Latest news with #OSPs
Gulf Insider
05-05-2025
- Business
- Gulf Insider
Saudi Push Into Indian Refining Is Stalling Over Crude Supply
Saudi Arabia's progress in securing investment in two oil refineries in India is being held back by a lack of consensus around crude supply, according to people familiar with the matter. The nations agreed last month to collaborate on the two plants, as the largest oil exporter seeks to tap a massive market that will help drive global demand growth. But the early-stage discussions have stalled as Saudi negotiators push to supply half of the crude needed by the processors at official selling prices that are often above market rates, the people said, declining to be named due to the sensitivity of the talks. India wants Saudi's share of supply to be closer to its desired 20% stake in the ventures — and at a discount to so-called OSPs, the people said. India's oil ministry and the local project partners — Bharat Petroleum Corp. Ltd. and Oil and Natural Gas Corp. — didn't reply to emails seeking comment. Saudi Aramco did not immediately respond to a request for comment. State-owned Saudi Aramco is looking to help set up multibillion-dollar refineries in high-growth nations including China and India, as well as in Southeast Asia, to secure demand for its crude and ensure stability during market volatility, according to its latest annual report. Its weighted average share in overseas processors in 2024 was 35% but it supplied an average 53% of the crude they used, according to the document. The exporter is also looking to claw back market share. Saudi Arabia, the de-facto leader of the OPEC+ producer group, was once India's largest oil supplier but has seen its position in the market decline as discounted imports from Russia increase. A failure to agree on the projects would also be a diplomatic blow. Saudi Crown Prince Mohammed bin Salman — who announced the ventures at a meeting with India's Prime Minister Narendra Modi in Jeddah — had in 2019 pledged $100 billion of investments in India, but just a 10th of that has materialized. A proposed $60 billion refinery planned by Aramco, Abu Dhabi National Oil Co. and India's state firms, didn't materialize due to land acquisition issues. Plans to buy a 20% stake in billionaire Mukesh Ambani's Reliance Industries also fell through. That has increased pressure on both sides to finalize the investments in the new processors — BPCL's proposed refinery and petrochemical complex on the east coast and ONGC's on the west coast in Gujarat, the people said. However, without an agreement on discounted supplies, the Indian refiners see little reason for the Saudis to take a stake, especially as they can easily raise debt from local banks, they said. Saudi Arabia is also proposing to take a stake of as much as 15% in Indian Oil Corp.'s Panipat refinery, one of the people said, a plan which the Indian government plans to study.
Time of India
05-05-2025
- Business
- Time of India
Saudi push into Indian refining is stalling over crude supply
Saudi Arabia's progress in securing investment in two oil refineries in India is being held back by a lack of consensus around crude supply, according to people familiar with the matter. The nations agreed last month to collaborate on the two plants, as the largest oil exporter seeks to tap a massive market that will help drive global demand growth. But the early-stage discussions have stalled as Saudi negotiators push to supply half of the crude needed by the processors at official selling prices that are often above market rates, the people said, declining to be named due to the sensitivity of the talks. India wants Saudi's share of supply to be closer to its desired 20% stake in the ventures — and at a discount to so-called OSPs, the people said. India's oil ministry and the local project partners — Bharat Petroleum Corp. Ltd. and Oil and Natural Gas Corp . — didn't reply to emails seeking comment. Saudi Aramco did not immediately respond to a request for comment. State-owned Saudi Aramco is looking to help set up multibillion-dollar refineries in high-growth nations including China and India, as well as in Southeast Asia, to secure demand for its crude and ensure stability during market volatility, according to its latest annual report. Its weighted average share in overseas processors in 2024 was 35% but it supplied an average 53% of the crude they used, according to the document. The exporter is also looking to claw back market share. Saudi Arabia, the de-facto leader of the OPEC+ producer group, was once India's largest oil supplier but has seen its position in the market decline as discounted imports from Russia increase. A failure to agree on the projects would also be a diplomatic blow. Saudi Crown Prince Mohammed bin Salman — who announced the ventures at a meeting with India's Prime Minister Narendra Modi in Jeddah — had in 2019 pledged $100 billion of investments in India, but just a 10th of that has materialized. A proposed $60 billion refinery planned by Aramco, Abu Dhabi National Oil Co. and India's state firms, didn't materialize due to land acquisition issues. Plans to buy a 20% stake in billionaire Mukesh Ambani's Reliance Industries also fell through. That has increased pressure on both sides to finalize the investments in the new processors — BPCL's proposed refinery and petrochemical complex on the east coast and ONGC's on the west coast in Gujarat, the people said. However, without an agreement on discounted supplies, the Indian refiners see little reason for the Saudis to take a stake, especially as they can easily raise debt from local banks, they said. Saudi Arabia is also proposing to take a stake of as much as 15% in Indian Oil Corp .'s Panipat refinery, one of the people said, a plan which the Indian government plans to study.
