crude oil: GK, Current Affairs, Questions, Trivia and News

IOC signs MoU with Russia’s Rosneft for crude oil imports

Indian Oil and Gas company, the Indian Oil Corporation recently signed an MoU with Russian energy firm, Rosneft for importing Crude Oil from Russia. The crude oil purchase agreement was signed during a meeting between Union Minister of Petroleum and Natural Gas Dharmendra Pradhan and the Chairman and CEO of Rosneft, Igor Sechin. Under the agreement, Russia ..

PM Modi awarded UAE’s Highest Civilian Award

Indian Prime Minister Narendra Modi was honored with the Order of Zayed which is the highest civilian award of the United Arab Emirates. He was awarded by the Crown Prince of UAE Mohamed bin Zayed Al Nahyan on 24th August, 2019. Currently, PM Modi is on the second leg of his three-nation international tour to ..

ONGC’s Energy Strategy 2040

India’s foremost Oil and Gas Exploration & Production (E&P) PSU, the Oil and Natural Gas Cooperation has set its target to double the oil and gas production from its domestic and foreign hydrocarbon reservoirs. It has named this plan the ONGC Energy Strategy 2040. What is ONGC’s Energy Strategy 2040? As per the current chairman ..

Jamnagar Refinery to produce only Jet Fuel and Petrochemicals

In light of the growing uncertainty over the future of gasoline-powered cars, one of the world’s largest oil refineries and India’s largest oil refinery, the Reliance Industries owned Jamnagar Refinery has decided to eliminate most of liquid fuels portfolio to produce only a specific variety of high-end fuels. What has happened? The RIL-board is concerned ..

Oil refineries in India

The hydrocarbons which are extracted from the sub-surface is in the form of a thick blackish-brown sticky goo like substance. It needs to be further distilled into usable products like petrol, diesel, kerosene, and LPG. This is generally done with the help of giant fractional distillation columns in refineries which are spread all across India. ..

Strait of Homruz: The Artery of Oil

Recently two tankers were targeted in suspected attacks near the strategic Strait of Hormuz which is a vital waterway for global oil shipments. Strait of Hormuz The Strait of Hormuz is a strait between the Persian Gulf and the Gulf of Oman. It provides for the only sea passage from the Persian Gulf to the ..

High level Committee Recommends to Reduce Import Dependency of Crude

The High-Level Committee constituted to examine the issues relating to the preparation of action plan to create synergy among R&D Centres of Oil & Gas PSUs; tax issues and ways to benefit from GST by the Oil & Gas PSUs has submitted its report to the Ministry of Petroleum & Natural Gas. Observations made on ..

India: Import of Crude from Iran and Chabahar Port Development

The sanctions waiver from the US has curtailed the Indian crude imports from Iran. But the fact that Iran was an important supplier of crude to India cannot be sidelined because: Iran is India’s third-largest oil supplier behind Iraq and Saudi Arabia. Iran was the second largest after Saudi Arabia until 2010-11. But the sanctions ..