Petroleum products Current Affairs, GK & News

India’s Oil production in FY22

The crude oil production of India fell 2.67 percent in the fiscal year that ended on 31st March 2022. The production of ONGC was less than the target, but KG production by Reliance-BP’s natural gas output rose. Overview: In 2021-22 (April 2020 to March 2022) the crude oil production was 29.69 million tonnes which is ..

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Milestone in India’s Export

India’s exports crossed the USD 400 billion mark in a fiscal year. This is the first time India’s export has reached such heights. Overview: This milestone has been achieved due to good performance by various sectors such as engineering, petroleum products, jewellery and gems, and chemicals. Exports increased by 37 percent to USD 400.8 billion ..

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India shifts towards clean Diesel and Petrol from April 1

From April 1, 2020, India will shift to Euro-VI emission compliant from Euro-IV grades that is being followed now. This means that India will shift towards more clean form of fuel. Highlights As India shifts to Euro VI grades, it will join select league of nations using pure and clean fuel. These fuels contain just ..

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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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GoI launches Saksham, a mega campaign on fuel conservation

The Petroleum Conservation Research Association (PCRA) operating under Ministry of Petroleum and Natural Gas will launch fuel conservation campaign on January 16, 2020. Highlights The campaign will create awareness among public about fuel conservation. PCRA has been conducting Saksham campaigns in different parts of the country. This year, the campaign will create awareness about the ..

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4 Northern states and 2 UTs agree to fix uniform tax rates on petroleum products

Northern states of Punjab, Haryana, Uttar Pradesh, Himachal Pradesh and Union Territories of Delhi and Chandigarh have agreed to fix uniform tax rates on petroleum products, amid rising fuel prices. Besides, these states and UTs also have agreed to bring uniformity in taxes on liquor and registration of vehicles and transport permit. This decision will ..

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