Friday, 27 September 2013

Moily and oily deals

Moily has lately been in the news for a lot of reasons.

a. For suggesting that petrol bunks can be closed at 8PM or so to reduce consumption [obviously, he was misunderstood or so he said after the media exactly understood what he meant.]
b. For writing imposition letters request letters to all CM's asking them to stagger office timings [for govt offices. But then, do they ever work so much? Shouldnt 3 days weeks do rather instead of staggered shift timings? Anyway, very little work gets done... so how does it matter whether it happens at 4.00PM or 4.00AM as long as it happens [or doesnt happen?]
c. For also writing to CM's to suggest that one day a week, people travel by buses.

A few more things are happening... moily and his oily ministerial secretaries and their deputy underlings are looking at more oil opportunities - oily deals if you like. They are currently in advanced negotiations with Ramirez [Venezuela Minister] for getting an agreement signed for OIL / ONGC [OVL] to get oil fields et al.

Apparently, should get done in a few weeks or so they say. Off to Caracas in a few weeks, Moily, to sign more oily deals on butter paper.

as an aside - a few suggested Iran oil too - well, we are trying it. But a lot of logistical difficulties remain.
A few:
a. Antagonise US. [dont do it excessively]
b. Insurance for ships becomes a huge problem [Iran suddenly stops the shop from leaving their port]
c. Iran takes money in rupees upto an extent (30%, if I am not mistaken) . A bilateral deal -good for India. Doesnt need to dip into forex reserves and is a win-win for both countries. but pt a & b together complicates  things to a great extent.

I track Venezuela and whether Nicolas Maduro will survive in office till next yr mid as part of GJP

Update: By happenstance. Yay, with the Iran deal done, it will be a lot more friendly regime. Next 6 months should either break or build. Time should tell.
I also realize that India has a deal with Iran in such a way that it can use Euros for payment of the rest... not necessarily USD. Interesting, that!