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India offers $11 billion to develop Iranian gas field



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]

India News

Supreme Court asks Centre and RBI to produce records related to demonetisation, reserves verdict

Senior Advocate P Chidambaram opened the arguments and said that the Court should lay down the law for the future, so that similar misadventures are not repeated by the future governments.



Supreme Court

The Supreme Court on Wednesday directed the Center and the Reserve Bank of India (RBI) to produce relevant records relating to the government’s decision to invalidate Rs 1,000 and Rs 500 notes in 2016.

While reserving its judgment on a bunch of pleas challenging the Centre’s 2016 decision, a 5-judge Constitution bench headed by Justice S A Nazeer and including Attorney General R Venkataramani, RBI counsel, senior advocates P Chidambaram and Shyam Divan heard the arguments of the counsel for the petitioners. The supreme Court of India has ordered Centre government and the Reserve Bank of India to produce records related to demonetisation.

A bench of Justices BR Gavai, AS Bopanna, V Ramasubramaniam and BV Nagarathna said that they have heard both the parties and will have their judgment reserved. They further said that counsel for the Union of India and the Reserve Bank of India are directed to place the relevant records.

Read Also: MCD election live blog: AAP dethrones BJP after 15 years, wins majority

For the unversed, a written submission has to be furnished to court by December 10. The Attorney General for India R Venkataramani said that the documents will be produce in a sealed cover. The bench observed that it can examine the manner in which the decision was taken. The top court was hearing a batch of 58 petitions challenging the note ban announced by the Centre on November 8, 2016.

On October 12, the bench agreed to hear the matter on merits, after the persuasive arguments made by Senior Advocate P Chidambaram. The bench asked the Union Government and the Reserve Bank of India to produce before it, the relevant documents and files relating to the decision.

Senior Advocate P Chidambaram was from the petitioners side who opened the arguments and said that no doubt the effects of the decision cannot be undone, Hence, the Court should lay down the law for the future, so that similar misadventures are not repeated by the future governments.

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India News

MCD election live blog: BJP loses to Kejriwal-led Aam Aadmi Party, AAP bags 134 seats

The Aam Aadmi Party has won 121 wards out of 250, whereas the BJP are lacking behind by winning 97 wards, according to India Today’s reports. .



The Aam Aadmi Party has won 134 wards out of 250, whereas the BJP are lacking behind by winning 104 wards, according to NDTV. The win by the Kejriwal led-of 134 wards marks the majority as they unseat the 15-year-long rein of the BJP in Delhi’s Civic body. The Congress Party tallied up to 9 seats whereas others won 3 wards.

Aam Aadmi Party Chief Arvind Kejriwal in his media address after the unseating the BJP, expressed gratitude to the people of Delhi and called himelf their son. Kejriwal also congratulated all the winning candidates and said that losers should not be disappointed as they all have to work together.

He further added that it is their responsibility to fix Delhi and clean the garbage. Arvind Kejriwal also said that AAP aims to clean corruption from Delhi too.

As the vote counting moved towards a conclusion, the trends ended up being in the favour of AAP as they succeeded in unseating the BJP from the MCD after 15-year-long rein. The vote counting for the MCD polls commenced on Wednesday and Arvind Kejriwal-led outfit eyed the objective to dethrone the 15-year-long incumbency of BJP in the Delhi MCD elections.

The civic body election were held on 4 December.

The vote counting for the MCD elections commenced at 8 am on Wednesday. The people of Delhi voted in the MCD elections which were held on 4 December. The Vote counting was scheduled for 7 December. The MCD election saw a neck-and-neck battle between the Saffron party and the Arwind Kejriwal-led party.

The winning list is out, checkout the full list here:

Aam Aadmi Party has registered their first win with Sarika Chaudhary taking over the Daryaganj, AAP has also won the Kapasheda, Ranjeet Nagar, AAP candidate Sultana Abad won the Jama Masjid ward. AAP Transgender candidate Bobby Kinnar has bagged Sultanpuri-A ward. AAP candidate Praveen Kumar has registered win in Madanpur Khadar East, Simmi Yadav won Sagarpur ward. Mukesh Goel won Adarsh Nagar ward, Andrews Ganj ward won by Anita Baisoya, Badarpur’s Manju Devi emerged victorious, Bawana’s AAP candidate Pawan Kumar also registered Victory. AAP’s Rafia Mahir won from Bazar Sita Ram.

