Watch in Top Headlines of the hour: -Mexico cut ties with Ecuador -Dam bursts in Russian city -Retrieved body of hostage: IDF -China accused of harassment

Mexico cut ties with Ecuador | Iraq Force bombs Israel oil refineries

Amid a call for a nationwide strike by several unions, regional train traffic in France was cut by about half on Tuesday. The strike comes at a time when inflation is at a high.&nbsp;It has been a few days since the strikes have been taking place in the country to increase minimum wages with soaring prices. This industrial move has severely disrupted fuel distribution.&nbsp;

The strike has primarily affected the public sector, with schools being disrupted. On the transport front, Eurostar said it was cancelling some trains between London and Paris because of the strike.

The strikes grew broader after oil refineries decided to walk out. Last week, a negotiation call was made but the workers denied the proposed deal.&nbsp;

<a href="https://www.wionews.com/world/paris-thousands-take-to-streets-to-protest-soaring-prices-525950">Also read |&nbsp;Paris: Thousands take to streets to protest soaring prices</a>

Furthermore, with the oil shortage, workers have also blocked several roads. People are travelling for hours to get their vehicle's tanks filled.&nbsp;

Macron's government is all set to issue official orders for workers to uphold the movement, which for now have been upheld in the courts.&nbsp;

French President Emmanuel Macron on Monday said that the government will try its utmost to resolve the matter as soon as possible, AFP reported.

Similarly, the finance minister of the country stated that is important for the government to issue "requisitioning powers." He further stated that the time for negotiation is over.&nbsp;

<a href="https://www.wionews.com/world/france-refinery-strike-has-hit-petrol-supplies-further-says-pm-525947">Also read |&nbsp;France: Refinery strike has hit petrol supplies further, says PM</a>

However, unions have stated that issuing requisitioning is unacceptable and is not the right solution.&nbsp;

These strikes are no more limited to the oil refinery industries. Workers from other industries have also announced to protest against the inflation and soaring prices of commodities.&nbsp;

Furthermore, the CGT and FO unions announced their nationwide strikes to dem, and for higher salaries and oppose the government's requisitioning powers.&nbsp;

In the capital city, Paris, the police expected separate protests by nearly 15,000 workers and school teachers on Tuesday. &nbsp;

(With inputs from agencies)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Amid a call for a nationwide strike by several unions, regional train traffic in France was cut by about half on Tuesday. The strike comes at a time when inflation is at a high.

Amid a call for a nationwide strike by several unions, regional train traffic in France was cut by about half on Tuesday. The strike comes at a time when inflation is at a high. It has been a few days since the strikes have been taking place in the country to increase minimum wages with soaring prices. This industrial move has severely disrupted fuel distribution. The strike has primarily affected the public sector, with schools being disrupted. On the transport front, Eurostar said it was cancelling some trains between London and Paris because of the strike. The strikes grew broader after oil refineries decided to walk out. Last week, a negotiation call was made but the workers denied the proposed deal. Also read | Paris: Thousands take to streets to protest soaring prices Furthermore, with the oil shortage, workers have also blocked several roads. People are travelling for hours to get their vehicle's tanks filled. Macron's government is all set to issue official orders for workers to uphold the movement, which for now have been upheld in the courts. French President Emmanuel Macron on Monday said that the government will try its utmost to resolve the matter as soon as possible, AFP reported. Similarly, the finance minister of the country stated that is important for the government to issue "requisitioning powers." He further stated that the time for negotiation is over. Also read | France: Refinery strike has hit petrol supplies further, says PM However, unions have stated that issuing requisitioning is unacceptable and is not the right solution. These strikes are no more limited to the oil refinery industries. Workers from other industries have also announced to protest against the inflation and soaring prices of commodities. Furthermore, the CGT and FO unions announced their nationwide strikes to dem, and for higher salaries and oppose the government's requisitioning powers. In the capital city, Paris, the police expected separate protests by nearly 15,000 workers and school teachers on Tuesday. (With inputs from agencies) WATCH WION LIVE HERE

France: Nationwide strikes over pay and cost of living hit transport, schools

Yemen's Iran-backed Houthi rebels have ramped up attacks on Saudi cities and state-owned oil firms. Adding to the misery, the United States, Saudi Arabia's biggest ally is also isolating the nation in Yemen.

