India Russia sign first ever Term Contract to import crude oil to India

On February 5, 2020, the Minister of Petroleum and Natural Gas Shri Dharmendra Pradhan and the Chairman of Rosneft (Russia’s largest oil producing company) signed the first ever term contract. According to the contract India will import 2 million metric tonnes of Urals grade crude oil. Highlights The agreement was signed between IOCL and Rosneft. ..

Month: Current Affairs - February, 2020

Category: International Current Affairs

Topics: BPCL • Crude oil Imports • Disinvestment • India-Russia • IOCL • LNG • Natural Gas • Rosneft • Serbia

GoI misses its disinvestment target

Government of India misses its disinvestment target as the plan to sell Bharat Petroleum Corporation Limited (BPCL), Air India and Container Corporation of India has not been succeeded. Highlights The Government had planned to sell 53.3% of BPCL, 31% of Concorp as per latest market prices. The Government had set the Disinvestment target of Rs ..

Month: Current Affairs - January, 2020

Category: Economy & Banking Current Affairs

Topics: Air India • Bimal Jalan Committee • BPCL • Disinvestments • fiscal deficit • RBI

BPCL’s LPG bottling plant inaugurated in Odisha

The Bharat Petroleum Corporation Limited (BPCL) has set up the new state-of-the-art LPG Bottling Plant at Village Barkani in Bolangir district of Odisha. The LPG bottling plant with an annual capacity of filling 42 lakh cylinders has been developed by state-run BPCL. About BPCL’s LPG Bottling Plant The LPG bottling plant has been established at ..

Month: Current Affairs - December, 2019

Category: Economy & Banking Current Affairs

Topics: Bharat Petroleum Corporation Limited • Bolangir • BPCL • LPG Bottling Plant • Maharatna • Odisha

BPCL to construct new floating terminal for FLNG

India’s second-biggest public sector oil refining and hydrocarbon marketing company, the Bharat Petroleum Corporation Limited (BPCL), is investing heavily in the development of the gas business. BPCL anticipates that the energy consumption of India will undergo a major change as the focus of consumers shifts to the cleaner sources of fuel in the upcoming time. ..

Topics: BPCL • Energy • FLNG • Future • Natural Gas • PSU

MoU for sale of FASTag

A memorandum of understanding (MoU) has been signed between Indian Highways Management Company Limited (IMHCL) and leading Oil Marketing Companies (OMCs) like BPCL, HPCL and IOCL for sale of FASTags through their petrol pumps. FASTag FASTag is an electronic toll collection system operated by the National Highway Authority of India (NHAI). FASTag enables automatic deduction of toll charges and ..

Month: Current Affairs - January, 2019

Topics: BPCL • FASTag • HPCL • Indian Highways Management Company Limited • IOCL • National Highway Authority of India • NHAI • Radio-frequency identification • RFID