Petroleum Industry Current Affairs, GK & News

Core sector Growth of India hit due to Lock Down

The core sectors of India include crude oil, steel, natural gas, refinery product, cement, fertilizer, electricity and coal. According to the figures released by the Ministry of Commerce recently, the production of core industries of India shrank in March, 2020 due to lock down. Highlights The output of the core industries has reduced by 6.5% ..

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GoI launches paperless licensing of petroleum service stations

On January 20, 2020, the Department of Industry and Internal Trade (DPIIT) announced that it has launched paperless licensing process for petroleum service stations. The paperless licensing has been launched under Petroleum Rules, 2002. The implementing agency of the order would be Petroleum and Explosives Safety Organization (PESO). Highlights The issue of paperless license for ..

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India becomes most favoured destination for energy investments

Union Minister Dharmendra Pradhan said, India is among the top 10 FDI destinations in the world while addressing the investors in Abu Dhabi on 12 Nov at the roadshow organized by the Directorate General of Hydrocarbons (DGH) to promote India as a favorable investment destination in the oil and gas sector . India presently being ..

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India’s Strategic Oil Reserves in focus after drone attacks on Saudi Aramco Facility

The policymakers are now deliberating on India’s strategic oil reserves at Mangaluru, Paddur (near Udupi) and Visakhapatnam after the drone strikes on Saudi Arabian Oil Co or Saudi Aramco’s facility over the weekend sent shock waves across global oil markets, hitting supplies. India’s Strategic Oil Reserves State-owned Indian Strategic Petroleum Reserve Ltd (ISPRL) which is ..

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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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