NEW DELHI: Indian oil firms are in talks with state-run Abu Dhabi National Oil Company (Adnoc) to acquire a stake in its ADMA-OPCO offshore oil concession when it comes up in 2018, Indian officials said on Friday.
India, the world’s third biggest oil consumer, has told state oil firms to acquire assets overseas to improve energy security. India imports about 80 percent of its crude needs.
ONGC Videsh, Bharat Petroleum, Oil India and Indian Oil Corp. (IOC) are jointly seeking the stake. Two company officials said they wanted 10-12 percent.
“We have submitted expression of interest,” IOC head of finance A.K. Sharma told reporters without giving details.
State-owned Adnoc said in August it would split its ADMA-OPCO offshore oil concession into two or more areas with new terms to unlock greater value and increase opportunities for partnerships.
The existing ADMA-OPCO concession, in which Adnoc has a 60 percent stake that it will retain, produces around 700,000 barrels per day (bpd) of oil and is projected to have a capacity of about 1.0 million bpd by 2021.
Existing shareholders in ADMA-OPCO are BP with 14.67 percent, Total with 13.33 percent and Japan Oil Development Co. with 12 percent.
Prime Minister Narendra Modi, who wants to cut India’s oil imports by 10 percent by 2022, is steering efforts to buy foreign energy assets, taking advantage of low oil prices.
During Modi’s visit to the UAE in 2015, the first by an Indian prime minister since 1981, the two countries announced a $75 billion joint infrastructure fund. UAE is India’s fifth biggest oil supplier.
Adnoc signed a deal this year to store about 6 million barrels of oil at India’s Mangalore storage site, taking up about half of its capacity.
Indian oil companies eye stake in Adnoc’s offshore concession
Indian oil companies eye stake in Adnoc’s offshore concession
Stealth destroyer to be home for 1st hypersonic weapon on a US warship
- The USS Zumwalt is at a Mississippi shipyard where workers have installed missile tubes that replace twin turrets from a gun system that was never activated
The USS Zumwalt is at a Mississippi shipyard where workers have installed missile tubes that replace twin turrets from a gun system that was never activated because it was too expensive. Once the system is complete, the Zumwalt will provide a platform for conducting fast, precision strikes from greater distances, adding to the usefulness of the warship.
“It was a costly blunder but the Navy could take victory from the jaws of defeat here, and get some utility out of them by making them into a hypersonic platform,” said Bryan Clark, a defense analyst at the Hudson Institute.
The US has had several types of hypersonic weapons in development for the past two decades, but recent tests by both Russia and China have added pressure to the US military to hasten their production.
Hypersonic weapons travel beyond Mach 5, five times the speed of sound, with added maneuverability making them harder to shoot down.
Last year, The Washington Post reported that among the documents leaked by former Massachusetts Air National Guard member Jack Teixeira was a defense department briefing that confirmed China had recently tested an intermediate-range hypersonic weapon called the DF-27. While the Pentagon had previously acknowledged the weapon’s development, it had not recognized its testing.
One of the US programs in development and planned for the Zumwalt is “Conventional Prompt Strike.” It would launch like a ballistic missile and then release a hypersonic glide vehicle that would travel at speeds seven to eight times faster than the speed of sound before hitting the target. The weapon system is being developed jointly by the Navy and Army. Each of the Zumwalt-class destroyers would be equipped with four missile tubes, each with three of the missiles for a total of 12 hypersonic weapons per ship.
In choosing the Zumwalt, the Navy is attempting to add to the usefulness of a $7.5 billion warship that is considered by critics to be an expensive mistake despite serving as a test platform for multiple innovations.
The Zumwalt was envisioned as providing land-attack capability with an Advanced Gun System with rocket-assisted projectiles to open the way for Marines to charge ashore. But the system featuring 155 mm guns hidden in stealthy turrets was canceled because each of the rocket-assisted projectiles cost between $800,000 and $1 million.
Despite the stain on its reputation, the three Zumwalt-class destroyers remain the Navy’s most advanced surface warship in terms of new technologies. Those innovations include electric propulsion, an angular shape to minimize radar signature, an unconventional wave-piercing hull, automated fire and damage control and a composite deckhouse that hides radar and other sensors.
The Zumwalt arrived at the Huntington Ingalls Industries shipyard in Pascagoula, Mississippi, in August 2023 and was removed from the water for the complex work of integrating the new weapon system. It is due to be undocked this week in preparation for the next round of tests and its return to the fleet, shipyard spokeswoman Kimberly Aguillard said.
A US hypersonic weapon was successfully tested over the summer and development of the missiles is continuing. The Navy wants to begin testing the system aboard the Zumwalt in 2027 or 2028, according to the Navy.
The US weapon system will come at a steep price. It would cost nearly $18 billion to buy 300 of the weapons and maintain them over 20 years, according to the Congressional Budget Office.
Critics say there is too little bang for the buck.
