Shale gas Current Affairs, GK & News

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 ..

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Oil Prices plunge by 20% as OPEC fails to make a deal

On March 9, 2020, the prices of crude oil plunged by 20% after OPEC to failed to make a deal in making production cuts. Highlights The Saudi Arabia and its major allies like Kuwait, Iraq and UAE initiated to make a deal at the OPEC to reduce production of oil. This was proposed predicting reduction ..

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CO2 emissions rose by 2% in 2018: Study

As per a closely-watched review by United Kingdom (UK) based energy giant BP, titled “The BP Statistical Review of World Energy”, the global carbon emissions grew by 2.0% in 2018, the highest rate since 2010-2011. BP is a London based, British multinational oil and gas company. Key Findings of Study The study called that the ..

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Cabinet approves policy framework for exploitation of unconventional hydrocarbons

Union Cabinet has approved policy framework to permit exploration and exploitation of unconventional hydrocarbons such as Shale oil/gas, Coal Bed Methane (CBM) etc. It will be carried out under existing Production Sharing Contracts (PSCs), CBM contracts and Nomination fields to encourage existing contractors in licensed or leased area to unlock full potential of unconventional hydrocarbons ..

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Government amends definition of hydrocarbon to include shale

Union Ministry of Petroleum and Natural Gas has amended Petroleum and Natural Gas Rules 1959 to include shale in definition of petroleum. This change will allow private companies to explore and produce the resource in the blocks they already operate. Key Facts The updated definition of petroleum means naturally occurring hydrocarbons, whether in form of ..

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