deal that will see it shipping fracked US gas to China.
At least two questions arise: where do its ambitions stop, and when will its scale begin to limit its efficiency?
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Recoverable gas reserves
The deal with Siccar Point Energy includes the so-called Lyon cluster of potential fields in an area of deep water known as the Northern Gas Fields. These lie around 150 km (90 miles) north of Shetland, under 1,600 metres of water.
The Lyon field is expected to yield between one and three trillion cubic feet of recoverable gas reserves, meaning that it could become a hub for surrounding fields.
Other finds in the area were made 18 years ago in fields named after whisky distilleries - Tobermory, Bunnehaven and Cragganmore.
Siccar Point already has a stake in these, along with Total of France and the energy group SSE.
However, these finds are too small to be viable without a bigger hub, to which they could be connected by pipelines.
|Predator Drilling Acquires Assets of J.B. Hunt Gas and Oil Drilling |Market Wired |Bureau |Neutral |
Predator Drilling LLC, a subsidiary of Predator Drilling Inc. of Red Deer, Alberta, has acquired all assets of J. B. Hunt Gas and Oil Drilling of Midland, Texas in an all equity transaction. The experience and successful business practices of the J. B. Hunt family will be utilized to enhance and elevate Predator Drilling to even greater prominence in the drilling industry.
Since 2008, Predator Drilling has a successful track record, growing from five rigs to an international fleet of thirty-one rigs. Predator Drilling is a company that safely delivers performance excellence, and the acquisition of J. B. Hunt Gas and Oil Drilling assets will expand its foot-print and drilling depth capacity in the Permian Basin. These assets include six, one thousand horsepower (HP) single drilling rigs, equipped with state of the art automation and safety systems. Predator Drilling's broad inventory of unique and specialized equipment, enhanced by its world-class safety processes and predictive maintenance programs, are key to the expansion in the Permian Basin.
"This is a milestone day for Predator Drilling. Our core values align with the business culture of J.B. Hunt Gas and Oil Drilling and we are excited to have members of the J.B. Hunt family join the Predator team. The performance of Predator Drilling and the dedication to safety and environmental standards are second to none. This acquisition enhances Predator Drilling's integrated service model and extends our reach in the Permian Basin. Our teams' determination, perseverance and pride, along with the progressive attitude of our clients in the energy sector has allowed for exponential growth; we have increased our fleet in Texas from one rig to ten since September 2016. We are excited for the opportunities this acquisition will present and look forward to building greatness together." - Shane Walper, President & CEO, Predator Drilling
About The Company: Predator Drilling partners with clients to commercialize their resource plays with a modern and efficient fleet of drilling rigs that are backed by a team of knowledgeable and well trained personnel. Its fleet is well suited for; integrated drilling services, including transportation, cementing, coring, shallow and deep pre-set, horizontal, directional, slant and mining applications. Predator Drilling's philosophy is based on the idea that when the right team of trained people and the right equipment are assembled, then performance excellence is the outcome – meaning exceeding the clients' needs & expectations. Predator Drilling safely delivers performance excellence through demonstrated respect, accountability & teamwork.
|$40 WTI Is Now More Realistic Than $60 |Oil Price |Tsvetana Paraskova |Neutral |
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The current rise in oil prices is more of a fear trade right now, driven by fear of what is going on in the Middle East, rather than a result of growing OPEC chatter or inventory reports, Todd Horwitz, chief strategist at , told Bloomberg on Wednesday.
“The oil premiums are very narrow going out to the future, which means that this is more of a fear trade in the front month,” Horwitz said on ‘Bloomberg Markets’.
“To me, this is more of just another farce of what OPEC is trying to do, and trying to push these prices higher,” the strategist noted.
OPEC and its non-OPEC partners in the production cut deal are scheduled to meet in Vienna on November 30 to discuss the extension of their pact. While just a month ago a nine-month extension to the end of 2018 was the base case of all analysts, now there are growing voices that OPEC may delay the decision to early next year. The constant OPEC chatter and the return of some geopolitical risk premium in oil prices--with Saudi Arabia’s purge, heightened Saudi-Iran tensions, and the Iraq-Kurdistan standoff—have pushed oil prices to their highest in two years over the past few weeks.
According to Horwitz, however, the WTI price has little room to rise from its current price of around $58 per barrel, because U.S. shale will return stronger.
There’s a better chance that WTI prices will drop to the low $40s than they rise to the low $60s, Horwitz said.
“I would think that the rigs will be back in the fields and the shale producers will be pumping it out like crazy at these levels,” Horwitz said.
On Wednesday, Baker Hughes said that the number of oil and gas rigs in the United States rose again this week. The boost in the number of active oil rigs this week brings the total gained in November to 10—the first monthly gain since July. Oil and gas rigs combined were up by 14 in November—also the biggest increase seen since July, in a sign that drillers are once again eager to add rigs after scaling back in August.
|Is Trouble Brewing In The Permian? |Oil Price |Irina Slav |Neutral |
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The Permian shale play has been attracting so much attention lately it’s started to get a little bit boring. But not for oil investors. The rush to the Permian has continued as everyone forecasts growing production there. The projections suggest strong growth—doubling production over the next three years according to some Permian producers.
But one analyst thinks that this explosive growth is a rather unlikely event.
At a recent event, Michael Hanson from merchant bank Parkman Whaling said that there is a set of conditions that producers in the Permian will need to meet if their vision of doubling production by 2020 is to become a reality. These are all conditions that do not depend on the producers themselves, but on a lot of factors they have no control over, which makes the challenge all the greater.
For starters, despite the Permian’s reputation for being a low-cost play, costs are not equally low across it. If production is to go from 2.2 million bpd currently to 4 million bpd, according to Hanson, international oil prices will need to remain higher for longer. Though the chances of this happening right now look good, nothing is ever certain in oil, and OPEC’s upcoming meeting in Vienna may very well disappoint.
If you think you have your finger on the pulse of the oil market, think again. Even Andy Hall—the oil trader known as “God”—earlier this year shut down his hedge fund, admitting his inability to predict today’s oil markets.
Another challenge for the Permian is cost inflation. For the production boom to happen, it needs to remain low, but like oil prices, this metric is out of producers’ hands. Capital availability is another challenge; many producers have very high debt levels, causing banks to be wary of lending them more, despite the bright-future shale oil predictions of authorities including IEA and EIA.Related: Thanksgiving Travelers Smash Records
Finally, says Hanson, oil needs infrastructure to be transported to its destination.
All these challenges do not mean that production in the Permian will soon slacken. A lot of analysts are very bullish on its medium to long-term development. A recent event at the University of Houston discussed these with a lot of participants that seemed to share the optimistic outlook. Wood Mac research director R. T. Dukes, for instance, compared Permania to the production boom in the Eagle Ford that occurred between 2012 and 2014, only, he said, this one will be bigger, “as much as 50 percent bigger.”
While a lot of observers share this attitude, there are some who question the hype. Oil consultant Art Berman is one notable contrarian. Berman noted earlier this year that the vast reserves of the Permian may in fact be grossly exaggerated and a couple of months ago warned that while some producers in the Permian were making money in the then-current oil price environment, most were not. While he acknowledged the potential of the Permian in terms of reserves and production costs, Berman remains cautious about its ability to turn the United States into a swing producer.
Others note that it’s not all about supply in today’s world. Houston Chronicle’s business columnist, Chris Tomlinson, noted at the UH event that there is a push to move away from fossil fuels altogether on a global scale, and this was bound to affect production trends in the Permian as it reshaped demand patterns in the future.
Tomlinson’s words to the other panelists at the event foretell of some major developments we are likely to witness in the energy industry in the next few years.
“People need your product, but they fundamentally don’t like it,” Tomlinson said. “As much as people in the oil industry may believe sincerely that they are doing a public good, your customer doesn’t see it that way. And they will switch to an alternative at the first chance they get.”
|Maduro Names Chavez’ Cousin As Citgo Boss |Oil Price |Irina Slav |Neutral |
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Venezuela’s President Nicolas Maduro appointed the cousin of late Hugo Chavez, Asdrubal Chavez, as the new head of PDVSA’s U.S. refining and marketing business, Citgo. The announcement comes in the wake of the arrest and removal of Citgo’s president and five senior executives earlier this week.
The arrests were part of a larger-scale corruption crackdown that also saw nine PDVSA executives and a deputy minister get detained on allegations of falsifying crude oil production numbers.
The arrests, and the appointment of Asdrubal Chavez who led the oil ministry of Venezuela between 2014 and 2015, are part of a stated “crusade” against organized crime that was initiated by Venezuela’s new attorney general, Tarek William Saab, who took office in August. Recently, Saab said he had unveiled a deal worth about US$4 billion, in which Citgo has been used as a guarantee. The deal, the AG said, would have been detrimental to Venezuela.
Embattled Venezuela stopped making payments on its debts earlier this month, and according to a growing number of sources is effectively in default. Its oil production is falling due to lack of funds to maintain fields and infrastructure. However, Venezuela may have found a replacement for at least part of its lost oil revenues: natural gas exports.
Related: Is This The Ultimate Fuel For Millennials?
Reuters reported earlier today that PDVSA was in talks with Colombia, Trinidad and Tobago, and Aruba, to ship natural gas to them. The country has substantial gas reserves offshore, but they have been neglected in favor of oil so far.