“This particular missile costs more than a dozen tanks. All it gets you is a precise non-nuclear explosion, some place far far away. Is it really worth the money? The answer is most of the time the missile costs much more than any target you can destroy with it,” said Loren Thompson, a longtime military analyst in Washington, D.C.
But they provide the capability for Navy vessels to strike an enemy from a distance of thousands of kilometers — outside the range of most enemy weapons — and there is no effective defense against them, said retired Navy Rear Adm. Ray Spicer, CEO of the US Naval Institute, a think tank, and former commander of an aircraft carrier strike force.
Conventional missiles that cost less aren’t much of a bargain if they are unable to reach their targets, Spicer said, adding the US military really has no choice but to pursue them.
“The adversary has them. We never want to be outdone,” he said.
The US is accelerating development because hypersonics have been identified as vital to US national security with “survivable and lethal capabilities,” said James Weber, principal director for hypersonics in the Office of the Assistant Secretary of Defense for Critical Technologies.
“Fielding new capabilities that are based on hypersonic technologies is a priority for the defense department to sustain and strengthen our integrated deterrence, and to build enduring advantages,” he said.
Syrian army closes airport and roads as rebels sweep into Aleppo
- Opposition fighters carried out surprise sweep through government-held towns this week
- Russia, a key ally of Assad, has promised Damascus extra military aid to thwart the rebels
AMMAN: Syrian authorities closed Aleppo airport as well as all roads leading into the city on Saturday, three military sources told Reuters, as rebels opposed to President Bashar Assad said they had reached the heart of Aleppo.
The opposition fighters, led by the Islamist militant group Hayat Tahrir Al-Sham, carried out a surprise sweep through government-held towns this week and reached Aleppo nearly a decade after having been forced out by Assad and his allies.
Russia, one of Assad’s key allies, has promised Damascus extra military aid to thwart the rebels, two military sources said, adding new hardware would start arriving in the next 72 hours.
The Syrian army has been told to follow “safe withdrawal” orders from the main areas of the city that the rebels have entered, three army sources said.
The rebels began their incursion on Wednesday and by late Friday an operations room representing the offensive said they were sweeping through various neighborhoods of Aleppo.
They are returning to the city for the first time since 2016, when Assad and his allies Russia, Iran, and regional Shiite militias retook it, with the insurgents agreeing to withdraw after months of bombardment and siege.
Mustafa Abdul Jaber, a commander in the Jaish Al-Izza rebel brigade, said their speedy advance this week had been helped by a lack of Iran-backed manpower in the broader Aleppo province. Iran’s allies in the region have suffered a series of blows at the hands of Israel as the Gaza war has expanded through the Middle East.
The opposition fighters have said the campaign was in response to stepped-up strikes in recent weeks against civilians by the Russian and Syrian air force on areas in rebel-held Idlib, and to preempt any attacks by the Syrian army.
Opposition sources in touch with Turkish intelligence said Turkiye, which supports the rebels, had given a green light to the offensive.
But Turkish foreign ministry spokesperson Oncu Keceli said on Friday that Turkiye sought to avoid greater instability in the region and had warned recent attacks undermined de-escalation agreements.
The attack is the biggest since March 2020, when Russia and Turkiye agreed to a deal to de-escalate the conflict.
CIVILIANS KILLED IN FIGHTING
On Friday, Syrian state television denied rebels had reached the city and said Russia was providing Syria’s military with air support.
The Syrian military said it was fighting back against the attack and had inflicted heavy losses on the insurgents in the countryside of Aleppo and Idlib.
David Carden, UN Deputy Regional Humanitarian Coordinator for the Syria Crisis, said: “We’re deeply alarmed by the situation unfolding in northwest Syria.”
“Relentless attacks over the past three days have claimed the lives of at least 27 civilians, including children as young as 8 years old.”
Syrian state news agency SANA said four civilians including two students were killed on Friday in Aleppo by insurgent shelling of university student dormitories. It was not clear if they were among the 27 dead reported by the UN official.
Kremlin spokesman Dmitry Peskov said on Friday that Moscow regarded the rebel attack as a violation of Syria’s sovereignty.
“We are in favor of the Syrian authorities bringing order to the area and restoring constitutional order as soon as possible,” he said.
Lifting of EU safety agency ban on PIA flights will make air travel easier for Pakistanis — PM
- European Aviation Safety Agency suspended PIA’s authorization in June 2020 over aviation safety concerns
- The suspension came days after Pakistan launched an investigation into the validity of pilots’ licenses
ISLAMABAD: Pakistan has welcomed the decision of the European Aviation Safety Agency (EASA) to lift a ban on Pakistan International Airlines (PIA) flights to the bloc, with Prime Minister Shehbaz Sharif saying it would make air travel easier for Pakistanis living in Europe.
EASA suspended PIA’s authorization to operate in the EU in June 2020 over concerns about the ability of Pakistani authorities and its Civil Aviation Authority (PCAA) to ensure compliance with international aviation standards.
