Modi meets oil co heads to ease payment terms

NEW DELHI: PM (Narendra) Modi requested for review of payment terms so as to provide temporary relief to the local currency

PRIME MINISTER’S OFFICE

Amid a non-stop rise in petrol and diesel prices, Prime Minister Narendra Modi on Monday asked foreign oil companies to ease payment terms and channel their investible surplus into commercial exploitation in developing countries.

PM Modi made the request at an interaction with chief executives of top oil companies and ministers from Saudi Arabia and the United Arab Emirates (UAE).

The Prime Minister underlined that oil consuming countries, due to rising crude oil prices, were facing many other economic challenges, including serious resource crunch.

India, which imports more than 80% of its oil imports, has been under pressure as crude oil prices have surged and the rupee weakened.

“The cooperation of the oilproducing countries would be very critical to bridge this gap,” a statement by the Prime Minister’s Office said, outlining PM Modi’s four-point message to global leaders of the energy sector .

“Lastly and importantly, PM Modi requested for review of payment terms so as to provide temporary relief to the local currency,” the statement read.

The roundtable came on a day diesel price rose for the 10th consecutive day to wipe out all of the ~2.50 per litre cut in rates announced earlier this month through excise duty cut and oil company subsidy. A litre of diesel on Monday costs ~75.46 in Delhi, ~79.11 in Mumbai and ~79.80 in Chennai, while petrol costs ~82.72 in Delhi, ~88.18 in Mumbai and ~85.99 in Chennai.

At the meeting attended by heads of Indian and foreign oil companies apart from representatives of multi-lateral agencies, PM Modi also appealed for assistance in commercial exploitation of natural gas.

Union ministers Arun Jaitley and Dharmendra Pradhan; vicechairman of NITI Aayog Dr Rajiv Kumar and senior officials from the Union government and NITI Aayog were also present at the interaction. Nasa is required to inform the public of its activities under US law. “Film, TV and documentary projects are our wonderful ways of telling story,” it says

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(Top) Ryan Gosling in a scene from First Man. (Right) A 1969 copy of Newsweek magazine featuring Neil Armstrong, the first man on the moon. According to a 2008 list prepared by Bad Movie Physics, which included Space Cowboys, 2001: A Space Odyssey and Contact among other Hollywood films, only Apollo 13 and The Right Stuff were given a “clean bill of accuracy”. Reports have pointed out very minor inaccuracies in recently released First Man:

One error, according to TIME, is that the movie shows clouds at the height of

120,000 feet when the lead character looks out of his

X-15 rocket. That is twice the height at which clouds cease to exist in the Earth’s atmosphere

Another inaccuracy, according to the report, is that the spacecraft in which the character travels has a look of a used vehicle. In Armstrong’s time, all the spacecraft were single-use spaceships and had a new look

There is a third inaccuracy — a plot point about a bead of pearls. But we are not going to explain it because, at HT, we hate spoilers

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