Oil and gas industry in India Current Affairs, GK & News

India-OPEC Energy Dialogue held virtually

On November 5, 2020, the fourth high level meeting of India-OPEC Energy Dialogue was held virtually. India was represented by the Oil Minister Dharmendra Pradhan. The dialogue is being held since 2015. Key Highlights During the dialogue, India pressed for assessing COVID-19 induced disruptions of oil supply. India during the meet urged OPEC to address ..

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Iraq becomes India’s top crude oil supplier in 2018-19 fiscal year

For the second year in a row, Iraq has become India’s top crude oil supplier in 2018-19 fiscal year and meet more than a fifth of the country’s oil needs. According to official data sourced from the Directorate General of Commercial Intelligence and Statistics, Iraq sold 46.61 million tonnes (mt) of crude oil to India ..

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Current Strategic Oil Reserve facilities in India

The strategic fuel or oil reserve facilities are used for emergency reasons. The Indian Strategic Petroleum Reserve has a total fuel store of total 5 MMT (million metric tonnes) which is enough to fuel 10 days of consumption.  Currently the strategic crude oil storages are at 3 underground locations in Mangalore, Vishakhapatnam and Padur. They ..

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Political economy of petroleum prices in India – Sailaja Akkem

Pricing of Petroleum in India: The history of pricing of petroleum in India dates back to 1920’s. During the colonial period, the pricing of petroleum was free from Government intervention and was determined mainly by the market forces. After the Second World War, the Government started to regulate the pricing the petroleum products. As a ..

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