The suspension came days after Pakistan launched an investigation into the validity of pilots’ licenses issued in the country following a PIA plane crash that killed 97 people.
In his statement on Friday, PM Sharif said the lifting of EASA’s ban would strengthen the national flag carrier’s reputation and bring financial benefits to the airline, the state-run Radio Pakistani broadcaster reported.
“The lifting of the ban reflects the successful policies of Pakistan and air travel will become easier for Pakistanis living in Europe,” Sharif was quoted as saying by the broadcaster.
The ban was costing PIA nearly 40 billion Pakistani rupees ($144 million) in revenue annually, according to government records presented in parliament.
PIA and the government had been pressing EASA to lift the ban even provisionally. The government’s attempt to privatize the airline fell flat when it received only a single offer this year, that too well below its asking price.
In a statement, the PIA also vowed to abide by the EASA regulations as it welcomed the lifting of the ban.
“The PIA administration will remain fully compliant with EASA and its rules and regulations,” the airline said.
‘Incredible experience’: Pakistani artisans urge stronger cultural ties at Saudi exhibition
- The handicrafts week in Riyadh featured over 500 artisans who displayed a blend of traditions and skills
- Pakistani participants say they were delighted to see Saudi women entrepreneurs in huge numbers
KARACHI: Pakistani artisans participating in Saudi Arabia’s International Handicrafts Week, Banan, on Friday called for deepening cultural ties between the two nations, emphasizing the role of art and crafts in fostering mutual understanding.
The exhibition, held in Riyadh from Nov. 23 to Nov. 29, featured over 500 artisans from 25 countries, showcasing a vibrant blend of traditions and skills.
The event, organized by the Heritage Commission of the Saudi Ministry of Culture, highlighted the role of crafts in promoting cross-cultural dialogue.
Several Pakistani artisans were facilitated by their embassy to participate in Banan and represent their country’s rich culture.
“It is important to explore the ties between Pakistan and Saudi Arabia through a cultural lens, which has started to happen,” Danish Jabbar Khan, CEO of Kaarvan Crafts Foundation and a participant at the event, told Arab News over the phone.
“The cultural exchange is the way forward for two countries to understand each other," he continued. "It’s simpler and long-lasting. People-to-people exchange is very important that such platforms allow.”
Khan’s foundation works with rural communities, particularly women, to preserve traditional crafts such as truck art, blue pottery and woodwork.
“The experience [of participating in the exhibition] was phenomenal,” he said. “The culture here is so open in terms of its scale, work, and inclusion. I am delighted to see Saudi women entrepreneurs in huge numbers.”
A highlight of the exhibition was truck artist Ejaz ul Allah Mughal, who created custom pieces for attendees.
“I am happy that I represented Pakistan,” Mughal said, adding: “Though language was a barrier, art knows no boundaries. People here really appreciated my craft. Truck art is famous worldwide, so people know about it.”
Mariya Suhail, who uses a diverse range of Pakistan’s gemstones in jewelry, also took her craft to Banan. She set up Pakistan’s first gemstone cutting and processing facility in Lahore over a decade ago, though she later launched her own label, Orah Jewels.
Suhail's work blends Pakistan’s diverse gemstones into jewelry and home décor.
“People here picked up gemstones from Pakistan and loved it," she told Arab News. "There is a lot of demand for Pakistani products here. People of Riyadh also have a very positive outlook towards Pakistan.”
She maintained that despite the language barrier, there was a lot of learning, networking and exposure.
“Cultural exchange is very important," she added. "I wish we can have more such events and opportunities to present this very beautiful image of Pakistan. It's been an incredible experience here.”
The Embassy of Pakistan in Riyadh also commended the artisans’ participation, calling the Pakistani pavilion a testament to the country's rich cultural heritage and the unparalleled quality of its craftsmanship.
"From intricate handmade designs to traditional artistry passed down through generations, the showcased crafts highlighted the deep-rooted legacy of Pakistan's artisan community,” it said in a statement.
KSrelief conducts medical outreach in Yemen, Djibouti and Bangladesh
RIYADH: Saudi Arabia’s King Salman Humanitarian Aid and Relief Center (KSrelief) conducted various medical activities in Yemen, Djibouti and Bangladesh in cooperation with volunteer organizations and specialists.
In Yemen’s Socotra, 16 specialist volunteers successfully completed a project involving specialized and general pediatric surgeries. During the campaign from Nov. 16 to 23, KSrelief’s medical team conducted 404 examinations, performed 60 surgeries, and provided medicine for 208 patients.
In Djibouti, the aid agency launched on Wednesday a cardiac catheterization surgery project – with seven specialists in the team – and has successfully performed four procedures since.
In Bangladesh’s city of Rangpur, KSrelief implemented the Saudi Volunteer Project to combat blindness and its contributive diseases. The center’s volunteer medical team examined 5,082 cases, performed 456 specialized eye surgeries, and distributed 1,454 eyeglasses from Nov. 22 to 26.
