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PM Modi opens IEF16, calls for responsible oil, gas pricing

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New Delhi, April 11: Noting that India will be a key driver of global energy demand in the next quarter century, Prime Minister Narendra Modi on Wednesday called for “responsible” pricing in the hydrocarbons market so as to balance the interests of oil and gas producers and consumers.

Inaugurating the 16th International Energy Forum (IEF) ministerial here, being held in India after a gap of 22 years, Modi said that a massive transformation has been underway in the energy market with consumption growth shifting from the developed world to the emerging and developing economies.

“The world has seen prices on a roller coaster for much too long. We need responsible prices to balance the interests of both producer and consumer,” Modi said.

The Prime Minister said energy demand in India is projected to grow at 4.5 per cent in the next 25 years, while gas demand was expected to triple.

“We need a transparent and flexible market…there has to be a mutually supportive relationship between producers and consumers. Efforts at artificially distorting prices are self-defeating as history has shown us,” he said.

“Let us build a global consensus on responsible pricing which will serve both producer and consumer. In a period of global uncertainty, India needs energy security,” Modi added.

He pointed to the transformation in the energy market with the Shale Revolution in the US that would soon make America the largest oil producer, the move by oil companies to invest more in renewables and the use of technology like the “internet of things (IoTs), artificial intelligence, robotic process, automation, machine learning and 3D printing” by the industry.

In view of these changes, “India provides a perfect setting for discussing the future of the energy section”, Modi said.

Hosted by India, and co-hosted by China and Korea, IEF16 aims to focus on how global shifts, transition policies and new technologies influence market stability and future investment in the energy sector around the theme of “The Future of Energy Security”.

Among ministers from overseas attending the meeting this year are those from Saudi Arabia, the UAE, Iran, Qatar, Nigeria, Japan, China, Russia and the US.

Saudi Arabian Petroleum Minister Khalid Al-Falih in his address called for creating “an enabling environment along the entire value chain” as fossil fuels “will be there for some time to come”.

Noting that the future supply situation of energy sources, particularly of oil, is “not reasssuring”, he said the producers in the Organisation of Petroleum Exporting Countries (OPEC) “remain committed to the long-term market”.

“Saudi Arabia and Russia are discussing extending the cooperation and monitoring of the market to extend stability,” he said referring to the crude output cuts agreed in 2017 between OPEC and Russia in a move to stop the slide in oil prices that had fallen to around $25 a barrel two years ago. Crude currently is averaging around $70 a barrel.

IANS

India

Tejashwi Yadav thanks people of C’garh, Rajasthan, MP for voting ‘against tyranny’

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Tejashwi Yadav
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Madhya Pradesh Live :Congress Seeks Governor’s Appointment to Stake Claim to Form Govt

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Kamalnath-Scindia

Bhopal, Dec 11 : The Congress party has sought  an appointment late tonight with the Governor to stake their claims to form the government in Madhya Pradesh. The party has sought appointment by sending an email and a fax too.

Governor House issued a statement , ” An appointment will be given only after the situation is made clear by the Election Commission.”

The Congress led by Kamal Nath and Jyotiraditya Scindia is fighting it out with the BJP to grab number one position in the state. The Congress, in fact, has already established contact with smaller parties to secure alliance in a bid to form govt.According to sources, the Bahujan Samaj Party and the Samajwadi Party have agreed to support the Congress to form a government in Madhya Pradesh.

Congress party will go to the Governor House as soon as they win 116 seats in the state. The party has won 69 seats and is leading on 44 seats

Congress party is leading with 114 seats, BJP has 108 seats while BSP has 2 and still waiting for the final result.

“Congratulations to the Congress for their victories. Congratulations to KCR Garu for the thumping win in Telangana and to the Mizo National Front (MNF) for their impressive victory in Mizoram, Pm Modi said.

“We accept the people’s mandate with humility. I thank the people of Chhattisgarh, Madhya Pradesh & Rajasthan for giving us the opportunity to serve these states. BJP Governments in these states worked tirelessly for the welfare of the people, PM Modi said.

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Bhima-Koregaon case: SC to examine charge-sheet against 5 accused in January

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New Delhi, Dec 11 : The Supreme Court will examine in January the charge-sheet filed by Maharashtra Police against five alleged urban Naxals accused in the Bhima-Koregaon case and for having links with the outlawed CPI (Maoist).

The Bench headed by Chief Justice Ranjan Gogoi directed the hearing in January as senior counsel Indira Jaising appearing for the accused said that she needed time to go through the bulky charge-sheet running into more than 5,000 pages.

The Maharashtra Police had last week filed a charge-sheet running into 17 volumes against the five accused – Surendra Pundlik Gadling, Sudhir Pralhad Dhawale, Rona Jacob Wilson, Dr. Soma Sen and Mahesh Sitaram.

Along with the charge-sheet in Marathi running into more than 5,000 pages, the Maharashtra Police has also filed copies of the charge-sheet translated into English.

As senior counsel Mukul Rohatgi informed the court that the copies of the charge-sheet along with their translations have been filed, senior counsel Jaising said that she needed time to go through them.

The apex court in the last hearing on December 3 had directed the Maharashtra Police to place before it the charge-sheet filed against the accused along with the translated copy and a gist of the allegations made therein.

The court had directed that the particulars of another case filed against Gadling along with the complaint/FIR, as may be the case, be also filed.

The matter relates to the alleged singing of “objectionable songs” and instigating comments, speeches and sloganeering at the Elgar Conference by Dhawale and others at the Bhima-Koregaon Shouryadin Prerna Abhiyan organised by the Kabir Kala Manch on December 31, 2017.

Accusing the five activists of their links with the CPI (Maoist), the Maharashtra government has alleged that they mislead backward people and ingrained radical Maoist thoughts in their minds.

As part of their propoganda, the members of the Kabir Kala Manch — Sudhir, Dhavale and others — are known for their instigating speeches at various places in Maharashtra which would “create enmity and violence in the society”, says the Maharashtra police.

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