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 ..

Month: Current Affairs - November, 2020

Category: Events Current Affairs • Important Days & Events Current Affairs

Topics: Oil and gas industry in India • Oil Imports • OPEC

COVID-19: Fifth Recession of India

Since Independence in 1947, India has faced four recessions. According to Reserve Bank of India (RBI), the recessions occurred in 1958, 1966, 1973 and 1980. Highlights Recession is defined as the fall in economic activities of the country along with decline in sales, income and employment. India has so far seen four such negative GDP ..

Month: Current Affairs - June, 2020

Category: Economy & Banking Current Affairs

Topics: Balance of Payment crisis • Balance of Payments • Droughts • Economic growth • Energy crisis • GDP • OPEC • Recession

CIPET renamed as Central Institute of Petrochemicals Engineering and Technology

The Central Institute of Plastics Engineering and Technology has now been renamed as Central Institute of Petrochemicals, Engineering and Technology. The name change was registered under Tamil Nadu Societies Registration Act, 1975. Highlights The main objective of CIPET is to contribute towards growth of plastics. It also focuses on education and research programme. The institute ..

Month: Current Affairs - May, 2020

Category: India Nation & States Current Affairs

Topics: CIPET • OPEC • Organization of the Petroleum Exporting Countries (OPEC) • UNDP • UNIDO • United Nations Development Programme (UNDP)

India Russia to sign MoU on Coking Coal

On May 7, 2020, Indian Petroleum Minister Shri Dharmendra Pradhan and Russian Energy Minister alexander Novak held a meeting through video conference. The ministers reviewed ongoing projects. Highlights The ministers emphasized on the cooperation in coking sector. They also held talks about signing a Memorandum of Understanding on Coking coal. The Russian minister briefed about ..

Month: Current Affairs - May, 2020

Category: India Nation & States Current Affairs

Topics: coking coal • Hydrocarbons • India-Russia • Memorandum of Understanding (MoU) • national steel policy • OPEC • Organization of the Petroleum Exporting Countries (OPEC) • Steel • video conference

OPEC and Russia approve biggest Oil Cuts

The Organization of Petroleum Exporting Countries (OPEC) and Russia have come together to cut oil output by 10%. This is being done to control the falling oil prices amidst lock down all over the world due to COVID-19. Background The Russian Government earlier refuted to sign the deal when Saudi Arabia initiated production cuts. Russian ..

Month: Current Affairs - April, 2020

Category: International Current Affairs

Topics: CAATSA • Energy Sector • G20 • Oil Imports • OPEC • OPEC Country • Russia • Shale gas • US President Donald Trump