UAE's Adnoc to store crude in India's strategic facility; to give two-third of oil for free

[ni8mare]

It will not make any sense they produce oil then arrange to send India for storing and giving a big chunk of oil to India as a rent then if they need to sell it again they arrange transport to send it to another country..
1. Huge transportation charges on UAE
2. Big chunk of oil to India as a rent.
3. Where is the profit? even this will be a great loss for UAE. only an idiot can draw such stupid plan
4 If they need to store oil they have vast land to store the oil inside UAE to save the transportation charges + huge rent.

This new is a big joke nothing else.

Because unlike pakistan india happen to have worlds largest oil refinery ............and if read the news correct which i am afraid you haven't ......talks of storing crude oil not refine oil .............rest if you have common sense will connect the dots

 

[Mr.Nair]

UAE-India relations are solid, says Mohammad | GulfNews.com

 

[ni8mare]

Thats not what your government things..black money made out of scamming Indian government and parked in UAE banks..UAE ranks No.1 in money laundering now..I personally know many..

Its same every country .........not just india

btw why are repeating same thing again again??

 

[Daneshmand]

Two thirds for free? That is 67%. Very generous terms. It is almost giving the oil for free consumption by India and not for storage. It is like a bakery gives you every morning, 3 slices of cake for storage and tell you that you can eat 2 of the 3 slices. I bet the next morning, the bakery would not want to get back that remaining slice either and will let you eat that too for free. After all it is a bakery and it cooks new cake every morning. Similarly here, UAE is an oil producing country, why would it want its oil back.

Even the storage idea does not make sense. Since oil is naturally stored in UAE, why would they want to store it for any length of time. Anyways, Indians should enjoy the free ride. It will boost India's economy. It is free energy which can be put to work (or even just re-export it).

It will not make any sense they produce oil then arrange to send India for storing and giving a big chunk of oil to India as a rent then if they need to sell it again they arrange transport to send it to another country..
1. Huge transportation charges on UAE
2. Big chunk of oil to India as a rent.
3. Where is the profit? even this will be a great loss for UAE. only an idiot can draw such stupid plan
4 If they need to store oil they have vast land to store the oil inside UAE to save the transportation charges + huge rent.

This new is a big joke nothing else.

It is not being done for economics and profits. UAE is doing this to spite Pakistan. Have you forgotten UAE's Gargash threat, over Pakistan's refusal to send cannon-fodders to Yemen last year? Pakistan has to pay a heavy price: UAE minister | Top Story | thenews.com.pk

 

[Mr.Nair]

Two thirds for free? That is 67%. Very generous terms. It is almost giving the oil for free consumption by India and not for storage. It is like a bakery gives you every morning, 3 slices of cake for storage and tell you that you can eat 2 of the 3 slices. I bet the next morning, the bakery would not want to get back that remaining slice either and will let you eat that too for free. After all it is a bakery and it cooks new cake every morning. Similarly here, UAE is an oil producing country, why would it want its oil back.

Even the storage idea does not make sense. Since oil is naturally stored in UAE, why would they want to store it for any length of time. Anyways, Indians should enjoy the free ride. It will boost India's economy. It is free energy which can be put to work (or even just re-export it).

India soon will become world 3rd largest oil consumer behind US,China.World's biggest oil refinery is also located in india.

 

[Daneshmand]

India soon will become world 3rd largest oil consumer behind US,China.World's biggest oil refinery is also located in india.

Well, population wise India actually deserves to be the second largest consumer of energy in the world behind China.

 

[Mr.Nair]

Well, population wise India actually deserves to be the second largest consumer of energy in the world behind China.

That's will not happen any time soon as look at US, they consume almost twice than China.

 

[Daneshmand]

That's will not happen any time soon as look at US, they consume almost twice than China.

I know. The world is not a fair place!

 

[Mentee]

did someone say we should accept israel ?

Two thirds for free? That is 67%. Very generous terms. It is almost giving the oil for free consumption by India and not for storage. It is like a bakery gives you every morning, 3 slices of cake for storage and tell you that you can eat 2 of the 3 slices. I bet the next morning, the bakery would not want to get back that remaining slice either and will let you eat that too for free. After all it is a bakery and it cooks new cake every morning. Similarly here, UAE is an oil producing country, why would it want its oil back.

Even the storage idea does not make sense. Since oil is naturally stored in UAE, why would they want to store it for any length of time. Anyways, Indians should enjoy the free ride. It will boost India's economy. It is free energy which can be put to work (or even just re-export it).