Until recently, Colombia was the one exporting gas to Venezuela, but now PDVSA has modified the pipeline that carried that gas so that it can flow in the opposite direction. The talks with Ecopetrol have taken a long time, a PDVSA official said, because of the weak gas prices, which have made it difficult to agree on the size of the export deal.
|Kurdistan’s Oil Exports Still Below Pre-Conflict Levels |Oil Price |Tsvetana Paraskova |Neutral |
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Kurdistan’s crude oil exports increased in the past couple of days, but oil flows are still well below the levels seen before the independence referendum in the semi-autonomous region that raised the tensions between the Kurds and the federal government in Baghdad.
Kurdistan’s oil flows rose to 270,000 bpd on Wednesday and Thursday, compared to flows of between 200,000 bpd and 230,000 bpd in October, Kurdistan 24 news outlet reportedon Thursday, quoting oil sources.
Although crude oil flows from Kurdistan are on the rise, they are still nearly half the volumes compared to the levels before the Kurds voted on September 25 to break away from Iraq. Baghdad—which never recognized the legitimacy of the referendum—moved on in October to take control over the oil-rich area around Kirkuk.
In the middle of last month, Iraqi government forces seized the oil fields around Kirkuk, which had been under Kurdish control since 2014. The military maneuver knocked some 350,000 bpd of crude oil production offline, and led to oil prices spiking on concerns of unstable supply from the region. The Iraq-Kurdistan conflict was the first of a series of geopolitical events in the Middle East (the other being the Saudi purge) that pushed Brent oil prices above $60 a barrel at the end of October.
Related: Is U.S. Energy Independence Realistic?
Since Iraq’s federal forces seized Kirkuk from the Kurds, disruptions in oil flows have been an almost daily occurrence, and reports have it that the flow of crude oil from Kirkuk to the Turkish Mediterranean port of Ceyhan halved compared to the volumes before the conflict erupted.
Iraq’s central government has started pumping oil from Kirkuk to Ceyhan, as it started exporting from the Avana field in Kirkuk via the Kurd-operated pipeline to Ceyhan. State-held North Oil Company was said they would also work to begin exporting from the nearby Bai Hassan oil field.
|WTI Prices Surge On Keystone Spill |Oil Price |Nick Cunningham |Neutral |
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Oil prices surged on Wednesday on news that the Keystone pipeline might not restart for several weeks. The outage at the damaged pipeline ended several years of contango for WTI, pushing the benchmark into a state of backwardation for the first time since 2014.
TransCanada made a lot of headlines in the past week. The Keystone pipeline ruptured and spilled more than 200,000 gallons of crude oil in South Dakota last week, just days before TransCanada was given a greenlight for the Keystone XL in the state of Nebraska. South Dakota regulators now say that they could revoke the permit for the Keystone pipeline if it is found that the company violated the terms of its license. The spill was the third for the Keystone pipeline in less than 10 years.
“If it was knowingly operating in a fashion not allowed under the permit or if construction was done in a fashion that was not acceptable, that should cause the closure of the pipe for at least a period of time until those challenges are rectified,” said Gary Hanson, a member of the South Dakota Public Utilities Commission, told Reuters.
TransCanada said on Wednesday that it could take weeks to clean up the spill and bring the pipeline back online – news that sent shockwaves through the oil market. WTI spot prices surged on the news, pushing the benchmark back up above $58 per barrel.
Related: Norway’s $35B Oil Stock Dump Could Hurt The Industry
TransCanada said that November deliveries through the pipeline would be cut by about 85 percent, a major outage for the nearly 600,000-bpd pipeline. Phillips 66, a major refiner that purchases crude from the pipeline, said that it is expecting an outage of about four weeks.
This will accelerate the inventory drawdowns in the U.S. as refiners lean more on storage. According to Reuters, the outage could cut shipments to the U.S. by about 7 million barrels through November, a figure that would obviously grow if the outage lasts longer than expected.
The news not only sent spot prices up, but it also pushed WTI futures into a state of backwardation, a situation in which near-term oil futures trade at a premium to longer-dated contracts. Backwardation tends to be a sign of a tighter oil market, which is why supply for immediate delivery trades at higher prices. WTI has not been in backwardation since 2014. A few months ago, Brent flipped into backwardation, helping to incite some bullishness in the oil market, but WTI remained in a narrow contango.
The opening up of backwardation could induce steeper drawdowns on inventories as it becomes costlier to store oil because the cargo will only fetch lower prices when sold off at a later date. As companies unload inventories, the drawdowns could provide a further boost to WTI. At the same time, WTI is still trading at a discount to Brent, which means that U.S. crude exports will continue at elevated levels, another reason why inventories could continue to post strong weekly declines.
Related: U.S. Oil Rig Count Rises Amid Record Breaking Production
Of course, what happens next largely depends on the outcome of the OPEC meeting next week. There is a danger of a sharp selloff in crude prices if OPEC fails to extend its production limits for 9 months through the end of 2018, a proposal that has been heavily hyped by OPEC officials for weeks. The large buildup in bullish bets by hedge funds and other money managers adds another element of danger, making the downside risk much greater than the upside.
But should inventory data from the U.S. demonstrate much larger-than-expected declines – owing in part to the Keystone outage – that would go a long way to putting a floor beneath WTI. “We’re going to need to see this kind of [reduced inventories] data every week to start another leg on this rally,” Gene McGillian, research manager at Tradition Energy, told the Wall Street Journal.
|Keystone pipeline spill pushes up oil price |World Pipeline |Elizabeth Corner |neutral |
The shutdown of the Keystone pipeline following an oil spill has lifted crude oil prices to levels not seen in two and a half years.
Last week's leak and shutdown of the Keystone pipeline have raised concerns about this vital source of supply, causing oil prices to jump 2% on Wednesday, touching US$58.09 a barrel, the highest since July 2015.
About 5000 bbls of oil, or roughly 210 000 gal., spilled in South Dakota after the leak last Thursday. The pipeline is a key artery that carries crude into the United States from the oil sands of Alberta.
Traders are braced for lower supplies from Canada.
A manager with the South Dakota Department of Environment and Natural Resources told press that the clean up will take several weeks, suggesting that pipeline flow will continue to be curtailed.
“With no timeline for restart, expect roughly 4 million bbls/week of Canadian imports to be backed out,” TAC Energy, a fuel wholesaler, said in a note to customers.
The news pushed the price of West Texas Intermediate, the US oil benchmark, to a 28 month high of US$58.09 a barrel, up 2.2% on the day. The price of WTI for prompt delivery also rose in comparison to contracts for future delivery, suggesting traders were scrambling to obtain immediate supplies.
|The 10 Most Influential Oil Countries |Oil Price |Zainab Calcuttawala |Neutral |
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The world’s top oil exporters are undoubtedly some of the world’s most influential countries. As such, it behooves analysts to always stay abreast of the internal dynamics of these economic power houses. Here’s what’s going on in the countries that have the power to make or break the oil market.
1. Saudi Arabia
As the world’s leading oil exporter, Saudi Arabia shipped 7.5 million barrels per day in 2016, according to data published by the Organization of Petroleum Exporting Countries (OPEC). As far as oil exports go, the Kingdom is top of the pile, despite the OPEC agreement that cut 486,000 barrels per day off its production level of 10.5 million bpd. The Kingdom holds a lot of clout in the oil market, and as such, plays a leading role in the industry cartel, which is currently implementing a 1.2 million-barrel per day production cut to rebalance a three-year supply glut plaguing oil markets.
Despite its reigning supreme in the oil export arena, not all is well in the royal palace. Mohammed bin Salman (MBS), the newly crowned heir to the throne, started the month off with a series of shocking arrests of powerful royals and businessmen in a domestic power consolidation marketed in official outlets as an anti-corruption drive.
The unity of the Saud family has been a hallmark of the nation since the establishment of the Third Saudi State back in 1902. Infighting in the palace could cause the nation to fall back into contentious politics at a time when it needs to chart its course towards economic diversification, as outlined in MBS’s Vision 2030—a plan that may move Saudi Arabia away from oil, unseating it from its top spot on the list.
2. Russia
Outside of OPEC, Russia dominates the oil export game, hitting roughly 5.5 million barrels per day last year. Like Saudi Arabia, it too has clout, and it knows how to use it.
Moscow has teamed up with its rivals at OPEC to reduce the current oversupply that is keeping oil prices down. Russia has cut output by 300,000 bpd to assist in the team effort, but the reduction largely cuts into a boost in production that began right before the agreement was made.
Russia’s oil plays have focused on the Middle East as the U.S. foreign policy agenda in the region has weakened following the swearing in of President Donald Trump. Libya, Syria, and Iraq are now all on the receiving end of extra attention from Putin since the beginning of the year.
3. Iraq
Baghdad has been particularly resistant to calls to reduce production to levels agreed upon in the OPEC quotas, claiming that it is in desperate need of the oil revenues. Its stubborn resistance has forced Saudi Arabia to compensate for Iraq’s steady production levels, which amounted to an export rate of 3.8 million barrels per day in 2016, according to OPEC data.
