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Must help each other during crisis: PM to global community_我的网站

A |     New Delhi, Oct 11 (UNI) There is a need for an institutional approach by the international community to help each other during a crisis, Prime Minister Narendra Modi said on Tuesday adding that "the Covid-19 pandemic should have been a wake-up call for taking everyone along".

The Prime Minister was addressing the United Nations World Geospatial International Congress via video message.

"Global organisations like the United Nations can lead the way in taking resources to the last mile in every region... Hand-holding and technology transfer are also crucial in fighting climate change," Modi said.

He suggested that best practices may be shared for saving our planet.

Modi pointed out that the theme of the conference, 'Geo-enabling the Global Village: No one should be left behind' can be seen in the steps India has taken over the last few years.

"We have been working on a vision of Antyodaya which means empowering the last person at the last mile, in a mission mode," he said.

"450 million unbanked people, a population greater than that of the US, were brought under banking net and 135 million people, about twice the population of France, were given insurance," he said.

He said that the sanitation facilities were taken to 110 million families and tap water connections to over 60 million families in India.

India is ensuring no one is left behind, the Prime Minister added.

"In India, technology is not an agent of exclusion. It is an agent of inclusion," Modi said.

He highlighted the role of geospatial technology in driving inclusion and progress.

The role of technology in schemes like Svamitva and housing, and the outcomes in terms of property ownership and women empowerment, have a direct impact on the UN's Sustainable Development Goals on poverty and gender equality, the Prime Minister emphasized.

Citing the example of the South Asia Satellite for facilitating communication in India's neighbourhood, the Prime Minister said that India has already set an example in sharing the benefits of geo-spatial technology.

Modi underscored the endless possibilities that geo-spatial technology offers. These include sustainable urban development, managing and mitigating disasters, tracking the impact of climate change, forest management, water management, stopping desertification and food security.

He expressed wish that the conference becomes a platform to discuss developments in such important areas.

"With the stakeholders of the global geo-spatial industry coming together, with the policy makers and academic world interacting with each other, I am confident that this conference will help steer the global village into a new future," the Prime Minister concluded.

The Congress is being attended by over 2,000 delegates including 700 plus international delegates and participants from about 120 countries.

UNI ASU ING。    Chevron is buying Hess Corp. for $53 billion and it’s not even the biggest acquisition in the energy sector this month as major producers seize the initiative while oil prices surge.Crude prices rose sharply in early 2022 with Russia's invasion of Ukraine and are hovering around $90 per barrel after ticking another 9% higher this year. That has made big drillers cash rich and they are looking for places to invest. The Chevron-Hess deal comes less than two weeks after Exxon Mobil said that it would acquire Pioneer Natural Resources for about $60 billion. Upward pressure on oil prices are being applied from a number of fronts including the war in Ukraine. Oil markets are being stretched by cutbacks in oil production from Saudi Arabia and Russia, and now, a war between Israel and Hamas runs the risk of igniting a broader conflict in the Middle East. While attacks on Israel do not disrupt global oil supply, according to an analysis by the U.S Energy Information Administration, “they raise the potential for oil supply disruptions and higher oil prices.”Chevron said Monday that the acquisition of Hess adds a major oil field in Guyana as well as shale properties in the Bakken Formation in North Dakota. Guyana is a South American country of 791,000 people that is poised to become the world’s fourth-largest offshore oil producer, placing it ahead of Qatar, the United States, Mexico and Norway. It has become a major producer in recent years with oil giants, including Exxon Mobil, China’s CNOOC, and also Hess, squared off in a heated competition for highly lucrative oil fields in northern South America.“This combination is aligned with our objective to safely deliver higher returns and lower carbon,” Chevron Chairman and CEO Mike Wirth said in prepared remarks. “In addition, Hess increases Chevron’s estimated production and free cash flow growth rates over the next five years, and is expected to extend our growth profile into the next decade supporting our plans to increase our peer-leading dividend growth and share repurchases.”=Chevron is paying for Hess with stock. Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. Including debt, Chevron valued the deal at $60 billion. And even with alarms being raised over climate change after a summer of record-smashing temperatures, elevated energy prices have driven more exploration and more drilling, and big payouts for investors. There have been a number of acquisitions focused on U.S. shale fields and another round of consolidation in the energy sector began during the pandemic as big producers sought to cut costs. In the summer of 2020, Chevron announced that it was buying Noble Energy for $5 billion. Chevron made the deal when crude prices were down more than 30% in the midst of the coronavirus pandemic. That same year, ConocoPhillips bought shale producer Concho Resources in an all-stock deal valued at $9.7 billion.Last month Britain gave the go-ahead for a major oil and gas project in the North Sea, ignoring warnings from scientists and the United Nations that countries must stop developing new fossil fuel resources if the world is to avoid catastrophic climate change.Chevron said the deal will help to increase the amount of cash given back to shareholders. The company anticipates that in January it will be able to recommend boosting its first-quarter dividend by 8% to $1.63. This would still need board approval. The company also expects to increase stock buybacks by $2.5 billion to the top end of its guidance range of $20 billion per year once the transaction closes.The boards of both Chevron and Hess have approved the deal announced Monday after six months of negotiations, and is targeted to close in the first half of next year. It still needs approval by Hess shareholders. John Hess, the company's CEO, is expected to join Chevron’s board. His family owns a large chunk of Hess. Shares of Chevron Corp., based in San, Ramon, California, declined more than 3% Monday. Share of Hess Corp., based in New York City, fell slightly.。

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