It is not being done for economics and profits. UAE is doing this to spite Pakistan. Have you forgotten UAE's Gargash threat, over Pakistan's refusal to send cannon-fodders to Yemen last year? Pakistan has to pay a heavy price: UAE minister | Top Story | thenews.com.pk

we deserve more of these punishments so that we may finally come to our senses

 

[PurpleButcher]

Thanks Allah, Now i can argue better with the champions of Ummah in Pakistan ...
lets look at the positive side

 

[Max]

@Daneshmand i heard UAE occupies Iran's land? When are u going to librate them? We can work with you, these terrorists scums of UAE along with others are responsible for terrorism in balochistan and sistan since Gawadar and Chabahar development will turn UAE into mere gas station.

 

[Daneshmand]

@Daneshmand i heard UAE occupies Iran's land? When are u going to librate them? We can work with you, these terrorists scums of UAE along with others are responsible for terrorism in balochistan and sistan since Gawadar and Chabahar development will turn UAE into mere gas station.

It is actually other way around. UAE claims three Iranian islands as their own, and they even took the matter to international court and they lost. They went to UN, and they were kicked out. They raised it in OIC and the case was tossed out. How can a country that came to being in 1971 claim lands from a country that has been sitting here for the past 7000 years, is just beyond me.

But yeah, UAE can sometimes be a pain in the neck. As you know with the situation in Balochistan since they want to protect Dubai. UAE has only two things, oil and Dubai. With low oil prices, Dubai is even now more important to them. So expect they raise the heat even more in Balochistan and even in your internal politics (Dubai is a save heaven for the crooked and corrupt politicians of the whole region from Bangladesh to Egypt) since with Chinese silk route and CPEC coming to action, Dubai's central position will be threatened so UAE might start to stab in the back.

 

[Spy Master]

Its just Economical Ties..Not the other way around as some happen to be live in UAE people are implying...Last I checked it is Retired PAF People (Including my relative) are Serving in UAE AF and UAE Appointed Ex. Head of ISI as its Security Advisor...! But some people here just said "UAE DESPERATE FOR INDIA" Lol...!

Ex Head of I.S.I Ahmed Shuja Pasha has been appointed as advisor on health affairs in U.A.E | Dubai Post

 

[PARIKRAMA]

From my official work, i am pasting a snippet update as on last year.. Dont ask me for full report, as i cannot give here.. Its in fact quoting another source again outside my ability to paste here (its quoting Oxford Institutes of Energy Studies )

Originally this was cited as deal

How to finance this deal ?

Few solutions

The present outcome is based on negotiations from both sides and thus, i believe the 33% of Adnoc reserve would be available for market consumption or their personal clientele.

In effect the time value of money and market rate shock for crude price going up is safeguarded for 67% of the Adnoc reserves in ISPRL. Adnoc has so far selected Japanese company Inpex, Korean firm GS Energy, and French oil giant Total for the concessions arrangement.

In a nutshell

• Adnoc says 0.75 MT or 6 million barrels of oil storage approved.
• India buys this 6 million barrels at say USD 28 for example.. (present market rate)
• So India invests USD 168 Millions for 6 Million barrels
• Imagine after 5-10 years crude is at USD 60 and a emergency came up
• So India can use 67% of the reserves or ~ 4 Million Barrel for consumption
• Adnoc can use 2 Million barrels for its own clientele or trading and use the benefit of market rates for themselves.
• Thus India insulated herself from a price shock for 4 Million barrels for USD (60-28) =USD 32
• Imagine USD 32 x 4 million = USD 128 Mn savings or Rs 857 Crs savings at USD/INR @67
• Market rate would have been USD 60 x 4 million = USD 240 Mn or Rs 1608 Crs at USD/INR @67+ transportation cost for emergency + forex fluctuation risk...
• The higher the crude price the better will be the benefit for GOI and ISPRL

@Daneshmand @Levina @MilSpec @AUSTERLITZ @SpArK @WAJsal @Icarus @Slav Defence @Abingdonboy @nair @others

 

[Mr.Nair]

India and UAE agreed to utilize their good ties to realize a potential $75 billion investment commitment by the UAE in Indian infrastructure.

UAE, India trade tops Dh216bn in one year - Emirates 24|7

@Beef Bhaijan @Muhammad Omar @RiazHaq @Zarvan @Areesh @Ammara Chaudhry