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India will produce 25% of its oil demand by 2030: Minister

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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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Maldives Coast Guard Ship Huravee departs island

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The Maldives Coast Guard Ship Huravee which arrived in Sri Lanka for replenishment purposes, departed the island on 04 Mar 26.

In accordance with naval tradition, the Sri Lanka Navy extended a customary farewell to the departing ship at the Port of Colombo

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‘IRIS Dena was Indian Navy guest, hit without warning’, Iran warns US of bitter regret

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A day after a US submarine sunk an Iranian Navy warship off the coast of Sri Lanka, the Foreign Minister of Iran, Sayed Abbas Araghchi, has warned that the US would “pay bitterly” for targeting a ship in international waters, The Tribune has reported.

Araghchi posted on social media platform X on Thursday saying, “The US has perpetrated an atrocity at sea, 2,000 miles away from Iran’s shores.”

The frigate IRIS Dena, a guest of India’s Navy carrying almost 130 sailors, was struck in international waters without warning, said the Iran Foreign Minister, adding, “Mark my words: The US will come to bitterly regret the precedent it has set.”

US Secretary of War, Pete Hegseth, on Wednesday confirmed that a US submarine fired a torpedo and sank the Iranian Navy vessel IRIS Dena west of Sri Lanka.

In a way, the Iran and US-Israel conflict has reached close to the Indian coast. The strike today at sea was almost 4,000 kms away from Iran, significantly expanding the radius of war. Already, fearing Iranian missile strikes, several US warships have moved eastward towards India.

These ships are in international waters. India has denied that any US Navy assets were using Indian ports. The Iranian ship, hit on Wednesday, was returning after participating in the international fleet review and exercise Milan hosted by India at Visakhapatnam.

The Iranian ship went down with almost 130 sailors on board missing. The Sri Lankan Navy, acting on a distress call, rescued 32 of the Iranian sailors. Hegseth confirmed the act by the US forces, saying the ship was hit in the Indian Ocean, stating, “an Iranian warship that thought it was safe in international waters. .. Instead, it was sunk by a torpedo”.

Hegseth did not name the Iranian ship that was attacked. But earlier, the Sri Lankan Navy reported the distress call from IRIS Dena when it was some 40 kms west of Galle, located on the south-western part of the island country. On February 16, the Iranian ship had sailed into the port of Visakhapatnam, where seventy-four nations participated.

Warships from Australia, Japan, South Korea, Russia, and dozens of others were anchored alongside the now-sunk Iranian vessel. Iran’s Navy Commander, Rear Admiral Shahram Irani, held talks with India’s Chief of Naval Staff on strengthening maritime security cooperation.

The theme was “United through Oceans.” Notably, the US Navy was supposed to send the guided-missile destroyer USS Pinckney to the exercise Milan; however, the ship was diverted to Singapore on February 15. The US did not field its warship in Milan, which had ships from Russia and Iran.

The exercise ended on February 25. Three days later, on February 28, the United States and Israel launched Operation Epic Fury. The IRIS Dena was transiting home. This morning at 5:08 a.m. local time, the IRIS Dena issued a distress call. Sri Lanka’s Foreign Minister, Vijitha Herath, informed parliament that two navy vessels and an aircraft were deployed. Thirty crew members were rescued and admitted to Karapitiya Hospital in Galle.

The Straits Times reported 32 critically wounded survivors. Reuters reported 101 missing and 78 wounded. The Sri Lankan Navy spokesman said the operation was conducted in line with the International Convention on Maritime Search and Rescue.

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Risk of power cuts due to use of low-quality coal,PUCSL warns

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The Public Utilities Commission of Sri Lanka (PUCSL) has warned of a possible risk of power cuts due to the use of inferior quality coal affecting generation capacity at the Lakvijaya Power Plant, according to a recent commission report.

The commission said the risk to the continuous electricity supply was assessed based on the peak demand forecast submitted by the Ceylon Electricity Board (CEB) for 2026.

According to the report, the analysis assumed that hydropower plants could contribute up to 1,300 MW to meet the night peak demand, while the Lakvijaya Power Plant (LVPS) would be able to contribute only up to 690 MW due to a capacity shortfall, assuming a 40 MW generation capacity reduction from each unit.

The PUCSL said the assessment was carried out taking into account the planned maintenance schedule submitted by the CEB. Under the schedule, Unit 1 of the Lakvijaya plant is due to undergo maintenance checks and repairs in June for a period of 25 days, while Unit 2 is scheduled for maintenance in July for another 25 days.

The report also noted that the 270 MW West Coast Power Plant is scheduled to undergo maintenance in April for 10 days, while the 150 MW Kelanitissa Combined Cycle Power Plant (KCCP 2) is expected to undergo maintenance during May, June and July.

Under normal conditions, the report said, there is a potential risk of a generation capacity shortage if electricity demand reaches 3,030 MW in April, 3,070 MW in June and 3,000 MW in July.

The highest recorded night peak demand so far in 2026 was 2,949 MW on February 25.

The PUCSL further warned that if one coal unit or any major power plant becomes unavailable from the existing generation mix, there would be a significant risk of a generation capacity shortage to meet the night peak demand, particularly during April, June and July.

Energy sector analysts said the use of substandard coal could further aggravate operational challenges at the Norochcholai plant, potentially affecting generation efficiency and reliability if corrective measures are not taken promptly.

By Ifham Nizam

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