4. Canada
Canada is the largest exporter that is not part of the OPEC/NOPEC agreement, putting it at economic odds with the efforts to draw down the global glut. With the world’s third-largest oil reserves, Canada exports just over 3.2 million barrels per day, mostly to the USA.
Canada’s status as a reliable ally to the American and Western European foreign policy agenda provides a guilt-free source of fuel for its southern neighbor. Thousands of miles pipelines connect the U.S. and Canada, the most significant of which is the Keystone pipeline, controversially being expanded to XL status to bring Canadian oil to Gulf refineries.
Its pipeline woes, caused by pipelines falling grossly out of favor as of late, may soon cap its exports to America.
5. United Arab Emirates
The tiny Gulf community of emirates exported an impressive 2.5 million barrels per day last year, which represents 40 percent of the country's GDP. It’s recent squabble with neighboring Qatar has put the UEA in the spotlight.
The UAE was a key ally for Saudi Arabia in its ongoing battle against Qatar’s acquiescence of Iran for the exploitation of the South Pars gas field. The blockade against Doha, which began back in June, caused the UAE to end its relationship as the central shipping hub of the Qatari LNG industry—the largest of its kind.
Related: Thanksgiving Travelers Smash Records
As for its commitment to the OPEC deal, the UAE has been quick to publicly support an extension—but has only managed to comply fully with the cuts for a single month out of the entire length of the agreement.
6. Kuwait
While it’s not a big player in the export market, oil is the backbone of Kuwait’s economy. Kuwait pumped out 2.1 million barrels per day into international markets back in 2016, which represents 95 percent of the country’s total export revenues.
Iraq is still paying reparations to Kuwait for its invasion of the latter country back in 1990.
7. Iran
Off again, on again most aptly describes Iran’s presence on this list. Once a non-entity in the oil market due to the sanctions levied against it, now it’s established its presence, taking a bite out of Saudi Arabi’s market share. Although both Saudi Arabia and Iran are members of OPEC, they are competing for market share as Iran struggles to regain what it lost during those painful sanction years.
Since Iran’s reintroduction to world oil markets in January, Tehran has recovered its output to an average of about 2 million barrels per day. Production has been running a bit over 3.8 million bpd—more than both Kuwait and the UEA which have beat Iran with exports.
The Trump administration is determined to terminate the international nuclear pact against Iran, threatening its spot here on this list, but Tehran’s strict adherence to the terms of the deal makes it difficult for a Republican Congress to justify levying new sanctions against the country in front of the international community.
8. Venezuela
Venezuela, a nation failing to fund its hospitals and stock its grocery stores, is a founding member of the cartel, with an export rate still falling from a 2016 average of 1.9 million barrels per day in 2016, according to OPEC. Oil money earns the country 95 percent of its export revenues. Production in October 2017 has fallen to 1.863 million bpd, and exports along with it.Related: Is This The Ultimate Fuel For Millennials?
While it’s perceived clout in the world when it comes to oil exports appears to be waning, its ability to swing prices is strong, in that prices jump every time news breaks of its pending default—or actual default. Its poor oil quality has caused some shipments of oil to be refused, and it has struggled to keep production going as its cash dries up.
Years of economic mismanagement exacerbated by a three-year downturn in oil prices have now caused runaway inflation and violent street clashes, as President Nicolas Maduro prioritizes paying its international creditors, the most prominent of whom have already declared Caracas in default.
9. Nigeria
Nigeria, the largest African oil producer and exporter, ships 1.7 million barrels per day of oil. In 2016, it temporarily lost the top spot to Angola due to a militancy in the Niger Delta, a major oil-producing region.
Since the beginning of the year, the nation has stabilized, allowing output to recover at a cap of 1.8 million barrels per day. OPEC required the cap to make sure the nation’s gains do not interfere with the bloc’s production quota program.
10. Angola
Angola shipped 1.7 million barrels per day in 2016, with oil production and supporting activities contributing to roughly 45 percent of the nation’s gross domestic product and 95 percent of its exports.
The country’s new president just fired Isabel dos Santos, Africa’s richest woman, from her post as chief of Sonangol as part of a push to end entrenched corruption.
|Govt. aims to double farmers income: Union Minster Dharmendra Pradhan |KNN |Bureau |Positive |
[pic]Biofuel and waste management framework would form substantial ecosystem in India, said Dharmendra Pradhan, Minister for Petroleum and Natural Gas while addressing a consultative workshop on New National Policy on Biofuels & Pradhan Mantri Ji- Van Yojana (VGF for 2nd Generation Ethanol Bio Refineries). The event was organized by Ministry of Petroleum and Natural Gas to promote the biofuel generation in the country, reduce the dependency on crude oil and adoption of the environment friendly fuels.
The Union Minister said that the introduction of 1-Generation and 2-G Ethanol, Biodiesel, MSW to Fuel and Bio-CNG together with Methanol (DME) would accelerate the economic growth of the country. He added that India has potential to manufacture 62 million tonne of CNG which would increase employment and substitute upto 10 percent import till in next five years and would realize Government’s dream of Clean India.
The minister added that the government is eager to develop indigenous technologies which would strengthen the make in India campaign. (KNN/AG)
|Indian bio-fuel market to grow to Rs 1 lakh crore: Dharmendra |Pragativadi |Bureau |Positive |
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India’s nascent biofuel industry has the potential to develop into a flourishing Rs 1 lakh crore market in the coming years, said Petroleum and Natural Gas Minister Dharmendra Pradhan on Wednesday.
Addressing a workshop on “New National Policy (Draft) on Bio-fuels & Pradhan Mantri JI-VAN Yojana” here yesterday, the minister said 1-G and 2-G ethanol, bio-diesel, MSW (municipal solid waste) to fuel and bio-CNG together with methanol (DME) have huge potential in augmenting economic growth, generating employment and doubling farmers’ income.
“The requirement of petrol in 2030 will reach 5,000 crore litre from 3,000 crore litre now. Considering the 20 per cent blending target by 2030 under the Ethanol Blended Programme, the ethanol requirement will be 1,000 crore litre which, considering an average price of Rs 50 per litre, will result in Rs 50,000 crore business, excluding the supply chain and allied infrastructure investment,” Pradhan said.
The Minister said, 1-G and 2-G Ethanol, Bio-diesel, and Bio-CNG together with Methanol have huge potential in boosting economic growth, generating employment and doubling farmer’s income. It will be instrumental in achieving the target of 10 per cent import reduction by 2022, he claimed.
The workshop was organised as the government is promoting Biofuels with an objective to reduce dependency on import of crude oil, savings in foreign exchange, provide better remuneration for the farmers and address growing environment concerns.
|BUSINESS CORNER |The Pioneer |Bureau |Neutral |
Consultative Workshop on New National Policy on Biofuels, VGF organised
A consultative workshop on New National Policy on Biofuels & Pradhan Mantri Ji-Van Yojana (VGF for 2nd Generation Ethanol Bio Refineries) was organised on Thursday by Ministry of Petroleum and Natural Gas for inviting suggestions for drafting a suitable roadmap for Biofuels in India. The workshop was organised as the Government is promoting Biofuels with an objective to reduce dependency on import of crude oil, savings in foreign exchange, provide better remuneration for the farmers and address growing environment concerns in the light of PM Narendra Modi's Commitment at COP 21. During the day-long workshop 5 Working Groups on 1-G Ethanol, 2-G Ethanol, Biodiesel, Municipal Solid Wastes to Fuel & Bio-CNG comprising all the stakeholders (producers, bankers and buyers) deliberated issues related to their segment in detail and came up with many constructive suggestions and inputs. Union Petroleum Minister, Dharmendra Pradhan in his speech said that 1-G and 2-G Ethanol, Biodiesel, MSW to Fuel and Bio-CNG together with Methanol (DME) have huge potential in augmenting economic growth, generating employment and doubling farmers' income. He said this will be instrumental in achieving the target of 10 per cent import reduction by 2022 set by the Prime Minister, Narendra Modi.
Dr P Shakil Ahammed joins REC on Deputation as Sr Executive Director
Dr P Shakil Ahammed, an IAS Officer of 1995 batch of the Assam &Meghalaya cadre has joined REC on deputation with effect from 21st Nov, 2017 as Sr Executive Director for handling the coordination of implementation of various Government programmes. He has rich and varied experience of handling projects/assignments in various sectors which include Education, Tourism, Skill Development, and Information & Public Relations. Prior to joining REC, Dr Ahammed was working as Joint Secretary in the Department of Agriculture and Cooperation where he was in charge of the Horticulture Mission for India. Dr Ahammed has worked in several capacities with various departments/Offices such as Director in the Prime Minister Office, Director Tea Board, in the Indian Embassy at Moscow, apart from having handled several prestigious assignments for the Govt of Meghalaya.