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Business Standard
05-05-2025
- Business
- Business Standard
Saudi Arabia's push into Indian refineries stalled over crude oil supply
The nations agreed last month to collaborate on the two plants, as the largest oil exporter seeks to tap a massive market that will help drive global demand growth Bloomberg By Rakesh Sharma, Sudhi Ranjan Sen and Ruchi Bhatia Saudi Arabia's progress in securing investment in two oil refineries in India is being held back by a lack of consensus around crude supply, according to people familiar with the matter. The nations agreed last month to collaborate on the two plants, as the largest oil exporter seeks to tap a massive market that will help drive global demand growth. But the early-stage discussions have stalled as Saudi negotiators push to supply half of the crude needed by the processors at official selling prices that are often above market rates, the people said, declining to be named due to the sensitivity of the talks. India wants Saudi's share of supply to be closer to its desired 20 per cent stake in the ventures — and at a discount to so-called OSPs, the people said. India's oil ministry and the local project partners — Bharat Petroleum Corp. Ltd. and Oil and Natural Gas Corp. — didn't reply to emails seeking comment. Saudi Aramco did not immediately respond to a request for comment. State-owned Saudi Aramco is looking to help set up multibillion-dollar refineries in high-growth nations including China and India, as well as in Southeast Asia, to secure demand for its crude and ensure stability during market volatility, according to its latest annual report. Its weighted average share in overseas processors in 2024 was 35 per cent but it supplied an average 53 per cent of the crude they used, according to the document. The exporter is also looking to claw back market share. Saudi Arabia, the de-facto leader of the OPEC+ producer group, was once India's largest oil supplier but has seen its position in the market decline as discounted imports from Russia increase. A failure to agree on the projects would also be a diplomatic blow. Saudi Crown Prince Mohammed bin Salman — who announced the ventures at a meeting with India's Prime Minister Narendra Modi in Jeddah — had in 2019 pledged $100 billion of investments in India, but just a 10th of that has materialized. A proposed $60 billion refinery planned by Aramco, Abu Dhabi National Oil Co. and India's state firms, didn't materialise due to land acquisition issues. Plans to buy a 20 per cent stake in billionaire Mukesh Ambani's Reliance Industries also fell through. That has increased pressure on both sides to finalise the investments in the new processors — BPCL's proposed refinery and petrochemical complex on the east coast and ONGC's on the west coast in Gujarat, the people said. However, without an agreement on discounted supplies, the Indian refiners see little reason for the Saudis to take a stake, especially as they can easily raise debt from local banks, they said. Saudi Arabia is also proposing to take a stake of as much as 15 per cent in Indian Oil Corp.'s Panipat refinery, one of the people said, a plan which the Indian government plans to study.
Time of India
05-05-2025
- Business
- Time of India
Saudi push into Indian refining is stalling over crude supply
Saudi Arabia's progress in securing investment in two oil refineries in India is being held back by a lack of consensus around crude supply, according to people familiar with the matter. #Pahalgam Terrorist Attack Inside Operation Tupac: Pakistan's secret project to burn Kashmir Who is Asim Munir, the Zia-style general shaping Pakistan's faith-driven military revival 'Looking for partners, not preachers': India's strong message for EU amid LoC tensions The nations agreed last month to collaborate on the two plants, as the largest oil exporter seeks to tap a massive market that will help drive global demand growth. But the early-stage discussions have stalled as Saudi negotiators push to supply half of the crude needed by the processors at official selling prices that are often above market rates, the people said, declining to be named due to the sensitivity of the talks. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Mountain Gear for Extreme Conditions Trek Kit India Learn More Undo India wants Saudi's share of supply to be closer to its desired 20% stake in the ventures — and at a discount to so-called OSPs, the people said. Bloomberg India's oil ministry and the local project partners — Bharat Petroleum Corp. Ltd. and Oil and Natural Gas Corp . — didn't reply to emails seeking comment. Saudi Aramco did not immediately respond to a request for comment. Live Events State-owned Saudi Aramco is looking to help set up multibillion-dollar refineries in high-growth nations including China and India, as well as in Southeast Asia, to secure demand for its crude and ensure stability during market volatility, according to its latest annual report. Its weighted average share in overseas processors in 2024 was 35% but it supplied an average 53% of the crude they used, according to the document. The exporter is also looking to claw back market share. Saudi Arabia, the de-facto leader of the OPEC+ producer group, was once India's largest oil supplier but has seen its position in the market decline as discounted imports from Russia increase. A failure to agree on the projects would also be a diplomatic blow. Saudi Crown Prince Mohammed bin Salman — who announced the ventures at a meeting with India's Prime Minister Narendra Modi in Jeddah — had in 2019 pledged $100 billion of investments in India, but just a 10th of that has materialized. A proposed $60 billion refinery planned by Aramco, Abu Dhabi National Oil Co. and India's state firms, didn't materialize due to land acquisition issues. Plans to buy a 20% stake in billionaire Mukesh Ambani's Reliance Industries also fell through. That has increased pressure on both sides to finalize the investments in the new processors — BPCL's proposed refinery and petrochemical complex on the east coast and ONGC's on the west coast in Gujarat, the people said. However, without an agreement on discounted supplies, the Indian refiners see little reason for the Saudis to take a stake, especially as they can easily raise debt from local banks, they said. Saudi Arabia is also proposing to take a stake of as much as 15% in Indian Oil Corp .'s Panipat refinery, one of the people said, a plan which the Indian government plans to study.
