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Floods bring down India’s fuel demand to 14-year low

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Floods bring down India’s fuel demand to 14-year low

[vc_row][vc_column][vc_column_text]Many Indian states have suffered from excessive rainfall and floods over the past few weeks, causing demand for fuel for cars to drop

-By Zainab Calcuttawala –

India reached a 14-year low in fuel demand as the effects of massive floods that have ravaged different parts of the country over the past few weeks have now begun to become clearer.

National oil demand fell by 6.1 percent as Indians in select areas tend to their homes to measure the damage from stronger than usual monsoon rains that have wreaked havoc in flood-hit states like Gujarat, Bihar, Rajasthan, UP and almost the entire north-eastern region.

India is the world’s fastest growing oil consumer. The Asian country used 15.75 million tons of fuels last month, about 1 million tons lower than figures from last year from the same month. Demand for diesel – which represents 40 percent of fuel demand for the country – fell 3.7 percent as well.

“Severe flooding in parts of the country may have impeded freight and manufacturing activities causing overall demand to contract,” Nevyn Nah from Energy Aspects said. “Also, demand growth was exceptionally strong in August last year resulting in a high base.” Last August’s figures showed 18 percent growth compared to the previous month.

This most recent hit to oil demand is the second time this year that Indians have reduced their craving for the world’s favorite fossil fuel. After the implementation of Prime Minister Narendra Modi’s demonetization strategy, demand had dropped by 5.9 percent.

Floods bring down India’s fuel demand to 14-year low

Assam, Bengal, Bihar, Gujarat and several other states have suffered from excessive rainfall and floods over the past few weeks, causing demand for fuel for cars to drop. Flooded roads tend to lower the thirst for gasoline and transportation related fuels.

The International Energy Agency sees India as the fastest developing oil consumer through the year 2040. Still, in four of the eight complete months this year, demand has continuously fallen. Still India remains dependent on oil imports as 80 percent of national fuel demand is met via imports.

India is ready to buy oil from Russia, the United States, and any other trustable producer as the country’s middle class grows quickly and voraciously.

(This article is from a syndicated feed provided by Oilprice.com)[/vc_column_text][/vc_column][/vc_row]

India News

Home Ministry convenes emergency meeting amid rising security concerns after Pahalgam terror attack

After the tragic Pahalgam terror attack, the Home Ministry convened a high-level meeting in Delhi as intense security operations unfold across Jammu and Kashmir.

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Amid heightened security concerns following the deadly Pahalgam terror attack that claimed 26 lives, the Ministry of Home Affairs convened a high-level meeting in New Delhi on Tuesday.

Key officials attending the meeting include Union Home Secretary Govind Mohan, Director Generals of the Border Security Force (BSF), Assam Rifles, and the National Security Guard (NSG), along with senior representatives from the Central Reserve Police Force (CRPF) and the Central Industrial Security Force (CISF).

Meanwhile, extensive counter-terrorism operations are ongoing at multiple locations across Jammu and Kashmir. Sources familiar with the matter noted that, due to the sensitive nature of these operations, no specific updates are currently being disclosed.

In a related development on Monday, the Jammu and Kashmir Police conducted raids at 13 locations in the Doda district, targeting terrorist hideouts and individuals suspected of links to terrorist activities.

Additionally, Srinagar Police carried out a series of extensive searches across the city. These operations focused on the residences of Over Ground Workers (OGWs) and associates linked to banned terrorist outfits, as part of ongoing investigations under the Unlawful Activities (Prevention) Act (UAPA).

According to a police statement, searches were conducted at the homes of 63 individuals. These operations were executed in accordance with legal procedures, under the supervision of Executive Magistrates and independent witnesses, aiming to collect evidence such as weapons, documents, and digital devices to thwart any potential conspiracies threatening national security.

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Family Man 3 actor Rohit Basfore found dead near Guwahati waterfall

Actor Rohit Basfore, part of Family Man 3, was found dead at Garbhanga Waterfalls. Initial police reports cite accidental drowning, but further investigation is ongoing.

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In a tragic turn of events, actor Rohit Basfore, known for his role in the upcoming third season of The Family Man, was found dead near the Garbhanga Waterfalls in Guwahati on Sunday, April 27. The incident has sent shockwaves through the entertainment community and among fans.

According to police reports, Basfore had gone on a picnic with nine colleagues when the mishap occurred. Officials from Rani Police Outpost stated that he allegedly fell into the waterfall around 2 pm. The authorities were alerted by 4 pm, and a rescue operation led by the SDRF team resulted in the recovery of his body at approximately 6.30 pm.

Initial findings suggest that Basfore died by accidental drowning, with the police currently not suspecting foul play. However, the final confirmation on the cause of death will depend on the awaited post-mortem report. Despite the preliminary conclusions, Basfore’s family members have voiced concerns over possible foul play, prompting further investigation into the circumstances surrounding his death.

In recent weeks, Rohit Basfore had shared glimpses from the set of Family Man 3 on his social media, expressing excitement about his experience. He posted photographs alongside co-actors Jaideep Ahlawat and Dalip Tahil, reflecting on his enthusiasm for learning and acting.

The Family Man series, a creation by Raj & DK for a leading OTT platform, stars Manoj Bajpayee in the lead role of Srikant Tiwari. The popular thriller debuted its first season in 2019, followed by a second season in 2021, and has gained a loyal fanbase awaiting its third chapter.

As the investigation continues, friends, fans, and colleagues mourn the untimely loss of a budding talent whose career was just beginning to blossom.

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PM Modi to chair crucial security meeting after Pahalgam attack

PM Modi will chair crucial security and cabinet meetings tomorrow to assess national preparedness after the Pahalgam terror attack that left 26 dead in Jammu and Kashmir.

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PM Modi

In the aftermath of the deadly terror attack in Pahalgam that claimed 26 lives last week, Prime Minister Narendra Modi will lead a series of crucial meetings tomorrow to review India’s security preparedness.

The Cabinet Committee on Security (CCS), the nation’s apex body for national security decisions, is scheduled to convene around 11 am. This will be the second high-level review since the tragic incident in Jammu and Kashmir.

Following the CCS meeting, the Cabinet Committee on Political Affairs (CCPA), chaired by the Prime Minister, will also gather to discuss political and strategic issues. Senior leaders, including Defense Minister Rajnath Singh, Home Minister Amit Shah, Road Transport Minister Nitin Gadkari, Health Minister JP Nadda, and Finance Minister Nirmala Sitharaman, will participate in the deliberations.

Later, the Cabinet’s Economic Affairs Committee will meet, culminating in a full cabinet session.

During the previous CCS meeting, held two days after the attack, the government placed security forces across the country on heightened alert and vowed strict action against those responsible. Measures taken included suspending the Indus Water Treaty with Pakistan, halting SAARC visas, closing the Wagah-Attari border, and downgrading diplomatic ties with Islamabad.

Additionally, Pakistani nationals residing in India were asked to return to their country, with a slight extension given to those holding medical visas until Tuesday. In retaliation, Pakistan announced the suspension of all bilateral agreements with India, including the historic Simla Agreement.

As tensions between the two countries escalate, tomorrow’s meetings are expected to chart the next course of action amid rising security concerns.

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