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India offers $11 billion to develop Iranian gas field

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India offers $11 billion to develop Iranian gas field

[vc_row][vc_column][vc_column_text]ONGC to lead the consortium

With lifting of UN sanctions  following Iran’s compliance with conditions stipulated for its nuclear deal with six world powers, India has expressed its willingness to spend 11 billion dollars to develop giant Iranian natural gas field and build infrastructure to export fuel as long as Tehran guarantees “reasonable return”.

According to Bloomberg, ONGC Videsh Ltd has offered to invest as much as six billion dollars on the Farzad-B field and spend remaining amount to build liquefied natural gas (LNG) export facility.

Narendra Kumar, Managing Director of the overseas investment unit of ONGC shared this information. The group is seeking a return of about 18 percent and Indian companies are willing to buy all the gas exported from the project. He was quoted as saying, “We have told the Iranian authorities very clearly that some basic returns are necessary.”

India is presently the fourth largest LNG buyer and seeks to sign a long-term deal to meet the growing demand. It found an opportunity in Iran, now emerging out of its isolation with gradual lifting of UN sanctions after signing of nuclear deal. The two countries were supposed to conclude a deal in February this year for developing the gas field which India believes holds 19 trillion cubic feet of gas reserves. India has been trying to secure development rights to the Farzad-B gas field since 2009.

ONGC Videsh and Indian Oil each own 40 percent interest in the Farsi block that holds Farzad-B field, while Oil India has 20 percent share.

Prime Minister Narendra Modi, during his Tehran visit in May last year, had signed a historic deal with Iranian President Hassan Rouhani and Afghan President Ashraf Ghani to develop the strategic Iranian port of Chabahar. This will directly connect India to Afghanistan and reach to Central Asian countries and Europe through north-south business corridor.

India-Iran bilateral trade during the fiscal 2014-15 was 13.3 billion dollars. India imported 8.89 billion dollars worth of goods mainly crude oil and exported commodities worth 4.17 billion dollars.[/vc_column_text][/vc_column][/vc_row]

2024 Lok Sabha Elections

Arvind Kejriwal says BJP started Operation Jhaadu to crush AAP

The Delhi chief minister alleged BJP has started Operation Jhaadu so that they do not grow big and become a challenge to them

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Arvind Kejriwal says BJP started Operation Jhaadu to crush AAP

Delhi chief minister Arvind Kejriwal on Sunday alleged BJP has started Operation Jhaadu to crush the Aam Aadmi Party since its popularity among the people is rising too fast. Kejriwal was addressing Aam Aadmi Party workers at the party office in New Delhi where he claimed the AAP’s bank accounts would be frozen after elections and they will be brought on the roads and left without an office.

The Delhi chief minister alleged BJP has started Operation Jhaadu so that they do not grow big and become a challenge to them.  He further added that through Operation Jhaadu, AAP’s big leaders will be arrested; they are being arrested, and in the coming days, Aam Aadmi Party’s bank accounts will be frozen.

Kejriwal pointed out that ED’s lawyer has already given this statement in court that soon after the election, AAP’s bank accounts will be frozen. He said that if they freeze their accounts now, then AAP will get sympathy. As a result after the election, ED will freeze AAP’s bank accounts. He said AAP’s party office will be cleared out, and the party will be brought to the streets.  Kejriwal said these are the 3 plans made by the BJP.

The Delhi chief minister claimed that no gold or money has been recovered from him, and the BJP, by creating false cases has got AAP leaders arrested. Kejriwal recalled that since the time he came to power in 2015, many allegations had been against him by the BJP. He said after the liquor policy scam has happened people are asking them if the scam happened then where is the money. He pointed out that in other places, when raids happen, notes and gold are recovered, but here nothing was found. Kejriwal asked the people that where is all the money? He said BJP had made fake cases and arrested AAP leaders.

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2024 Lok Sabha Elections

PM Modi says Congress is the mother of corruption, party was involved in coal and 2G scams

PM Modi said, Congress and JMM know nothing about development and their only job is to speak lies, loudly, again and again, and everywhere, their only objective is to do an the X-ray of poor people’s wealth and steal it.

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PM Modi says Congress is the mother of corruption, party was involved in coal and 2G scams

Prime Minister Narendra Modi addressed an election rally in Jharkhand’s Jamshedpur on Sunday (May 19) amid the ongoing Lok Sabha Elections 2024.  While addressing the election rally in Jamshedpur PM Modi said, people’s excitement told him what result will come on June 4 in Jamshedpur.

He recalled the time when he used to work as a BJP party worker for many years and used to ask people at that time they would come at 10 or 11 am to attend an election rally. But today he was witnessing a huge crowd here. The prime minister thanked all of them and said Lok Sabha election decides and strengthens the future of the country.

During a public rally in Jamshedpur, PM Modi said, Congress and JMM know nothing about development and their only job is to speak lies, loudly, again and again, and everywhere, their only objective is to do an the X-ray of poor people’s wealth and steal it. He further accused the Congress and JMM of snatching the reservation of SC and ST and the party leaders of the two parties are continuously abusing Modi every day. He asked if they are not able to think beyond this? He said the whole country has realised their truth.

PM Modi said, Congress and their ally parties, wherever they have governments, he challenged those chief ministers and this is not his political statement. The prime minister said Congress’s Shehzada keeps opposing business industries, businessmen and investments.

 PM Modi asked which businessman will go and invest in those states? What will happen to the youths of those states?  He said all investors who come to him and say that they would not go to these states because of their ideology against them. He said businessmen are verbally abused there and investors are forced to think that since Shehzada has this kind of thoughts, his ally parties would have the same thoughts as well. PM Modi added Congress is the mother of corruption and party was involved in coal and 2G scams as well

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2024 Lok Sabha Elections

Rahul Gandhi says Kejriwal will vote for Congress and he will vote for AAP

Gandhi said that if the prime minister comes in front of him, he would ask him questions about crony capitalism, unemployment, inflation, and farm issues.

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Rahul Gandhi says Kejriwal will vote for Congress, and he will vote for AAP

Congress leader Rahul Gandhi was addressing an election rally on Saturday where he said that Arvind Kejriwal will vote for a Congress candidate and that he will vote for an AAP candidate in Delhi in the ongoing Lok Sabha elections as a mark of strong bond between the two allies.

He further added workers of Congress and of AAP to work together to ensure the victory of their alliance in all 7 Lok Sabha seats in the national capital. In his address, Gandhi also challenged Prime Minister Narendra Modi for a debate concerning the issues of India. The Congress leader said he is ready to debate with PM Modi whenever and wherever he wants, but he was confident that PM Modi would not come.

Notably, former Supreme Court judges Madan B Lokur and Ajit P Shah and senior journalist N Ram had written to Gandhi and PM Modi recently and invited them to a platform for a debate on the key Lok Sabha election issues. Gandhi said that if the prime minister comes in front of him, he would ask him questions about crony capitalism, unemployment, inflation, and farm issues.

The Wayanad MP said in his address that PM Modi has only worked for 22-25 people. He asked small businessmen from Chandni Chowk, what PM Modi had done for them? He said demonetization, GST, and other taxes had impacted small businessmen. He said billions of rupees of Adani and Ambani had been waived off. Gandhi said BJP is privatising railways and other PSUs as well.

The former Congress president questioned the prime minister about introducing the now-scrapped electoral bond scheme and further accused him of extorting money with the help of central agencies such as the Enforcement Directorate (ED). Gandhi reffered to Delhi as the Brotherhood Capital and said that if people work together with love, there is progress.

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