Yahoo
29-01-2025
- Entertainment
- Yahoo
Super Bowl Illegal Streaming a Chance to Rethink Copyright Law
Super Bowl 2025 will be the most legally watched U.S. broadcast in 2025. It might also be the most illegally watched one. More from Super Bowl Ad Prices Top $8 Million as Surge Fuels Fox Sales Saquon Barkley Earns $500,000 Extra as Eagles Rush to Super Bowl Hidden YouTube TV Feature Sees User 'Surge' During NFL Playoffs As creators of live sports content struggle to stop illegal streaming, and as the big U.S. tech companies have become legitimate distributors of live sports, Super Bowl LIX could become a catalyst for lawmakers to modernize the antiquated legal framework that governs streaming. That framework is found in the Digital Millennium Copyright Act (DMCA), which President Bill Clinton signed into law in 1998. The DMCA became law at a time when many people connected to the Internet through landline phone connections—MLB wouldn't become the first pro sports league to live stream a regular season game online until 2002, and WiFi wouldn't become popular in homes until the mid-2000s. It would be another decade before 'streaming' became a common way in which consumers watched content, especially live sports. The DMCA assures content creators that works displayed on the Internet are protected by copyright law. However, the DMCA features several limitations that weaken that protection. One limitation is DMCA's safe harbor to online service providers (OSPs), including cloud service providers, search engines, and social media sites such as YouTube and Facebook. So long as OSPs 'expeditiously' remove or block an illegal stream after receiving 'proper notification of claimed infringement,' OSPs are not liable for the stream. DMCA doesn't clarify what counts as 'expeditiously,' and OSPs can take hours or days before acting—if they act at all. For creators of live sports content, the value in their creation peaks when it is 'live.' A replay or rebroadcast of a game from minutes, hours or days ago is typically not worth as much since it captures something that already took place. Also, highlights of plays from games are often made available on social media and other platforms moments after the play took place. In recent years, sports leagues have urged Congress, the U.S. Patent and Trademark Office, and the U.S. Copyright Office, among others with authority over intellectual property, to reconsider this model. In 2023, leading attorneys for several leagues—Riché T. McKnight (UFC), Ayala Deutsch (NBA Properties) and Dolores F. DiBella (NFL Properties)—wrote a letter to the USPTO arguing that illegal streaming of their broadcasts costs them and their athletes billions of dollars in revenue. One recent study calculated the amount of lost annual revenue caused by illegal streaming to be in the ballpark of $28 billion. The U.S. ranks first in visits to piracy sites, with 11% of all unlicensed streaming demand stemming from sports. The lost revenue not only impacts billionaire owners and millionaire players, the leagues say, but also employees who work in more ordinary positions, including in operations, security, food service and public relations. 'We need to pass legislation that will put teeth into the 'expeditious' removal language [from the DMCA] that will reflect the realities of live sports content,' UFC chief operating officer Lawrence Epstein told Sportico in a phone interview. 'The language, as it sits today, is designed for a Friends episode produced 20 years ago. Back then, there would be a request to take that episode down and three days later removal would happen. That approach . . . makes no sense in the context of a live sporting event where the value of the content is incredibly precious and drops after it runs.' Illegal streams also carry privacy risks for those who stream. As the Federal Trade Commission has explained, accessing an illegal stream can lead to thefts of login credentials and credit card information and other dangers associated with malware. According to Eric Elbaz, principal strategic engagement manager at cybersecurity and cloud company Akamai, state-level actors and large organized crime syndicates across China, Eastern Europe and Russia have also been linked to unlicensed video offerings. And as piracy operations become more sophisticated, some visitors may be entirely unaware that they are accessing an unlicensed feed. Elbaz said new artificial intelligence capabilities and cryptocurrencies have made it even easier to quickly launch countless sites and monetize their activity. In particular, unlicensed providers have found workarounds to get Google search exposure for piracy sites despite delisting efforts. 