NJ Yasaswy Memorial Lecture held at ICFAI, Hyderabad
ICFAI Foundation for Higher Education (IFHE), the Deemed University of ICFAI at Hyderabad, organised the 6th NJ Yasaswy Memorial Lecture recently, in Hyderabad. Dr Rathin Roy, the Director and CEO of the National Institute of Public Finance and Policy, was the Chief Guest for the event. The event was presided over by Dr C Rangarajan, the Chancellor, IFHE, who is the former RBI Governor and former Governor of undivided Andhra Pradesh. In his address, Dr Roy said, “The Need to Persist with Fiscal Consolidation”. He emphasised the need for fiscal prudence on the Government's part, in various fiscal decisions like borrowing, and spending, and managing the fiscal targets. Dr Roy drew an interesting analogy between alcoholism and the tendency to borrow in the name of public expenditure, which could result in deviation from the fiscal targets. He shared his views on the significance of a sound fiscal policy and appropriate fiscal decisions towards macro-economic stabilisation. He also said on the Fiscal Responsibility and Budget Management (FRBM) Act 2003, and its significance in reducing India's fiscal deficit. Dr Roy stressed on the need to act with judiciousness in fiscal policy making and implementation. The inaugural address by Dr J Mahender Reddy, Vice Chancellor, IFHE, captured a snapshot of the life of Late NJ Yasaswy and his towering contributions to research and academia. On the occasion, Dr Roy released a book titled ‘Tracking the Indian Economy: A Collection of Articles', authored by Dr Rangarajan, and published by IUP Publications, a division of the ICFAI Society.
Central Team assist in building twin pits in Champaran to mark World Toilet Day
In the run-up to World Toilet Day on Friday, behaviour change and toilet construction activities are being undertaken by the States and districts around the country. Leading this initiative, a senior central level team from the Ministry of Drinking Water and Sanitation performed shramdaan by asisting villagers in building twin-pit toilets in Turkauliya village in East Champaran district of Bihar. The senior officers, led by Secretary, Ministry of Drinking Water and Sanitation, Parameswaran Iyer, had arrived in the village on November 17, 2017, as part of a village immersion exercise. One of the aims of the exercise was to give the officials an opportunity to stay in the village for an extended period of time, interact with villagers directly, join in trigger behaviour change and discuss their challenges and aspirations over the course of three days, in one of the lowest sanitation coverage districts in the country. A special session with girl students of the area was organised at Turkauliya School. The World Toilet Day initiative in Champaran is expected to give an impetus to the Swachh Bharat programme in Bihar which is making special efforts to accelerate it's sanitation programme. In their interaction with the villagers, Secretary Iyer and his team emphasised the need to community's behaviour change and usage of toilet. The call was enthusiastically supportedby the villagers who promised to make their villages ODF soon.
Kalyanmayee (AAI) organises baby show at Modern Montessori International
A baby show was organised at a pre-school of Airports Authority of India’s Women Welfare Association ‘Kalyanmayee' recently. Anjali Mohapatra, President of the association inaugurated the event. In the baby show, topics related to routine care of the newborn, importance of child health vaccination were discussed with parents and appropriate solutions were provided by the paediatricians from the expert panel of PSRI. The show was sponsored by PSRI Hospital, IDDS and gifting partners Tupperware, Cetaphil and GSK made the event a great success with activities like art and craft, storytelling, magic show and selfie corner. This school is an initiative of Kalyanmayee in collaboration with Modern Montessori International (London) to unbox the creativity of the little minds through a gamut of activities, wherein children get ample opportunities to showcase their talent.
Ikris Pharma, Orphan Europe in a pact to help patients, doctors
Ikris Pharma Network Pvt Ltd and Orphan Europe SARL have entered into agency agreement whereas Ikris Pharma Networkwill work as service partner to Orphan Europe and will help patients and doctors in accessing Orphan Europe products in India, Sri Lanka, Pakistan, Bangladesh and Nepal through Named Patient Import. Orphan Europe(orphan-), which was founded in 1990 and thenacquired by Recordati () in 2007, is a France basedpharmaceutical company dedicated to research, development, manufacturing and marketing of drugs for rare diseases. Ikris Pharma Network Pvt. Ltd., based out of NOIDA in DELHI-NCR; having Pan-India presence, is a fast growing, specialty pharmaceutical consultancy and service company with a unique business model dedicated to delivering medicines difficult to be procured to needy patients mostly in Asian countries. “With the sign-off this agreement with Orphan Europe we will be able to bridge some gaps in unmet needs of the doctors in diagnosing, treating and managing patients with rare diseases. We will leverage our all India presence and strong networking within other Indian sub-continent countries with specialty doctors and disseminate the latest medical information about these rare diseasesto the doctors,” says Praveen Sikri, the Founder & CEO of Ikris Pharma Network Pvt Ltd. He further adds that Ikris will be the single point of contact for doctors & patients across India and Ikris will assist the patients in getting the medicine imported directly from Orphan Europe, once all local regulatory procedures for named-patient importation are fulfilled.
|Consultative Workshop on New National Policy on Biofuels and Pradhan |Free Press Journal |Bureau |Positive |
|Mantri Ji- Van Yojana | | | |
A consultative workshop on New National Policy on Biofuels & Pradhan Mantri Ji- Van Yojana (VGF for 2nd Generation Ethanol Bio Refineries) was organised here today by Ministry of Petroleum and Natural Gas for inviting suggestions for drafting a suitable roadmap for Biofuels in India. The workshop was organised as the government is promoting Biofuels with an objective to reduce dependency on import of crude oil, savings in foreign exchange, provide better remuneration for the farmers and address growing environment concerns in the light of Prime Minister Narendra Modi’s Commitment at COP 21.
During the day long workshop 5 Working Groups on 1-G Ethanol, 2-G Ethanol, Biodiesel, Municipal Solid Wastes to Fuel & Bio-CNG comprising of all the stakeholders (producers, bankers and buyers) deliberated issues related to their segment in detail and came up with many constructive suggestions and inputs.
Minister of Petroleum and natural Gas, Skill Development and Entrepreneurship Shri Dharmendra Pradhan in his speech said that 1-G and 2-G Ethanol, Biodiesel, MSW to Fuel and Bio-CNG together with Methanol(DME) have huge potential in augmenting economic growth, generating employment and doubling farmers’ income. He said this will be instrumental in achieving the target of 10% import reduction by 2022 set by the Prime Minister Shri Narendra Modi.
He said, during the workshop many constructive suggestions related to feedstock management, technology, capacity augmentation, fiscal incentives and Supply chain management were received. Shri Pradhan said he is happy to share that all the technologies are indigenously developed in India and will immensely boost Make In India campaign.
|3.68 lakh LPG connections issued in J&K under PMUY |UNI |Bureau |Positive |
Around 3.68 lakh connection of LPG have been issued under Pradhan Mantri Ujjwala Yojana in the state of Jammu and Kashmir.
During a meeting chaired by the Minister for Food, Civil Supplies and Consumer Affairs and Tribal Affairs Chowdhary Zulfkar Ali on Thursday, he was informed that around 3,68,000 LPG connections have been issued in J&K under Pradhan Mantri Ujjwala Yojana (PMUY).
The Minister appreciated the implementation of PMUY in the state and directed the officials concerned to identify more BPL families to ensure that no eligible beneficiary is left out.
He also asked the authorities of the oil companies to ensure that every consumer got home delivery within shortest possible time.
Taking note of negligence and lack of safety measures being observed during supply of LPG by way of taking loaded supply trucks to heavily populated localities, the Minister said that the LPG should be delivered to homes of each consumer adding, ‘’this method poses serious safety risks and for this, constitute a joint team headed by Controller Legal Metrology, Revenue Magistrate, officers of FCS&CA and Police Department Jammu to monitor and keep a vigil over such activities’’.
He asked for organisation of Safety clinics to promote safe use of LPG cylinder to check incidents of LPG cylinder blasts, which pose a threat to lives and property.
The Minister also asked LPG provider companies to organise awareness camps and workshops to apprise residents with precautions and safety measures in cylinder use.
|PSU oil M&As exempt from CCI nod |The Hindu |Bureau |Neutral |
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‘Move in public interest, is part of key reforms by government to fuel growth’
Combinations including mergers, acquisitions and amalgamations involving Central Public Sector Enterprises (CPSEs) operating in the oil and gas sector, have been exempted from seeking the nod of the Competition Commission of India (CCI) for five years from now.
The move, being carried out in “public interest”, comes even as the government had said in a statement on November 14 that it was undertaking a number of key economic reforms to fuel growth and that these included “consolidation of government-run oil companies.”
Clearing the decks
According to a Ministry of Corporate Affairs (MCA) notification dated November 22, “the Central Government in the public interest hereby exempts all cases of combinations ... involving the CPSEs operating in the Oil and Gas Sectors under the Petroleum Act... and the rules made thereunder or under the Oilfields (Regulation and Development) Act, 1948 ... and the rules made thereunder, along with their wholly or partly owned subsidiaries operating in the Oil and Gas Sectors, from the application of the provisions of sections 5 and 6 of the (Competition) Act (pertaining to combination and their regulation), for a period of five years from the date of publication of this notification in the Official Gazette.”
As per the Competition Act provisions, combinations over and above a certain threshold need the the competition watchdog CCI’s nod. Similarly, in August the MCA had notified “the Central Government in the public interest exempts, all cases of reconstitution, transfer of the whole or any part thereof and amalgamation of nationalised banks... from the application of provisions of Sections 5 and 6 of the Competition Act, 2002, for a period of 10 years from the date of publication of this notification.”
