Oil Imports Current Affairs, GK & News

US Becomes India’s Second Biggest Oil Supplier

The United States has become the second biggest oil suppliers of India by overtaking Saudi Arabia. This shift comes after the refiners boosted cheaper U.S. crude purchases to a record levels in order to offset the OPEC+ supply cuts. Key points The switch in supplies were triggered by the lower U.S. crude demand. It was ..

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Bengal Basin-India’s Eighth Functional Basin

The Oil and Natural Gas Corporation recently began oil production from Ashokenagar-1 well located in the Bengal Basin. With this Bengal Basin becomes the eighth oil producing basin in India. The other oil producing basins of India are located in Mumbai Offshore, Krishna-Godavari river basin, Cauvery, Assam Shelf, Rajasthan, Assam-Arakan, Cambay and Fold Belt. Key ..

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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-Kazakhstan sign Memorandum of Understanding

On November 17, 2020, India and Kazakhstan held seventh round of foreign office consultations via video conference. The countries signed the “Indian Grant Assistance for Implementation of High Impact Community Projects in Kazakhstan”. Highlights During the consultations, the countries reviewed their bilateral cooperation within the framework of their strategic partnership. The consultations covered economic, political, ..

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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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