Yemen's Houthis Launch attacks on oil refineries in Saudi Arabia: Report

Missile strikes on makeshift oil refineries in northern Syria killed four people and injured more than 20 others, a war monitor said on Saturday.&nbsp;

The Syrian Observatory for Human Rights said a series of strikes launched from Russian warships and by allied Syrian government forces hit the makeshift refineries in Aleppo province on Friday night, causing a massive blaze as dozens of tankers caught fire in the area controlled by Turkey and its Syrian rebel proxies.&nbsp;

The Britain-based monitor 'documented the deaths of four people, while 24 others sustained various injuries and burns' in the attacks near the towns of Jarablus and Al-Bab.&nbsp;

At least one Syrian rebel was among the dead, said Observatory head Rami Abdul Rahman. &nbsp;

Rescue workers spent hours trying to extinguish the fire, which spread to about 180 oil tankers, according to the war monitor.&nbsp;

"The fires are the largest yet from a missile attack on makeshift refineries," the Observatory said.&nbsp;

Oil installations in Turkey-controlled parts of Aleppo have come under repeated attack in recent months although Moscow and the Syrian regime have not claimed responsibility.&nbsp;

The Observatory reported two such missile attacks last month.&nbsp;

In January, unidentified drones also hit oil refineries in Turkish-held areas of Aleppo, causing a large fire, according to the Observatory. &nbsp;

Syria's war has killed more than 387,000 people and displaced millions since starting in 2011 with a brutal repression of anti-government protests.&nbsp;

It later evolved into a complex conflict involving jihadists and foreign powers.&nbsp;

Northern neighbour Turkey has seized control of several regions inside Syria in military campaigns against the Islamic State group and Kurdish fighters since 2016.&nbsp;

(With inputs from agencies)&nbsp;

Missile strikes on makeshift oil refineries in northern Syria killed four people and injured more than 20 others, a war monitor said on Saturday. The Syrian Observatory for Human Rights said a series of strikes launched from Russian warships and by allied Syrian government forces hit the makeshift refineries in Aleppo province on Friday night, causing a massive blaze as dozens of tankers caught fire in the area controlled by Turkey and its Syrian rebel proxies.

Missile strikes on makeshift oil refineries in northern Syria killed four people and injured more than 20 others, a war monitor said on Saturday. The Syrian Observatory for Human Rights said a series of strikes launched from Russian warships and by allied Syrian government forces hit the makeshift refineries in Aleppo province on Friday night, causing a massive blaze as dozens of tankers caught fire in the area controlled by Turkey and its Syrian rebel proxies. The Britain-based monitor 'documented the deaths of four people, while 24 others sustained various injuries and burns' in the attacks near the towns of Jarablus and Al-Bab. At least one Syrian rebel was among the dead, said Observatory head Rami Abdul Rahman. Rescue workers spent hours trying to extinguish the fire, which spread to about 180 oil tankers, according to the war monitor. "The fires are the largest yet from a missile attack on makeshift refineries," the Observatory said. Oil installations in Turkey-controlled parts of Aleppo have come under repeated attack in recent months although Moscow and the Syrian regime have not claimed responsibility. The Observatory reported two such missile attacks last month. In January, unidentified drones also hit oil refineries in Turkish-held areas of Aleppo, causing a large fire, according to the Observatory. Syria's war has killed more than 387,000 people and displaced millions since starting in 2011 with a brutal repression of anti-government protests. It later evolved into a complex conflict involving jihadists and foreign powers. Northern neighbour Turkey has seized control of several regions inside Syria in military campaigns against the Islamic State group and Kurdish fighters since 2016. (With inputs from agencies)

Missile strikes on makeshift oil refineries in Syria kill four, says monitor  

A few days back, PM Modi inaugurated a new oil refinery in Barmer (Rajasthan) with much fanfare. He also staged a rally there. Rajasthan is going to poll this year and since it is on the radar of Modi, holding a rally was an obvious choice.

