Oil Imports Current Affairs, GK & News

U.S’ Ban on Russian Oil Imports

On 8th March 2022, President of U.S. Joe Biden imposed an immediate ban on oil and gas energy imports from Russia, by signing an executive order. About the ban The ban on oil imports is in support of the Ukrainian people amid the Russian invasion of Ukraine. The ban got huge support from U.S. voters ..

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India’s Monthly Goods Exports – Current Trend

The Ministry of Commerce and Industry recently released the monthly goods export report of the country. According to the report, in December 2021, India exported 37.29 billion USD of goods. Key Findings of the report The export demand for goods such as petroleum items, engineering products and gems and jewellery were the highest in December ..

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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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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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