RIL’s new gas field, US softens its policy stance and ban on Indian travellers: Three things Teji Mandi investors should know on April 26, 2021
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RIL-BP Partnership

Reliance Industries (RIL) and British Petroleum have started operations at the Satellite Cluster gas field. It is located at the Krishna Godavari block 6, off India's eastern coast.

This Satellite Cluster is the second one to come onstream. Earlier, R Cluster had started operations in December 2020. The work on one more cluster is currently underway. It is expected to come onstream towards the second half of 2022.

With the commencement of the new cluster, India's gas production will reach up to 6 mmscmd. Production from both these clusters is expected to contribute about 20% of India's current gas production.

Better Late than Never

The US has changed its stance and agreed to supply necessary raw materials to India for the production of vaccines.

The United States will immediately provide the supplies of therapeutics, rapid diagnostic test kits, ventilators, and personal protective equipment to India, the White House said in a statement. The United States has restricted the import of raw materials in order to vaccinate its own people.

The US' policy has received sharp criticism in India considering it is sitting on a huge pile of vaccine doses. India, on the other hand, is struggling to vaccinate its population.

Indifferent policy stands from the US even threatened to strain the developing partnership of both the countries. However, the change in the US' approach will go a long way in restoring the trust.

International Travelling Ban

Under the impact of the strong COVID-19 wave, Australia is considering banning flights from India.

The National Security Committee of Cabinet is likely to make a decision about this on April 27. Australia is also likely to send oxygen, ventilators, and personal protective equipment (PPE) to India to help the country.

The list of countries banning travellers from India is growing fast. Travel from India is now prohibited in countries such as the United Kingdom, Hong Kong, Canada, Italy, and Singapore. The US and Germany have so far issued advisories on this matter.

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Free Press Journal