&nbsp;

The refinery&#39;s foundation stone was originally laid in September 2013 by Sonia Gandhi but work never saw the light of the day. During the latter part of the previous decade, Rajasthan made an emphatic entry in India&rsquo;s oil scenario when Cairn India (now part of Vedanta Group) started substantial oil production there. The field is significant as it is producing around 25% of pan-India crude production and it only makes sense to have a refinery right adjacent to oil producing field.&nbsp;

&nbsp;

Currently, the crude oil produced in Rajasthan is being transported to the west coast by pipeline and from there it is going to various refineries in the country.

&nbsp;

But does it really make sense to have more refineries in India? Well, let&rsquo;s try to assess. Currently, India has an installed refining capacity of 235 MMTPA (Million Metric Tonne) per annum and they processed 250 MMT crude in the year 2017. Here, one thing is worth mentioning, out of this 250 MMT crude oil processed, India has produced only 40 MMT. Therefore, 210 MMT crude oil processed was imported, which is whopping 84% of total refined crude. &nbsp;

&nbsp;

Though India&rsquo;s oil consumption has grown with a CAGR of around 5.4% over the past five years, still the total consumption was 200 MMT in 2017. India, thus, still has a huge surplus refining capacity and, currently, India is exporting finished petroleum products.&nbsp;

&nbsp;

In all probability, the growth rate in consumption is bound to decline in the years to come because of the growing use of natural gas, biofuels and electric vehicles. Surface Transport Minister Nitin Gadkari has already made his intentions clear for a mega push on electric vehicles and a complete switchover by the decade of 2030. Railways have made its intention clear that it will push electric loco instead of diesel loco in days to come.

&nbsp;

Look at the other aspects now. Already setting up of a mega 60 MMPTA refinery is in pipeline at the west coast by a consortium of IOC, BPC and HPC, 40 MMTPA of which is likely to be up and running by 2022-23.&nbsp; So by the year 2022, when country&rsquo;s demand will touch 240-245 MMTPA the refining capacity will go up to 280 MMTPA. Please note that here expansion plans of various existing refineries have not been factored in which will further add to the capacity.

&nbsp;

So oil companies need to depend on the export of finished products in order to run their refineries at full capacity. In a scenario when there is no dearth of refining capacity globally, finding a market for this won&rsquo;t be so easy. Apart from that Indian refiners struggle to maintain good GRM (Gross Refinery Margin, a benchmark world over for refinery&rsquo;s efficiency), which is essential to be competitive in the world market. Moreover, it does not make good sense that we import crude from outside, process it and then export the finished product.

&nbsp;

In fact, the need of the hour is to give a decisive push to enhance crude production. The GOI needs to seriously look into what flagship oil producer ONGC is up to and how it can become more productive. Notwithstanding the argument that oil discovery and production is an arduous task, the fact remains that after Bombay High in the early eighties, ONGC has not made any significant oil discovery till date. i.e., for around 35 years.&nbsp;

&nbsp;

So as our current refining capacity is 235 MMTPA and Crude oil production is 40 MMTPA. What we need to do is to reduce the gap of 235 and 40 by increasing oil production, we instead are further increasing 235.

&nbsp;

The government can argue that such investments in new refineries are part of its infrastructure push and it will create jobs etc., but we all understand there is huge political rhetoric behind each such decision. Bottom-line is that the money spent by PSUs/GOI is taxpayer&rsquo;s money at the end of the day. It would be extremely sad if that money spent does not bring true value to the nation in the longer run to come. &nbsp;

&nbsp;

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)&nbsp;&nbsp;&nbsp;

&nbsp;

The government can argue that such investments in new refineries are part of its infrastructure push and it will create jobs etc., but we all understand there is huge political rhetoric behind each such decision.

