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Speed Post News Network Patna : Captain Joe Root scored 124, his 15th test century, as England reached 324/9  at stumps on day 3 in their second innings in the second test More »

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Speed Post News Network Patna : New Zealand were all out for just 153 runs in 66.3 overs in their first innings in the first test against Pakistan on the first day More »

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Srikanth, Sameer crash out of BWF Hong Kong Open 2018

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Speed Post News Network Patna : World No 8 in Badminton World Federation (BWF) rankings Kidambi Srikanth, 25, India, and World No 18 Sameer Verma, 24, India, lost in the quarter-finals of  More »

7 IAS officers of 2014 batch promoted to Jt. Secretary rank

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Speed Post News Network Patna : Bihar Government on November 16, 2018, promoted 7 Bihar cadre IAS officers of 2014 batch to the Joint Secretary rank in senior selection grade scale with More »

Gunneswaran & Myneni to clash in final of ATP Challenger Banagalore

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Speed Post News Network Patna : World No 144 in ATP rankings Prajnesh Gunneswaran, 28, India, and World No 312 Saketh Myneni, 31, India, will clash in the final of  ATP Challenger More »

 

Pradhan meets Ambassadors from OPEC coutries to India

Speed Post News Network

New Delhi : Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship Dharmendra Pradhan on June 14, 2018, met the Ambassadors from OPEC countries to India. The  meeting comes at a crucial time when the global crude oil prices are at the highest since the peak of 2014.

India has a strong engagement with the OPEC countries and top 8 suppliers of crude oil to India are OPEC Member countries. The block accounted for about 83% of India’s total crude oil imports, 98% of our LPG imports and 74% of our LNG imports during the last financial year.

During the meeting, Pradhan expressed his concern about rising crude oil prices and its negative impact on consumers across the world particularly in India. He emphasized that globally crude prices have gone beyond the threshold which can be sustained by the world. He highlighted that market fundamentals do not support such high prices.  He urged the OPEC Ambassadors to convey the message to their respective Governments regarding the need to move to responsible pricing, one that balances the interests of both the producer and consumer. He reiterated the issue of discriminatory pricing through measures such as Asian Premium. Pradhan stressed on moving to transparent and flexible markets for both oil and gas, according to a PIB release.

Pradhan is scheduled to visit Vienna  on June 20&21, 2018, to participate in the 7th OPEC International Seminar to further discuss these key issues with Sanusi Barkindo, Secretary General of OPEC, and Ministers from OPEC member countries who will also be attending the Seminar.

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