Page-2 of crude oil Current Affairs, GK & News

Corona Virus: OPEC to cut oil production largely since 2008 financial crisis

On March 5, 2020, the world’s largest oil production nations of OPEC (Organization of Petroleum Exporting Countries) have planned to cut production. This is the deepest oil production cuts since 2008 financial crisis. Highlights The major member of OPEC, Saudi Arabia has planned to cut production by 1.5 million barrel a day from April 2020. ..

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INS Jamuna deployed on Hydrographic Survey off coast Sri Lanka

The Indian Naval Ship (INS) Jamuna has been deployed in the shores of Sri Lanka to carry out a joint Hydrographic survey. The survey is to be conducted for 2 months time period. Highlights India and Sri Lanka together are to carry out Hydrographic survey and also shore based survey activities for a period of ..

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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 ..

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IEA launches India’s Energy Policy Report

On January 10, 2020, the International Energy Agency (IEA) launched India’s Energy Policy Report. The report insisted that India should adopt its think tank NITI Aayog’s National Energy Policy. IEA released its “India Report 2020”, in collaboration with NITI Aayog. Key Findings of the report The oil demand of India will overtake China by mid-2020. ..

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Growth of eight core sectors slows to 2.1% in July 2019

According to official data released by Government, Growth of eight core industries (Index of Eight Core Industries) dropped to 2.1% in July 2019. It was mainly due to contraction in coal, crude oil, natural gas and refinery products. These eight sectors had expanded by 7.3% in July 2018. Moreover, it has declined by 6.2% during ..

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