In July, the then Minister of State (Independent Charge) of the Petroleum and Natural Gas Ministry, Dharmendra Pradhan, had in a statement to the Lok Sabha said that the “Cabinet Committee on Economic Affairs in its meeting held on July 19 has given ‘in principle’ approval for strategic sale of the Government of India’s existing 51.11% of total paid up equity shareholding in Hindustan Petroleum Corporation Limited ( HPCL) to Oil and Natural Gas Corporation Limited (ONGC) along with transfer of management control.”
He added that “The proposed acquisition in the oil sector will create a vertically integrated public sector ‘Oil Major’ company having presence across the entire value chain.”
The Minister further said, “This will give ONGC an enhanced capacity to bear higher risks, take higher investment decisions and to neutralize the impact of global crude oil price volatility. The acquisition of HPCL by ONGC will result in significant synergies, in terms of optimization of logistics costs, R&D activities, economies of scale of purchase of crude oil and optimization in refinery operations.”
|GAIL spurts 3%; top gainer on Nifty50 |India Infoline |Bureau |Neutral |
Shares of GAIL India were up 3%, the top gainers on the Nifty 50 index, amid heavy trading volumes.
Over 30 lakh shares of GAIL India were traded on the NSE, against a daily average of 16 lakh shares.
The company posted a 42% rise in net profit for the second quarter ending September at Rs 1,309.6 crore, boosted by handsome earnings from its gas transportation and marketing business.
It’s net profit for the same quarter last year was Rs 925 crore. It earned a pre-tax profit of Rs 853.5 crore from gas transmission business during the second quarter, as compared with Rs 660.74 crore in the same quarter last year.
So far this year, shares of GAIL India are up 39%.
The stock is currently trading at Rs 457.95, up by Rs 13.4 or 3% from its previous closing of Rs 444.55 on the BSE. The scrip opened at Rs 445 and has touched a high and low of Rs 459 and Rs 443.1 respectively.
Gail India Limited is a leading natural gas transmission and marketing company. It is also engaged in petrochemical production and city gas distribution. It derived 92% of (FY17) revenues from natural gas transmission.
|Freight rates surge on commodity boom |Business Standard |Rajesh Bhayani |Neutral |
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Shipping freight rates are rising on the back of the commodity boom. The Baltic dry bulk, tanker segment, and other freight indices are rising fast for the past few months, following good demand in India, China, the Atlantic market, and the Gulf coast. The Baltic dry bulk index is up 45.3 per cent this year even after a small correction in the past few weeks, and has achieved more than a three-year-high level.
The Baltic dirty tanker index, reflecting movements in crude oil, in the past three months went up 33 per cent after a surge in Brent oil on expectations of production cuts by the Organisation of Petroleum Exporting Countries (OPECs), and geopolitical uncertainties in the region.
Similar movements have been seen in the S&P Platts shipping freight indices, which hold good for routes on which Indian ports fall. The past two weeks have seen some correction from higher levels but the consensus of freight agents, analysts, and shipping companies is that that trends in the shipping freight market are expected to remain firm.
Compiled by BS Research Bureau; Source:S&P Global Platts
Will it help shipping companies to revive their fortunes? That depends upon how many companies are in a position to cash in on high freights.
An executive of Shipping Corporation of India said, “Many companies have seen margins improving but it’s not significant and shipping companies are still not breaking even.” He said there was a lot of instability and volatility in the market. The past two weeks’ small correction shows while overall trends will remain firm in the case of freight, movements will not be one-sided.
Pradeep Rajan, senior managing editor, Asia Pacific Shipping & Freight, S&P Global Platts, said: “The dry bulk freight rates had registered a spike during September and October after steadily rising since the beginning of the second half of 2017 in the Asia-Pacific mainly due to the demand for coal in China and India.”
A CARE Ratings report on power plants says: “Rajasthan, Maharashtra, Karnataka and Andhra Pradesh have been highly affected by the coal-shortage.”
The tanker market, another important segment, has also seen demand despite the production cuts by OPEC and reports of the cuts being extended. “The rates from the start of the second half of the year have found support mainly due to the increase in the movement of crude oil from the Atlantic basin to Asia,” said Rajan.
Due to a wide gap in prices of Brent and WTI oil, some imports coming from Gulf nations have been replaced by US shale oil because prices of WTI oil are lower by 10-12 per cent. Rising imports from the US are keeping very large crude carriers employed for longer durations.
Internationally, even a strong Atlantic market, mainly due to a very robust grain market on the east coast of South America and the US Gulf Coast, drew vessels from the Asia-Pacific into the Western hemisphere, which tightened ship availability in the Asia-Pacific region. So while on the one hand vessels in the dry bulk segment were in demand, the slow entry of newly-built vessels into the market is curtailing the addition of more tonnage. The past two weeks’ correction from the peak has been attributed to a slow grain market in the Atlantic.
Apart from the coal demand in India, Rajan said, “The burgeoning Indian exports of steel, iron ore, pellets etc have provided ample demand for the Supramax class vessels.” A Shipping Corporation official said, “China is under watch as coal and ore import demand is expected to go up.”
|India imports filthiest fuel, offers tax advantage |Money Control |Bureau |Neutral |
Moneycontrol News
India, which is grappling with "severe" air quality index, imports the filthiest fuel, pet coke, and offers a tax advantage on it, according to a report from Environment Pollution (Prevention & Control) Authority for the National Capital Region.
The new tax regime incentivizes the use of pet coke, or petroleum coke, which is a refinery by-product, as it is taxed at 18 percent, much lower than alternate cleaner fuels such as natural gas.
Even though natural gas is excluded from the new tax regime, it is subjected to local levies that add 30 percent to its cost, according to a Bloomberg report.
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The quality of fuel used for combustion is based on the quantum and toxicity of emissions. Pet coke contains 65,000-75,000 ppm of Sulphur (SO2 —a toxic air pollutant) which is higher than the emission standard of 210 SO2 or 600 mg/Nm3.
On October 24, the Supreme Court had banned the use of pet coke and furnace oil (FO), another dirty fuel, in NCR from November 1 following a rapid fall in the city's air quality. It also asked industries to meet standards stipulated in the draft notification issued by Ministry of Environment, Forest and Climate Change (MOEF&CC) by December 31, 2017.
Also Read: Delhi air quality recorded at 'hazardous' levels - the worst that can be measured
The Air Act of 1980 (section 19.1 and 19.3) enables the government to prohibit the use of fuel, which is likely to cause air pollution, in air pollution control areas.
Imports of pet coke under Open General License (OGL) in India has gone up over the past two years after its prices fell sharply in the global market. India imported 14.37 million tonnes of pet coke in FY17.
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The sudden fall in prices was because of the key importer countries like China stopped its import due to domestic pollution concerns.
The United States, one of the exporter countries, have laid down restrictions on the use of pet coke in their country for the same reason.
In contrast, India increased the import of pet coke because it was cheaper than the alternative fuels like pulverized coal or light diesel oil that was used until recently.
The declining air quality index across the country has, however, is forcing India to take strict measures to reduce air pollutants.
India has an option to switch back to pulverized coal or light diesel oil that are cleaner fuels compared to pet coke or FO, but it will have a higher price and bear additional costs of installing the required pollution control equipment and strictly monitored for compliance.
A rapid switch to cleaner fuels like natural gas is one of the options too, however, it will include initial costs of conversion to change the burner to natural gas and also to get the pipeline infrastructure inside the plant.
Also Read: NITI Aayog favours ‘National Council for Electric Mobility’ for e-vehicle push
The government's push towards electric vehicles in the country encourages a much cleaner source of energy. India is moving forward in the same direction by acquiring electric busses, promoting manufacturing of e-vehicles and their use.
The report suggests that switch to electricity for cleaner source could be a "long-term" solution.
|Is WTI Crude Oil Outdoing Brent? |Market Realist |Bureau |Neutral |
On November 14, the Brent-WTI spread was $6.51. Between November 14 and 21, US crude oil active futures rose 1.7% and Brent crude oil active futures rose just 0.6%.
Brent underperforming WTI crude oil
In the trailing week, Brent crude oil active futures underperformed US crude oil futures. The falling US inventories spread that we discussed in Part 3, and the OPEC meeting on November 30, could be behind this underperformance. If the outcome of the meeting fails to meet market expectations, Brent crude oil active futures could fall more than US crude oil futures.
US oil exports
In the week ended November 10, US crude oil exports were ~1.13 million barrels per day.
In 2017 to date, US crude oil exports are up by 0.4 million barrels per day versus the same period last year. Over that period, the Brent-WTI spread expanded by $1.92 on average. The widening of the spread makes US crude oil exporters more profitable.
Usually, a higher Brent-WTI spread is a positive development for US crude oil exporters. But, according to the EIA’s STEO (“Short-Term Energy Outlook”) report, the Brent-WTI spread may stay around the $6 level until 1Q18. For the last six months of 2018, the spread could stay near $4.
However, cheaper US crude oil compared to international prices causes US oil producers (XOP)(DRIP)(IEO) to earn lower revenues than their international peers. On the other hand, US refineries (CRAK) see increased profit margins because of cheaper US crude oil as their input and the higher prices of refined items are pegged to stronger Brent oil prices.
|Sushma Swaraj to hold talks with counterparts from Denmark, Greece |Indian Express |PTI |Positive |
|and Finland | | | |
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External Affairs Minister Sushma Swaraj will hold talks with her counterparts from Finland, Denmark and Greece in the next few days to further boost bilateral ties. She will hold extensive talks with Foreign Minister of Finland Timo Soini tomorrow on ways to deepen cooperation in several key areas including trade and investment. Soini arrived in New Delhi on a four-day visit.
