India’s flagship energy event observes ‘phenomenal’ GCC presence

Industry leaders participate in a session of India Energy Week 2024 in Goa on Feb. 7, 2024. (India Energy Week)
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Updated 08 February 2024
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India’s flagship energy event observes ‘phenomenal’ GCC presence

  • Top global industry leaders participate in Energy Week 2024
  • Saudi Aramco announces possibility of more investment in India

BETUL, Goa: India Energy Week, currently underway in Goa, is seeing “phenomenal” participation with delegates from Gulf Cooperation Council countries present, the host said on Thursday, as New Delhi eyes more cooperation with the region.

The Indian government’s flagship energy exhibition, running Feb. 6-9, has attracted more than a dozen ministers, industry leaders including top executives of the Saudi oil giant Aramco and the Organization of the Petroleum Exporting Countries, and some 4,000 delegates from around the world.

It is the second edition of India Energy Week, after its inauguration in Bengaluru last year. It is hosted by the Oil and Natural Gas Corp., the largest crude oil and natural gas company in India owned by the Ministry of Petroleum and Natural Gas.

“This year’s participation in IEW has been phenomenal. We have the presence of multiple GCC firms and countries here,” Rajarshi Gupta, ONGC foreign wing managing director, told Arab News.

“It is very significant. They are one of the largest groups present here, and there are multiple touchpoints with them, multiple contracts.”

During one of the event’s sessions, Aramco’s senior vice-president for liquids to chemicals development, Dr. Faisal Faqeer, told delegates that the oil giant was in investment discussions with companies in India and that “hopefully, we will see some announcements soon.”

For India, boosting cooperation with the Gulf is key to its development as one of the world’s fastest-growing major economies.

“We would like to increase this partnership,” Gupta said. “Saudi Aramco is the leader in production, it’s the leader in reserve, it’s a leader in the export of oil and gas ... With them, and their presence and their increasing presence in IEW 2023 and IEW 2024, and going forward, I believe it is an important impetus to the conference and it also will grow bigger in coming years.”

India currently imports 80 percent of its crude oil, two-fifths of which comes from Russia.

Imports from Russia have grown since the beginning of the invasion of Ukraine when Moscow offered New Delhi deep discounts on its crude. Before the war, Russia was a marginal player in the sector.


UN refugee agency chief: ‘Very difficult moment in history’

UNHCR High Commissioner Barham Salih during an interview in Rome on Monday. (AP)
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UN refugee agency chief: ‘Very difficult moment in history’

  • According to his agency also known as UNHCR, there are 117.3 million forcibly displaced people around the world from 194 countries

ROME: The first refugee to lead the UN refugee agency has said that the world faces “a very difficult moment in history” and is appealing to a common humanity amid dramatic change.
Repression of immigrants is growing, and the funding to protect them is plummeting. 
Without ever mentioning the Trump administration or its policies directly, Barham Salih said his office will have to be inventive to confront the crisis, which includes losing well over $1 billion in US support.

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There are 117.3 million forcibly displaced people around the world from 194 countries.

“Of course it’s a fight, undeniably so, but I think also I’m hopeful and confident that there is enough humanity out there to really enable us to do that,” said Salih, a former president of Iraq.
He was also adamant on the need to safeguard the 1951 refugee convention as the Trump administration campaigns for other governments to join it in upending a decades-old system and redefining asylum rules.
Salih, who took up his role as high commissioner for refugees on Jan. 1, described it as an international legal responsibility and a moral responsibility.
According to his agency also known as UNHCR, there are 117.3 million forcibly displaced people around the world from 194 countries. Salih’s challenge is supporting some 30 million refugees with significantly less funds.
In 2024 and 2025, funding from the US dropped from $2.1 billion to $800 million, and yet the country remains UNHCR’s largest donor.
“Resources made available to helping refugees are being constrained and limited in very, very significant way,” Salih said.
The Trump administration is also reviewing the US asylum system, suspending the refugee program in 2025 and setting a limit for entries to 7,500, mostly white South Africans — a historic low for refugee admittance since the program’s inception in 1980.
The Trump administration also has tightened immigration enforcement as part of its promise to increase deportations, while facing criticism for deportations to third countries and an uproar over two fatal shootings by federal officers and other deaths.
“We have to accept the need for adapting with a new environment in the world,” Salih said. 
His agency is seeking to be more cost-effective, “to really deliver assistance to the people who need it, rather than be part of a system that sustains dependency on humanitarian assistance,” he added. Salih has already met Pope Leo XIV at the Vatican. He said he was grateful for the support of the pontiff — the first pope from the US.
“The voice of the church and faith-based organizations in this endeavor is absolutely vital,” Salih said. “His moral support, his voice of the need for supporting refugees and what we do as UNHCR at this moment is very, very important.”