Oil Sector: Current Affairs, GK & News - 2020-2021

Petroleum Ministry sets up National Data Repository

Published: November 14, 2018

Union Ministry of Petroleum and Natural Gas (MoPNG) has set up state of-the-art National Data Repository which is database of all geo-scientific data of hydrocarbon resources in the country. It is equipped with cutting-edge technology and will provide ready access to interested companies. With this, India has joined league of countries like UK and Norway ..

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Mongolia launches construction of its first oil refinery with $1 billion Indian aid

Published: June 23, 2018

Mongolia has launched construction of its first strategically important oil refinery funded by India in southern Dornogovi province. The ground-breaking ceremony of long-awaited project was attended by Mongolian Prime Minister Khurelsukh Ukhnaa and Indian Minister of Home Affairs Rajnath Singh.  Key Facts The refinery will be capable of processing 1.5 million tonnes of crude oil ..

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CCEA approves selling 51% stake in HPCL to ONGC

Published: July 24, 2017

 The Cabinet Committee on Economic Affairs (CCEA) has approved sale of government’s 51.11% stake along with management control in HPCL (Hindustan Petroleum) to ONGC. HPCL will continue as PSU after the acquisition. HPCL will add 23.8 million tonnes of annual oil refining capacity to ONGC’s portfolio, making it the third-largest refiner in the country after ..

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First meeting of Integrated Monitoring and Advisory Council held in New Delhi

Published: July 21, 2017

The first meeting of the newly formed Integrated Monitoring and Advisory Council (IMAC) was held in New Delhi.  It was chaired by Union Minister of State (I/C) for Petroleum and Natural Gas Dharmendra Pradhan. IMAC is an inter-ministry monitoring and advisory body for policy formulation and implementation of ‘Roadmap to achieve target of 10% reduction ..

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India to import crude oil from US for first time

Published: July 10, 2017

India, the world’s third-largest oil importer, for the first time will import crude oil from the United States. The purchase comes after Prime Minister Narendra Modi’s visit to the US in June 2017 when President Donald Trump had assured that US looks forward to export more energy products to India. Key Facts Indian Oil Corp ..

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