External Affairs Ministry spokesperson Raveesh Kumar said foreign minister of Greece Nikos Kotzias will be in India from November 25 to 28 and Swaraj will hold talks with him on November 27. Danish Foreign Minister Anders Samuelsen will be paying a visit to India from November 26 to 29. Swaraj will also hold extensive talks with him on ways to expand bilateral ties, said Kumar.
On French President Emmanuel Macron’s visit, Kumar said it will take place early next year. “It has been rescheduled for early 2018.”
Asked about the upcoming visit of Pope Francis to Bangladesh and Myanmar and whether the government sent him any invite to include India in the visit, Kumar did not give a direct reply but indicated about a scheduling issue. He said a proper mechanism has to be followed to “finalise any VVIP visit” which includes finalisation of mutually convenient dates to both the sides. “India’s link to Christianity is 2,000 years old,” he said.
Asked about the Global Entrepreneurship Summit being hosted by India along with the US in Hyderabad from November 28 to 30, Kumar said it will present a unique opportunity to forge meaningful partnerships among entrepreneurs, investors and supporters of start-up ecosystems. US President Donald Trump’s daughter and adviser Ivanka Trump is attending the summit. Asked about her schedule in Hyderabad, Kumar said it is being finalised.
|Sushma Swaraj to attend SCO summit in Russia: MEA |Hindustan Times |Bureau |Positive |
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External affairs minister Sushma Swaraj will be representing India in the Shanghai Cooperation Organisation (SCO) summit in Russia’s Sochi on November 30 and December 1.
“Sushma Swaraj will be representing India at the SCO summit in Russia’s Sochi on November 30 and December 1. She will arrive there on November 29 and Swaraj will have bilateral meetings on November 30,” MEA spokesperson Raveesh Kumar said during a media briefing.
She will also attend the reception hosted by Russian Prime Minister Dmitry Medvedev, he added.
He further said on Swaraj will attend the restricted meeting of the heads of delegations on December 1, which will be followed by the preliminary sessions.
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“On the same evening the external affairs minister will again attend a reception hosted by the Russian Prime Minister for all members of the delegations. She would depart from Sochi on December 2 and will reach Delhi on the same day,” Kumar said.
He further said Swaraj and her Chinese and Russian counterparts will meet in Delhi on December 11 and added the programme for the meeting is still being worked upon.
“India joined as the full-fledged member of the SCO in June this year. We attach a special significance to the organization in promoting political, economic and people to people interaction in the region,” the MEA spokesperson added.
Earlier in June, Prime Minister Narendra Modi addressed the 17th Shanghai Cooperation Organisation (SCO) Summit held in Kazakhstan capital Astana.
|Delhi High Court to continue hearing Arun Jaitley defamation case |New Indian Express |ANI |Neutral |
The Delhi High Court will continue hearing the civil defamation case filed by Finance Minister Arun Jaitley against Delhi Chief Minister Arvind Kejriwal and other Aam Aadmi Party (AAP) leaders, today.
Jaitley had filed a civil defamation suit against Kejriwal and five other AAP leaders, including Ashutosh, Kumar Vishwas, Sanjay Singh, Raghav Chaddha and Deepak Bajpai.
The AAP leaders had accused Jaitley of corruption during the latter’s tenure as the president of Delhi and District Cricket Association (DDCA).
In his complaint, Jaitley accused Kejriwal and others of defaming and sought Rs 10 crore as damages.
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Jaitley was president of the DDCA, from 2000 to 2013.
|No proposal to withdraw cheque book facility: Arun Jaitley |Indian Express |PTI |Positive |
Post demonetisation, the government has been pushing digital transaction with an aim to move towards less cash society. The ministry emphasised that while the government is committed to transform India into a less cash economy and promote digital and electronic transactions, "cheques are an integral part of the payments landscape".
The finance ministry today said there is no proposal to withdraw the bank cheque book facility, which is an integral part of the payments landscape. The clarification comes in the backdrop of reports in a certain section of media that there is a possibility that the central government may withdraw bank cheque book facility in the near future, with an intent to encourage digital transactions.
This has been denied by the government and reaffirmed that there’s no such proposal, it said in statement.
“The Government of India has reaffirmed that there is NO proposal under consideration to withdraw the bank Cheque Book facility,” the finance ministry said in a tweet.
Post demonetisation, the government has been pushing digital transaction with an aim to move towards less cash society. The ministry emphasised that while the government is committed to transform India into a less cash economy and promote digital and electronic transactions, “cheques are an integral part of the payments landscape”.
It said cheques form the backbone of trade and commerce, by being negotiable instruments, which often serve as the security for underlying trade transactions.Finance Minister Arun Jaitley, in the budget speech for 2017-18, had said that as the country moves faster on the path of digital transactions and cheque payments, “we need to ensure that the payees of dishonoured cheques are able to realise the payments”.
|BJP banks on Narendra Modi to swing Patidar votes in its favour |India Today |Poulomi Saha |Positive |
[pic]Its going to pour rallies in Gujarat come this weekend. The BJP has charted out a gameplan to carpet-bomb Saurashtra and South Gujarat regions of the state that go to polls on December 9.
The saffron party today released a detailed plan of the top faces of the Union Cabinet, including Prime Minister Narendra Modi, who will be descending on Gujarat to give the party's campaign for the first phase a last-ditch push. Its expected to be a campaign blitzkrieg.
Bharatiya Janata Party's 50 star campaigners, including Unions Minister Arun Jaitley, Sushma Swaraj, Rajnath Singh, Nitin Gadkari, Smriti Irani and Piyush Goyal will address rallies across the 89 constituencies of the state that vote on December 9. These rallies will be addressed simultaneously on November 26 and 27.
However, Prime Minister Narendra Modi's rallies across the region is expected to steal the show. Starting his campaign on November 27 from Bhuj, the Prime Minister will address 15 rallies and inaugurate a hospital in Ahmedabad over 4 days - November 26, 27 and December 3, 4. Each day the Prime Minister is expected to address 4 rallies.
This leg of the campaign is going to be extremely crucial for the BJP because the Saurashtra region, that covers roughly 60 of the 89 seats that go to polls in the first phase, is considered to be a Patidar stronghold.
Patidars have been known to be BJP supporters but since the rise of the Patidar agitation led by 24-year-old Hardik Patel's Patidar Anamat Aandolan Samiti (PAAS) in 2015, that support base has eroded slowly.
The death knell to this erstwhile association was sounded yesterday when Hardik announced that he has accepted the Congress' formula to provide reservation for Patidars in jobs and educational institutions, if voted to power.
Hardik said Congress assured they would introduce a bill in the Gujarat assembly to that effect and it would not disturb the current 49% reservation for SCs, STs and OBCs in Gujarat. How that would not overrule the Supreme Court's cap on reservations at 50% is not known.
Patidars account for roughly 12% of the population of Gujarat and BJP banked heavily on their support in previous elections. Saurashtra had favoured BJP strongly in 2012 when the party got 37 of the 58 seats in the region while Congress scooped up 16.
This latest arrangement between the Congress and PAAS could be the Prime Minister's target as he embarks on his campaign blitzkrieg ahead of December 9. The Congress Vice-President Rahul Gandhi has already canvassed around the region as part of his Navsarjan Yatra. But the BJP is optimistic that launching their biggest star in the final lap will erase away all the legwork that Rahul has put in.
The BJP has also significantly given several Patidar leaders tickets in the 134 seats where they have declared candidate names for so far. Contrary to popular speculation, the party has also repeated several sitting MLAs, including seniormost Patidar face in the party, state Deputy Chief Minister Nitin Patel. Congress rebel MLAs who defected to the party from the Congress at the time of Ahmed Patel's re-election to the Rajya Sabha, have also been accommodated.
It remains to be seen how this strategy coupled with the Prime Minister's popularity can dent any anti-incumbency wave that may have been created in the last year due to demonetisation and GST. Its the party's 22 year-old reign that is at stake, and the BJP is looking hopefully towards Prime Minister Modi.
|Gujarat elections: Narendra Modi to kick off BJP’s poll campaign on 27 Nov |The Mint |PTI |Positive |
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Prime Minister Narendra Modi will address eight rallies on 27 and 29 November in different parts of Saurashtra and South Gujarat, where polling for the first phase of Gujarat elections will be held on 9 December.
Modi will start his Gujarat election campaign with a rally in Bhuj on 27 November, followed by public meetings in Jasdan town of Rajkot, Dhari in Amreli and Kamrej in Surat district on the same day, Gujarat BJP incharge Bhupender Yadav said in Ahmedabad on Thursday. On 29 November, Modi will address election rallies in Morbi and Prachi villages near Somnath, Palitana in Bhavnagar and Navsari in South Gujarat. “Each rally has been organized in such a way that people from 5-6 surrounding constituencies can also attend it,” said Yadav.