A few days back, PM Modi inaugurated a new oil refinery in Barmer (Rajasthan) with much fanfare. He also staged a rally there. Rajasthan is going to poll this year and since it is on the radar of Modi, holding a rally was an obvious choice. The refinery's foundation stone was originally laid in September 2013 by Sonia Gandhi but work never saw the light of the day. During the latter part of the previous decade, Rajasthan made an emphatic entry in India’s oil scenario when Cairn India (now part of Vedanta Group) started substantial oil production there. The field is significant as it is producing around 25% of pan-India crude production and it only makes sense to have a refinery right adjacent to oil producing field. Currently, the crude oil produced in Rajasthan is being transported to the west coast by pipeline and from there it is going to various refineries in the country. But does it really make sense to have more refineries in India? Well, let’s try to assess. Currently, India has an installed refining capacity of 235 MMTPA (Million Metric Tonne) per annum and they processed 250 MMT crude in the year 2017. Here, one thing is worth mentioning, out of this 250 MMT crude oil processed, India has produced only 40 MMT. Therefore, 210 MMT crude oil processed was imported, which is whopping 84% of total refined crude. Though India’s oil consumption has grown with a CAGR of around 5.4% over the past five years, still the total consumption was 200 MMT in 2017. India, thus, still has a huge surplus refining capacity and, currently, India is exporting finished petroleum products. In all probability, the growth rate in consumption is bound to decline in the years to come because of the growing use of natural gas, biofuels and electric vehicles. Surface Transport Minister Nitin Gadkari has already made his intentions clear for a mega push on electric vehicles and a complete switchover by the decade of 2030. Railways have made its intention clear that it will push electric loco instead of diesel loco in days to come. Look at the other aspects now. Already setting up of a mega 60 MMPTA refinery is in pipeline at the west coast by a consortium of IOC, BPC and HPC, 40 MMTPA of which is likely to be up and running by 2022-23. So by the year 2022, when country’s demand will touch 240-245 MMTPA the refining capacity will go up to 280 MMTPA. Please note that here expansion plans of various existing refineries have not been factored in which will further add to the capacity. So oil companies need to depend on the export of finished products in order to run their refineries at full capacity. In a scenario when there is no dearth of refining capacity globally, finding a market for this won’t be so easy. Apart from that Indian refiners struggle to maintain good GRM (Gross Refinery Margin, a benchmark world over for refinery’s efficiency), which is essential to be competitive in the world market. Moreover, it does not make good sense that we import crude from outside, process it and then export the finished product. In fact, the need of the hour is to give a decisive push to enhance crude production. The GOI needs to seriously look into what flagship oil producer ONGC is up to and how it can become more productive. Notwithstanding the argument that oil discovery and production is an arduous task, the fact remains that after Bombay High in the early eighties, ONGC has not made any significant oil discovery till date. i.e., for around 35 years. So as our current refining capacity is 235 MMTPA and Crude oil production is 40 MMTPA. What we need to do is to reduce the gap of 235 and 40 by increasing oil production, we instead are further increasing 235. The government can argue that such investments in new refineries are part of its infrastructure push and it will create jobs etc., but we all understand there is huge political rhetoric behind each such decision. Bottom-line is that the money spent by PSUs/GOI is taxpayer’s money at the end of the day. It would be extremely sad if that money spent does not bring true value to the nation in the longer run to come. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Opinion: Does India need more oil refineries or is it politics?

oil-refineries

Oil Refineries, News on Oil Refineries, stories on Oil Refineries, articles on Oil Refineries, Oil Refineries stories at Wion, Oil Refineries news, Oil Refineries latest news