Others who registered a win for AAP inlude, Ajit Singh from Bhalswa, Amrit Lal Jain from Budh Vihar, Purnadeep Singh Swahney from Chandini Chowk, Pinky Tyagi from Chattarpur, Ashu Thakur from Chhitranjan Park, Vikas Tank from Civil Lines, Tillotma Chaudhary Dabri, Kiran Bala from Delhi Gate, Neha Aggarwal from Dhirpur, Behn Preeti from Dilshad Colony, Sunita from Dwarka-C, Dr Shelly Oberoi from East Patel Nagar, Priyanka Gautam from Gharoli, Sarita Phogat from Green Park, Rakhi Yadav from Hastsal.

The AAP Candidates who won also include Neha Mishra from Holambi Kalan, Timsy Sharma from Jahangir Puri, Dimple Ahuja from Janakpuri South and several others.

BJP’s winning ward

On the other hand, BJP’s Shyam Kumar Mishra won Mohan Garden ward and reportedly, Seema Sharma has won the Seelampur ward, Ram Kishore Sharma has won from from Shakarpur ward. BJP has also bagged Rohini D, Maujpur, Laxmi Nagar Geeta Colony, Gautampuri and Lajpat Nagar ward.

BJP’s Gulab Singh Rathore has won from Mukundpur Kadipur Ward and BJP candidate Gayatri Yadav won the Samaypur Badli ward. BJP has also succeeded to win at Delhi Deputy CM Manish Sisodia’s home turf as the Renu Chaudhary has won from Paparganj Ward and several others.

Congress party winners

Ariba Khan from Abul Fazalenclave, Sheetal from Aya Nagar, Shagufta Chaudhary from Chauhan Banger, Zarif from Kabir Nagar, Mandeep Singh from Nihal Vihar, Sameer Ahmed from Shastri Park, and Nazi Danish from Zakir Nagar.

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India News

MCD election 2022: Raghav Chadha says BJP covered Delhi in garbage, will be cleaned by Arvind Kejriwal

Exit polls have also predicted AAP as the winner, however, the early trends can see a tight fight between AAP and BJP.



Raghav Chadha

The results of the Delhi MCD elections 2022 are in process and the national capital saw no clean sweep by Arvind Kejriwal’s Aam Aadmi Party as it is in a neck-and-neck fight with the Bharatiya Janata Party.

According to the latest trends, AAP is leading with 130 seats while BJP has won over 100 seats. Amid this, AAP MLA Raghav Chaddha is confident about the party winning and said Mayor will be formed from AAP.

Speaking to ANI, Chadha said BJP had covered Delhi in garbage which will be cleaned by Arvind Kejriwal’s government. He further said the people of Delhi had decided to bring AAP into MCD so that Delhi become clean and beautiful.

Read Also: Jhadoo magic wins in MCD elections

Punjab Chief Minister Bhagwant Mann hailed Kejriwal and said he has uprooted 15-year-long Congress rule in Delhi and now he will uproot the 15-year rule in MCD. Mann further said the people of Delhi don’t like politics of hatred and only vote for schools, electricity, hospitals, cleanliness, and infrastructure.

Meanwhile, Delhi BJP chief Adesh Gupta said the people of Delhi will take from Delhi CM as his party is indulged in corruption. On contrary, BJP raised issues, exposed AAP’s corruption, and unveiled its failures.

He further showed confidence in BJP coming to power in MCD for the 4th time.

Amid this, AAP has balloons and posters ready to celebrate its victory. Several videos and pictures of the party workers celebrating are doing rounds on the internet.

Earlier, AAP claimed that the party will win more than 200 seats out of the 250 wards. Exit polls have also predicted AAP as the winner, however, the early trends can see a tight fight between AAP and BJP.

Meanwhile, Congress has managed to win over 6 seats out of which three wards were won by the AAP in 2017.

MCD election 2022: AAP ready with victory posters and balloons but reality bites on counting day

MCD Elections results: AAP’s transgender candidate Bobby Kinnar makes history, wins Sultanpuri A ward

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