On 26 and 27 November, several prominent BJP leaders will address rallies in different parts of Gujarat where the first phase of polling is scheduled to be held. Star campaigners include union ministers Rajnath Singh, Nitin Gadkari, Arun Jaitley and Sushma Swaraj, chief ministers of BJP-ruled states—Yogi Adityanath and Vasundhara Raje—as well as several Gujarat BJP leaders, said Yadav.
The Gujarat elections are being held in two phases, on 9 December and 14 December, and results will be declared on 18 December. While 89 seats of Saurashtra and South Gujarat region will go to polls in the first phase, the election in the remaining 93 constituencies in central and northern regions will be held in the second phase.
|Parliament is being delegitimised in the popular imagination, writes |Hindustan Times |Rajdeep Sardesai |Positive |
|Rajdeep Sardesai | | | |
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In the winter of 1994 when I first moved to Delhi from Mumbai, the chance to cover Parliament was a major attraction. Entering Central Hall and gazing at the portraits of our founding fathers was motivating. Listening to speakers like George Fernandes, Atal Bihari Vajpayee and Somnath Chatterjee enthused me. This was, after all, the crucible of Indian democracy. Almost a quarter of a century later, I am pained to report that every romantic illusion one had woven around Parliament has been dashed. With the winter session of Parliament pushed back till the Gujarat elections are over, the message is clear: A single state election matters more now than a ‘national’ Parliament (that the new dates being bang in the middle of Christmas will inconvenience Christian MPs also doesn’t seem to matter).
At one level, the government’s argument for deferring the winter session is understandable. With the high stakes in Gujarat – the prime minister’s home state – intense campaigning by major national leaders has left little time for Parliament. Besides, there have been instances in the past – most notably as recently as 2013 – when the winter session was curtailed because of assembly elections by the previous UPA government.
The difference is that Manmohan Singh was not expected to criss-cross the country seeking votes. That was his weakness but also, in a sense, insulated his government from the constant pressures of elections. By contrast, Narendra Modi is the ultimate 24 x 7 election campaigner, someone who revels in the akhara of electoral politics. His unmatched status as the star campaigner for the ruling BJP means that almost every election has become a mini-referendum on Prime Minister Modi’s appeal. As a result, electoral success is now almost a driving force for the government, the oxygen that sustains the Modi juggernaut. Is it any surprise then that the governance agenda, including potential legislative business in Parliament, must be kept on hold during election time?
In fact, the downgrading of Parliament is almost a throwback to Modi’s tenure as Gujarat chief minister where once again assembly sessions in Gandhinagar were often a perfunctory exercise. In the 12 years that Modi was chief minister, assembly sessions were almost routinely cut short, with opposition MLAs being suspended en masse on several occasions for ‘disruptive’ behaviour.
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Modi preferred to run the state from the chief minister’s secretariat while using his party’s overwhelming majority in the assembly to set the terms of engagement with his opponents.
Ironically, just before entering Central Hall for the first time in 2014 as prime minister, Modi had staged a dramatic photo-op: He had knelt on the floor of Parliament and spoken of his reverence for the ‘temple’ of democracy. Now, his frequent absences from Parliament during crucial debates have led the Opposition to claim that, unlike a Vajpayee, Modi has little time for the cut and thrust of parliamentary interaction. In the Modi rulebook, it is so much easier to directly communicate with the voter through a tightly controlled, one-way ‘Man Ki Baat’ rather than be held accountable by his political opponents in Parliament.
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It isn’t as if the Opposition has a credible track record in parliamentary interventions either. Rahul Gandhi’s refusal to become the leader of the Congress in the Lok Sabha in May 2014 was perhaps indicative of his own lack of confidence in his public speaking skills. His attendance record in Parliament in the first three years of the Modi government is 54%, well below the average lawmaker who attends around 80% of the sittings. Ahead of the 2017 monsoon session, Rahul Gandhi had participated in just 11 debates in three years. It’s a record that can hardly enthuse an Opposition still to recover from its 2014 electoral drubbing.
But the crisis of Parliament goes well beyond its principal players. Truth is, a majority of MPs have been elected for considerations other than their speech-making abilities. The extreme ‘localisation’ of elections has meant that local community networks influence the ‘winnability’ quotient much more than oratory skills. Where once parliamentarians were lauded for their stirring speeches, now it is their disruptive powers that attract instant attention. The frequent adjournments in particular have meant that the institution of Parliament is being gradually delegitimised in popular imagination.
Which is also why the government will probably get away with its decision not to face Parliament till the election cycle is over. After all, when an all-powerful executive is now taking every decision, who needs the pesky distraction of an unruly legislature?
Post-script: It isn’t just Modi who will be on a Gujarat blitzkrieg for the next few weeks. Practically, every government minister is hitting the campaign trail and making a multitude of promises to the electorate. As the internet joke goes, GST at least temporarily stands for Gujarat Service Tax.
|Balance can be struck between privacy and national security: PM Modi |Times of India |Bureau |Positive |
In the midst of a contentious debate over privacy and the government's efforts to promote digitisation through Aadhaar, Prime Minister Narendra Modiexpressed confidence that a fine balance could be struck between openness and national security. "Surely, we can walk the fine balance between privacy and openness on one hand and national security on the other," Modi said in his address at the Global Conference on Cyberspace on Thursday.
The PM also called for closer cooperation to prevent terrorists and radical ideologies from exploiting cyberspace. "Nations should also take responsibility to ensure digital space does not become a playground for the dark forces of terrorism and radicalisation. Information sharing and coordination among security agencies is essential to counter the ever-changing threat landscape," he said. While he framed his remarks in a global context, they have a bearing on the legal challenges to the government's ambitious plans to make digitisation key to a variety of programmes. "Together, we can overcome the differences between a global and open system on the one hand and nation-specific legal environment on the other," the PM said to an audience that included delegates from industry, civil society and government.
Explaining why digitisation was so central to his vision of governance and financial inclusion, Modi said advances in cyberspace and faster connectivity were making the world a flatter place, allowing less developed nations to emerge on a par with the more developed ones. Modi said on the last Wednesday of every month, he held a meeting of Union and state government officials for a 'Pragati' session that took stock of schemes and looked at issues that involved coordination between the Centre and states. "Technology breaks silos. Sitting in our respective offices, (and) aided by the cyber world, we discuss and resolve important governance issues," he said.
Pragati has resulted in faster decision-making through consensus, the PM said. "Cyberspace technology must remain enablers for the common man and the people. The quest for an open and accessible internet often leads to vulnerability. Stories of hacking and disruption of websites is the tip of the iceberg," he said.
Modi said it had to be ensured that vulnerable sections of society did not fall prey to the evil designs of cyber criminals and a key focus area for the government would be to train professionals to tackle cyber attacks. Cyber protection must become a reliable career option for the youth, he added. Fifty incidents of cyber attacks affecting 19 financial organisations were reported from 2016 till June 2017.
Launching the Umang (Unified Mobile Application for New-age Governance) mobile app, Modi said, "The app will provide over 1,000 citizen-centric services. It will automatically add pressure among peers and result in better performance." Using the app, citizens will be able to access EPFO services, apply for a new PAN, register themselves under the PM Kaushal Vikas Yojana among others.
Sri Lankan PM Ranil Wickremesinghe, who was present at the event, said there was no legal framework on cyberspace and he hoped the conference led to a consensus on the terms of the framework. "Our government has a lot more to do in net neutrality but we have taken progressive and revolutionary steps in this regard," he said.
|PM Modi calls on nations to make cyber space safer |Hindustan Times |Bureau |Positive |
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Prime Minister Narendra Modi on Thursday said that the nation should ensure that the digital space does not become a playground of dark forces. He also called for building cyber warriors who will remain alert for miscreants targeting the digital space.
“Cyber attacks are significant threat to the global community. We need to ensure that the vulnerable section of the society does not fall prey to it,” Modi said while addressing at the inaugural session of the fifth edition of the Global Conference on Cyber Space (GCCS) in Delhi.
The theme of the two-day GCCS conference is Cyber4All: A Secure and Inclusive Cyberspace for Sustainable Development.
Saying that internet has provided ‘ease of living’ to Indians, Modi added: “Empowerment through digital access is an objective that the Indian government is focused on. We believe in mobile power or M-power to empower our citizens.”
The Prime Minister said financial inclusion through Jan Dhan Yojna, unique identification through Aadhaar and mobile phones have helped to reduce corruption and bring in transparency in the country.
Modi called for “cyber warriors” to come forward to deal with challenges.
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He listed Jan Dhan Bank accounts, Aadhaar and mobile phones as three factors (as JAM trinity) that helped the government to better its subsidies delivery and plugging leaks to the tune of around $10 billion so far.
The first edition of GCCS was held in London in 2011 and since then it has travelled to Budapest (2012), Seoul (2013) and the Hague (2015).
Sri Lankan Prime Minister Ranil Wickremesinghe in his address to the inaugural ceremony batted for net neutrality in order to ensure a robust and transparent internet with access for all.
“My govt is determined to ensure a fair internet regime,” said that Sri Lankan PM, adding that he was also against forced or state-ordered shutdown of internet.
