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India will produce 25% of its oil demand by 2030: Minister
Union Petroleum and Urban Affairs Minister Hardeep S Puri, on Friday, assured that the Indian petroleum industry was at the cusp of opportunity and will be able to produce 25 percent of its crude oil demand by 2030. Interacting with the media here at the inaugural event of the 5h South Asian Geoscience Conference (GEO)-India 2020, Puri said, “At present, five million barrels of petroleum is being consumed in our country every day, and it is also increasing by three percent, which is higher than global average of around one percent.”
He further said, “The ethanol-blend percentage in petrol has been increased from 0.67 percent in 2013 to 10 per cent in May 2022, i.e. five months ahead of schedule. It is reducing 2.7 million tonnes of CO2 emissions which is good for the environment.As per the International Energy Agency (IEA) estimates, India will contribute a quarter (25%) of the growth in global energy consumption in the coming two decades. BP estimates that India’s energy demand will double, while natural gas demand is expected to grow five-fold by 2050.”
Speaking on the occasion, Petroleum Secretary Pankaj Jain said the geology experts should utilise this opportunity to elevate their contribution in the context of increasing demand and scarcity of energy sources. He urged the geoscientific fraternity to develop tailored knowledge for deep water, ultra-deep water and onshore to enhance oil and gas production while doing it in an environmentally sustainable manner.
Rajesh Kumar Srivastava, CMD, Oil and Natural Gas Corporation Limited (ONGC) and Chief Patron of APG, said, “The global market value of automation technology in the oil and gas sector is projected to nearly double and reach approximately $42 billion by 2030. It is high time that the oil and gas sector take advantage of the digital transformation”.
Veteran Geologist Shyam Vyas Rao, former Director (Exploration), ONGC was also presented with the Life Time Achievement Award by the Minister in the inaugural session. The Minister also inaugurated the Exhibition of GeoIndia 2022, where a number of Indian and global petroleum companies and service providers are showcasing their cutting edge services and tools for Exploration and production of oil and gas. – Statesman/ANN
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Rs 1. 3 bn yahapalana building deal under investigation
Several ex-Cabinet ministers questioned; Ranil, Sajith, too likely to be summoned
The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has initiated an inquiry into the shifting of the Agriculture Ministry situated at Rajamalwatte, to a building belonging to the D. P. Jayasinghe Group of Companies, at Rajagiriya, during the Yahapalana government.
The building was rented for a five-year period at a cost of over Rs 1 bn by the yahapalana government within months after the then President Maithripala Sirisena declared opened the 10-storey building complex.
The CIABOC yesterday morning recorded former yahapalana minister Gayantha Karunatilleke’s statement in connection with the investigation. Later in the day, CIABOC recorded the statement of SJB General Secretary Ranjith Maddumabanadara. Earlier CIABOC summoned former ministers Thalatha Atukorale, Wajira Abeywardena and Lakshman Kiriella. At the time of the finalisation of the deal, KIriella was in the UNP.
Sources said that former PM and President Ranil Wickremesinghe, too, was likely to be questioned in this regard. Responding to The Island queries, sources pointed out even SJB leader Sajith Premadasa was expected to be questioned.
The then Speaker Karu Jayasuriya is on record as having said that the building was rented in keeping with a decision taken by the government and not Parliament.
The UNP-SLFP coalition shifted the Agriculture Ministry to accommodate 16 Sectoral Oversight Committees therein.
Although the government paid as much as Rs. 21.5 mn monthly rent to D.P.A. Jayasinghe Company, the Agriculture Ministry failed to move in for over a year. The then Agriculture Minister Duminda Dissanayake sought Cabinet approval on Dec 1, 2015 to rent the building.
According to inquiries conducted earlier by the Presidential Commission appointed to probe state sector corruption, the Agriculture Ministry sought Cabinet approval for a new building after the then Prime Minister Wickremesinghe submitted a cabinet proposal on 21 September, 2015, to use the Agriculture Ministry building for Parliament’s sectoral oversight committees.
PM Wickremesinghe’s Secretary Saman Ekanayake has told the Commission that public funds could have been saved if the several vacant floors of Suhurupaya belonging to the Defence Ministry had been made available to the Agriculture Ministry.
By Shamindra Ferdinando ✍️
News
SL Railways suffers staggering losses; more than 2/3 of rail tracks out of service
Railway sources said that the damages caused to railway tracks could be more than USD 300 mn.
According to UNDP Rapid Crisis Assessment Sri Lanka’s railroad system, over 278 km of railways were exposed to cyclone-related flooding, including 35 railroad bridges nationwide. This figure reflects flooding only, but other hazards (such as localised debris, landslides, or damage to a single bridge) can also disrupt operations, meaning that even relatively small obstructions can render long stretches of railway non-operational. Like road exposure, railway exposure limits mobility and the capacity of affected populations to access key services and infrastructure.
At the level of divisional secretariats, Colombo and Thimbirigasyaya in Colombo District, Ja Ela in Gampaha District, as well as Mannar Town and Nanaddan in Mannar District all registered over 10 km of exposed railways each.
Commissioner-General of Essential Services B.K. Prabath Chandrakeerthi is on record as having said that only 478 kilometers of Sri Lanka’s 1,593-km railway network were currently usable following extensive damage caused by the recent cyclone.
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US, SL advancing free, open, and resilient Indo-Pacific region: Embassy
Under Secretary of State for Political Affairs Allison Hooker arrived in Colombo yesterday (11) to underscore US interest in defence, trade and maritime security in line with their Indo-Pacific strategy.
The US embassy here issued the following statement: “Under Secretary Hooker will meet with Sri Lankan counterparts to discuss a wide range of bilateral issues, focused on deepening economic and commercial ties, strengthening defence cooperation, and supporting Sri Lanka’s economic and maritime sovereignty.
The United States and Sri Lanka share a strong and enduring partnership rooted in our mutual commitment to regional security, economic growth, and prosperity for our peoples. Through close cooperation on defence, trade, and maritime security, we are working together to advance a free, open, and resilient Indo-Pacific region.
As we continue to build on our strategic partnership, the United States also stands with the people of Sri Lanka as they respond to the devastating impacts of Cyclone Ditwah. We remain committed to working together to address both immediate challenges and long-term opportunities for our two nations, reflecting our ongoing commitment to the U.S.-Sri Lanka partnership.”
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