ONGC net soars over eightfold as crude price offsets output drop

State-owned energy explorer posts Q1 profit of ₹4,335 cr.; oil production slips 5%

State-owned Oil and Natural Gas Corp. (ONGC) reported net profit soared by almost 800% in the first quarter of the current fiscal year after more than a doubling of oil prices compensated for a decline in crude production.

Net profit in April-June at ₹4,335 crore was 772.2% higher than the ₹497 crore in the first quarter of the previous fiscal when demand as well as price had plummeted due to the COVID-19-related lockdown, the company said in a statement.

The company got $65.59 for every barrel of crude oil it produced and sold in the first quarter of the 2021-22 fiscal as compared with $28.87 per barrel realisation in April-June 2020.

Gas price was lower by a quarter at $1.79 per million British thermal unit.

The company produced almost 5% less crude oil at 5.4 million tonnes in the quarter while natural gas output was 4.3% lower at 5.3 billion cubic metres.

Oil, gas output slide

Of the oil production, ONGC produced 4.6 million tonnes from fields it operates and another 0.55 million tonnes from those in joint ventures with other partners. Own production was down 4.2% and joint venture output declined 2.8%.

ONGC’s own gas production slid 5.3% at 5.1 billion cubic metres while that of joint venture fields rose by a third to 0.2 billion cubic metres. Overall the gas output declined 4.3% to 5.3 billion cubic metres.

Gross revenue rose 77% to ₹23,022 crore.

Free Comic Book Day Revived After Two-Year Pandemic Hiatus

It has been said that “free” is the most beautiful word in the English language. Add “comic book” to that and you have geek nirvana.

Today marks the return of Free Comic Book Day, a promotion staged by retailers to drive traffic and promote readership. The event had been held in the first week of May, but the pandemic warped and woofed those plans, with most retailers opting-out of single-day events or live promotions.

Today’s  event is being held over one or two days, specific to certain locations.

Comic book retailers, publishers, suppliers and distributors are involved in Free Comic Book Day, which, as tht title suggests, will give you a freebie, with each location determining the rules for obtaining same and titles limited. Diamond Comic Distributors is providing logistics, marketing and public relations

The event has been leveraged over the years by film studios as well, who use it as an awareness tool for upcoming super-hero cinema.

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Participants in the Los Angeles area include Hollywood’s Golden Apple Comics, Comics Factory in Pasadena, and Legacy Comics in Glendale. Some locations are using the event as a fundraiser for various comics charities, including the Comic Book Legal Defense Fund and Comic Books for Kids, which does outreach with hospitals for children.

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Motorcycle crash closes Peña Boulevard in Aurora – The Denver Post

A vehicle-vs.-motorcycle crash at Peña Boulevard and 40th closed down the southbound side of Peña Boulevard on Saturday night, according to Aurora police.

In a tweet, the police said serious injuries have been reported.

This story will continue to be updated

U.S. To Host Summit Of The Americas For The First Time Since 1994

The White House has reaffirmed its commitment to hosting the next Summit of the Americas, scheduled to take place next summer.

The Biden administration said in a Thursday statement that it will be the first time the U.S. has hosted the summit ― which is the only meeting of all leaders from North, South and Central America, as well as the Caribbean ― since the inaugural year of the gathering in 1994.

Donald Trump was the first U.S. president to skip a Summit of the Americas, choosing in 2018 to not attend the meeting. The decision was lambasted by some analysts at the time as a “shocking abandonment” of regional leadership.

Adam Ratzlaff, a researcher of Latin American foreign and public affairs, said in an opinion piece earlier this year that observers were “cautiously optimistic“ that the United States’ hosting of the 2022 summit could mark the beginning of a positive new chapter for regional cooperation.

Leaders “across the Americas should embrace the upcoming summit as an opportunity to improve and invigorate hemispheric affairs,” Ratzlaff said.

Miami was the host city of the first Summit of the Americas, which is held every three years, but next year’s host city remains unknown. The White House said it would be releasing more details about the 2022 summit at a later date.

Man Stabbed Outside LA City Hall Amid Covid Vaccine Mandate Protest

A man was stabbed outside Los Angeles City Hall on Saturday, amid a protest against Covid-19 vaccination mandates.

The Los Angeles Police Department took to Twitter to confirm the news, noting that no arrests have been made, but that an investigation into the attack is ongoing.

“LAPD is monitoring a protest at the south lawn of the LA City Hall. We are on scene to maintain order after a fight broke out,” a spokesperson for the Department tweeted at 3:15 p.m. “We are aware of one male that was stabbed and is being treated by LAFD.”

“We made one transport to a hospital (from the demonstrations) but I don’t have any patient condition information,” added Los Angeles Fire Department spokeswoman Margaret Stewart.

The “choose freedom march” against mandatory vaccinates, vaccine passports, and what organizers referred to as “medical tyranny” kicked off at City Hall at 2 p.m, and was ultimately declared an unlawful assembly by the LAPD, according to media reports.

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Just an hour earlier, an opposing group denouncing anti-vaxxers held a protest at the same venue.

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