We should export water to Gulf in exchange for fuel: Goa agri minister

 If Arabs can charge us for petrol extracted from under the earth, let us do the same with water which we can source by blocking rainwater: Goa’s Agriculture Minister Ravi Naik

Water should be privatised and excess rain water should be blocked by building a network of dams in the state and exported to Gulf countries in exchange for fuel, Goa’s Agriculture Minister Ravi Naik has said. Speaking at a government function on Wednesday, Naik also said that the harvested water could also be sent to drought-prone regions in Maharashtra. “We import petrol from foreign countries. We can export them water and import petrol. Goa witnesses around 126 inches of rain. If we block this water by building dams across Goa (it can be done),” Naik said.

“The work should be given to a private company and there should be a dam in every taluka. We can send the water to Arab countries or even to Maharashtra where there is shortage. “If Arabs can charge us for petrol extracted from under the earth, let us do the same with water which we can source by blocking rainwater,” Naik said, adding that private entities should be tasked with harvesting all the rainwater and keeping some aside for use in the state…Read More

How US ending Iran sanctions waiver could affect oil markets and more

The move threatens to squeeze supplies further in a market that’s already facing supply disruptions from Venezuela to Libya and Nigeria

International News: Six months after the U.S. rocked oil markets by letting Iranian exports continue, its decision to end sanctions waivers that allowed shipments is also set to reverberate across the globe. The U.S. is said to announce Monday morning in Washington that it won’t renew exemptions from its sanctions to buyers of Iranian crude after they expire on May 2. It marks a change in direction from November last year, when the Donald Trump administration granted waivers to eight importers as it sought to temper fuel prices ahead of American mid-term elections.

The move threatens to squeeze supplies further in a market that’s already facing supply disruptions from Venezuela to Libya and Nigeria, and extend this year’s rally in global benchmark Brent crude above $70 a barrel. Prices are still below the four-year highs of over $86 they hit in October before the U.S. issued its waivers. Here are some of the potential implications of the Trump administration’s latest decision, which is aimed at piling economic pressure on Iran over the Persian Gulf state’s nuclear program by cutting off a key source of the OPEC member’s revenue.

Fate of OPEC+ Deal

The U.S. government will also announce that it got commitments from suppliers such as Saudi Arabia and the United Arab Emirates to offset the loss of Iranian crude, according to people with knowledge of the matter.

That could jeopardize the output deal between the Organization of Petroleum Exporting Countries and its allies, which have been curbing supplies since the start of the year to avert a glut. Russia, one of the partners in the pact, has already signaled that the cuts may not need to be extended. A decision is expected when the producer group known as OPEC+ meets in June.