Latest news with #DFR
Mint
26-06-2025
- Business
- Mint
Six more locations for monster reserves to stock up crude oil for India
India is doubling down to build new strategic petroleum reserves (SPR) at six proposed locations in the quest for energy security in a volatile world, two people aware of the development said. Emergency oil reserves that are stocked up while prices are low and released at times of exigencies are crucial for the world's third-largest energy consumer, which imports 85% of its crude requirements. The government has asked state-run Engineers India Ltd (EIL) to make detailed feasibility reports (DFRs) to build such new reserves at six locations, two people aware of the development said. Of these, one is proposed to be at the Mangalore Special Economic Zone in Karnataka and the other at salt caverns in Rajasthan's Bikaner. State-owned EIL, an engineering and consultancy firm focusing on the energy sector, is expected to submit its reports by the end of the year. 'EIL is doing DFR in six locations, which are close to the coast and refineries; including in Mangalore SEZ, and also salt caverns in Bikaner for strategic purposes. They haven't finalized it, with the study expected to be completed by the end of this year. The plan is to take India's reserve capacity to 90 days. That's the basic requirement," said one of the two people cited above requesting anonymity. Vital reserves During the West Asia conflict, Iran threatened to close the Strait of Hormuz in its territorial waters, through which a fifth of the world's oil cargoes pass. With India consuming 5.5 million barrels of crude oil per day (mbpd), the threat turned the spotlight on 1.5-2 mbpd oil that heads for India through this vital choke point, highlighting the need for an effective SPR programme. 'The information sought is confidential in nature, considering present environment," ISPRL's chief executive officer and managing director L.R. Jain said in an emailed reply to a query. An EIL spokesperson in an emailed response said, 'Above Information is correct to our knowledge. Please note that as part of Phase 1, a capacity of 5.33 mmt of capacity was added."'Feasibility is under advance stage of finalization," the EIL spokesperson added. Queries sent to a spokesperson of India's petroleum and natural gas ministry on late Tuesday remained unanswered. Conflict concerns SPRs are built underground in strategically chosen locations, often near refineries and ports, like rock caverns or salt caverns. India has been stocking up oil ever since opening its first SPR in Visakhapatanam a decade ago; however, the latest push comes against the backdrop of a 10-day conflict in West Asia, home to some of the world's biggest oil fields, exposing vulnerabilities on the energy front. Indian Strategic Petroleum Reserves Ltd (ISPRL), a state-run company, has built reserves totalling 5.33 million metric tonne (mmt) at Vishakhapatnam (1.33 mmt), Mangaluru (1.5 mmt) and Padur (2.5 mmt). The UAE's Abu Dhabi National Oil Co. (Adnoc) has partnered with India's strategic crude oil reserve programme, leasing capacity from the reserves. The government is also looking to secure participation from more global energy majors. In the second phase, SPRs of 6.5 mmt are planned in a public-private partnership mode, at Chandikhol in Odisha (4 mmt) and Padur in Karnataka (2.5 mmt). The six new locations being explored will be in addition to these. India currently has emergency reserves of crude oil and petroleum products equivalent to 77 days of net imports. This includes the capacity at SPRs, as well as the stocks maintained by state-run oil companies. For comparison, member countries of the International Energy Agency (IEA) maintain emergency stocks equivalent to at least 90 days of net imports. This assumes significance for India given its dependence on imported crude, and the fact that oil comprises about 30% of its total imports. In such a scenario, volatility and higher prices impact the country's trade deficit, current deficit and eventually, economic growth. Filling supply gaps India's current SPR capacity of 5.3 million tonnes is enough to meet just 9.5 days of its oil needs. According to data from the standing committee report on petroleum and natural gas submitted to the parliament in December 2024, 3.6 million tonne capacity was filled till October 2024. Crude oil approached nearly $80 per barrel as the Israel-Iran conflict broke out, before easing on Tuesday after the rivals reached a ceasefire. At the time of writing, the August contract of Brent on the Intercontinental Exchange was trading at $67.74 per barrel, higher by 0.92% from its previous close. Similarly, the August contract of West Texas Intermediate (WTI) on the NYMEX rose 0.87% to 64.93 per barrel. Prashant Vasisht, senior vice-president and co-group head, corporate rating at Icra Ltd said: "Given that India does not have a significant domestic production so far, having strategic reserves for emergency situations is important. Because, a