HC directs govt to include MJCET in EAPCET counselling
MJCET was established in 1980, and is affiliated to Osmania University.
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Time of India
3 hours ago
- Time of India
‘More likely to happen in Lagaan, than...': Harsh Goenka mocks Trump's ‘Pakistan may sell oil to India' suggestion; here's the reality of Pak's ‘massive' reserves
Trump's assertion about assisting Pakistan in building huge oil reserves for potential exports to India appears overly optimistic. (AI image) Harsh Goenka, chairman of RPG Enterprises has mocked US President Donald Trump's suggestion that Pakistan may one day sell oil to India. Trump has said that America will help Pakistan build 'massive oil reserves' such that it may even sell to India some day. Taking a witty dig on the statement, Goenka posted on X (formerly Twitter), 'Saying Pakistan will sell oil to India is like saying a tailender will hit a triple century in a T20 match. Technically possible. Realistically? More likely to happen in Lagaan than in real life.' Earlier this week, Trump posted on Truth Social, 'We have just concluded a deal with the country of Pakistan, whereby Pakistan and the United States will work together on developing their massive oil reserves," Trump posted on Truth Social. "We are in the process of choosing the oil company that will lead this partnership. Who knows, maybe they'll be selling oil to India some day!' Also Read | Donald Trump's 25% tariff: India expects minimal impact; indicates agriculture, dairy, GM food no-go areas in trade deal talks Trump's deal with Pakistan imposes a 19% tariff on Pakistan's exports to the US. The US-Pakistan deal comes at a time when India-US trade negotiations appear to have hit a deadlock. Trump has announced 25% tariffs on India, effective August 7, 2025. He has also said that an additional penalty will be levied for India's continued imports of Russia's oil and defence equipment. Trump administration officials have said that India's Russia oil buys are an 'irritant' for the US. How 'Massive' Are Pakistan's Oil Reserves Really? Trump's assertion about assisting Pakistan in building huge oil reserves for potential exports to India appears overly optimistic. According to a TOI report, Pakistan has merely 0.02% of worldwide crude oil deposits. Pakistan's daily oil production stands at approximately 70,000 barrels, which is less than 10% of India's output. Rather than being positioned as a prospective energy exporter, Pakistan's current standing in the international oil sector remains notably insignificant! Oil Reserves: Pak Not Even a Drop According to a Reuters report, Pakistan holds proven crude oil reserves of just between 234 million and 353 million barrels, placing it at the 50th position globally in terms of crude oil reserves. For a contextual comparison, Venezuela possesses the world's largest crude oil reserves, at 303,221 million barrels, as per recent OPEC statistics! India's known crude oil reserves as of 2024 are around 4,800-4,900 million barrels, which exceeds Pakistan's reserves by more than tenfold! Although Pakistan has time and again claimed that it has huge crude oil reserves along its coastline, actual extraction of these resources has never happened. Pakistan continues to seek foreign investments to develop these potential resources. Oil Refining: India at 4, Pakistan nowhere Last year, Pakistan announced the finding of potentially substantial oil and natural gas reserves within its maritime territory. It suggested that these resources, if confirmed, could have a transformative impact on Pakistan's economic prospects. A three-year underwater survey, conducted with support from an unnamed "friendly country," identified significant submerged geological structures indicating possible oil and gas deposits. However, these preliminary findings currently lack verification. The actual presence, volume and quality of these resources remain unconfirmed, as no commercial drilling activities have been undertaken to validate the initial survey results. Oil Production: Miles Behind Even India The structural geology of the Indus Basin, shaped by tectonic activity and rich in mudstone deposits, creates suitable conditions for finding hydrocarbons. Analysis of seismic data reveals significant source rocks and possible reservoirs, yet Pakistan has not achieved successful extraction in its offshore regions. Earlier exploration efforts, including the Kekra-1 drilling operation, have not yielded positive results. Pakistan presently depends on Middle Eastern countries for its petroleum requirements through imports. The country's oil import bill stands at $11.3 billion for the fiscal year ending June 30, 2025, which is actually its highest import expenditure. The country's central bank data indicates that petroleum imports constitute approximately 20% of Pakistan's overall import costs. Also Read | After Donald Trump's 'massive oil reserves' deal, US to ship crude to Pakistan soon; here's why it's significant for Pak Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Time of India
