India-Oman Current Affairs

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India-Oman joint military exercise Al-Nagah-II 2017 held in Himachal Pradesh

The joint military exercise Al-Nagah-II 2017 between India and Oman began in the Dhauladhar Ranges in Bakloh belt of Himachal Pradesh to strengthen the military ties between the two countries.

This is the second edition of the exercise in continuation of a series of joint exercises between the armies of the two countries. The first edition of the exercise was held at Muscat, Oman in 2015.

Key Facts
  • The 14-day joint exercise aims to acquaint both forces with each other’s operating procedures in the backdrop of counter insurgency, counter terrorism environment.
  • The troops have been drawn from one infantry battalion each from the two armies. Approximately sixty troops from both countries are participating in the exercise.
  • The exercise will also enhance the interoperability between the two armed forces in conducting joint military operations.

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India, Oman sign 4 bilateral agreements on defence cooperation

India and Oman have signed four Memorandums of Understanding (MoUs)/agreements on defence cooperation.

These MoUs/agreements were signed in Muscat during the visit of Union Defence Minister Manohar Parrikar to Oman.

Signed agreements are

  • MOU on Defence Cooperation: It was singed between the Union Ministry of Defence of India and Ministry of Defence Sultanate of Oman.
  • MOU in the field of Marine Crime Prevention at Sea: It was signed between the Indian Coast Guard and the Royal Oman Police (Coast Guard).
  • MOU on Maritime Issues: It was signed between the Government of India and the Government of Sultanate of Oman.
  • Protocol on Flight Safety information Exchange: It was signed between Royal Air Force of Oman and the Indian Air Force.

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Union Cabinet gives nod to BPCL’s investment enhancement in Oman Refineries

The Union Cabinet has given its approval to enhance investment by Bharat Petroleum Corporation Limited (BPCL) in Bharat Oman Refineries Limited (BORL).

With this, the investment amount of BPCL could be enhanced upto a maximum of 3000 crore rupees by way of subscription of convertible warrants or other instruments.

The infusion of funds by the BPCLs will

  • Enable expansion of Bina Refinery in Madhya Pradesh and overcome the implications on account of the erosion of the net worth.
  • Enhance the availability of petroleum products in the Northern and Central parts of the country.
  • It will also enhance industrial development of Madhya Pradesh and substantial increase in employment and tax earnings in the State.

Background

  • BPCL is India’s second-biggest state refiner that functions under the aegis of Union Ministry of Petroleum and Natural Gas.
  • It has promoted a joint venture company with Oman Oil Company Limited (OOCL) named BORL. OCC holds 26% stake and BPCL holds 49% stake.

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