geopolitical crisis may stretch from a few days to months, and India needs to ensure that any supply gap can be immediately filled to meet the demand for that period." He added that even considering energy transition, India's demand for petroleum products like petrol and diesel will continue to grow for at least the next 15 years. "So, the expansion of strategic reserve capacity is critical for India," Vasisht added. Amit Kumar, Partner and Leader, Energy & Renewables at Grant Thornton Bharat said, "India needs to increase its strategic reserves significantly to reach the targeted 90 days of storage, and to ensure that in case of a crisis, the reserves can be used. However, these reserves come with huge investment requirements, and the government may also look at getting in global players, which would help in hedging their investments." Expenditure According to industry estimates, building reserves of 1 mt requires capital expenditure of ₹2,500 crore. In November 2021, India agreed to release 5 million barrels from its reserves to cool global crude oil prices, in coordination with other major oil consumers including the US, China, Japan and South Korea. Also, India bought oil at $19 a barrel in 2020 to fill its reserves, and in the process, saved $685.11 million. 'Government and OMCs (oil marketing companies) evaluate, from time to time, the possibility of augmentation of storage capacities based on technical and commercial feasibility. Assessment of new sites for establishing additional petroleum reserves is a continuous process," minister of state (MoS) in petroleum and natural gas ministry Suresh Gopi informed the Lok Sabha in a written reply on 20 March, according to a government statement. India imports around 244 million tonnes of crude oil annually, accounting for over 85% of its total crude oil requirement. It has the option to source crude oil from 39 countries. In the backdrop of the West Asia crisis, New Delhi evolved an oil sourcing strategy that involves bypassing the Strait of Hormuz via two pipelines; tapping into the global reserves of Adnoc and Saudi Aramco; and significantly increasing imports from the US, as reported by Mint earlier. The two pipelines, which run east to west across the Arabian peninsula, was planned to be tapped if Iran closes the Strait. The first is Adnoc-operated 360-km Habshan-Fujairah strategic oil pipeline with a 1.5 million barrels per day (mbpd) capacity that opens to the Gulf of Oman; and the Saudi Aramco-operated 1,200-km East-West crude oil pipeline with a 5 mbpd capacity that offers access to the Red Sea.
Time of India
22-06-2025
- Business
- Time of India
TN floats tenders to set up 118-acre eco-park in MRC
Chennai: Nearly 10 months after it took over the 160-acre Madras Race Course campus at Guindy, the govt has floated a 25-crore tender to hire a consultant to prepare a detailed feasibility report (DFR) for an eco-park on 118 acres. The DFR must be finalised within 10 months of the award of tender. It will have the landscape plan with 3D views and walkthroughs, following which the horticulture department will execute the project. The DFR will also estimate the cost. Govt sources said they envisaged a forest experience area, flower tunnel, bonsai garden, and glass houses with exotic plants in the eco-park. It will also feature gazebos, footpaths, irrigation, garden illumination, a cafeteria, and a children's play area. Director of the horticulture department, Kumaravel Pandiyan, said they will start with flower beds soon, followed by the irrigation system. "We have also decided to plant neem, pungam, poovarasu, and venmab trees across the campus," he said. In Sept 2024, the state revenue department claimed possession of the 160-acre property terminating a 74-year-old lease of Madras Race Club (MRC). Months later, 118 acres, valued at about 4,800 crore, was handed over to the horticulture department for the eco-park. Despite this, the MRC authorities continued to manage the premises. GCC dug three ponds on the campus but did nothing else. When TOI visited last week, MRC did not permit entry on the campus. MRC's chief security officer Kennedy said the club only managed the premises and was in "discussions with the govt" about the maintenance. "The ponds too were not maintained. Nobody came here since they were dug, and we are managing it," he said. The horticulture director said only 118 acres, which comprises the green area, was maintained by the horticulture department. The rest of the campus, including the buildings, was retained by the revenue department. Despite repeated visits to the Chennai Collectorate, TOI could not meet district revenue officer S Geetha or collector Rashmi Siddarth. With MRC controlling entry and exit to campus, how will the public access the eco-park? Horticulture department officials said such issues will be resolved in the coming months. "We got possession in Sept only after some resistance. It will be sorted," said V Dakshinamoorthy, horticulture department secretary.