Regarding India’s IT talent pool, Modi said: “Indian IT talent has been recognised worldwide. Indian IT companies have made name for themselves. Women form significant part of IT workforce and the IT sector contributed to gender empowerment.”
|PM Narendra Modi inaugurates Global Conference on Cyberspace 2017, launches|Financial Express |Bureau |Positive |
|Umang app | | | |
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Prime Minister Narendra Modi on Thursday inaugurated the fifth edition of the Global Conference on Cyberspace in New Delhi. During the inauguration of the conference, PM Modi talked about the Digital technology. He said that the technology has emerged as a great enabler. The conference on cyberspace is a two-day event. This event will witness the participation of numerous ministers, industry leaders and academic personalities to engage and talk about the global cyber ecosystem.
“Digital technologies are helping businesses and economies grow,” Narendra Modi said during his speech. He talked about the JAM trinity, which is an acronym of Jan Dhan, Aadhaar and Mobile. He said, “JAM has helped in plugging leakages in subsidies transfer worth 10 billion dollars.”
The Ministry of Electronics and IT had said various activities and events during the GCCS 2017 (Global Conference on Cyber Space) will expound on how cyberspace is transforming our lives, how we live, govern and create value. This year’s theme is Cyber4All. There are four sub-themes also — Cyber4InclusiveGrowth, Cyber4Digitalinclusion, Cyber4Security and Cyber4Diplomacy.
During the event, PM Modi also launched the UMANG app. The Umang App is a one-stop mobile application that provides integration with popular customer centric services like Aadhaar and Digilocker.
PM Modi also said, “We are using mobile power or M-power to empower our citizens. We are using the digital domain to facilitate participative governance or Jan Bhagidari. It is our firm belief that there are millions of Indians, whose transformative ideas can go a long way in taking India to new heights.”
“We need to ensure that vulnerable sections of our society do not fall prey to the evil designs of cybercriminals. Alertness towards cyber-security concerns should become a way of life,” said PM Narendra Modi asking people to beware and be alert to the cybercriminals.
While speaking on the various Social media platforms, PM Modi said that these tools and platforms are making cyber-space participative for all. He said, “News that experts tell us from studios is now supplemented by experiences highlighted on social media. This transition, to a blend of expertise and experience, is the contribution of the cyber world.”
On the ever-growing conference on cyberspace, PM Modi said, “GCCS 2017 is one of the biggest cyberspace conferences in the world.”
|Cyberattacks a significant threat to democracy: Modi |The Mint |Komal Gupta |Positive |
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Prime Minister Narendra Modi on Thursday said creating a safe and secure cyberspace is on the primary agenda of the government as cyberattacks were a threat to democracy.
Modi’s assurance of decisively dealing with cyberattacks comes at a time when policymakers are making an unprecedented push to popularize digital transactions and cut down use of cash in order to have a more transparent and accountable economic environment. The government is at present working on a draft policy for tackling ransomware, a malicious software.
“We have to ensure that cyberspace does not become a playground for dark horses of radicalism,” Modi said, while inaugurating the fifth Global Conference on Cyber Space (GCCS) in the national capital.
A total of 50 incidents of cyberattacks affecting 19 financial organizations were reported from 2016 until June 2017, PTI reported in August.
With multiple cyberattacks affecting key infrastructure assets like ports and major payment companies recently, the government has decided to come out with a draft policy for tackling ransomware, a senior government official told Mint during the conference. “CERT-In (The Indian Computer Emergency Response Team) is working on a draft policy for tackling ransomware which will be put up for consultation by various stakeholders, including organized enterprise users of IT (Information Technology), solution providers and internet service providers (ISPs),” Ajay Kumar, additional secretary in the ministry of electronics and information technology said.
Kumar said the draft policy will focus on the proprietary steps the country will take in case of a ransomware attack. This will include the steps for the sharing of information to try and restrict the loss as much as possible. A centre of excellence will be set up to find solutions to attacks or neutralise the malware, he added.
The need to set up a safe and secure cyberspace is one the major concerns of the government as it is moving to create a ‘less-cash’ economy. Earlier this year, the government announced the “DigiDhan Mission” to achieve a 25 billion digital transactions target, outlined in the Union budget for this fiscal.
Modi said empowerment through digital access is the aim of the government and digital technology has saved around $10 billion so far by eliminating middlemen.
The MyGov platform is a prime example of how technology strengthens offices. PRAGATI has resulted in faster governance decisions through general consensus, he added.
PRAGATI (Pro-Active Governance And Timely Implementation) is an interactive platform aimed at addressing the common man’s grievances and monitoring and reviewing programmes and projects of the central and state governments.
Umang stands for Unified Mobile Application for New-age Governance. It provides all pan India e-Gov services ranging from central to local government bodies and other citizen-centric services like Aadhaar and Digilocker on one single platform or mobile app.
Modi said “the app will provide over thousand citizen-centric services. It will automatically add pressure among peers and result in a better performance.”
Law and IT minister Ravi Shankar Prasad, speaking at the event, said privacy of individuals was of utmost importance but “privacy cannot withhold innovation.” He further said the citizens’ right of accessing the internet is “non-negotiable” and the government will not allow any company to restrict people’s entry to the worldwide web.
Speaking on Facebook’s Free Basics programme, Prasad said the government did not allow social networking giant’s programme because it offered access to select internet services. Facebook had introduced its Free Basics programme in India in 2015 to offer free basic internet access to people in partnership with telecom operators. Prasad said the idea behind Free Basics was that everything will be free, namely eduction, health, entertainment and others, if one enters the Net through one gate (Facebook’s).
“I said India is a democracy, we don’t believe in one gate. We believe in multiple gates. Therefore, this gate locking for India will not be accepted and I did not allow it. This stems (from) our commitment that internet must be accessible to all,” he added.
Sri Lankan Prime Minister Ranil Wickremesinghe, who was present at the event, said there was no legal framework on cyberspace and he hoped the conference would lead to a consensus to finalize the terms of the framework. “Our government has a lot more to do in net neutrality but we have taken progressive and revolutionary step in this regard,” added Wickremesinghe.
Wickremesinghe is on a four-day visit to India with the aim of boosting bilateral ties.
On the first day of the conference, India agreed to establish a joint working group with Iran to work in different IT areas.
India will provide technical advice to Mauritius for setting up the digilocker infrastructure. An MoU has been signed with Denmark for future cooperation in the IT sector.
“While a policy on ransomware is welcome, there is much more to be done. Implementation of the 2014 National Cybersecurity Policy has been very slow. Even the simplest bits, such as a secure process for receiving vulnerability disclosure has been lacking,” said Pranesh Prakash, policy director at the Centre for Internet and Society, a Bengaluru-based think tank.
|Better subsidy targeting via technology saved $10 bn: PM Narendra Modi |Money Control |PTI |Positive |
Prime Minister Narendra Modi today said direct transfer of government benefits using technology, bank accounts and biometric identifier Aadhaar has helped save USD 10 billion in subsidies.
Addressing the Global Conference on Cyber Space here, he said technology breaks barriers and has led to efficient service delivery, governance and improved access to education and health.
The government, he asserted, is committed to empowerment through digital access.
Use of JAM trinity of Jan Dhan accounts, mobile numbers and Aadhaar has helped save USD 10 billion in subsidies by plugging leakages, the Prime Minister added.
Modi termed cyber attacks as a significant threat, saying digital space should not be allowed to be used for terrorism.
The Prime Minister was equally emphatic that nations must take responsibility to ensure that the digital space does not become playground for terrorism and radicalisation.
India, he said, is keen to find innovative and scalable solutions in education and healthcare using digital technology.
|Narendra Modi launches all-in-one UMANG app at Global Conference on |First Post |Bureau |Positive |
|Cyberspace: Here's what it can do for you | | | |
Indian Prime Minister Narendra Modi has launched a unified platform app for digital access to various government services. UMANG (Unified Mobile Application for New-age Governance) app was launched at the fifth edition of the Global Conference on Cyberspace on 23 November in New Delhi. The app is available for both platforms Google Play Store and Apple Store for free.
UMANG app logo. Google Play store
The app is focused on making e-governance 'mobile first' in India and includes access to various e-services provided by the different levels of government across the country. The services provided by Central, State, local bodies, and agencies of the government on platforms including app, web, SMS, and IVR channels have been included in the app.
Few of the features of the app are integration with Digital India services such as Aadhaar, DigiLocker, and PayGov.
According to the description provided on the Google Play Store, any new service will automatically be included in the app. The app also allows the users to discover, download, access and use all government services easily in one place all from the comfort of you mobile phone.
The data taken from the app is saved in encrypted format. Popular services available on the app are My Pan for queries related to PAN, NPS (National Pension System), PMKVY ( Pradhan Mantri Kaushal Vikas Yojna), AICTE, CBSE, Passport Seva and more.
The home page of the app displays your recently viewed services, new services and the recently updated services as well. There's also a trending services section and top rated services along with suggested services. The UMANG app has three sections on the top that includes Home, Favorite (shows marked favorite services), All Services (further includes Central and State section) and a list of States to choose from, for the services provided by a particular state. The notification and help tabs lie on the top right of the Home page of the app.
Top left app has a three bar button that takes the user to another section that includes Profile setting, Service Dictionary, Transaction History , DigiLocker and Settings of the app. A new user can register on the app be entering his/her mobile number or linking the app with their Aadhaar details.
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