crude oil Current Affairs, GK & News

Govt. approves two more new Strategic Oil Reserves

In accordance with the second phase of the Strategic Petroleum Reserve (SPR) programme, the government approved the establishment of two additional commercial and strategic underground storage facilities at Chandikhol (4 MMT) and Padur (2.5 MMT) with a total capacity storage of 6.5 MMT in PPP model. Highlights In the first phase of the SPR programme, ..

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Crude oil output of India drops

The Ministry of Petroleum and Natural Gas recently released its data for the fiscal year 2020-21. According to the data, crude oil production of India fell to 30.5 million tonnes. It was 32.17 million tonnes in 2019-20. Key Highlights The data released by the Ministry of Petroleum and Natural Gas are as follows: Oil The ..

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India-Qatar Energy Task Force

India and Qatar are to establish a task force on energy. The task force will be represented by a senior officer from petroleum Ministry of India and the vice president of Qatar petroleum. The task force is to identify projects in the Indian energy sector for Qatari investments. These announcements were made after the telephone ..

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India Signs MoU to Develop Strategic Petroleum Reserve in US

The Petroleum Minister, Dharmendra Pradhan has signed a memorandum of understanding with the Energy Secretary of the US in order to start cooperation on strategic petroleum reserve. India has also started talks to use the US storage facility for crude oil reserve so that the strategic oil stockpile of the country can be increased. Background ..

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Iran drops off India from Chabahar Rail Project

On July 14, 2020, the Iranian Government announced that it is to move ahead with construction of rail line from Chabahar port to Zahedan on its own. According to the Iranian Government, the decision was taken due to the delays in funding for the project from Indian side. Highlights The Iranian Government is to complete ..

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