Yahoo
13-06-2025
- Yahoo
Grand Chute Police Department first to adopt drones into their new first responder program
GRAND CHUTE, Wis. (WFRV) – The Grand Chute Police Department has added a new fleet to their squad, becoming the state's first Drone as First Responder program (DFR). Early results of the program are positive and have become a key way for the officers to assess a call. Green Bay Police Chief Chris Davis provides details on local immigration enforcement policies 'Not only can we respond quicker, we can provide that information back to the officers to aid in their response,' Captain David Maas said. 'But it also gives the officers more information to act upon when on a call.' Officers must get certification to use the drones. Once certified, officers may fly the drones from the station to see the progress of the call and how many officers will be needed. 'This helps with resource utilization and management. We can use the drone to identify what needs an officer to respond,' Captain Maas said. '[We can determine] how many officers might be required based upon what we see through the drone feed.' After having the drones out and responding to calls, many within the department are reportedly pleased with the early data, seeing fewer officers going out on calls they normally would have without the assistance from drones. Two Rivers K9 helps find suspect of high-speed pursuit that spanned 3 Wisconsin counties 'I was able to utilize the drone to go find that suspicious vehicle, I found that person,' Lieutenant Mike Lichtensteiger said. 'Turns out that person was doing nothing wrong; it prevented an officer's response, so officers didn't even respond to that call.' The department is hoping to add another drone, allowing them to use that one to assist on calls on the south side of the city. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
12-06-2025
- Yahoo
Tools and technology: ‘Drone as a First Responder' piloted in Lenexa
LENEXA, Kan. — Police in Lenexa are using innovative tools and technology to keep officers and the community safe when responding to emergency calls. The 'Drone as a First Responder' program was introduced to Lenexa in March. It's being added to the department's already existing drone fleet. 'Right now, we believe we are the first in the Kansas City Metro to establish a 'Drone as a First Responder Program,'' Officer Danny Chavez said. Lenexa resident finds bobcat kitten sheltering inside home during recent storm It supplies eyes on the scene before officers arrive. The collaboration is with the Lenexa Fire Department, and it's used within 'any call' where responders think a difference could be made. Drones, though, aren't new to Lenexa, but having one be deployed remotely is. 'We can get a drone over the scene minutes before an officer arrives and feed real-time information to our dispatchers and our officers,' Officer Danny Chavez with Lenexa PD shared. So far, success has been seen; it's shortened response times. 'We've seen two minutes shaved off our response time,' Chavez said in reference to emergency response calls. There has also been a reduction in response times, on average, by four minutes with non-emergency calls, too. From March to May, this specific drone has been used nearly 130 times. 'That was from everything from a suspicious person wandering in the area, that we wanted to check out before officers got on scene, to car crashes and disturbances and active thefts, etc.' Man charged in connection with death of Platte County sports reporter shot on I-29 You can see, highlighted in yellow, when this DFR (Drone as a First Responder) drone was deployed during recent emergency calls. There will be an amendment to the 2025-2029 Capital Improvement Program to include the Drone as a First Responder Program and an agreement with Paladin Drones, Inc. 'The Drone as a First Responder Drone, we've just been piloting one over the last couple of months, and we were just approved by the governing body here in Lenexa to purchase six more.' There will be seven total of this kind operating in Lenexa. You can read the June 3 Lenexa City Council agenda here. 'The 2025-2029 Capital Improvement Program needs to be amended to add funds for the first year of the full implementation of the Drone as First Responder (DFR) Program, which is $300,535. Annual maintenance costs for years two through five are $173,700 and will be paid from the Police Department's operating budget. The total five-year cost is $995,335,' a Lenexa City Council document reads. Over the next few months, the additional six drones will be stationed throughout the city, having a home base, and making sure the community is covered. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CNBC
10-06-2025
- Business
- CNBC
7. Flock Safety
Founders: Garrett Langley (CEO), Paige Todd, Matt Feury, Bailey QuintrellLaunched: 2017Headquarters: Atlanta, GeorgiaFunding: $957.5 million (PitchBook)Valuation: $7.5 billion (PitchBook)Key Technologies: Artificial intelligence, cloud computing, edge computing, machine learning, Internet of ThingsIndustry: Public safety, defensePrevious appearances on Disruptor 50 list: 0 Flock Safety, a police tech company from Atlanta, kicked off intense competition in the crime-fighting business this year. Flock Safety sells surveillance technology, including light-post mounted cameras, license plate reading systems, and drones, to police departments, private sector companies and communities concerned about crime. Flock Safety says its technology was used in 10% of all successful crime investigations in the country, and in the successful recovery of more than 1,000 missing persons. Recently, its system was used to help find a missing person with dementia in Indianola, Iowa, after an alert from a license plate camera. In another success story, Flock helped track down an armed man in New Mexico, who was wanted on suspicion of a shooting in Oklahoma. Flock has a new coffer to help its growth: It recently announced a $275 million round and 2024 revenue of $300 million, a 70% year-over-year increase. With investors including Tiger Global, a16z, and Matrix Partners, Flock Safety's scale and growth position it for an IPO within the next few years. In October 2024, Flock Safety acquired Aerodome, a pioneer in DFR technology for aerial surveillance; it plans to build a 100,000 square foot drone manufacturing facility in Atlanta. It is not just police departments using the technology. Flock Safety says it now works with seven of the 10 largest shopping malls in the U.S., and 10 out of 40 of the largest U.S. health-care providers. It continues to add customers from the public sector, last year bringing on major U.S. cities and state agencies as new customers, including Hempstead, NY, San Francisco, CA; Austin, TX; and the California Highway Patrol. The established player in its industry is Axon, a publicly held company founded in 1993. With annual revenue over $2 billion and America's highest-paid CEO, according to a recent Wall Street Journal analysis, Axon is known for its Taser technology. But Axon is now following Flock Safety's lead, recently announcing that it is adding light post-hung video surveillance cameras and drones. It also announced a new collaboration with Amazon's camera company Ring. The competition may come down to which company – others compete in the space as well, including Verkada, a Silicon Valley startup with a valuation of $4.5 billion, according to PitchBook – can spread the widest and easiest-to-use surveillance net that integrates information across public and private sectors and across America's fractured municipal police system.
