India to import crude oil from US for first time

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 ..

Month: Current Affairs - July, 2017

Government announces new licensing policy to boost oil output

The Union Ministry of Petroleum & Natural Gas has announced new Open Acreage Licensing Policy (OALP) for oil and gas exploration. The new policy will allow bidders to carve out areas where they want to drill. It will help energy hungry ..

Month: Current Affairs - March, 2017

Union Cabinet approves oil storage pact with UAE’s ADNOC

The Union Cabinet has approved signing of the Definitive Agreement on Oil Storage and Management between Indian Strategic Petroleum Reserve Ltd (ISPRL) and UAE’s Abu Dhabi National Oil Company (ADNOC). Government’s this move aims at boosting India’s energy security by ..

Month: Current Affairs - March, 2017

Union Cabinet approves MoU between India and UAE in field of Energy Efficiency Services

The Union Cabinet has approved the Memorandum of Understanding (MoU) between India and United Arab Emirates (UAE) to provide various services in the field of energy management and conservation. The MoU was signed between the National Productivity Council (NPC), an ..

Month: Current Affairs - March, 2017

CCEA approves contract awards for 44 small oil and gas fields

The Cabinet Committee on Economic Affairs (CCEA) has approved to award contract in 31 contract areas of small oil and gas fields belonging to ONGC and Oil India Limited (OIL) The contract areas include 44 fields, 28 inland and 16 ..

Union Government to invest Rs 15000 crore to increase Panipat oil refinery capacity

The Union Government has decided to invest 15,000 crore rupees to increase the capacity of Panipat refinery in Haryana to 25 Million Tonnes from existing 15 Million Tonnes. It was announced by Union Minister of State (MoS) for Petroleum and ..

Month: Current Affairs - October, 2016

India’s Foreign Policy – Engagement with the Gulf Cooperation Council (GCC)

India’s engagement with the Gulf Cooperation Council (GCC) is a vital aspect of its foreign policy, reflecting historical ties and strategic interests. Established in 1981, the GCC comprises six member states – Saudi Arabia, Kuwait, the United Arab Emirates (UAE), ..

India inks MoU with US to enhance cooperation in energy security & other areas

India has signed a Memorandum of Understanding (MoU) with the United States to enhance cooperation in energy security, clean energy and climate change. The MoU will boost energy ties between the two countries through increased bilateral engagement. Key Facts The ..

Month: Current Affairs - June, 2016