'Honestly, that somewhat shocked me—how quickly emergent technology is becoming available and how quickly it's being leveraged by these syndicates,' Elbaz said. Last year, Super Bowl LVIII drew 123.7 million viewers, the most-watched TV program in history. It also attracted nearly twice as many viewers as the second-most watched program in 2024, the second presidential debate (67.1 million). Less certain is the number of people who illegally streamed Super Bowl LVIII, though it's safe to assume that number is in the many millions. In 2020, piracy tracking outfit VFT Solutions detected 2,650 illegal streams of Super Bowl LIV, and those streams were watched by more than 12 million people. That estimate rose to 17 million in 2024. Other data points point in the direction of numerous illegal streamers. VPNOverview estimated that 7.7 million searched for a stream to Super Bowl LVI in 2022. In addition to adjusting definitions for what ought to count as 'expeditious' given modern technology, Epstein also sees the need for Congress to consider site blocking requirements. 'What happens is, there are these serial pirates. Illegal piracy is literally their job; it's how they make money,' Epstein noted. 'We see the same perpetrators over and over again. We need to come up with ways to address repeat offenders so that it is mandatory they cannot reappear on platforms.' Congress attempted to pass several anti-piracy measures from 2010 to 2012—the Combating Online Infringement and Counterfeits Act (COICA), the Stop Online Piracy Act (SOPA) and the Protect IP Act (PIPA). Yet the efforts sparked protests from more than 115,000 websites, including the likes of Google and Reddit, as well as their users, who expressed concerns that the site-blocking power went too far and could be overly censorious. The fight was described as 'a political coming of age for the tech industry' by The New York Times. But the industry has changed significantly in the decade since. Silicon Valley's biggest faces stood behind President Donald Trump during his inauguration, for one thing. Plus, major streaming services owned by digital behemoths, including Netflix, Amazon Prime, YouTube and Apple TV, now distribute licensed live sports—including NFL games. They have become stakeholders, like the NFL, UFC and NBA, in ensuring their content is protected from illegal streams. 'Getting the streamers involved in [urging for copyright protection reforms] is incredibly important,' Epstein observed. He highlighted how Netflix subscribers now exceed 300 million worldwide and is involved with WWE, boxing and other live events. Epstein underscored that Big Tech can provide knowledge on data protection that could benefit sports associations. 'Companies like Netflix are also very sophisticated from a technology standpoint,' Epstein emphasized. 'They're well positioned to address the piracy problem and lend their knowledge.' Last year, Charles Rivkin, the CEO of Hollywood trade association MPA, indicated that the anti-piracy battle would be heating up again. 'Site-blocking is a targeted, legal tactic to disrupt the connection between digital pirates and their intended audience,' he said during CinemaCon, referring a legal regime adopted in more than 39 countries including Canada, France and the U.K. Website blocking in large numbers has been shown to decrease piracy and increase legal sales, even if fully rooting out illegal activity remains out of reach. Currently, an adult entertainment industry trade group is challenging a Texas law that requires age verification for pornography site access. The Supreme Court's decision on the First Amendment question could shape future internet regulation debates. 'There's still a lot of political weight behind addressing piracy writ large,' American Action Forum director of tech and innovation policy Jeffrey Westling said. 'I still think that there's an avenue forward this Congress.' In a dawning political era thus far dominated by executive branch decisions coming from Trump's White House, it remains to be seen where POTUS lands on the issue. Notably, UFC's interests could carry extra weight in the deliberations, with UFC CEO Dana White nurturing a decades-long relationship with Trump. At the same time, Trump has railed against some of America's biggest broadcasters, including filing a $10 billion lawsuit in Texas against CBS over its handling of an interview with then-Vice President Kamala Harris. He could be hesitant to deliver them a policy goal long on their wish list. 'It does seem like a lot of the time the right person in President Trump's ear at the right time can have a big impact on what he does,' Westling said. Whether Trump and a new Congress take up the issue of DMCA and related reforms remains to be seen. Trump has not recently expressed an opinion on the debate. In the past, he has expressed support for strengthening first amendment freedoms while also at other times supporting crackdowns on bad actors online. Epstein believes the President and Congress will be 'receptive' to addressing 'piracy problems.' But he also cautioned that the law can only do so much. 'We know that technology tends to run way out in front of legislation.' Best of College Athletes as Employees: Answering 25 Key Questions
