Current Affairs – March, 2019

Latest Current Affairs March, 2019 with Current Affairs, news summary on current events of National and International importance of March, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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IOC-BPRL acquires oil block in Abu Dhabi

The consortium of State-owned Indian Oil Corporation (IOC) and Bharat PetroResources Ltd (BPRL), Urja Bharat Pte Ltd has acquired an oil block in Abu Dhabi, where the two will invest USD 170 million.

About the Acquisition

  • Urja Bharat Pte Ltd has been awarded 100 per cent stake in the Abu Dhabi Onshore Block 1 Concession.
  • Both IOC and BPRL hold 50 per cent each in Urja Bharat Pte Ltd.
  • Urja Bharat Pte Ltd will make an investment of USD 170 million for the exploration activities and the concession is awarded for the period of four years effective from the date of March 24, 2019.
  • Onshore Block 1 covers an area of 6,162 square kilometres around Ruwais field and includes already discovered but undeveloped fields.
  • This Onshore Block 1 is located in the Al Dhafra region around Ruwais City and the refining complex, including the coastal region to the west. There are two existing undeveloped oil and gas fields in the area, named Ruwais and Mirfa, which will be appraised by the consortium.

The acquisition of the oil block by the consortium of State-owned Indian Oil Corporation (IOC) and Bharat PetroResources Ltd (BPRL), Urja Bharat Pte Ltd marks the entry of IOC as a joint operator in the highly prospective UAE region. The acquisition is consistent with its strategic objective of adding high-quality exploration and production (E&P) assets to its existing upstream portfolio.

IAF inducts four Chinook heavy-lift Helicopters

The Indian Air Force (IAF) has formally inducted the Chinook heavy-lift helicopters made in the US. The Chinook helicopters ordered from Boeing in September 2015, were commissioned into the IAF’s 126 Helicopter Unit.

Chinook Helicopters

Chinook is a multi-role, vertical-lift platform, twin-engine, tandem rotor which is used for transporting troops, artillery, equipment and fuel. Chinook would be deployed for humanitarian and disaster relief operations and in missions such as transportation of relief supplies and mass evacuation of refugees.

The advanced multi-mission helicopter Chinook will provide the Indian armed forces with unmatched strategic airlift capability across the full spectrum of combat and humanitarian missions. Chinook helicopters can carry out military operations during the night too.

Chinook helicopter gives India a tremendous capability, primarily in the inter-valley troop transfer since it eases the inter-valley troop transfer to take acclimatized troops from one valley to another valley.

Chinook helicopters will give the IAF quantum leap in terms of ability to transport cargo to precarious high altitude locations.

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