9 hours ago
- Time of India
India's US crude oil imports surge over 50% in first half of 2025; LNG, LPG trade also expands: Report
AI-image India has significantly ramped up its crude oil imports from the United States during President Donald Trump's second term, marking a major shift in its energy sourcing strategy, according to official trade data, reported ANI- quoting sources. Imports of US crude rose over 50 per cent in the first half of 2025 compared to the same period last year. From January to June 25, India imported an average of 0.271 million barrels per day (mb/d), up from 0.18 mb/d during the same timeframe in 2024. The uptick has been especially sharp in recent months. Imports during the April-June 2025 quarter soared 114 per cent year-on-year, with the value rising from $1.73 billion in Q1 of FY24-25 to $3.7 billion in Q1 of FY25-26. 'So, in July 2025, India imported 23 per cent more crude oil from the US compared to June 2025. In India's overall crude imports, while the US share was only 3 per cent, it increased to 8 per cent in July. Furthermore, in the financial year (2025-2026), Indian companies would increase their crude oil import by 150 per cent,' the ANI sources said. The energy trade expansion is not limited to crude. Imports of liquefied natural gas (LNG) from the US nearly doubled — rising from $1.41 billion in FY2023-24 to $2.46 billion in FY2024-25. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo Liquefied petroleum gas (LPG) imports have also grown significantly. Negotiations are reportedly underway for a multi-billion dollar long-term LNG supply agreement. The growth in bilateral energy trade comes amid continued affirmations of strong diplomatic ties between the two nations. Ministry of External Affairs on Friday, reiterated its confidence in the strength of the Indo-US partnership. 'India and the United States share a comprehensive global strategic partnership anchored in shared interests, democratic values, and robust people-to-people ties. This partnership has weathered several transitions and challenges. We remain focused on the substantive agenda that our two countries have committed to and are confident that the relationship will continue to move forward,' MEA spokesperson Randhir Jaiswal said at a scheduled press conference. However, this trade relation faced a setback when Trump announced 25 per cent tariffs on India. He said that India would face a 25 per cent tariff, "plus a penalty for the above, starting on August 1"; later changed to August 7. The White House justified the move by citing India's 'obnoxious non-monetary trade barriers,' persistent trade imbalances, and strong energy and defence ties with Russia. In another remark posted on Truth Social, Trump said, "I don't care what India does with Russia. They can take their dead economies down together, for all I care. We have done very little business with India, their Tariffs are too high, among the highest in the World. Likewise, Russia and the USA do almost no business together. Let's keep it that way..." Also read: India continuing to buy oil from Russia- Report rebuts Donald Trump's 'good steps' claim Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
New Indian Express
a day ago
- New Indian Express
Telangana HC orders compensation for student denied sports quota admission
HYDERABAD: Justice T Vinod Kumar of the Telangana High Court has directed the Sports Authority of Telangana to provide compensation to M Sreeshwan, a student who was wrongfully denied admission under the sports quota despite his notable achievements in chess at national and international levels. The court ruled that the petitioner should be paid the difference in tuition fee between the college of his preference, where he would have secured admission under the sports quota, and the college where he is currently pursuing his engineering course based on general merit. The compensation should also include transportation charges incurred by the student. Justice Vinod Kumar passed the order after hearing a writ petition filed by Sreeshwan, who challenged the action of the convener, TS EAPCET-2024, Telangana Council of Higher Education, denying him admission under the sports quota, terming it as arbitrary, illegal and violative of Articles 14 and 16 of the Constitution.
